Paylater is an online lending platform that supports its users with short-term loans to help cover unexpected expenses or pressing cash needs. In order to make the lending process easier for already registered users, you can access the loan service platform through the Paylater mobile app or via web.
Paylater mobile app has a simple option that enables you to collect loans easily without stress. In this how-to article, we will discuss all you need to know about Paylater App and how you can use it to get short-term loans that’ll assist you in covering your urgent expenses.
How Paylater Platform Operates
In order for you to binge on this offer, go to their website www.paylater.com > complete the application form with your details plus the amount you want to borrow > then submit. After three working days, you will receive a message to confirm whether you’re qualified for the loan or not.
Note: Ensure that you read the terms and conditions before you submit.
Furthermore, the minimum amount a person is entitled to borrow is #1000 and at the same time, your first loan maximum amount is #10,000 which you are to pay back in 30days with 1% interest per day i.e. the sooner you refund the loan, the greater the chance you have in getting bigger amount of loan.
Paylater offers two types of loans:
- Paylater loan which is available for almost any individual that earns money on a monthly basis and,
- Paylater plus loan is only available for salary earners. Those that are eligible for Paylater loan can borrow up to #500,000 and can take like 3-12 months to pay back the loan on a planned monthly instalment and it has to be proved by your I.D card, employment letter or statement of account.
How to Download Paylater App
- Go to your phones’ App Store
- Enter Paylater on the search icon
- Tap download and wait for it to install
- Once installed, click open to access the app
- Go through the T&C and then, click on “Accept and Continue”
Or simply get it on Google Play directly here.
Congratulations, you have successfully installed the app, and it is ready for use.
How to use Paylater App on your Smartphones
Follow the methods below to sign in and apply for your first loan:
- Open the Paylater App
- Click Sign Up and enter your full details in the application form without leaving any information out.
- After signing up, apply for the loan with the amount you need (don’t forget that the maximum amount you can borrow for the first time is #10,000)
- Go to the loan calculator to know the time you’re due to pay back. Loan approval takes a minimum of 3 working days.
How to Refund Paylater Loan
If you want to pay back the loan on or before the due date, you can pay straight to their account.
- Account Name: Paylater
- Bank Name: Guaranty Trust Bank (GTB)
- Account Number: 0217599035
- Then, add your full name and client ID on the transfer details. It takes up to 1-2 working days for your loan repayment to be accepted.
- Or Click on the Pay Now button and tap “Check loan status”.
When you download the Paylater Mobile App, enter their official website and ensure you go through the T&C so as to understand what you’re getting yourself into.
Paylater is a popular platform that gives you easy access to loans to take care of your pressing needs. With this app, getting your loans just got a lot easier.