Why is my approved loan not yet disbursed?
This could be because you are yet to set up a valid debit card for repayement.
Please set up your card by following this link;
https://app.getcarbon.co/ using a GOOGLE CHROME BROWSER.It is important to note;
1) The loan must be in an APPROVED state.
2) You must set up your personal debit/atm card i.e Third-party cards are not accepted.
3) Debit card/atm must be enabled for online transactions before you can set up your card on the Carbon application.
4)There must be at least N100 above the bank minimum balance in the account(SAVINGS and CURRENT) linked to that card.
5) The debit card must be valid for at least 60 days after the last loan repayment.
If you have set up a valid debit card and the loan has still not been disbursed, then this might be due to a technical issue. Please send us a support request in app so it can be escalated to the appropriate unit.
Related Articles
How long does it take for Carbon to approve a loan?
Carbon is known for its quick loan approval process. Typically, loan applications can be approved within minutes once all required information is submitted. However, the actual time it takes for your loan to be approved may vary depending on the ...
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 ...
Loan Application Fee
To ensure a fast, fair, and secure loan process tailored for sharp minds who move differently, a non-refundable application fee of N500 applies only to first-time borrowers. This fee covers part of the cost of important checks—such as fraud ...
What if my loan isn’t approved? Do I get a refund?
If your loan is not approved, the application fee is not refundable as stated on the app. The fee covers the work involved in reviewing every application—such as fraud checks, credit verification, and data security measures. Once we run the numbers, ...
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, ...