Check: Things you should know before taking a loan from PayLater

PayLater® is a simple, entirely online lending platform that provides short-term loans to help cover unexpected expenses or urgent cash needs. You can apply for a PayLater loan 24 hours a day, 7 days a week with our quick application process that lets you know your status within minutes.

We get a lot of questions from interested individuals about our service, so weve provided responses here to some of the most common requests.

How does it work?
Download the app here, complete our 100% online application in minutes and submit. Well review your information and communicate a decision to you within seconds.
If approved, you will receive funds directly into your preferred bank account within 24 hours of loan approval.

How much can I borrow from Paylater? For how long?
For your first loan, you can borrow up to N10,000 for a period of up to 30 daysat a rate of 1% daily. For returning customers you can borrow up to N30,000 at a rate as low as 0.5% daily. The more times you take a Paylater loan and repay on time, the more we can lend to you.

What documents do I need to submit?
You do not need to submit any documents to get a Paylater loan. Well just ask you for some basic information so we can get to know you better.
All you need to have is an Android device with a data connection, a valid Facebook account to verify you and a functional BVN-linked bank account to receive funds in.

Why is my Bank Verification Number (BVN) required?
We request your BVN as this is used to verify that the individual applying for a Paylater loan is the same as the owner of the provided bank account. This is to ensure that your name cannot be used to apply for a loan without your authorization in the event a 3rd party hasaccess to your account details.

Please note: Your BVN details do not provide access to your account. If in doubt, we encourage you to confirm this from your bank before you proceed.

Who has access to my data?
Paylater never shares your personal details with third parties, unless it is for dedicated business purposes, such as reporting of loan defaulters to authorized Credit Bureaus. It is therefore important to ensure that you repay your loan on time so your credit history is not negatively affected. If you make timely repayments, this increases your chances of accessing credit from financial institutions in future.

Does my account need to be funded before application?
You dont require any funds in your account prior to taking a Paylater loan. Our loans are intended to meet your urgent cash needs!

Can I access Paylater from any location?
Paylater is available in all 36 states of Nigeria.

Why is my bank account required?
Its important for us to sendyour funds to your preferred account, as quickly as possible. We request bank account details as that is where we will disburse funds to, if approved. Please note that you must provide us with a personal bank account in your name to receive funds.

How do I contact Paylater?
You can reach us via email at [email protected] or by

Ive introduced my friend to Paylater and I want to apply for a loan on his/her behalf. Am I allowed to do this?
3rd party applications are not accepted on Paylater. Please ensure you do not complete an application for someone else or login on your device with another individuals profile, as this can suspend your access to our service. Encourage friends to apply for a Paylater loan themselves, and on their own device.

What is a client ID? How do I find mine?
Your client ID is the unique number Paylater uses to identify you. Think of it as your account number with us. It is sent via SMS when your loan is approved, and in all e-mails we send to you. It can also be accessed by logging into your account on

Please take note of this ID as it should be used for resolving account issues speedily or on any repayment narrations for quick identification.

Want to learn more? Please visit our Frequently Asked Questions on

Ready to get started?To download the app, click here or search ‘Paylater on the Google Play Store.

Paylater is a service provided by One Finance & Investments Limited (RC No: 1044655), a licensed Finance company. You may contact us here for more information and feedback:

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CEO : Obele Chinenye

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