When will talk about Palmcredit, what comes to your mind? In this post, we are going to elaborate more on this topic.
Palmcredit is an instant online personal loan or (virtual credit card) that offers loans between 200,000 and 300,000 even as new and old customers without collateral. This company is owned by Newedge Finance Limited where you can get a loan without collateral within minutes without having to worry about providing any collateral.
Let’s look into this:
–Palmcredit loan website.
–Is my BVN safe with Palmcredit.
–Palmcredit loan app USSD code for loan in Nigeria download.
–Palmcredit loan app USSD code for loan in Nigeria login.
–Palmcredit customer care.
Requirements To Apply For A Palmcredit Loan
Before you can log in, register, and apply for a Palmcredit loan, you must provide the following requirements listed in this post.
- A mobile smartphone
- An active account
- A BVN
- Below 18 and above
A mobile smartphone:
You can only have access on login or apply for a Palmcredit loan when you have a mobile phone, where you can download the Palmcredit mobile app.
An active account:
You are demand to open an active and current account on Palmcredit or any of the licensed banks before you can apply for a loan. An account that is up to 3 months and above.
Your bank verification number (BVN) will be demanded from you before you can be approved for a Palmcredit loan. It is a necessity for all who wish to apply for a loan.
Some may be asking, is my BVN safe with Palmcredit? Yes, your BVN is in safe hands because Palmcredit is licensed by CBN to operate as a finance company in Nigeria.
Below 18 and above:
Before you can apply for a loan in Nigeria, you must be 18 and above. Likewise, when applying for Palmcredit loan.
How To Get PalmCredit Loan App
To download the Palmcredit app, click on the “Google Play Store” on your Android device > Search for the “Palmcredit” loan app > Click on the “install’ button > After installation, open the app to create an account.
This is how you can log in/ sign in to Palmcredit: download the Palmcredit mobile app through your Google Play store. Install and log in.
- Enter your personal details such as name, date of birth, gender and so on.
- Input your phone number.
- Then, an OTP will be sent to your phone.
- Enter your bank account number and other details.
- Agree to terms and conditions.
Once you are done, you can now use the mobile app instantly. Congratulations, you can use the Palmcredit mobile app.
PalmCredit Loan Amount Limit
The PalmCredit Loan app’s minimum loan amount is NGN 10,000, and the maximum loan amount is NGN 300,000 in Nigeria.
How To Apply For Palmcredit Loan
Follow these steps to apply for a Palmcredit loan:
- Once the app has been downloaded on your mobile phone.
- Sign up and complete your registration by following the instructions and prompts by providing all the necessary details requested.
- Set up your “Bank Information”.
- Fill in “Education and Employment” with your details.
- You will need to verify your phone number. Palmcredit will send a token code to the phone number you signed up with, which you will need to enter into the Palcredit app to complete the verification process.
- Apply for a Palmcredit loan by clicking on the “My Loans” option.
- Then, click “Request for loan“. Wait to get loan approval, which takes a 1 to 2 minutes.
Once your loan is approved, your bank account will be funded with the loan.
PalmCredit Loan Interest Rate
PalmCredit offers the best interest rates for loans between 4% to 24% E.g If you choose a 6-month loan and borrow NGN200,000, Plamcredit charges an interest rate of 4% per month. If you do your calculation, your interest for the whole 6 months is NGN48,000. So, you are paying a total of NGN 248,000 after 180 days.
For example, if you borrowed just NGN 10,000 for a one-month term and the interest rate is 20%, your interest will be just NGN2,000. So, you are paying back NGN 12,000.
How To Repay PalmCredit Loan App
You can get many options when it comes to repaying your loan. You can either pay via bank transfer, debit card, or USSD code.
But note: PalmCredit does not offer any USSD Code services for its loans. It is not used for now.
PalmCredit Loan Repayment Duration
PalmCredit offers loan terms ranging from 7 – 180 days. So, the loan is repayable for a week, a month, two months, or six months.
PalmCredit Loan OverPayment
If you overpay your loans, especially those that use bank transfer, you have to notify PalmCredit customer service in order to return the money back to you. If you notify them and they verify the transaction, you will receive a refund back in your dashboard and you can withdraw this amount anytime.
Also, see: Loan
Palmcredit Customer Care
Would you like to contact palmcredit?
Palmcredit customer care is available on Facebook:
You can also contact them via Email address: [email protected]
or on their service Hotline 017001000 (8 am – 5 pm, Mon-Fri)
Visit their office which is located at Ogunnusi Road beside the county hospital, Ogba, Lagos, Nigeria.
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