Palmcredit loan app is an online loan service that provide eligible Nigerians with quick cash without paper work or collateral. With the palm credit loan app, you will be able to apply for a loan and get paid to your Nigeria bank account at the comfort of anywhere you might be.
In this guide, I am going to provide you with everything you need to know about the palmcredit app, how it works, how to use all the services provided by the app and all the basic information you should know about any loan app in Nigeria.
Palm credit loan app is an online loan app in Nigeria as said in the previous part of this guide and allow you get instant cash when you need it.
With the palmcredit app, you will be able to borrow money online, apply an instant loan with a flexible repayment plan and favorable interest rate. That’s if the repayment schedule and the interest rate is ok with you anyways.
Palmcredit loan interest rate
The amount if loan that palmcredit offers ranges from 10,000 naira to 300,000 naira with the interest rate of 4% to 24%, depending on the loan terms.
Loans interest rate is 4% to 24% and stated above, the equivalent monthly interest is 4% to 4.7% while the annual percentage rate (APR) on a Palmcredit loan is 24%~56%.
How palmcredit loan interest rate is being calculated
On palmcredit, If you choose a 6-month loan and borrow NGN100,000, Plam credit charges an interest rate of 4% per month. Borrow NGN interest rate: 24% and the APR is 48%.180 days repayments of NGN24,000.Total amount payment is NGN124,000.
Requirements to get your loan approved on palmcredit
One thing is to register on the app and another this is to submit your loan application and get approved. There are some factors that will be put into consideration before you can be any to get a loan from palm credit and in this section, I am going to provide you with the outmost tips to get your loan approved on palmcredit loan app.
Below are the requirements:
1. You must be a Nigerian and reside in Nigeria. Above all, you will need Nigeria bank account and this is where your loan will be sent to if approved.
2. You must be of 18 to 60 years old for you to be able to get a loan from the app.
3. You must provide valid information during your registration.
4. You must have a considerable rate of inflow and outflow transactions on your account, this will help in determine your credit score.
5. A good source of income.
Palmcredit registration – How to register on Palm credit loan app
Simply Navigate to the download section of this guide and get the app installed on your mobile phone, open the app and read the displayed texts, then click on the agreement box to tick it and click on the agree and continue button.
Once you clicked on the agree and continue button, the app will request for some permission, allow all the permission and consent to the app terms and conditions. Enter your cell phone number and an OTP will be sent to the provided phone number, enter the OTP to continue to the next step. Set your account password on the next page, it should consist of four digit code.
Enter your name and the desired loan amount and click on let’s begin button. Fill all the basic information required to complete your registration and continue to submit your first loan application.
To login to your palmcredit loan account, all you have to do is to open the app and you will be redirected to your account if your login session hasn’t expired.
If your login session has expired, you will see a box requesting for your password, enter the six digit password you set during the registration and you will regain access to your account immediately.
How to apply for a loan on Palmcredit
To apply for a loan on Palm credit, all you have to do is to login to your account and navigate to your account loan area. Submit a new loan application and wait for the review process to complete. If your loan application is approved, the money will be sent to the provided bank account.
As a New registered member, once you complete your profiling, you will be taken to where to apply for a loan directly and you will be abt to submit your first loan application.
How to repay palmcredit loan
To repay your loan on Palmcredit loan app, all you have to do is to login to your account and navigate to the loan area, you will see the detailed breakdown of your outstanding loan. This includes the repayment date, due date and the repayment option.
Click on the repay button and you will be redirected to the app payment page, select your preferred payment method and follow the prompts to comply the repayment.
Palmcredit loan APK download
Having known how the palmcredit loan app works and and to have access to it’s product and services, the next thing is to get the app installed on your mobile phone and in this section, I will provide you with the direct link to download the palm credit loan APK and how to get it installed on your mobile phone for further exploration.
Name Palmcredit loan APK
Version Latest Version
Service Loan Provider
How to install Palmcredit loan APK
Simply download the APK file from the link provided above, open your phone and navigate to the phone’s gallery. Open your phone gallery and navigate to the download folder.
Locate the file you download and click to open it, you will see an install button, click on it and wait for the installation process to complete.
Palmcredit loan app download
In this section, I will provide you with the direct link to download the app from Google play store. This will allow you to compare the both download option and choose the one that is best and convenient for you.
Name palmcredit loan app
Version Latest Version
Service Loan Provider
Palmcredit loan customer care number
If you encounter any issue on the app, the best thing is to contact the app customer service and let them get the issue resolved for you or rather provide you with the possible actions you can take to get the issue resolved.
• palmcredit contact number: 017001000 (9am – 6pm(Mon-Fri), Sat-9am-5pm)
• Service Email: [email protected]
• Facebook : https://www.facebook.com/palmcredit/
• Linkedin: https://www.linkedin.com/company/palmcreditNG/
• Instagram: https://www.instagram.com/palmcreditofficial/
Above are all the available medium with which you can get in touch with the palmcredit customer care.
Palmcredit loan review
Palmcredit loan app has been able to generate more than one million download and overall star rating of 4.3. this implies that the app is good at what it does and Worth trying out to some extent.
However, some of it’s customer has complained about the app inability to process loan repayment on time, in such a way that you might have repaid a loan and it will not reflect for some period of time. This will cause the app to label you as a loan defaulter is you probably made the repayment on the due date and it’s reflection is delayed.
Conclusion: palmcredit loan app provides Nigerian wit quick loan and help you to have easy access to personal loan without any paperwork or collateral. With the detailed information provided in This guide, I am sure that you should be able to use the app without any form of issue.