How to Get a Loan From PayLater in 20 minutes


Paylater is a Nigerian lending platform that allows you to borrow money from your Android phone. No collateral or documents need to be submitted physically before your loan will be approved.

Paylater app

This is not a scam. I have borrowed to the tune of 100,000 Naira from Paylater.

See screenshots of my PayLater account below;

paylater loan


From the screenshot, you can see the dates the loans were given to me. I applied and got the loans within 20 minutes; sometimes even lesser.

Why PayLater?

PayLater is a Nigerian lending platform owned by One Finance Limited. Paylater began operation around 2016. The good thing about this platform is that; unlike banks where you have to visit and fill lots of forms, PayLater gives you a loan without meeting you face-to-face.

No collateral or down-payment is requested from you.

PayLater is the first Nigerian company to allow Nigerians to borrow money from a mobile app. In fact, they are the first loan company to make a huge entry into the Nigerian market.

Who is PayLater for?

  • PayLater is for students who need money to pay school fee before the deadline.
  • It’s for students that need money to complete their final year projects.
  • It is for salary earners that need to settle some bills before payday.
  • Need to get that new gadget and payback when you have cash? Paylater is for you

How does PayLater Work?

When you are loaned money, you are expected to pay back within a specified period. The time for repayment depends on how much you borrowed.

For small loans like 10,000 Naira, you have to pay back within a month.

When I borrowed 100,000 Naira from the platform, I paid back within a period of 6 months. I paid 21,667 Naira for every month within the six months. The total money if calculated will sum to 130,000 Naira. This is fair considering the time frame if you ask me.

As a business which is supposed to make profits, they charge you interest from the loans.

As time goes on, your interest will reduce.

For example, I got my first loan of 10,000 Naira via the app in July 2016. I paid back 13,000 Naira. After a while, my interest rate began to drop and I was charged 12,250 Naira in the next repayment of 10,000.

Another time I got 50,000 Naira from the app and paid back 55,000 Naira while my friend who was newly borrowed the same amount and paid back about 60,000 Naira.

When registering on Paylater, your BVN number, full name and address will be requested from you. This is for security measures in case you default. Trust me, you won’t want to do that.

For loans from 10,000 Naira to 40,000 Naira, no ID card would be requested. But loans from 50,000 Naira and above, a means of identification would be requested.

Here is the list of documents Paylater accepts;

  1. Voters card.
  2. Drivers license.
  3. National Identity card (NIMC/NIN).
  4. International passport.
  5. Staff ID card.
  6. Employment letter.
  7. Tax ID.
  8. Your picture (to be accompanied by a supporting document).

However, PayLater can loan you up to the tune of 1,000,000 Naira but you must be a salary earner with any of the documents listed above.

How to Register and Borrow from PayLater

First of all, you must have an Android phone. Paylater does not work on iOS or Windows; at least for now.

Download the Android app from the Google Play store. Click here to download.

Open the app and fill in your correct information. Your BVN, home address, occupation e.t.c.

You will be required to enter your debit card details. This is required so that the loans can be automatically deducted from your account when the loan date is due. PayLater will not illegally deduct money from your account.

After you are done with registration, click on the “Apply loan” button to apply for your first loan. PayLater will calculate the amount of loan you qualify for.

Once the loan is successfully approved, you will get the funds in your bank account within 10 to 20 minutes.

You can tour the app to see other features of the app.

While you tour the app, you will find a unique referral link. This link can be used to invite friends to download the app.

When you invite friends and they are able to borrow their first loan, PayLater gives you a discount on your next loan repayment.

How to Repay a Loan

There are various ways to repay your loan on Paylater. Here is the list of options;

Automatic Repayment

Paylater requires every customer to set up their credit/debit card in the app. This is so important that you won’t get a loan if you do not do the card setup. The setup is made compulsory so that Paylater can automatically deduct the money from your bank account.

As your loan repayment date approaches, all you need to do is to fund the bank account which its debit card is connected to your PayLater account.

Paylater will automatically withdraw the exact amount you owe.

Repay Via Quickteller

Another option you can use to repay your loan is through Quickteller. Paylater Nigeria has partnered with Quickteller to give customers a variety of options to repay their loans.

Here’s how to repay using Quickteller;

  1. Simply visit
  2. Select Paylater from the option.
  3. Enter your Paylater ID, email address, phone number and the amount you want to repay.
  4. Click on continue.
  5. Enter your card details and click pay.
  6. You might receive a one time password (OTP) on your phone. If you did, enter the code into the space provided and click pay.
  7. The money will be debited from your bank account and your debt will be closed.

paylater quickteller

Repay with a card not Listed in your account

You can repay for your loan with a debit or credit card that you have not added to your Paylater account.

  1. Log in to the Paylater app.
  2. Click on “pay now” next to your loan amount.
  3. Select how much you want to pay back.
  4. Select “Make a onetime repayment”.
  5. Click on continue.
  6. Click on “Pay with card” or “pay with bank”.
  7. Enter your card or bank details to make the payment.

paylater 2

Why you should pay back your loan on time

It is advisable you pay your loan on time. When you pay your loan on time, it boosts your credibility and increases your chances of getting a higher loan earlier.

Failure to pay your loan on time reduces your chances of getting a loan from PayLater or other loan companies may become hard as you will be reported to the National Credit Bureau agency. Apart from that, legal actions will be taken against you.

PayLater Contact Information

If you need to contact Paylater for any reason, you can contact them through the chat feature in the app.

Simply click on the chat icon at the top-right side of the app.

paylater contact

Although Paylater has an email address, the company prefers you to chat with them through the app or their various social media channels.

Twitter: or @paylaterng

Paylater contact phone number or customer care lines cannot be found anywhere on the website or app; however, you can contact the parent company on +234-16311215.

PayLater has been helping a lot of Nigerians access quick loans. Don’t be left out. If you do well in paying back on time, you can borrow money huge enough to start up a business. Have you used PayLater before to get a loan? You can share your experience with us.


  1. Pls if I fund my paylater wallet, will the loan be removed from there on the due date or it will still be removed from my account?

  2. I’ve been trýing to get another loan since I repaid my first , the app asks to take a selfie but it doesnt seem to be working what do I do? This didnt use to happen before

    • It seems you are trying to apply for a loan above 50,000 Naira that’s why you are asked to take a selfie. However, the selfie feature is currently having issues.

      The problem will be fixed before this week ends.

  3. I once downloaded the app and ever since I’ve not been able to get a loan from them. Recently, my issue has been resetting my pin. I reinstalled the app, I was asked to reset my pin. I’ve tried several times but to no avail.
    What do you advise cos I need a loan urgently.

  4. Pls how do I transfer the loan disbursed from my pay later wallet to my account?I tried doing that and its saying insufficient fund.

  5. Please, I read in the requirements that intending customer MUST BE A SALARY EARNER! This disqualifies me as a BUSINESS OWNER into Printing, Publishing and Contracts with an average profit earnings of 150k monthly. So PayLater isn’t for me?????

    • If the loan has been disbursed, it should be in your Paylater wallet. You can transfer the money from your Paylater wallet to your Bank account.

    • About 8 times. The number of times you borrow is just one of the factors used by Paylater to decide if your loan will be increased.

  6. Good app easy to use… I’m having issue with my voter’s card number… I want to ask if am to input the last five digit or all the digit



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