Palmcredit Loan Review: Repayment, How To Get Loan With Out Collateral, login
Palmcredit is an online lending platform owned by Newedge Finance Limited. These loans are granted without collateral and with less documentation.
Palmcredit is one of the fastest means to access loans with few minutes of not worrying about providing collateral.
One of the major attributes of palm credit is the low-interest rate associated with paying back making it a noteworthy Fintech in Nigeria.
The company initiated this platform to offer access to quick cash and short-term loans by using the app on a smartphone.
Palmcredit Interest Rate
Palmcredit has a low interest rate ranging from 14% to 24%, Equivalent Monthly interest 4%~4.7%, the Annual Percentage Rate (APR) on a Palmcredit loan is 48%~56%. The loan term tenure is between 14 days to 180 days.
You can get up to ₦100, 000 loan from Palmcredit. Also, note that you can increase or reduce the maximum amount at any time you want.
Palmcredit Loan Repayment
Palmcredit loan repayment can be done as simple as when applying for the loan. The following steps will guard you on how to repay Palmcredit loan:
- Log into the Palmcredit app and click ‘my loans’.
- Select the amount you want to repay. You can make the payment with your card.
- Put in your card details and make payment
Side note: If you are unable to make the payment on the app, you can pay with their account number. Ensure you speak to their customer care before you make a direct payment to their account.
PlamCredit loan requirement
To be able to access a loan, you maybe be required to fill in the following information:
- Bank Verification Number (BVN)
- Full name
- Primary telephone number
- Bank account information
- Occupation information
Normally, the regulations are not much. These are just essential data.
How do I sign up
You can sign up for the loan by downloading the PalmCredit app from the Google play store.
The Palmcredit app is where you can apply for a loan. As previously cited it is only possible to access a loan from Palmcredit through their app on Google Playstore.
You will require an android phone to apply for a loan or any of their services. Some of the other services rendered by Palmcredit include buying airtime, data bundles, and so on.
Palmcredit App from Google Play Store
The Palmcredit loan app needs a phone with about 8MB of storage to successfully install it on your device. The installation takes less than 5 minutes relying on how fast your internet can be.
This app is a user-friendly app designed for easy navigation from one command to another without facing any difficulty.
The PalmCredit App Review
The plamCredit app has over 70k downloads on the Google Play store, it is secure to say that the Palm credit app has one of the largest client bases.
From the reviews given by some of the clients, it’s noticeable that you might encounter technical issues with the app. The most common issue has been with repayment of loans and users being tagged fraudsters especially when their cards have been rejected.
How can I download the palm credit on my iPhone
1. Download and Install the app on your phone
The first step to take is to download and install the app on your phone. Presently, this platform app is only available on android phones.
There is no app version for iOS or windows. You can install the app in two ways. First, you can visit the online portal and input your phone number and you get the app.
The site is www.palm credit.co but presently it has been offline. This is insignificant as they apply for a loan from the app. You can also use their Facebook page to reach out.
Secondly, you can download the app from the Google play store. Please note that without the app won’t be able to apply for a loan.
Once you have installed the app on your phone. The next step is to register. Just follow the on-screen command. Fill in all data that is required.
Keep in mind that you may be asked to verify your phone. A code will be sent to your registered phone number which you’ll use to fill into the app for verification.
3. Apply for a loan
Once you have finalized your registration you can now access the loan. The procedure is easy. These procedures will be displayed on the app.
4. Get approval
After applying for the loan, the next step is to wait for approval by the platform. As long as the provided information is accurate in less time you’ll get your loan.
5. Receive your loan
Once your loan has been approved, you will receive the loan using your bank account which you have provided.
How do I contact Palmcredit
You can contact Palmcredit depending on your complaint or challenges faced while using the platform.
To Repay your loan;
To contact them using either the loan app or you can pay your loan into the account number- Access Bank (0772692676), account name- Transnet Financial Nig. Ltd.
Although the Palmcredit app is easy and simple to use, challenges and problems may arise during repayment of loan or registration.
You can also contact Palmcredit using their Customer Care Phone Number
To contact the customer care for your complaints, problems, troubles or request, you can dial the following phone numbers: 017001000 or 070072564357.
You can contact Palmcredit Customer Care using Whatsapp Number
You can use the Palmcredit WhatsApp phone number to chat with the customer care representative. However, the company does not presently have a WhatsApp number or channel to chat on.
By using Palmcredit Customer Care Email Address
Another easy way to reach out to Palmcredit customer care agents is via their email address.
To do this, simply write an email and forward it to email@example.com
Palmcredit also has Social Media Pages. Which you can also post your complaints, questions, or request on their social media pages such as:
How To Delete PalmCredit Account.
You might be fed up using your Palm credit account, and before such, you wish to close or even delete your account.
There are other several reasons why you may want to delete your Palm credit account among all of them is email spamming by the company.
These steps will direct you on how to delete your Palmcredit account permanently.
How to Delete Palmcredit Account
Before we continue you should remember that you can delete your account by forwarding a deletion request mail to Palmcredit customer support.
Follow the below steps to get it:
- Step 1. Login to your email account and click “Compose” or “Create” to write a new mail.
- Step 2. Compose a mail with the title “Request to Delete Palmcredit Account”
- Step 3. Compose your mail stating your reason to delete or close your account.
- Step 4. After composing your mail send it to firstname.lastname@example.org.
Note that after deleting your data or profile from Palmcredit database you may not be able to procure any data from them in the future. So, don’t be in a haste here.
Palmcredit approved by the CBN?
Palmcredit is backed by Newedge Finance Limited which is fully licensed by the CBN to perform as a financial institution in Nigeria. This means that all activities operated by Newedge Finance have been regulated and benefited CBN. So, yes. Palmcredit is authorized by the CBN, and it’s real.
How Much Can You Borrow With Palm Credit App?
By using the app, you can borrow money depending on your desire amount ranging from #2, 000 – #100, 000. The amount allowed for an individual to borrow depends on their credit score and history of repaying loans.
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this articles was written by a team of bloggers for youwin.org.ng, the writer is a University graduate, he holds a degree in Economics from the University of Nigerian Nsuka (UNN).
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