palmcredit review
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Palmcredit Review: How To Get A Loan Easily On Palmcredit

We have all been in a situation where we need urgent cash and are contemplating whether to get a loan or not.

Don’t get me wrong, getting a loan isn’t a bad idea and does not directly mean that you are down. You could probably be working on a large scale business, and need cash for one or more business needs.

There are several loan apps that you might consider to take a loan from, and Palmcredit is one of such loan apps that actually give loans to their users, and thereby help you to solve your financial challenges.

In this Palmcredit review, I will be reviewing the Palmcredit loan platform, telling you everything that you need to know before taking a Palmcredit loan.

This will include issues such as, the Palmcredit loan interest rate, how to pay Palmcredit loan and a lot of other information that you will find useful before taking a Palmcredit loan.

About Palmcredit

Founded in the year 2019, Palmcredit is a loan app  that basically provides loans for people in Nigeria. The platform is owned by NewEdge Finance Limited, a finance company that specializes in giving financial assistance in the form of loans.

Via the Palmcredit loan app, registered users can get loans at a very low interest rate, that is, without breaking the Bank. Basically, the company offers short term loans ranging from two weeks to a year.

Palmcredit Review

As you might know already, Palmcredit is a great loan app and from our findings, the loan app is fantastic and has everything that you might need in a loan app. One of its interesting features is its fast delivery. It doesn’t take more than 3 minutes to get credited after applying for a loan. Also, there has never been any report that the loan app called the contact of any of their customers, even if they defaulted, but it is always good to not default whenever you take a loan. With the features of Palmcredit loan app, I will recommend it for anyone that wishes to get a short term loan.

Requirements To Get A Loan From Palmcredit Loan App

There are a few requirements that you must meet before you are allowed to get a loan on Palmcredit. Without meeting all of these requirements, you may not be able to get a loan on Palmcredit. Below are the requirements of getting a loan from the Palmcredit loan app.

  • Must be 18+ years old.
  • Must have a bank account.
  • Must have a phone number.
  • Must have the Bank Verification Number.
  • You must have a job, or a known source of income. 

Palmcredit Sign Up

Creating a Palmcredit account is one of the requirements of getting a loan from the Palmcredit loan app. Before even thinking of getting a loan, this is one of the things that you must have sorted out first. Below are steps on how to perform your Palmcredit sign up.

  • Download the Palmcredit app on google play or app store; or open the app if you have it already..
  • Click on sign up.
  • Register with your phone number.
  • Verify your phone number using the OTP sent to you.
  • Verify your Palmcredit account by providing your personal details such as your name, date of birth, surname, bank verification number and even gender.
  • Click on Register to confirm the Palmcredit sign up.

Palmcredit Login

Also, from time to time, before using the Palmcredit loan app, you will always have to log in your Palmcredit account before using it. Below are steps on how to login your Palmcredit account.

  • Open the Palmcredit loan app on your device.
  • Enter your phone number or email address.
  • Enter your password.
  • Click on Login.
  • If all the details that you entered were correct, you should be taken to your Palmcredit loan app dashboard.

How Much Is Palmcredit Interest Rate?

Actually, and like you might have already known from your past experience from other loan apps (if you have received a loan from a loan app before), most of these loan apps do not have a fixed interest rate. And the Palmcredit loan app is similar to the rest.

The Palmcredit monthly interest rate usually ranges from 4% to 5% in some cases and the general loan interest rate ranges from 15% to about 25% in some cases and could go as high as 30%.

How To Get A Loan From  Palmcredit Loan App

Getting a loan from the Palmcredit loan app is a very simple process.

Below are steps involved on how to get a loan from the Palmcredit loan app –

  • Open the Palmcredit loan app on your device.
  • Click on Sign Up, if you do not have an account, click on Login, if you already have a Palmcredit account.
  • Enter your Bank Verification Number.
  • Select the loan that you want, including the duration, date of payment as well as enter your account number.
  • Enter all other details required.
  • Click on Confirm to receive the loan.

How Much Does Palmcredit Start With?

Usually, Palmcredit loans start with about N2000 which are only made to be paid within 14 days from the day the loan was taken. However, the maximum limit for Palmcredit loans is about N100,000 and could have a repayment period of 180 days or a year. 

How Do I Get My Money From Palmcredit?

After requesting for a loan on the Palmcredit loan app, you can have it given to you via a bank transfer. While collecting the loan, you will be asked to provide your bank account details, the bank which the money will be deposited into.

How To Pay Palmcredit Loan

Just like collecting the Palmcredit loan, paying back your loan is a very simple proceeds.

With just a few clicks, you have made your payments and you will be alerted by the Palmcredit loan app that the loan has been repaid. Below are steps on how to pay Palmcredit loan.

  • Open the Palmcredit loan app on your device.
  • Log in to your Palmcredit account.
  • On the menu, click on “My Loans”.
  • Select the amount of Palmcredit loan that you want to repay.
  • Enter the method that you wish to repay.
  • Whatever method that you choose, you must click on “Confirm”.

Palmcredit App

The Palmcredit loan app is available for download on the Google play store for android devices, as well as on the Apple App store for iOS devices. You can also download the Palmcredit loan app apk from

Where Is Palmcredit Located?

The Palmcredit loan app platform currently has their office at 45c Sauket St, Ikeja GRA, Ikeja, Lagos, Nigeria.

Frequently Asked Questions

Is Palmcredit Loan Legit?

Yes, Palmcredit is a very legit loan app. Their reviews and ratings on the Google play store as well as on the App store is enough to speak volume regarding how legit they are.

Is Palmcredit Reliable?

Yes, Palmcredit loan app is reliable.

It is available 24/7 and users can borrow money anytime they want without fear of anything.

Is Palmcredit Loan Real?

Yes, Palmcredit loan app is real. With the Palmcredit loan app, you can get your loans paid directly into your bank account.

Does Palmcredit Have A USSD Code?

No, Palmcredit does not have a USSD code. And so, if you want to get a loan from Palmcredit, you must apply via the Palmcredit loan app.

Is My BVN Safe With Palmcredit?

Yes, your Bank Verification Number (BVN) is safe with Palmcredit. As I had said earlier, Palmcredit is a licensed loan app and they will not temper with your BVN after the verification.

Does Palmcredit Call Contacts?

No, Palmcredit loan app does not call your contact, like most other loan apps do when there is a delay in loan repayment.

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