When PayLater got introduced into the Nigerian system, it only served as a means for customers to buy things on credit for a while before making payment. This made it easy for people to buy stuffs online on a buy now pay later basis, with the option of later payment extending up to a 30 day period which would then see buyers part with a 10% commission in charges. Now, PayLater is seeking to be so much more than just an avenue to buy on credit, but allow you borrow money too. How cool is that?
PayLater has introduced the concept of small loans on its platform which would allow users to get small funds that they really need for some urgent and pressing need.
To be eligible to access this loan, users just need sign up through Facebook account or the website itself, make a loan request with a little bit of introduction and they get the desired amount in their bank accounts.
These loan plans come with repayment options too, seeing users pay an added 7.5% when the payment is to be done over 15 days or an option to part with 75% of total loan amount as additional charges when paying back over 30 days.
Timely payments and good behaviors would allow users the option of applying for and getting higher loan values too. Start lending today with PayLater!
Apart from Paylater, there are other ways to borrow loans online.