carbon loan app

Carbon loan app is offered by One Finance & Investment Ltd. The mobile loan app is available on the Google Playstore and is accessible to all Kenyans and has over 100M+ downloads as well as a 4.5/5 star rating with 63K+ reviews.

REQUIREMENTS

To be able to use the Carbon app, one needs to own a phone, be at least 18 years with a valid national ID and also be a registered Safaricom subscriber.

REGISTRATION PROCESS

Download, install and launch the Carbon mobile loan app.

Click on Register and input your names ( first name & surname ), date of birth, id number, email address and phone number.

Create & Confirm your carbon PIN, verify your phone number and finally accept the Terms Of Service.

LOAN APPLICATION PROCESS

Click On ‘Apply for a loan‘ and enable permissions. Afterwards, you will be required to fill in mandatory categories highlighted below.

  • Personal info – first, middle & surname, date of birth, ID number, gender, email address, marital status and number of children ( if any )

  • Education & employment- education level, employment status, employer/business name and monthly income.
  • Address details- residence type (rented or owned), current address, county, sub-county, rent per year and duration of stay.
  • Loan details- loan amount needed and reason.

Enable location access inorder to proceed and complete application.

Calculation of loan offer ( loan amount, repayment duration and interest )

Request for selfie and ID picture ( front & back )

View your loan summary, click Apply for loan, confirm application and Click ‘Submit

Confirm application by entering your PIN

LOAN AMOUNTS

Loans range from Ksh 400 to Ksh 50,000

INTEREST RATE

A Carbon loan attracts a one-off fee of 15% for the principal borrowed.

REPAYMENT DURATION

Repayment terms of up to 64 weeks.

REPAYMENT PROCEDURE

Use the ’Make a Repayment’ button on the ‘Your Loans’ page on the app.

APP PERMISSIONS

This app has access to:

  • Wi-Fi connection information- view Wi-Fi connections
  • Location- precise location (GPS and network-based) and approximate location (network-based)
  • Calendar- read calendar events plus confidential information
  • Camera- take pictures and videos
  • Device ID & call information- read phone status and identity
  • Phone- read phone status and identity
  • Storage- read the contents of your USB storage and modify or delete the contents of your USB storage
  • Photos / Media / Files- read the contents of your USB storage and modify or delete the contents of your USB storage
  • SMS- read your text messages (SMS or MMS)
  • Device & app history- read your Web bookmarks and history
  • Contacts- read your contacts

Other

  • Receive data from Internet
  • View network connections
  • Run at startup
  • Full network access
  • Draw over other apps
  • Prevent device from sleeping

LATE REPAYMENTS

Failure to pay off any loans taken trigger a notice to the consumer credit reporting agency which would negatively impact an individual’s credit score. Late payments can also affect your ability to borrow in the future.

OVER PAYMENTS

REPAYMENT DATE EXTENSION

None.

CONTACT DETAILS

Email- kenyacs@getcarbon.co

Twitter- @getcarbonKE

Instagram- @getcarbonKE