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The good and almost unbelievable thing about paylater,is that you don't need to give any form of collateral for the transaction to occur.
About Paylater and Mode of Operation
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. It is also a service provided by One Finance & Investments Limited (RC No: 1044655), a licensed Finance company.But Their 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.
Requirements
•Android Phone
•Real Facebook Account
•BVN
Also Read:How To Sign Up / Open Fidelity Online Internet Banking Account See Pictures
Some Frequently Asked Question (FAQ) ABout Paylater
How does this work?
For first timers, the maximum range isN10,000 after which Paylater expects a total of N11,500 in 15 days or N13,000in 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 Are currently offering two loan packages:
PAYLATER (loans available to all) &PAYLATER PLUS (loans for salary earners).
But Why Requesting For 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 Can I Apply For a Loan?
It’s simple! Just follow the steps below to apply for a Paylater loan:
1. Download the Paylater App =>DOWNLOAD: Paylater Apk
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.
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.
You see its as simple as ABC and just anybody can apply for this.
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