Palmcredit loan app review (Is Palmcredit legit/real?)
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Palmcredit loan app review (Is Palmcredit legit/real?)
Read all about Palmcredit loan app in this Palmcredit loan app review.
There are times in life when we urgently need money to solve a pressing issue, and maybe we can’t quite seem to get it from friends or family. The next best option is to get a loan.
Taking loans from commercial banks is a very stressful process, the paperwork and also the fact that you will need a collateral just puts off most people.
In the past few years, there has been an increase in the number of apps & platforms that offer small loans to students, entrepreneurs and business owners.
Palmcredit is an online loan platform that offers you loan without collateral and you can usually get this loan in minutes, as long as you meet all the requirements.
The palmcredit loan offers loan with relatively low interest rate and with little or no fees attached to your loans.
The palmcredit loan app is just one of the many online loan apps that offer you instant loans in Nigeria, others include Renmoney loan app, branch loan app and many others.
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Let’s get into it then…
Read my Lcredit loan app review
What is Palmcredit?
Palmcredit is an online loan platform that offers you loan without collateral and you can usually get this loan in minutes, as long as you meet all the requirements.
The palmcredit loan offers loan with relatively low interest rate and with little or no fees attached to your loans.
The palmcredit loan app is just one of the many online loan apps that offer you instant loans in Nigeria, others include Renmoney loan app, branch loan app and many others.
Palmcredit is a subsidiary of the group of companies named transsnet which is also a subsidiary of transsion holdings.
You can easily download the palmcredit loan app from the google playstore, it is not yet available for iOS and windows.
Palmcredit loan requirements (What do you need to get a loan on Palmcredit?)
The following are the requirements for getting a Palmcredit loan:
- Bank verification number (BVN)
- Full name
- Telephone number
- Bank account information
- Occupation information
The above are the requirements, and it is fairly straight forward when compared to most online loan apps.
How to get a loan on Palmcredit
On Palmcredit, you can get up to 100,000 naira instant loan with little or no fees and also very good interest rates.
To get a loan from palmcredit, make sure you have all the necessary requirements, then you should follow the below instructions:
- Go to Google playstore and download the app and install. The app is not yet available on iOS & windows.
- After installing the app, launch it and register by providing all the required information and verify your phone number by inputting the code sent to phone.
- The next stage is to apply for the loan. Makes sure you have all the requirements before you apply, in other to avoid rejection.
- The last step is to await approval. If your loan is approved, you will be sent the money almost instantly.
- You will receive the loan.
Palmcredit interest rates
Palmcredit interest rates ranges from 14% to 24%, equivalent monthly interest 4.6% the annual percentage rate (APR) on a palmcredit 56.78%.
Palmcredit loan range
The loan term range is from 14 days to 180 days.
Palmcredit loan repayment
To repay your loan on palmcredit:
- Launch the app and navigate to the MENU
- Click the “My loan” button to proceed
- Tap on the “OUTSTANDING” button
- Now, click on “PAY NOW”
- Enter your palmcredit PIN.
You can also pay back by depositing to the Palmcredit account number:
Account name: Transsnet Financial Nig LTD – Consuming finance
Account number: 0772692676
Bank name: Access bank
Make sure you contact the Palmcredit customer care before making payment and make sure you send payment proof to repayment.ng.pc@transsnet.com
Palmcredit customer support
If you want to get in touch with Palmcredit, you can do that via the following channels:
Phone number: 070072564357
Email: Palmcredit.service.ng@transsnet.com
Is Palmcredit legit?
Palmcredit is a legit loan app, and they have been in business for years, giving out instant loan to users with good interest rate.
The parent company-Newedge finance limited is fully licensed by the CBN to operate as a finance company in Nigeria.
Read my branch loan app review
Frequently asked questions (FAQs)
Is My BVN safe with Palmcredit?
Palmcredit only needs your BVN to verify your records, they are not going to take your money except your loan payment is long overdue.
Is Palmcredit approved by the CBN?
The parent company-Newedge finance limited is fully licensed by the CBN to operate as a finance company in Nigeria.
Is Palmcredit legit?
Palmcredit is a legit loan app, and they have been in business for years, giving out instant loan to users with good interest rate.
Conclusion
Read my post on cashflowng.xyz review
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