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Loan

Palmcredit Loan Nigeria

Everything you need to know about Palmcredit Loan Nigeria is brought to you in this article. How you can download the app and apply, the requirements for the loan, the interest rate and how you can repay and other necessary information about Palm credit loan have been fully digested in this post.

Palmcredit Loan Nigeria

Requirements

The basic requirements for Palmcredit loan is just your android enabled phone and definitely an access to the internet.

Nonetheless, you must also meet the following criteria:

  • You must be between the ages of 18 and 60.
  • A bank account with a BVN
  • A valid phone number.
  • It is also required that you have a valid means of identification.

How to apply

Palmcredit offers two kinds of loan:

Palmcredit Airtime Loan which you can borrow up to N10, 000 airtime to repay within 2 weeks.

Palmcredit Installment Loan, which you can borrow from N2000 to N100, 000 loan.

You can get either loans by simple taps from your mobile phone. To apply for the Palmcredit loan follow the simple steps laid out below:

  • First, download the Palmcredit loan app
  • When you have installed the app click on the Apply for loan
  • Enter your phone number (a verification code will be sent to the number, so make sure its a working number).
  • Fill other necessary valid information in the fields available after the phone number verification.
  • Now submit your application.

NOTE: Your application is bound to be either accepted or rejected. So you must have maintained a good credit history to stand a chance of getting the Palmcredit loan.

Interest Rate

The interest rate of Palmcredit loan ranges from 14% to 24%.


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Repayment

There are two ways by which you can repay the Palmcredit loan.

First, you can pay directly on Palmcredit app

  • Open the app and navigate to the “menu“
  • Click the “my loan” button to proceed.
  • Tap on the “Outstanding“ button
  • Now, click on “Pay now“.
  • Finally, enter your Palmcredit PIN

You can also pay by cash deposit into the Palmcredit bank account.

To use this method of repayment, visit any  Access Bank and pay in according to the account description below:

Account name: Transsnet Financial Nig LTD – Consuming Finance

Account number: 0772692676

After making the bank deposit, send a proof of the receipt to repayment.ng.pc@transsnet.com for verification.

Pros & Cons

ProsCons
  • Flexible repayment options
  • The application process is easy and fast.
  • The interest rate is relatively high.
  • They only offer micro credit.

Mobile App

Yes, to apply for Palmcredit loan, you must download the mobile application. To download the android application, go to Google Playstore or you can simply click here.

Customer Care

You can contact the Palmcredit loan customer care anytime you run into hitches on this number:

+234 700 7256 4357

Official WebsiteN/A
Contact Number+234 700 7256 4357

Branches & Head Office

N/A


Here are More Banks offering Loans in Nigeria: Bank Of Industry Loan,Fint Loan,Federal Government Loan Scheme For Youth