Are you in need of cash and you are willing to get loans? Paylater offers you much more than just giving you loan.

In as much as you will definitely comply and repay your loans,better for you because you will gain more for early payment.

In this post, I made a brief write up about Paylater is all about and how you can get started.

Table of Contents:
  1. What is Paylater? 
  2. How does Paylater works.
  3. Things Required.
  4. How to get loans.
  5. Repaying Loans.
  6. Investment.
  7. Airtime transfers and bills Payment 
  8. What happens if I don’t pay back.
  9. Loans discount (Referral).


1.What is Paylater ?

Paylater is a platform that offers services of Investing money, Getting instant loans  online, Making bills paymens,Airtime recharge and transfers.

Paylater is a service provided by One Finance & Investments Ltd (RC. 1044655), a Finance company licensed and regulated by the Central Bank of Nigeria.

Note:Paylater is not a bank.

2.How does Paylater Works?

First of all download the app here or go to Google Play Store and type paylater.

After downloading the app, sign in or sign up to identify yourself,you will come across an application form.Fill it with your correct details.

3.Things Required

  • An Android phone with fast internet connection because it’s an online transaction.
  • An active ATM 💳 Card.
  • BVN(Bank Verification Number)Dial *565*0# to check yours.
  • Ability to repay loans you borrowed.
  • Make sure your date of birth written in the form corresponds with the that of your bank account.

4.How to get Loans

After you must have registered with your correct details ,click on take your first loan.

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Paylater sign up

After that they will then display your available loan offer in the app and you can view your expected repayment(s). Submit your application and they will typically notify you of the loan decision within minutes.

5.Repaying Loans

On your due date(s), your payment will conveniently be deducted from the account linked to the debit/ATM card provided during your loan application.

You can repay your loans in three other ways:

  • Quick teller:Click ‘Make a Repayment’ in the app,Select ‘Pay with Quickteller‘Enter your card details and confirm the transaction.
  • Debit Card 💳:To make a payment to clear an active loan, click the ‘Make a Repayment’ button in the app,This can be found under the ‘Your Loans’ menu section in the app. Simply tap on the card linked to your profile or select ‘Add a New Debit/ATM card’ if you wish to repay using a new card.
  • Direct Transfer:
    Account Name: PaylaterBank: Guaranty Trust Bank (GTB)Account Number: 0217599035.

Include your full name and client ID.

Repayments made via cash transfer are typically updated on our platform within 1 – 2 business days.


Paylater investment

PayVest is Paylater’s investment platform that helps you put away funds and grow your wealth in a secure and transparent manner.

How to fund your Payvest account:

You can lock in your PayVest investment by doing the following:

  1. Click ‘Activate Payvest’ on the home page of your app. You’ll need to have your app updated to access the new feature.Paylater payvest
  2. Select your investment terms and confirm the investment
  3. They will display a customized bank account for you to transfer the investment amount to.
  4. Once done, your investment is instantly confirmed!
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On each investment plan, qualifying investment amounts range from ₦50,000 to ₦10.000,000.

The prevailing interest rate for a 1-year investment is 15.5%* per annum. Rates will vary depending on the investment duration selected.

Available investment tenors are 3, 6, 9 or 12 months. If you wish to re-invest after an investment has been paid out.

Interest rates are calulated based on the investment tenor selected.The longer you lock in funds for, the higher your rates!

7.Airtime Transfers and Bills Payments

Click on the buttons to get started,

Paylater airtime and bills payment

Funds transfers will cost a maximum of NGN50, while service charges for bill payments will never exceed NGN100.

To start,these are the following limits on transactions:

  • Airtime top ups — NGN10,000
  • Fund transfers — NGN50,000
  • Bill payments — no transaction limits

Payments can be made either using an existing debit card you have saved on your account, or by adding a new card.

8.What happens if I don’t pay back my Loans.

As I have said earlier, you need to have the ability to payback your loans in order to avoid falling victim of the following:

  • Suspension of your access to paylater’s lending services.
  • Reporting your account delinquency to multiple credit bureaus
  • Involvement with external collection agencies
  • Possible legal action

It’s better you take loans on what you are sure of paying back.

9.Loans discounts (Referrals)

Paylater offers a discount program that allows you to earn money for referring a friend – who then repays their first loan on time – to our service.

When you bring in a good borrower to help grow the community, they’ll reward by offering you a discount on your next loan.

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You can find the referral code in the picture below:

Paylater refer a friend

Discounts have a validity period after which they expire, if it remains unused.


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Ariscopi is the owner of the weblog “Arislink.Com”.....His goal is to let Everyone get the latest gist on new gadgets price, features and specs, guide and also tips from other angles of life.


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