Carbon loan ussd code: How to get loan from carbon - Startuppreneur

Carbon loan ussd code: How to get loan from carbon

Carbon has been in the loan industry for a long time since 2012, though they were not known as Carbon their name then was OneFinance and Investment limited which was later shorten to Onefi, it is in this Onefi that carbon loan spring up.

Like other loan company of that time they gear up and move to app loan, which proof to be better and easy than physical loan disbursement, you don’t need to meet the person you are given loan to, you only need their BVN and with one click they will take the loan and pay back.


According to survey we carried out on Facebook, Carbon and Fairmoney are currently the best loan app in Nigeria, they do not harass their customer on social media or send provocative message to the family of those that defaulted, but all the same they have a way of collecting their money from the defaulters.

Carbon loan ussd code

Requirements for carbon loan

Like many other loan app in Nigeria, before you can get a loan from carbon you need to meet up with the following requirement


You need to have smart phone, with which you will download the app

You need to have a BVN and bank account

Your credit score should be good

You need to provide your ATM card details
Other information needed are

  • Email
  • Name
  • Phone number

Amount you can borrow from carbon

You can borrow up to 1 million naira form carbon and as low as #1,500. As a first timer you won’t be able to get upto this amount, usually you will start with #10,000 but as you borrow borrow and pay back regularly, your credit score will increase and you will be able to obtain high amount of loan.

How carbon loan works

It is simple, once you download the app and request for loan, you will be ask to submit your bank account with which your loan will be disburse into and in minutes of application your account will be credited.

You will also be ask to link your ATM card, in case you did not pay on time the loan will be deducted from your bank account automatically.

The most interesting thing about this loan app is that you don’t need collateral or paper work just the app and bvn.

Sections you will see on Carbon loan app

Apart from getting loan from carbon, you can also save and make free transfer, below are the section on the app

Loan section
This where you go if you want to obtain loan

Payment section
If you want to send money to someone, or buy airtime, data pay electricity bill and others this is the go to section, as at the time of writing this article the transfer is free.

Transaction section
This is where you see all the details of financial transaction you carry out on the app

Financial tool/ saving section
Here you can save your money, and get annual interests from It. The interest rate can be as high as 15% depending on the duration of saving.

How to get a loan from Carbon

The first thing to do is to download Carbon loan form play store for android user and app store for iPhone for iPhone users

Register by filling in your details and set up your password

At a Point of the registration, you will be asked to upload your picture which you can snap with your phone or upload it from gallery

Locate and click on loan on your dashboard
If you have good credit score the amount you can loan will be shown and the duration.

Though the starting loan amount for first timer is #10,000. If you use to transfer and receive large sum with your bank account the amount will be more than this.

Carbon loan USSD code

Another way to get loan from Carbon is the use of USSD code. This method is very fast and requires less registration. The loan will be disbursed directly into your account.

The Carbon loan USSD code is *1303# it works on evey network in Nigeria but make sure you dial it on the network connected to your bank account.

Other Carbon USSD code are

*1303*3*Amount*Phone No# dial this code if you want to transfer to other carbon wallet, yes carbon has a wallet where you can save your money

*1303*4*Amount*Acct No# dial this code when you want to transfer money from carbon to a bank account

To fund wallet using a GTB account dial *737*22*Amount#

To fund wallet using a Zenith account dial *966#

Carbon loan interest rate and payback period

Carbon loan Interest rate is between 1.5% to 30% depending on the amount of loan you request for and the pay back period. Payback period is usually between 30 days to a year.

How to pay back carbon loan

You have two method to pay back your loan, you can either set the loan payback to automatic where the loan amount plus Interest will be automatically deduct from your account.

You can also transfer the loan amount to your carbon account or add money through ATM card.

Is carbon loan legit?

So far Carbon and Fairmoney has been the best loan app in Nigeria. Carbon has more than 1 million download on play store and a rating of 4.4 star. Carbon is regulated by CBN and insured by NDIC.

NDIC (Nigeria Deposit Insurance Corporation) is an agency that protect depositor in Nigeria. If any thing go wrong you can contact them, or contact CBN.

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