Carbon loan app is a digital banking for all lifestyles, which gives you the opportunity to unlock there power of money by providing you with a free carbon bank account. The app allows you to pay bills, transfer money, get instant loan and as well enjoy high interest savings, all in one place.
Carbon digital banking app works like that of the aella credit loan app and with the application, you will be able to carry out multiple transactions with the use of only one app.
Today, I am going to reveal to you, all you need to know about the carbon app, how to use all it’s product and services, the most effective way to access it’s customer care service, ho to all for a loan, how to repay carbon loan and everything you need to know about the app.
Table of Contents
What is carbon
Carbon is a mobile application that provide you with all your cash needs in one place. By just installing carbon app in your mobile phone, you will have unrestricted access to digital bank, loans, savings, payments and lots more.
With the carbon loan app, you will be able to to apply for a loan. Of up to ₦1,000,000 at the comfort of your room or anywhere you might be. No collateral or paperwork required, all you have to do is to get the app installed on your phone and follow the instructions that will be provided for you in this guide.
Features of carbon
Carbon loan app consists of multiple features and one of it is the availability of quick loan of up to N1,000,000. In this section, I am going to reveal all the features of the app and detailed explanation on what each features has to offer the general public.
Below are the features of carbon app with detailed information on each features:
Availability of bank account for transactions
Your Carbon account allows you enjoy cheaper transactions, zero account fees, and an annual interest of 2% per annum. The app allows you to enjoy all the benefits of a personalized bank account where you can carry out almost all your transactions for free. Pay zero transfer fees on your first 30 transfers in every month.
Just like kuda bank, You won’t spend an extra dime on 30 transfers within the month, whether you’re sending money to another Carbon customer or a Nigerian bank account.
People can send you money via debit cards, USSD or bank transfers from financial institutions including GTBank, Access Bank, First Bank, and Zenith Bank. Whether you’re receiving cash gifts from family and friends or getting paid for work done for clients, you can receive money directly in your Carbon account for free.
The app is also equipped with a notification system, in such a way that every time you initiate a transaction, you get instant notifications when the money is sent and also when the recipient receives the fund.
Savings with interest
Carbon provides it’s user’s with a features that allows you to gain continuous interests on your account whenever you save the money and leave it their.
The carbon loan app offer a 2% interest on your Carbon Bank Account which is spread monthly. Your profits are disbursed on the last day of each month.
Smart savings is another feature of the carbon loan app, which allows you to relax and let your money keep working harder for you.
This features allows you to earn up to 15.5% interest per annum when you invest with and consent to the appropriate agreement.
Free credit report
Carbon allows you to Keep track of your credit history across financial institutions and get you notified of any issues you may have. This feature will help you stay on top of things.. and it’s completely free.
Carbon provide you with a debit card that puts you in greater control of your finances, security, and offers access to offers unique to Visa card holders. You can make payments with your Carbon Visa card on both online and physical channels anywhere in Nigeria. You can apply for the card right from your carbon app dashboard and after applying for your debit card, carbon will send it straight to you, wherever you are in the country.
This is the feature that give birth to carbon loan app, which is the primary function of carbon app that prompts this guide, this feature can also be referred to as carbon paylater.
Carbon provides individuals with collateral free loan and make access to credit simple and easy. No guarantors, collaterals as stated in the previous part of this guide nor long forms of any type.
You can apply for a loan 24/7 and receive funds in your Carbon account instantly. Unlock higher loan amounts and lower interest rates by repaying loans on time.
Summary of what you can get on carbon
• Opportunity to earn 15.5% interest on your savings & investments per annum.
• Fred access to store money securely in your bank account; no account maintenance fees.
• Ability to recharge airtime for yourself and others, buy data or pay bills. All for free
• No waiting times or stressful bank visits; Carbon Bank is available online 24/7.
• You will Never visit a bank, everything you need is in the app
• Ability to request for a debit card and get it delivered to your home address.
• You can access the app both on an Android phone and iOS, all you need is a considerably strong data connection, and a valid identity card.
• Monthly interest (2% per annum) on the money in your Carbon Bank account paid on the 1st of every month
• No hidden charges, ever.
• Get rewarded for positive actions. By repaying loans on time, performing transactions, saving regularly, or referring friends, you earn rewards such as higher loan amounts, better interest rates, and free cash!
Carbon loan app registration – How to register on carbon app
To register on carbon app, all you have to do is to navigate to the download section of this guide, download and install the app on your mobile phone to continue with the next step.
Open the app and click on the set up new account button, you will be told to grant the app some access, click on the grant access button to proceed. You will be redirected to the registration page, enter all the required information, this includes; your name, date of birth and gender. Click on continue.
You will see a box provided for your phone number, enter your valid phone number, create a four digits PIN that you will always remember so as not to lose access to your account. An OTP will be sent to your phone number, enter the OTP to complete your registration.
How to apply for a loan on carbon loan app
To apply for a loan on carbon loan app, all you have to do is to open the app and check the top area of the app, you will see loan, click on the loan button and click on apply for a loan on the next page.
