Wondering how to increase your loan limit on Paylater? You’re not alone. Many Nigerian users seek higher credit access for emergencies, business, or personal needs. This definitive guide provides expert tips and proven methods to help you achieve that goal.
Understanding the factors that influence your limit is the first step. Platforms like Paylater (now Carbon) and others such as FairMoney and Branch use specific criteria to determine your creditworthiness. By following this complete guide, you can take practical steps toward securing a larger loan limit tailored to the Nigerian financial context.
Requirements / What You Need
To successfully apply for a loan limit increase on platforms like Carbon (Paylater), FairMoney, or Branch, you need to have the following ready. This preparation is key, especially with common Nigerian challenges like network issues or using cyber cafés.
- A Fully Verified Account: Your profile must be 100% complete. This is non-negotiable.
- Valid Nigerian Identification: Your Bank Verification Number (BVN), National Identification Number (NIN), International Passport, or Driver’s License.
- An Active Nigerian Bank Account: The account must be in your name and linked to your BVN.
- A Stable Source of Income: While not always a formal document, be prepared to demonstrate regular transactions into your bank account.
- Access to Your Registered Phone & Email: You will receive OTPs and verification links. Avoid using a cyber café for this sensitive process.
A major point Nigerians often misunderstand is that a BVN is not a direct payment instrument; it’s for identity verification. Also, there are typically no direct fees (₦0) charged by the app just to request a limit review. Any charges come later as interest on the actual loan you take.
Step-by-Step Process
Step 1: Log In and Navigate to Your Loan Dashboard
Open your loan app (e.g., Carbon, FairMoney) and log in securely. Avoid using public Wi-Fi at spots like restaurants or cyber cafés for this. Go to your account section or dashboard, often labeled “Loan” or “Credit Limit.” Look for an option that says “Increase Limit,” “Get More Funds,” or “Loan Limit Review.” If you don’t see it immediately, it may be because you’re not yet eligible, so don’t panic.
Step 2: Review Your Current Profile and Update Information
Before you apply, the app will prompt you to review your personal and employment details. Update any outdated information, such as your monthly income, employment status, or even your address. Be brutally honest and accurate. A common mistake is inflating your income; the app cross-checks this with your transaction history, and discrepancies can lead to an automatic decline or even account flagging.
Step 3: Submit the Request and Grant Necessary Permissions
Once your profile is updated, submit the formal request for a limit review. The app will typically ask for renewed permission to analyze your financial data. This includes accessing your SMS for bank transaction alerts (to assess cash flow) and sometimes your phone’s location. Grant these permissions to proceed. Be aware that network issues (“No Network” or “Service Unavailable” errors) are common in Nigeria; if this happens, try again during off-peak hours like late evening.
Step 4: Wait for the Automated Review and Decision
After submission, an automated system will review your request. This is not a manual process by a human officer. The system re-evaluates your entire history: repayment consistency, account activity, and updated profile data. This can take from a few minutes to 72 hours. Do not bombard the app with multiple requests during this period, as it can disrupt the process. The result will be sent via an in-app notification and SMS.
Step 5: Accept the New Terms (If Approved)
If your request is successful, you will receive an offer showing your new, increased loan limit and the revised interest rate. Carefully read the new terms before accepting. The new limit is not automatically activated until you accept these terms. If you are not satisfied with the new rate, you can choose not to accept, but your limit will remain at the previous level.
Alternative Methods
While the primary method to increase your Paylater limit is through the app’s automated review, some platforms offer alternative paths, especially for users facing specific issues.
For instance, if you encounter persistent technical glitches like “BVN not verifying” or your account is flagged, your best alternative is to use the official in-app customer support chat. Explain your issue clearly to a live agent; this is often more effective than visiting a physical office, as many digital lenders in Lagos or Abuja operate primarily online. Use this method when automated systems fail.
Another key alternative is not app-specific but credit-wide: building your credit profile with other institutions. Consistently using and repaying loans from other licensed digital lenders or even your bank (like GTBank or Zenith) can indirectly improve your profile. Some advanced credit scoring systems in Nigeria, like the CRC Credit Bureau, aggregate this data. A stronger overall credit history can positively influence your limit during the next automated review on any platform.
Common Problems and Solutions
Problem: “BVN Already Linked to Another Account” Error
This is a frequent issue where your BVN is tied to an old phone number or a different account on the same platform. It often happens if you switched SIM cards or tried creating multiple accounts.
Solution: Do not attempt to create a new account. Immediately contact the app’s customer support via the help section. You will need to verify your identity by providing a clear photo of your valid ID and possibly a selfie. They will merge or deactivate the old account, freeing your BVN for proper use.
Problem: Persistent “Service Unavailable” or App Crashing During Review
Network congestion, especially during month-ends or on Glo/MTN networks, can cause the app to fail during the crucial limit review submission.
Solution: First, ensure your app is updated from the Google Play Store. Try the process again very early in the morning (e.g., 5-7 AM) when network traffic is low. If it persists, switch your internet connection—if using mobile data, try a Wi-Fi hotspot, and vice versa. Clear the app’s cache from your phone settings as a last resort.
