Have you been thinking of how to obtain loan via an online platform instead of passing through the stressful normal micro-finance banks with unending requirements. Well, the good news is that what you are looking for us available online and can be obtained in less than 24 hours and that’s where Paylater comes in.

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 ₦10,000 after which Paylater expects a total of ₦11,500 in 15 days or ₦13,000 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.

ALSO READ:  Apple Becomes The First Private Company To Reach $1 Trillion Valuation

The company presently has two loan packages:

  • PAYLATER (loans available to all)
  • PAYLATER PLUS (loans for salary earners)


  1. Android Phone
  2. Real Facebook Account
  3. 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 To Apply For a Loan?

It’s simple! Just follow the steps below to apply for a Paylater loan:

  1. Download the Paylater app HERE
  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

How To Pay back Your Loan?

  • On the due date, 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.

What do you think about this platform? I think this is a great way to bail out people with great business ideas but not capital.



Please enter your comment!
Please enter your name here