Owned by Newedge Finance Limited, Palmcredit is a loan app in Nigeria that gives out loan without any collateral. With over 172,000 review on Google Play, Palmcredit has a comfortable customer score review of 4.3, meaning that most customers find their loan service very easy to use. However, there have been some discrepancies on their interest according to complains, but during our conversation with their customer care representative, we were told that interest rate was generated by their system based on customer’s credit score.
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How to Get a loan from Palm Credit
Step 1: Download The App from Google PlayStore
The first step is to download the app by clicking here
Step 2: Register
You will be expected to provided the under-listed items to complete your registration:
- Your personal details
- Your Biometric Verification Number (BVN)
- Your Bank Account Details
- Your phone number
- Your occupation
Step 3: Apply for loan
You can borrow up to N100,000 naira.
Step 4: Get Approval for your loan
Your loan application will be given instant approval. If successful, the money will be sent to you almost immediately
Step 5: Plan on Repayment plan
The reason most people fail on their loan repayment is because they don’t have a repayment plan. Palmcredit loan term ranges from 14 days to 180 days. So based on the term provided on your loan application, you need to note your repayment date on your calendar and set a reminder at least 3 days before the repayment date
Step for Loan Repayment
- Log into the Palmcredit app and click ‘my loans’.
- Select your repayment amount.
- Put in your card details and make payment
If you are having difficulties making payment via their app, you can pay via their Access Bank Account:
- Account Name: Transsnet Financial Nig LTD – Consuming Finance.
- Account number – 0772692676
You are expected to send proof of your payment to their email address: repayment.ng.pc@transsnet.com after payment.
Palmcredit Contact details
Their Customer Care line is open from 8:00am – 5:30pm Nigerian time (Mondays to Fridays), you can contact them via 0700 7256 4357. You can also reach out to them via email: palmcredit.service.ng@transsnet.com