Carbon: Mobile Banking & Loans 3.7.5

Carbon Finance and Investments Limited – Freeware – Android iOS
out of 6474 votes

Carbon: A Seamless Mobile Banking Experience

David Fischer

12/23/2024

Carbon offers a user-friendly mobile banking platform with quick loan approvals and a comprehensive suite of financial services, making it ideal for users seeking convenience and accessibility.

Access a range of banking services with Carbon, from high-interest savings to instant short-term loans for your urgent financial needs. By opening a Carbon bank account, you can embark on a better financial lifestyle in just minutes.

SPECIAL FEATURES

Loan amounts range from ₦1,500 to ₦1 million (Nigeria).
Repayments can be made over a maximum of 64 weeks.
Interest rates range from 1.75% to 30%, with an equivalent monthly interest rate of 1% to 21%.
Annual Percentage Rate (APR) varies from 23% to 60.8%. No late fees or processing costs apply.
Example: For a 3-month loan of ₦50,000, Carbon charges a monthly interest rate of 2%. With an APR of 24.3%, the total repayment amount after 90 days is ₦53,000.
Tenors are flexible, ranging from 1 month to 6 months, with the option to make early repayments at any point during the tenor.

FREE MONEY TRANSFERS

Transfer funds to any bank at no additional cost, up to 30 times a month. This impressive feature saves our customers ₦1,500 on transfer charges every month.

HIGH-INTEREST SAVINGS

Make the most of your money by creating a savings plan with Carbon. Earn up to 15% interest on your funds when you withdraw.

FLEXIBLE PAYMENTS

Purchase the items you love and need the most and pay for them in small, equal installments with 0% interest.

CASHBACK ON LOANS

Apply for a loan of up to N1 million and receive funds in your account within minutes. When you pay on time, you also receive up to 30% cashback on the interest you paid.

CARD WITH CONTROL

The Carbon Visa card gives you freedom and security. Spend as you please online and offline, and freeze your account from anywhere if you notice any irregular behavior. Set spending limits across different channels.

SKIP THE QUEUES

Request a Visa card with just a tap of a button on your Carbon app, and it will be delivered to your doorstep anywhere in the country.

INSTANT REVERSALS

No need to worry with a Carbon bank account. Experience instant reversals whenever transactions fail to complete.

GET IN TOUCH!

Carbon (formerly Paylater) is provided by One Finance & Investments Limited, a CBN-licensed and regulated finance company. Although we offer a fully automated service, we are always available to assist you through various support channels. We appreciate your feedback and look forward to hearing from you!

Overview

Carbon: Mobile Banking & Loans is a Freeware software in the category Business developed by Carbon Finance and Investments Limited.

The latest version of Carbon: Mobile Banking & Loans is 3.7.5, released on 07/03/2024. It was initially added to our database on 09/26/2023.

Carbon: Mobile Banking & Loans runs on the following operating systems: Android/iOS.

Users of Carbon: Mobile Banking & Loans gave it a rating of 5 out of 5 stars.

Pros

User-friendly interface that simplifies bank transactions and loan applications.
Offers quick loan approvals, often within minutes, making it convenient for customers in urgent need of funds.
Provides a variety of financial services including savings, loans, and investment options all in one app.
Strong security features to protect user data and financial information.
Accessible customer service with multiple channels for support.

Cons

Limited availability in some regions; not all users may be able to access the app.
Interest rates on loans can be relatively high compared to traditional banks.
Some users report occasional app stability issues or bugs that can hinder usability.
Requires a stable internet connection, which may be a barrier for users in areas with poor connectivity.
In-app fees for certain transactions, which can add up over time.

FAQ

What services does Carbon offer?

Carbon offers mobile banking, personal loans, and investment options.

How can I access my Carbon account?

You can access your Carbon account through the mobile app available on Android and iOS.

Is there a fee for opening an account with Carbon?

No, there are no fees to open an account with Carbon.

What types of loans does Carbon provide?

Carbon provides personal loans, business loans, and salary advance loans.

How quickly can I get a loan approval?

Loan approvals are typically processed within minutes.

What is the maximum loan amount I can borrow?

The maximum loan amount may vary based on your creditworthiness and repayment history, but it can go up to several hundred thousand naira.

How is interest calculated on my loan?

Interest is calculated as a percentage of the loan amount and depends on the loan type and term.

Can I repay my loan early? Are there penalties?

Yes, you can repay your loan early without incurring any penalties.

Is my personal information secured with Carbon?

Yes, Carbon uses advanced security measures to protect your personal information.

What should I do if I forget my password?

You can reset your password through the 'Forgot Password' option on the login page of the app.

David Fischer

I am a technology writer for UpdateStar, covering software, security, and privacy as well as research and innovation in information security. I worked as an editor for German computer magazines for more than a decade before joining the UpdateStar team. With over a decade of editorial experience in the tech industry, I bring a wealth of knowledge and expertise to my current role at UpdateStar. At UpdateStar, I focus on the critical areas of software, security, and privacy, ensuring our readers stay informed about the latest developments and best practices.

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