Paylater: Fast Way To Borrow Money Online in Nigeria

By GistmasterPaylater is one of the fastest way to borrow money online in Nigeria. There is no paper work or collateral involved. I have never borrowed money online until I discovered the paylater app online.
I read about paylater and what you need to get started was downloading the mobile app.

All you need to get your first paylater loan online is an android phone and internet connection.Fill out the form in minutes and the computer will determine your loan offer and duration. You will also be required to enter your bank account details and BVN (Bank Verification Number).

However before you apply for loan on paylater, note the following information printed on this page


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 ability to borrow in the future, so please ensure timely repayments of obligations.


Paylater loan attracts interest rates starting from as low as 5% monthly on the first loan. It is intended to meet urgent, short-term cash needs. Because of this, we have limited the available amount to N10,000 (for first-time applicants) and loan duration to 15 or 30 days so you are not paying excessive interest rates.

Please do not take a Paylater loan if you intend to service long-term debts.


You can re-apply for another loan immediately after your loan amount is fully paid off and may qualify for higher credit at a lower rate. There are no fees required to process a loan renewal.


Keep in mind that depending on the duration of the Paylater loan, the annual percentage rate (APR) on a Paylater loan can vary from 134% to 213%.

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 in our Frequently Asked Questions (FAQs) section.


If you find yourself in a situation that makes it difficult to make your scheduled repayment, please contact us immediately by writing to

We do our best to help our customers avoid these situations and the resulting consequences which can include:

  • Suspension of your access to our lending service
  • Reporting your account delinquency to multiple credit bureaus
  • Involvement with external collection agencies
  • Possible legal action

Remember, a positive outcome for you is a positive outcome for us, so let us assist you with working through and finding a solution to any issues you may face during the loan period.

Paylater is a product of one credit.It’s official website is

Chijioke Dozie is the founder/CEO of One Credit, the owners of Paylater Nigeria

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