Palmcredit is one of the legit online loan app in Nigeria, with palm credit you can obtain loan of up to #500,000 without collateral or guarantor and you know what the loan is instant, once your application is approved the loan will be disburse into your account in minutes.
What is palmcredit
Palmcredit is own by Newedge Finance. It’s a loan app that give loan to people in Nigeria and not only that you can also buy call credit and make payment with the app.
Requirements to get loan form palmcredit
Like other many loan app in Nigeria, before you can secure a loan from palmcredit you need to meet up with the following requirements.
Have BVN and have bank account
Have good credit score
You must be above 18years of age
You must be a Nigerian and reside in Nigeria
You must have ATM card
You must not have defaulted on any loan before
How to apply for palmcredit loan
To apply for laon head over to play store and download palmcredit app
Launch the app and register with your name and other details
You will be ask to submit your ATM card detail and BVN, do so
Once you are login, locate and click on loan option
There you will see the amount of loan you can take
Click the loan and wait for disbursement
Ussally it takes between 10 to 30 minutes for your loan to be disburse if everything is right.
Palmcredit ussd code
Another way to obtain loan from palmcredit is to dial their ussd code, it is fast and easy, you don’t need to go through any registration just dial the code on the sim connected to your bank account. Palm credit USSD code is *561#
Once you dial it locate loan and select it , the rest of the steps is simple just follow the prompt.
How much you can obtain from palmcredit loan
You can obtain up to #1,000,000 from palmcredit but as a first timer you will not get up to this, but as you take loan from them and pay back on time your credit score will increase and you will be able to get more loan.
Interest rate and repayment period
Palmcredit interest rate is between 14% to 25% depending on the amount of loan obtain and the credit score. The repayment period is between 1 month to 3 months.
Palmcredit loan repayment
You can pay back your loan on palmcredit with ATM card, or request for their account number by contacting them. If you are sending money to their account number ensure you have the correct number to avoid story that touch.
Is palmcredit legit?
Yes, palm credit is legit, many people have obtain loan from them, you can check play store to see many review.
What I like about palm credit
Their loan disbursement is fast
You can get their loan with ussd code, which means less registration
They have among the loan app with the less interest rate
What I don’t like about the loan app
First timer are not taken serious
First timer will have small loan offer and higher interest rate
Their repayment period is in months not year
Palmcreit contacts
Phone no
0700 7256 4357
Conclusion
Though it is now easy to obtain loan in Nigeria, I will advice you to take loan that you can pay back to avoid trouble.
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