Product Review

Is, online quick loan, real or a scam? |How to apply | Loan Application requirements 

To put the record straight, is one of the best online loan givers in Nigeria at the moment. 

We downloaded paylaterng app from Google store, and sign up, applied for #10,000 loan, which got response less than 1 hour.

So we’ll be writing this review based on our experience with the online loan processing firm.

What is paylater official website?

It’s official url is

Please take note of the “S” in https.

What is

Paylater is an exclusive online lending platform that grants short term loans to Nigerians who might want to cover unexpected expenses.

“You can apply for a Paylater loan 24 hours a day, 7 days a week with our quick application process that lets you know your status within minutes.”

What makes paylater. ng different from conventional loan lending bank?

There is no bank in Nigeria that gives out loan without a sufficient collateral. Other loan lending community bank won’t grant your loan applications without collateral.

What makes unique from others is : it grants online loans in Nigeria without collateral, fast loans and quick loans in Nigeria.


You may want to apply for the loan right away, but make sure to fulfill the following REQUIREMENTS for your application to get approval :

1) You must be in a place where there’s strong internet connectivity,  because your local is needed if you’re using the loan app

2. Your Bank Verification Number, BVN, and other bank details

3. Your financial status. You must disclose them in the course of application.

4. The details you provide must be accurate, if not your application may be rejected.

Apply for Paylater Quickest Online Loan | Get Instant Online Loan within minutes

Follow these easy to follow steps to get instant loan approval from paylater

1. Download Paylater Loan App on Google Play store

2. Open the app and click on Sign Up to set up an account

3. Fill your first name, preferably surname

4. Click on next to fill your Last name

5. Click on next fill your Date of Birth. Make sure the date of birth you’re providing corresponds with the ones in your bank account

6. Click next to fill your phone number.

7. Click next to fill Referral Code. Use QUADX1PN as your referral code. Note that the code is optional, but it’d be an added points for the writer of guide if you use it.

8. Click next to receive your verification code of 6-digit

Congratulations, your account is set up.

9. Inside the app, click on MENU to view the following : Your loans, Your Points, Refer a Friend, Your profile, Notifications, Manage cards, Log out.

10. Click on YOUR PROFILE to update your account : education and employment status and your bank details

11. After filling the above, go back to the menu

12. Click on YOUR LOAN. Click on Apply for loan. If you’re a first timer, the maximum you can apply for is #10,000.

You can only apply for higher loan if a full time employer of a reputable company or civil servant. This will require documents.

Fill all the necessary details and click on apply.

Wait for the team to approve your loan. It may be approved or rejected. If it’s rejected, you’d be told the reasons.


Why (24/7) Online loan may reject your application

There are a number of reasons why may not approve your application for loan.

According to the firm, “you may not currently meet Paylater’s criteria. As a responsible lender, we take steps to ensure we only extend credit to the right profile of applicant, so that our clients won’t become too indebted. It is possible that at this time, you simply don’t match the profile of individual we normally lend money to. Whatever the situation, we recommend coming back in 1 or 2 months to re-apply, since the criteria of these decisions are constantly refined.”

4 major reasons why your loan may be denied are:

1. If you supplied incorrect/invalid details on your application, your Paylater loan application may be rejected.


Kindly review provided details such as your Bank Account details, BVN, Date of Birth and Phone Number to ensure all information supplied is accurate.

2. If you have a negative credit report. Paylater assesses each applicant’s performance on previous loan obligations (this includes Paylater loans) prior to approving your application.

If you have ever taken a loan and failed to pay on time, your new application will not be approved.


Please go offset your previous loan and apply later.

3. If you’re not in a location where Paylater is available. Paylater is currently only available within the 36 states of Nigeria, and the FCT.


Be in one of the locations where paylater is and apply again.

4.Poor internet connection.

The major reason of loan denial by paylater is when you are applying from a location with poor internet connectivity, you may need to connect to a stronger network as your location is needed for your application to be approved.

I met the criteria but I experienced poor internet connection in my location, even though I enabled Google location on my device.


Apply for paylater loan in a location with fabulous internet connection and re apply.

The Paylater Team



You can earn points in the app for telling anyone about our service.


The support is superb on all his contact us channels.


Actions on Paylater will attract points within the app — positive actions such as on-time repayments increase your points, while negative actions (for example, a late repayment) cause decreases.


When you have earned enough points at each level, you’re moved a step up — this is indicated by the badge assigned to you. Your loyalty badge determines how much you can access, your interest rates, and even your loan repayment period.


Maximum available amount for Paylater loans to N100,000. This can be reached by consistent on-time repayment of loans, and also by earning enough points to reach the badge level required to unlock it.


Depending on your points level, you can now access Paylater loans at reduced interests rates of 4  - 30%


To help you more conveniently service repayments, paylater increased loan repayment tenures on amounts over N20,000 to as long as 90 days, so you can take your time and easily settle your loans.

For 10k you have between 15-30 days to repay


Quick loans for salary earners. If you are currently in paid employment, you may be eligible for a Paylater Plus loan of up to N500,000. Supporting documents required.

Download Paylater loan App here


You won’t be able to aply for loan where there is poor internet service. It depends so much on Internet connection for it to determine your location before your loan is approved.

Internet connection is stil very poor in Nigeria, even when you’re within the vicinity where there is mast of your data service provider

It’s designed for those with high tech device. It uses Google map to determine your location.

Contact paylater

Paylaterng is on Facebook, twitter@paylaterNG, and on instagram.

Physical address :Plot 1224, Bishop Oluwole street, Victoria Island, Lagos.

Paylater…Apply for quick loan, Get Instant loan