Paylater® is a simple platform that provides short-term loans to help cover unexpected expenses or urgent cash needs. You can apply for a Paylater loan 24 hours a day, 7 days a week with a quick loan application that lets you know your status within minutes, and credits your account immediately.
It’s fast, secure and reliable. Currently available in Nigeria and Ghana.
NEW: DO MORE ON PAYLATER!
With the updated Paylater app, you can perform more financial transactions, conveniently on your mobile device:
- Get quick loans of up to NGN 1million within minutes
- Recharge airtime
- Pay bills for different services
- Send cash to friends and family
- Setup automated transactions to occur at a future date
WHY CHOOSE PAYLATER?
With Paylater, seamless financial transactions are always just a few clicks away.
- No more waiting times or stressful bank visits. Our service is available 24/7 - you can get a loan and make transactions whenever and wherever you need it, right on your mobile device.
- No collateral, guarantors, or documents required. All you need is an Android device, a data connection, and a bank account.
- You use your money however you want to. Whether you’re a student, salary earner or self-employed, Paylater loans can help you achieve your goals.
- Terms that are clear and easy to understand. We display all loan terms before you apply. What you see is how much you repay. No hidden charges. No processing or late fees.
- Get rewarded for positive actions. By repaying loans on time, performing transactions or referring friends, you can earn rewards on our platform such as better loans and discounts on your own loans.
GET IN TOUCH WITH US
Paylater is a service provided by fully-licensed and regulated lenders. While we offer a service that is 100% online, you can always reach us and learn more about our service via the following channels:
- Talk to an agent using our world-class in-app live chat
- Like our Facebook page: www.facebook.com/paylater
- Follow us on Twitter: www.twitter.com/paylaterng
- Double tap our pictures on Instagram: www.instagram.com/paylater
- Read our blog posts: www.medium.com/paylater
- Visit our websites: www.paylater.ng (Nigeria) and www.paylater.com.gh (Ghana)
We’d love to hear from you!
CREDIT SCORE IMPACT
Failure to pay off any loans taken trigger a notice to the consumer credit reporting agency which would negatively impact an individual’s credit score. Late payments can also affect your ability to borrow in the future, so please ensure timely repayments of obligations.
FEES AND INTEREST
A Paylater loan attracts interest rates starting from as low as 2% monthly on the first loan. It is intended to meet urgent, short-term cash needs. Because of this, we have limited the lowest loan amount to NGN7,500 (for first-time applicants, in Nigeria) and loan duration ranging between 60 days and 6 months, so you are not paying excessive interest rates. We also do NOT charge any additional fees - for late repayments or processing costs.
Please do not take a Paylater loan if you intend to service long-term debts.
Keep in mind that depending on the duration of the Paylater loan, the annual percentage rate (APR) on a Paylater loan can vary from 31% to 213%.
Borrow NGN100,000 over 6 months
Interest rate: 60% p.a. (fixed)
Six repayments of NGN 21,666.67
Total amount payable: NGN130,000
Representative: 61% APR
Short-term loans are extremely helpful in emergency cases, but rather expensive if compared with other types of loans and should be used with care and not for a long-term need. You can find more information on our Frequently Asked Questions (FAQs) section on www.paylater.ng (Nigeria) & www.paylater.com.gh (Ghana).