Carbon Loan Rescheduling Policy and Late Payment Consequences

Loan Rescheduling

Can I reschedule my loan repayment? What happens if I pay late?


We understand that financial circumstances can change suddenly, Carbon wants to support you through difficult times. However, it is important to note that we do not reschedule repayment dates and you should only take a Carbon loan if you are reasonably certain that you have the means to repay within the agreed period.


We will advise you to begin to initiate partial repayments by funding your Carbon account by following these simple steps:


Go on the Carbon app home page, click ‘fund account’ to retrieve your Carbon account number.
Log in to your Bank’s mobile app, select transfer to other banks.
Enter the amount you want to fund your Carbon account with, input your Carbon account number and select Carbon/One Finance as the bank name.
​Once top-up is successfully completed, the funds will reflect in your Carbon account.


Also you can simply fund your Carbon account via a direct USSD fund transfer by dialing your bank’s USSD code, select Carbon/One Finance as the receiving institution and input the amount.


I’m going to be a few days late on my payment, how will that affect me?

Paying late might affect your ability to get a loan in the future or the terms of your future loan. We therefore urge you to pay each installment on time.


What happens if I don’t pay back my loan?

Defaulting loans can lead to the following actions from Carbon:

  1. Suspension of your access to our lending service.
  2. Reporting your default to credit bureaus which will severely limit your ability to access loans in the future.
  3. Involvement with external collection agencies.
  4. Possible legal action.

We therefore advise you to make every effort to meet your obligations on time.

Remember, a positive outcome for you is a positive outcome for us, so please be in touch if you have any issues making your loan repayments.