In the 2+ years that Paylater has been around for, despite our many service offerings, the main goal has remained to make money work for all people.
One of the ways we do this is by providing credit through Paylater loans.
Starting out, one of the conditions for eligibility to apply for and access Paylater loans was that the user must be at least, 21 years, and at most, 55 years of age. As we grew, our data did too, and it reflected a part of the demographics of our audience that were interested but unable to access one of our offerings – Paylater loans.
Before today, Paylater users below the age of 21 and above age 55 only had access to the bill payments, transactions, and investments features.
We’re excited to announce that that has changed. People who are age 18 to 60 can now apply for and access Paylater loans!
Paylater users aged 18 – 20 will be provided with loan offers starting at N1,500 with gradual increases after on-time repayments.
The max application limit – 2 loans every 30 days will not apply to these particular users.
We’re pleased to have taken this step in empowering younger and older users with credit to make their lives and businesses better.
As Paylater continues to grow, more and more changes will be made to help users and prospective users have active and healthy financial lives.
You can also help by leaving us reviews and feature suggestions – we always look forward to hearing from you.