PalmPay Loan – Get Instant Loans Online With PalmPay

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Getting loans online is the trend nowadays thanks to lending platforms such as PalmPay Loan. This lending platform offers loans to people who are financially challenged. PalmPay doesn’t require any paperwork before you apply for a loan dues to its seamless loan application process.

PalmPay Loan - Get Instant Loans Online With PalmPay

Furthermore, PalmPay is one of the quickest ways to borrow money and within minutes you will get approved for the loan amount you want. It also offers a loan amount of up to N200,000. However, new members are only qualified for the minimum which is N10,000.

PalmPay Loan Interest Rate

PalmPay offers a low interest rate on their loans and it ranges between 15% to 30%. The interest rate also varies depending on the loan amount and credit score. Eligible borrowers can get loan amounts up to N200,000.

How Does PalmPay Loan Work?

PalmPay is a lending service that provides low-interest loans without any collateral to its users. It also provides loans without BVN and a loan limit of up to N50,000 with a duration that ranges from 16 to 30 days.  Taking out a loan is very easy on this app and it doesn’t require many documents.

Requirement for PalmPay loan

To be eligible for a PalmPay loan, you need to meet the specific requirements that determine the eligibility of borrowers. Here are the requirements:

  • Applicants must be a Nigerian citizen
  • Applicants must have a valid means of identification
  • Applicants must have a registered PalmPay account
  • A valid Bank Verification Number
  •  Applicants must be 22 years of age

After you meet the requirements, then you can proceed to the loan application on the mobile app.

How to Download the PalmPay Loan App

PalmPay is available on the Google Play Store and Apple App Store and it is compatible with every device. Follow the steps below to download the PalmPay app:

  • Launch the app store on your device
  • Search for the PalmPay loan app
  • Tap on the download button
  • The app will automatically be installed on your device

After following the steps above, you will be able to download the PalmPay loan app on your mobile device.

How to Sign Up For PalmPay Account

Before you are allowed to borrow money from PalmPay, you need to register for an account. Follow the steps below to register for an account:

  • Launch the PalmPay mobile app
  • Tap on the signup button
  • Input your email address or phone number
  • Create a password
  • Tap on submit
  • And then you wait for verification.
  • An SMS will be sent to you for verification
  • Enter your BVN

And then you enable PalmPay to have access to your device.  After creating your account, you can proceed to login to your account.

How to Apply

Loan application from PalmPay isn’t hard and within minutes you will be done. Take note that new users aren’t allowed to borrow much and they can only borrow up to N10,000. Here is how to borrow from PalmPay:

  • Launch the PalmPay app on your mobile device
  • Head over to the Finance tab or Service tab
  • Tap on credit and loan
  • Input the important details
  • Select the amount that you want
  • Then submit your application

And there you have it. Make sure that you follow the steps carefully to borrow money from the app.

Review

PalmPay is one of the best lending platforms that you can borrow money from and they provide the best personal loans to people. The PalmPay is also ideal for people without a BVN; they can borrow money through the USSD code and get the loan disbursement to their bank account once they are approved. In addition, PalmPay doesn’t require any collateral and it also has a low interest rate.

PalmPay Loan Code

PalmPay offers several ways to borrow money and one of them is through a USSD code. This method is ideal for people with no BVN and they are looking for a way to borrow money. Follow the steps below to borrow money through the USSD code:

  • On your mobile phone, dial *652# using the phone number you use to register for your PalmPay account
  • Choose the options that say “Loan”
  • Follow the on-screen instructions and apply for a loan
  • Then you get your loan deposited into your PalmPay account 

And there you have it. Ensure that you follow the procedures carefully to be able to get a loan from PalmPay Loan.

How To Repay

After your loan is approved, you have to start making payments for your loan. PalmPay offers two ways to make payment for your loan and they include:

Repay through your PalmPay Balance

  • Launch the PalmPay app on your mobile device
  • Login to your account
  • Tap on the “Loan Repayment” icon
  • Choose the loan that you want to repay
  • Your account will be debited.

If you don’t make your payment on time then you will be automatically debited by PalmPay.

Automated Direct Debit

PalmPay set up this feature to enable borrowers to set up automatic loan repayment by using the details of their bank accounts. Ensure that you make payment for your loan on time because late payment could affect your credit score and you will be charged extra for late payment.

Loan Companies like PalmPay Loan

PalmPay is one of the many online lending companies that we have online today. There are several other lending platforms that you can check out and they include:

  • Branch
  • Aella Credit
  • RenMoney
  • PalmCredit
  • Paylater

These are only a few of the alternatives to the PalmPay loan app. If you want to know more about these lending platforms, you can visit their official website.

PalmPay Loan Customer Service

Do you have any inquiries about PalmPay Loan then you can reach out to their customer care line. The customer care line is available every day of the week and ready to answer any question you have You can visit their official page to check their customer care number at www.palmpay.com or email them at support@palmpay.com