loan apps

Carbon loan app review

In life, unforeseen circumstances can lead us to seek emergency financial assistance, and this is where Carbon, an automated lending service, steps in to provide quick and reliable short-term loans. This blog post will guide you through the seamless process of obtaining an emergency loan from Carbon, catering to the financially under-served and excluded individuals in Nigeria.

Why Choose Carbon for Emergency Loans?

Carbon specializes in offering short-term loans for immediate needs. The application process is swift, with loan decisions provided within minutes, and approved funds disbursed within 5 minutes, 24/7. The loans are accessible through the Carbon mobile app, available on both Android and IOS platforms, ensuring convenience and accessibility for users. Initial loan amounts for new borrowers start at N1k, allowing borrowers to increase their loan amounts with timely repayments.

Understanding Online Loans:

Carbon’s online loans are specifically designed to bridge financial gaps until the next payday. These short-term loans, with a repayment period of less than 30 days, eliminate the need for collateral. They are ideal for individuals seeking unsecured personal consumer loans, students, and those ineligible for traditional bank loans due to thin credit files.

How Carbon Loans Work:

Securing a loan from Carbon is a hassle-free process. Applicants only need basic details such as their phone number and BVN, without requiring collateral. Carbon’s mobile app utilizes artificial intelligence (AI) to analyze applicant data and assess credit scores based on BVN and phone number verification.


• Fast loan approval process within minutes

• No collateral

• No guarantor


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• Low maximum loan

Eligibility Criteria:

To qualify for a Carbon loan, applicants need:

  • Valid bank details
  • BVN number
  • Android phone
  • Completed online application form

Interest Rates on Carbon Loans:

Carbon’s interest rates range from 0.1% to 1% daily, determined by the borrower’s creditworthiness. As borrowers repay their loans promptly, they may experience lower interest rates. The daily interest rate results in an Annual Percentage Rate (APR) ranging from 36.5% to 360%.

Example: For a 91-day loan with a principal amount of NGN 3,000, the interest would be NGN 273, making the total amount due NGN 3,237.

How to Apply for a Carbon Loan:

  1. Download and install the Carbon app from the Google Play Store.
  2. Register with your Name, BVN, Email, and Phone number.
  3. Use code “15jdg8” as a referral code during registration.
  4. Access the app dashboard and click on “Apply for a Loan.”
  5. Choose the desired loan amount and fill out basic information.
  6. Submit the application and await verification, which may include a call.
  7. Receive the application result through the app and SMS.
  8. E-sign the loan agreement after approval.
  9. Once E-signed, the approved loan amount will be disbursed, with an SMS notification.

Carbon Customer Service:

For any assistance, Carbon provides various support channels, including a support ticket through the app or contacting customer support via email. The Carbon loan customer care team is readily available to address queries.

Is Carbon Legit?

Absolutely. Carbon is a registered Carbon Microfinance Bank (RC 1642222) with the Central Bank of Nigeria. They maintain robust security measures to protect user accounts, ensuring a trustworthy lending experience.

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In summary, Carbon stands out as a reliable solution for those seeking quick and secure emergency loans in Nigeria. With a user-friendly application process, reasonable interest rates, and legitimate credentials, Carbon proves to be a valuable option for individuals looking to meet short-term financial needs without the complexities of traditional bank loans. Apply for a Carbon loan today and gain access to fast and efficient financial assistance of up to N500,000.

Ibrahim Ismail

A passionate and highly skilled individual who has seamlessly blended the worlds of statistics, technology, and finance.

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