Being your first time of applying for a loan, further verification will be required, provide all the required information and once your account is verified, you will have access to choose the amount of loan. You want, the loan tenure and able to submit loan application.
Once your loan application is approved, you will get the money in your carbon account and you will be able to withdraw the money to your Nigeria or kenya bank account.
Carbon loan USSD Code – How to apply for loan on carbon with the use of USSD code
You can also apply for a loan by dialing short USSD code on your mobile. However, you should fully understand that this code can only work on the sim card registered with your carbon loan app.
To access loan service on the carbon app with the use of USSD code, simply open your phone dial pad and dial *1303# and follow the prompts to complete the transactions you intend to do with the code
Make sure that the sim card you used in dialing the carbon loan USSD code is the sim card registered with your account.
How to repay carbon loan
To repay loan on carbon, simply login to your carboy loan app account, navigate to the loan area and you will see the breakdown of your outstanding loan.
Click on the payback button and you will be redirected to the payment page, select your preferred payment method an follow the prompts to comply the repayment. You can as well transfer the equivalent amount to your carbon account and instruct them to deduct it from your balance.
Carbon loan interest rate
Knowing the interest rate of any loan app before you submit a loan application is very important and a factor that you must check when dealing with any loan app.
In this section, I will provide you with the break down of the carbon loan interest rate, how the interest rate is being calculated and all you need to know.
On carbon loan app, you can get loans ranging from ₦1,500 to ₦1m(Nigeria) and Ksh 500 to Ksh 30,000 (Kenya) With loan tenure of over a maximum of 64 weeks.
The carbon loan Interest rate ranges from 1.75% – 30%, with an equivalent monthly interest rate of 1 – 21%. Annual Percentage Rate (APR) from 23% – 60.8%. No late fees or processing costs.
How carbon loan interest rate is being calculated
For a 3-month loan of ₦50,000, Carbon Bank charges 2% a month. With an APR of 24.3%, the total repayment amount after 90 days is ₦53,000.
Annual Percentage Rate (APR) from 23% – 60.8%. No late fees or processing costs.
Example: For a 3-month loan of ₦50,000, Carbon Bank charges 2% a month. With an APR of 24.3%, the total repayment amount after 90 days is ₦53,000.
Flexible tenors from 1 month to 6 months with the ability to make early repayments at any point in the tenor.
Carbon loan app download
Having gone through the detailed information on how the app works, the next thing vis to get the app installed on your mobile phone and in this section, I am goiy to provide you with the direct link to download the app from play store, so as to install and start using the app immediately.
Name Carbon loan app
Version Latest Version
Service Digital wallet/loan provider
Carbon loan APK download
In this section, I will provide you with the direct link to download the APK version of the app and get it installed on your mobile phone, this is for more flexibility, just in case you’re not ok with the getting the Pp on Google play store, then, you will be able to Download the APK version right here.
Name Carbon loan APK
Version Latest Version
Service Digital wallet/loan provider
Download carbon loan app for iPhone
As it has been stated in the earlier part of this guide, the app is available on both android and iOS and in this section, I will provide you with the direct link to download the app from iOS store.
Name Carbon loan app for iPhone
Version Latest Version
Service Digital wallet/loan provider
Carbon loan app login
To login to your carbon loan account, simply open the app and you will be redirected to the carbon loan login page directly, simply enter your unique four digit pin and you will be redirected to your account dashboard immediately.
Also, during your registration, you will be asked to set up biometric login and this is available for Mobil phone that supports finger print. If your phone support fingerprint and you set it up during the registration, then you will be able to login with the use of your finger print alone.
Carbon loan customer care number
Carbon is a service provided by a fully licensed and regulated microfinance bank. While the app offer a service that is 100% online, you can always reach its customer care representatives and learn more about its service. Especially if you have any issue on the app, the best thing is to contact the app customer service to get the issue resolved as soon as possible.
Below are the available channels with which you can get in touch with carbon:
Email: [email protected]
Privacy & Permissions
After downloading the Carbon Bank app, you will be asked for some permission to scan your financial SMS data and other information in order to verify your identity, creditworthiness, and provide you with an instant loan.
The app will also use the collected information to help you better understand and improve your finances with our personal finance manager. The app promised to take privacy seriously And ensure that all data shared with it’s system is encrypted and your personal data will never be shared without consent.
Carbon loan review
Carbon loan has stayed online for a while and have been to gain more than 1,000,000 downloads on Google play store, with overall star rating of 4.1. this implies that the app Is good at What it’s does to some extent.
However, you should always endeavor to repay your loan on time, failure to pay off loans triggers a notice to the consumer credit reporting agency which would negatively impact an individual’s credit score. Late loan payment can also affect your ability to borrow in future, so, always ensure timely repayment of loans.
Do not take a Carbon loan to service long-term debts. Short-term loans are extremely helpful in emergency cases, but can be costly if compared with other types of loans and should be used with care.
Conclusion; Carbon loan app unarguably offers more than just a loan app, you can have access to multiple service on just a single app and the more you use the app, the more you will get used to it. However, with the detailed information provided in this guide, I am sure that you should have fully understand how the app works and how to have free access to it’s product and services without any form of issue.