With the Palm Credit loan app, users can secure fast and reliable loans within minutes. Now, you do not have to go through the traditional means of standing in queues and providing collateral. With your smartphone, you can get the money you need to cover your expenses on the PalmCredit platform.
Here is all you need to know on how to borrow money on Palm Credit loans.
What is Palm Credit Loan?
PalmCredit, owned by Newedge Finance Limited, is an online platform that allows users to borrow money without a hassle. It is one of the best platforms to get reliable loans in Nigeria.
Palm Credit aims at making money easily accessible to users. It builds its users to be financially free by giving them access to cash when the need arises.
Is Palm Credit Loan Good?
Palmcredit is one of the best platforms to get fast loans. The platform offers loans with a favorable repayment period and interest rate.
Also, when you successfully apply, you can get approved within an hour.
Further, Palm Credit is a secure platform to use. The company does not share its users’ data with third parties.
Does PalmCredit Have a Website?
Currently, the PalmCredit platform does not have a website. Users can only apply for loans using the mobile app.
See the guide to download and apply for loans on the Palmcredit app below.
How Much Can I Borrow on PalmCredit?
As a new user, you can borrow a high amount of loan. Palm Credit offers loans from ₦10,000 to ₦300,000 and 91 days to 365 days terms. And, when you pay back the loan on time, the loan limit will increase, lower your interest rate, and build your credit.
To borrow money on Palmcredit, you do not need to fill out any paperwork. All you need is a smartphone to carry out transactions.
PalmCredit Loan Interest Rate
Palmcredit, compared to other loan platforms, charges a fair interest rate. Below are the interest rates:
- Estimated monthly interest rate = 4% – 4.7%
- Loan interest rate = 45% – 24%
- Annual percentage rate (APR) = 24% – 56%
What Do I Need to Get Loans on PalmCredit?
Getting loans on Palm Credit does not require collateral and credit history.
The Palm credit loan requirement include:
- BVN
- A valid bank account
- A phone number
Also:
- Applicants must reside in Nigeria.
- Applicants must be 18 to 60 years.
PalmCredit Loan Login
To borrow money on PalmCredit you need to download the app and login to your account. If you are a new user, you must create an app account.
To login:
- Open the app
- Enter your phone number and password.
- Click on Login.
How to Apply for Loans on Palm Credit Loan App
- Open the app.
- Register. Fill out your information and bank details.
- Click on Apply Now.
- Choose a loan amount and term.
- After approval, the loan will be disbursed to the account you provided.
Download the Plam Credit Loan App for Android
Follow this guide to download the PalmCredit app on Google Play Store.
- Go to Play Store.
- Go to search and enter Palmcredit. Search.
- Click on Install when the app is displayed.
Download the Palm Credit Loan App for iPhone
Currently, the Palmcredit platform does not have an iOS app version. It is only available for Android users.
We will update you when the iOS version is available.
PalmCredit Loan Customer Care Number
Contact Palmcredit on:
- Customer care number: 017001000
- Email: Palmcredit.support@newedgefinance.com
- Facebook: https://www.facebook.com/palmcredit/
- Instagram: https://www.instagram.com/palmcreditofficial/
- Linkedin: https://www.linkedin.com/company/palmcreditNG/
