Carbon

Carbon provides a full-suite digital banking experience including instant loans, high-yield savings, comprehensive payment solutions, and a debit card. Users can open an account quickly within minutes through the mobile app, enabling them to carry out all banking transactions digitally. The platform also offers a free credit report to help users manage their financial health.

Carbon specializes in instant loans for personal and business needs, ranging from ₦2,500 to ₦1,000,000. Loans feature flexible repayment periods from 61 days to 12 months, with monthly interest rates between 4.5% and 30% (Max APR: 195% per annum). Crucially, no collateral, guarantors, or hidden fees are required. The platform also includes 'Carbon Zero,' a Buy Now, Pay Later (BNPL) feature allowing customers to split purchases into four interest-free installments.

Users can earn competitive returns on their savings with Carbon, offering up to 20% interest on plans like the 12-month fixed 'Cash Vault' with a minimum deposit of ₦50,000. The platform also supports 'Carbon Circles' for group savings with shared goals and provides digital Esusu/Ajo (traditional group savings) features, along with monthly interest payouts on standard accounts.

Carbon consolidates all payment needs in one place, enabling seamless transactions. Its 'Pink Passport' debit card allows for secure online and offline payments, offers instant payment notifications, in-app card security management, and provides benefits such as payment spreading and monthly cashback. The platform aims to simplify daily financial transactions for its users.

Carbon operates as Carbon Microfinance Bank (RC 1642222), ensuring its legality and trustworthiness. It is fully licensed and regulated by the Central Bank of Nigeria (CBN) and its deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC), providing a secure environment for user funds and transactions. The company emphasizes transparency, as indicated by its detailed loan information and cookie policy.

The Carbon app is available for download on both Google Play Store (Android) and Apple App Store (iOS), making it widely accessible. Users benefit from a straightforward registration process. Support is comprehensive, offered via in-app email, phone (02013301808), and a dedicated help center/knowledge base, ensuring users can get assistance readily for any inquiries or issues.