Loan Top-up
A loan top-up is accessing additional funds on a multiple installment facility after paying a certain number of installments on time for an extended period at the same rate.
How do I get a top-up
?
You need to have a current loan within a 3- 9 months installment and you must have paid for 2 months on time. Then, the top-up loan offer will be displayed to you in the app, at your current interest rate and loan tenor. However, you can only access a top-up loan once in a loan cycle
Why can’t I get a top-up
?
- Your current loan is less than a 3 months tenor
- You are yet to repay the 2nd installment on your current loan
- Your installment repayments have not been on time
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Please note that once a loan is rescheduled within the loan cycle, you are no longer eligible for a top-up offer. Kindly reapply after full repayment of the current loan facility.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 ...How do I apply for a loan?
After downloading the app, sign in to identify yourself by providing your personal and financial information on your profile to get your Carbon account upgraded to KYC level 2, which is the minimum level required to access a Carbon loan. Once done, ...Loan Declined due to late repayment history
Unfortunately, you are not currently eligible for a loan due to the unsatisfactory repayment record on your previous loan. We recommend you keep using your app consistently to perform other transactions (e.g. airtime recharge, bill payments, savings, ...I just paid back my most recent Carbon loan. How soon can I apply for another loan?
If you have successfully paid off your previous loan on time, you can re-apply for another loan within 24 hours if you have not already accessed 3 loans within 30 days and may qualify for higher credit at a lower rate.