Loan

Step by Step ways to get a loan on Palmcredit.

Palmcredit Loan step by step

Palmcredit is a loan application that gives loan without you needed to visit any bank. The palmcredit loan application was founded by Newedge finance limited. Discover the latest news and step by step way to get a fast loan using the Palmcredit loan app here.

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The palmcredit application is more convenient than it doesn’t requires any collateral for you get a loan, it is fast and reliable that you can get a loan in less than some minutes though there may also other reliable loan apps like this.

In this article we’re going to guild you step by step ways in getting a quick loan on this application also we’ll brief out the negatives aspect above this palmcredit loan app as we all know there’s no good thing without negative side.

What is Palmcredit Loan App

First of all we’ll talk about the meaning of palmcredit loan app.

Palmcredit Loan App is an application developed by a set of people that gives out loan to people who meet their standards, the app is gotten on Google play store with your android phone.

Which means you must be a smart phone user to be able to get the palmcredit application, Palmcredit’s loan application requires approximately 8MB of storage space on your device in order to be successfully installed and run.

Depending on the speed of your internet connection, installation can be completed in less than five minutes.

How to Apply for a loan using the Palmcredit loan app

Getting a loan on palmcredit is as fast and simple as ABC, you must make sure you are capable to pay back, see below steps by step ways to get a loan on palmcredit.

First of all Download Palmcredit App

You can get the app by visiting there official website to get the app or you head straight to your Google play store and search for the name (Palmcredit loan app) download the app and you are set in moving forward on achieving your goals.

If you once download the app on your phone, you can easily check if the app is yet to update quickly do that and proceed.

Complete your Profile, Registration

Following the completion of your installation, the next step is to complete the registration process. You must adhere to the instructions displayed on the screen. Provide the platform with all of the information it has requested. Additionally, it is possible that your phone number will need to be verified. Palmcredit will send you a code via text message. To complete the verification process, all you have to do is enter the code into the app.

Apply for a loan

When the registration process is complete, getting a loan now requires you to give them all information about you as they’ll requires for your BVN, NIN, and other important things before your application will be approved by their team.

Wait for their approval

Once you’ve completed your application and have submitted, you’ve to wait patiently for their response, This usually takes not more 30 minutes in most circumstances. Simply double-check that you’ve entered all of the necessary information. You will be given the loan once it has been approved. You have the option of having the funds transferred to your bank account immediately.

Interest rate on Palmcredit

Its interest rates range from 14 percent to 24 percent, while its Equivalent Monthly Interest is 4 percent to 4.75 percent, and the Annual Percentage Rate (APR) on a Palmcredit loan is 48.6 percent to 56.6 percent (annual percentage rate). The loan term can last anywhere between 14 and 180 days.

Palmcredit provides loans up to a maximum of $100,000. Please remember that you can always change the maximum amount you are willing to wager.

Payment of Palmcredit Loans

The process of repaying a Palmcredit loan is as simple as the application process for the loan. Paying back your Palmcredit loan can be accomplished in the following ways:

Open the Palmcredit app and select ‘my loans’ from the drop-down menu.
Calculate the amount of money that you wish to repay. You can make your payment using a credit card.
Fill out the form with your credit card information and finish the transaction.

You can also make a payment to their bank account if you are unable to do so through the mobile app. Prior to making a direct payment to their account, make sure you speak with their customer service department first.

You can make a deposit into Palmcredit’s Access Bank account, which has the account number 0772692676. Consumption Finance is provided by Transsnet Financial Nig LTD.

Following your bank transfer repayment, you will be required to send proof of payment to the following email address: repayment.ng.pc@transsnet.com to ensure that your repayment is recorded.

Is Palmcredit Loan App Legit

Is Palmcredit a member of the CBN? The parent company, Newedge Finance Limited, has been granted a full license by the Central Bank of Nigeria to conduct business as a finance company in Nigeria. That is, every aspect of their business is strictly regulated. As a result, yes. Palmcredit has been approved by the Central Bank of Nigeria (CBN) and is legitimate.

Frequent Ask Questions About Palmcredit

What are the requirements to get the loan?

  1. Requires your smart phone
  2. Resident of Nigeria
  3. You must be 18-60 years old.

How to get a loan on palmcredit

  1. Download and register an account.
  2. Fill out basic information and submit.
  3. Apply loan online and easy to get approved .
  4. Get your loan disbursed into your bank account.

About Palmcredit App

  1. Limit range from NGN10,000 to NGN300,000.
  2. Flexible repayment between 91days to 365days.
  3. No collateral.no paperwork,secure and reliable.
  4. No hidden fees,no rollover charge,no transaction fees.
  5. Repay your loans in time or complete increase limit tasks to build your credit limit and reduce on interest rate.

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