Problem: Request Denied Despite Good Repayment History
You’ve repaid previous loans on time, but your limit increase request is still declined. This is frustrating but common.
Solution: The algorithm looks beyond repayment. Check your linked bank account’s transaction history. If your account has been inactive (no regular inflows/outflows) or shows frequent insufficient funds alerts, the system sees you as a higher risk. The solution is to actively use that account for regular transactions for at least 30-60 days before requesting again, to demonstrate financial stability.
Fees, Costs and Timeline
Officially, requesting a loan limit review costs absolutely nothing (₦0). Reputable platforms like Carbon, FairMoney, and Branch do not charge an application or processing fee for this service. The only costs you incur are the interest and any applicable management fees when you eventually draw down a loan from your new limit.
Be extremely wary of individuals, especially on social media or in local business centres, who claim they can “fast-track” your limit increase for a fee (e.g., ₦2,000 – ₦10,000). This is a scam. The process is fully automated, and no agent has special access to influence it.
The realistic timeline for a decision is instant to 72 hours. If it takes longer than 3 business days, it’s likely an automatic decline. Note that your location in Nigeria (e.g., Lagos vs. a rural area) does not affect the fee or timeline, but network quality might.
Warnings and Scams to Avoid
- Agents or “Gurus” Promising Guaranteed Increases: No individual can manually increase your limit on apps like Carbon or FairMoney. Anyone on WhatsApp, Facebook, or in a market claiming this for a fee (₦) is running a scam. The system is fully automated.
- Fake Customer Service Numbers and Portals: Scammers create fake blogs and ads with counterfeit support numbers. Always use only the customer support chat or contact details within the official app itself. Never call a number sent to you via SMS from an unknown sender.
- Requests for Your OTP, PIN, or Banking Password: Legitimate platforms will never ask you to disclose your transaction PIN, OTP, or internet banking password. Anyone asking for these details, even if they claim to be from “verification department,” is a fraudster.
- Upfront “Processing Fees”: As stated, a limit review is free. Any request for an upfront payment via bank transfer, airtime, or cryptocurrency to “process” your application is a definitive red flag.
Acceptance, Use and Next Steps
Once you accept your new loan limit, the funds are not automatically credited to you. The increased limit simply means you can now request a loan up to that new, higher amount directly within the app. This credit is accepted anywhere in Nigeria that accepts cash or bank transfers, as the loan is disbursed directly into your linked Nigerian bank account for you to spend as needed.
Your immediate next step should be to practice disciplined borrowing. Only take a loan for a clear, necessary purpose—like a business inventory purchase, urgent medical bill, or a planned expense—and ensure the repayment schedule fits your income. A higher limit is a tool, not a target to be maxed out.
Honestly understand the limitation: an increase is not permanent. Your limit can be reduced by the system if you start missing repayments, your account activity drops, or your overall financial behavior deteriorates. To maintain or further increase your limit, continue making full repayments before the due date and keep your linked bank account active with regular transactions.
Frequently Asked Questions
How often can I request a loan limit increase on Paylater (Carbon)?
There is no fixed public schedule, but a reasonable and effective strategy is to request a review every 3 to 6 months, provided your financial behavior has improved. Requesting too frequently (e.g., every week) after a denial will not help and may be ignored by the system. Wait until you have a consistent record of on-time repayments and better account activity.
Will increasing my limit also increase my interest rate?
Not necessarily, but it is possible. The interest rate is determined by your individual risk profile. If the system sees you as very reliable, you may get a higher limit with the same or even a lower rate. However, a significant increase might come with a slightly higher rate. You will always see and must agree to the new terms before the limit is activated.
Why was my limit decreased instead of increased?
A limit decrease is a clear signal from the algorithm that your risk profile has worsened. Common Nigerian reasons include: missing a repayment deadline (even by one day), having frequent insufficient funds (NSF) alerts in your bank account, or a long period of inactivity on the app. To reverse this, return to consistent, timely repayments.
Can I increase my limit without a BVN?
No, it is virtually impossible. Your BVN is the primary tool for identity verification and checking your financial history across banks in Nigeria. No legitimate digital lender approved by the CBN will offer a meaningful loan limit without BVN verification. Any platform claiming to do so is likely unlicensed and high-risk.
Does my bank statement affect my Paylater limit?
Yes, indirectly. While you don’t upload a statement, the app analyzes your SMS for bank transaction alerts (with your permission) to assess cash flow. Regular inflows (salary, business income) and a healthy account balance build a positive profile. An empty or dormant account, or one with constant overdrafts, will negatively impact your limit review.
What is the highest loan limit I can get on these apps?
Limits vary by platform and individual. For established users with excellent profiles, limits can go up to ₦1 million on some apps like Carbon or FairMoney. However, most new users start between ₦10,000 and ₦50,000. The “highest” limit is earned over time through impeccable repayment history and demonstrable financial stability.
Disclaimer
This article is for informational purposes only and does not constitute financial advice. Loan terms, interest rates, and eligibility criteria are set solely by the respective digital lenders and are subject to change. We are not affiliated with Carbon (Paylater), FairMoney, Branch, or any other financial institution. Readers are advised to consult the official terms and conditions of any lending platform and make independent financial decisions.