Dear Nigerians, This is Everything You Need to Know About Paylater Online Loan

Lots of people have been asking if this option is available
online instead of passing through the normal micro-finance banks with neck
breaking requirements. The good news is that it is available online and you can
get in less than 24hours.

There are times that you are just pinned to the wall and you
need a narrow escape out of it but your bank account is reading “red”, in such
a situation, getting a loan might be your only option.
Paylater® is a simple, entirely online lending platform that
provides short-term loans to help cover unexpected expenses or urgent cash
needs.  No collateral, guarantors or
application fees required. Just a few clicks of a button.
Paylater is a service provided by One Finance & Investments Limited
(RC No: 1044655), a licensed Finance company.

Interest is charged at
a daily rate of 1% which means that if you borrow ₦10,000 you’ll have to
pay back ₦11,500, in 15 days, or ₦13,000 in 30 days.
How does this work? 
For first timers, the maximum range is N10,000 after which Paylater
expects a total of N11,500 in 15 days or N13,000 in 30 days. There are really
no hassles involved in this as they simply debit the said amount from your bank
account on the due date. 
For the application process, Paylater has made it easy
for applicants as they all have to go through their Facebook accounts (which
already has details of each person) to login.

They currently offer two loan packages:
PAYLATER (loans available to all)
& PAYLATER PLUS (loans for salary earners).
Requirements
>>Android Phone
>>Real Facebook Account
>>BVN
Why BVN?
The BVN provides all the verification details the company needs
before they can give out loans. It “verify that the individual applying for a
Paylater loan is the same as the owner of the provided bank account.”
How Do I Payback my Loan?
On the due date, Paylater.ng automatically debits
your account by the amount you owe, if you are not comfortable with that,
you can pay manually.
Once you log into your dashboard, you will see the current loan
you have applied for and you will also see the PAY NOW button.
Click on it and the page below would come up.
Enter your credit card details appropriately and click OK once
you are done.

How Can I Apply For a Loan?
It’s simple! Just follow the steps below to apply for a Paylater
loan:
2. Register your personal details
3. Choose your desired loan amount and duration
4. Submit your application. You will get a loan decision
in seconds.
5. If approved, your account is credited within
30 minutes.
You can chat them up on twitter here
I know a lot of people who have benefited from this
platform and I’m sure many will still benefit from it too.
Have you borrowed money using
Paylater? Please share your experience in the comments section below.
Spread the love

45 thoughts on “Dear Nigerians, This is Everything You Need to Know About Paylater Online Loan

  1. Isn't this opposite of MMM?,and they say MMM can't pay 1% but a micro finance can take 1% daily as interest on loan.Okay o

  2. Isn't this opposite of MMM?,and they say MMM can't pay 1% but a micro finance can take 1% daily as interest on loan.Okay o

  3. ha oga yomi…even in freetown nothing is free this this is compound interest not simple interest if u did maths very well u go know sey micro finance loan and did one na identical twins

  4. Have been trying to get loan from them but am finding it difficult to summit my loan form because of location. There trying to get my location but keep on failing maybe is the phone am using I don't no. Am using Techno Y4.

  5. Sori for digressin. Pls, i need solution on Bluetooth switching on automatically overnight on my new gionee phone . Though am suspecting it could be as a result of turning on d location . Cos, location at times can access Bluetooth . Just confused. Any help, prof yomi

  6. Been using this since last year, helps out when u need urgent small cash. Why do Nigerian have the spirit of negativity when something new comes out. This is no ponzi scheme, if u have not tried out something and knkw it's drawbacks first hand don't condemn​ it pls . The service works try it if u need it.

  7. The service works perfectly cos I have used it several times when I need urgent cash….as for the doubting Thomases pls don't be so quick to tag every financial platform as a ponzi scheme……theu give loans to make money do you expect them to collect back the exact money they loaned out? You know that ain't possible

  8. Been using this since last year, helps out when u need urgent small cash. Why do Nigerian have the spirit of negativity when something new comes out. This is no ponzi scheme, if u have not tried out something and knkw it's drawbacks first hand don't condemn​ it pls . The service works try it if u need it.

  9. I've collected the loan before. They won't deduct your money until the due date and that's if money is in your money in your account. Note :you need have 100 in your bank account to protect your card online.

  10. Be careful of the people u are referring. Someone who I referred couldn't payback because of some problem, and it also effected me. They stopped giving me loans, and it took me long time to understand the real reason. Thank God the guy has finally paid.

  11. I have been using online loan platforms for a while now. paylater is good but have a very hostile customer service when u don't pay on time. I also use Quickcheck dey are reliable too and friendly customer service.

  12. This article might need an update – there's a lot of things that are no longer correct about the service.
    – all first-timers no longer start at 10k by default. The app calculates a loan offer and presents varying offers to different individuals based on their financial status. Interest rates are also not 1% daily for everyone.
    – a Facebook account is no longer required to register. Just phone number and email.
    – there's no longer a 'Paylater Plus' package – all loans go through the offer calculation process mentioned above.

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