Some exciting news for salary earners today. Paylater now offers payroll loans to their employees, via the Paylater app! TIn a statement made known to Brand Spur Nigeria, there are 250+participating employers on its platform.
Paylater® is a simple, entirely online lending platform that provides short-term loans to help cover unexpected expenses or urgent cash needs. With just an Android device and basic requirements, you can apply for a Paylater loan 24 hours a day, 7 days a week with a quick application process that lets you know your status within minutes.
According to its management, “If your current employer is listed and your salary is being paid through a OneFi-affiliated Payroll Processing company, you may be eligible for up to 80% more than your normal loan offer if your information can be successfully validated”. The Fintech company promises to keep adding new employers as quickly as possible in the next few months.
Here is how to apply:
1) Check to see if your employer is on this list
2) If so, simply update your Paylater app, apply and agree to have your repayments deducted automatically from your salary account on the due date(s). In your app, you’ll see a display like this one below.
3) Receive cash in your bank account instantly. It’s that easy. 💰
REFER A FRIEND, GET CASH
Even if you don’t work at one of the listed companies, you can still get involved! If you invite a friend that works at one of these companies, we’ll give you a ₦500 discount* for each person you refer.
If you already have the app, you can share your referral link by clicking here.
CAN’T FIND AN EMPLOYER?
Not to worry! We’ll add on new employers as quickly as we can, so keep checking the list of participating companies for updates, or to speed things up — harass your HR to come and talk to us.
HERE’S A FEW KEY THINGS TO NOTE
- Repayments are made directly as deductions from your company salary account on the agreed payment date(s).
- We’re offering 1- and 3-month loans. The loan amount that can be accessed depends on your current salary.
- Initially, we’re making this available only to people who have never previously received a Paylater loan. If you’ve had unsuccessful Paylater applications to date or never applied, make sure you try this out!
- We’ve updated our Terms and Conditions to reflect a few changes brought about by this new service. These will go into effect from May 1st, 2018.