Carbon

Carbon offers a fast, mobile-first banking experience with instant loans, savings, and bill payments—all under CBN regulation. With 3+ million users and NDIC-insured deposits, it caters to Nigerians seeking convenience and speed. Though it lacks Trustpilot reviews, its features and security measures make it a reliable option for modern digital banking.

Global ★ 4.0/5 Security: B
★ 4.0 Rating
3M Downloads
1.5% Pricing
B Security

Overview

Carbon is a Nigerian financial services provider specializing in instant loans, Buy Now Pay Later services, and savings solutions. Licensed and regulated by the Central Bank of Nigeria (CBN), Carbon operates as a microfinance bank serving over 3 million customers across Nigeria.

The platform caters to individuals seeking quick access to credit, digital banking services, and investment opportunities. Carbon offers NDIC-insured deposits and operates under RC number 1642222. The company targets young professionals, entrepreneurs, and anyone needing fast, reliable financial services without traditional banking bureaucracy.

Carbon’s mobile-first approach makes banking accessible to Nigeria’s growing smartphone user base, offering services that traditional banks often struggle to provide efficiently.

Key Features

Instant Loans

Quick loan approval and disbursement

Carbon Zero

Buy now, pay later service

High-yield Savings

Competitive interest rates on deposits

Mobile Banking

Full banking services via mobile app

Debit Cards

Physical and virtual card options

SME Loans

Business financing solutions

Bill Payments

Utility and service payments

Free Transfers

Zero-fee money transfers

Pros & Cons

Advantages

  • Instant loan approval process
  • NDIC insured deposits
  • Over 3 million satisfied users
  • CBN licensed and regulated
  • Free money transfers
  • User-friendly mobile interface
  • Multiple financial products in one app

Limitations

  • Limited Trustpilot reviews for transparency
  • Nigeria-only service availability
  • Occasional maintenance issues
  • Higher interest rates for some loan products
  • Limited physical branch presence
  • Requires smartphone for full functionality
  • Customer support response times vary

Security Features

Compliance with Nigerian banking regulations

Multi-factor authentication

Regular security audits

Risk Management

Pricing & Fees

ServiceFeeDetails
Instant Personal Loans1.5% - 15% monthlyBased on credit score and loan term
SME Business Loans2% - 12% monthlyVaries by business profile and amount
Carbon Zero (BNPL)0% - 5%Interest-free periods available
Savings AccountFreeNo maintenance fees
Money TransfersFreeWithin Carbon network
Debit Card₦1,000 annuallyPhysical card issuance
Bill Payments0% - 1%Most utilities are free, but some merchants charge

Getting Started

1. Download the App
Get Carbon from the Google Play Store or the Apple App Store using the provided download links.
2. Create Your Account
Provide basic personal information including full name, phone number, email address, and BVN for verification.
3. Complete KYC Verification
Upload valid ID documents (National ID, Driver's License, or Passport) and take a selfie for identity confirmation.
4. Set Up Security
Enable biometric login, create a secure PIN, and set up two-factor authentication for enhanced account protection.
5. Fund Your Account
Add money via bank transfer, debit card, or through Carbon agents to activate your account.
6. Start Banking
Access loans, savings, transfers, bill payments, and other financial services through the mobile app interface.

Detailed Ratings

Digital Banking
8.5/10

Final Verdict

Carbon delivers a solid digital banking experience for Nigerian users seeking quick financial solutions. With over 3 million users and CBN licensing, it demonstrates reliability and regulatory compliance. While lacking extensive Trustpilot reviews, the platform’s growth and regulatory standing suggest customer satisfaction. The comprehensive feature set and competitive pricing make it valuable for modern banking needs, though users should consider the higher loan interest rates.