Frequently Asked Questions On Palmcredit Loan App

Palmcredit Loan

This guide covers most of the frequently asked questions and answers about palmcredit loan.

1. How much can I borrow from Palmcredit for the first time?

Secure a quick and convenient loan with a customized repayment schedule and competitive interest rate. What sets Palmcredit apart is that, they offer a loan range of NGN10,000 to NGN300,000 for starters, and provide flexible repayment terms that can be tailored to fit your needs, spanning from 91 days to 365 days.

2. What happens if I don’t pay my PalmCredit loan?

It is important to be aware that missing three consecutive loan payments can affect the amount you can borrow in the future. Make sure to repay your loan by the due date in order to improve your chances of getting a higher amount.

3. Do Palmcredit call contacts?

To ensure adherence to our Know Your Customer (KYC) policy, which verifies the accuracy and legitimacy of client identification documents, Palmcredit reserves the right to contact individuals in your phonebook, send text messages to numbers listed, or reach out to personal contacts you’ve shared with us.

4. How long does it take Palmcredit to disburse?

Palmcredit disburse their loans within 24 hours. If you do not receive the loan after 24 hours, you can contact their customer care service for assistance.

5. Who owns PalmCredit in Nigeria?

Newedge Finance Limited owns Palmcredit digital lending platform, with the aim of providing unsecured loans to individuals in Nigeria, eliminating the need for collateral.

6. Is PalmCredit approved by CBN?

Yes, palmcredit is approved by the Central bank of Nigeria (CBN) to provide unsecure credit to individuals.

7. How do I repay my PalmCredit loan?

Repaying a Palmcredit loan is a straightforward process. Just log in to your account, go to the repayment section, choose the amount you want to pay, and then proceed to make the payment. You can opt to pay using a card by selecting your card details and confirming the transaction.

8. How much can a PalmCredit loan?

Palmcredit provides quick loans of up to ₦100,000 directly to your mobile device. Our customers can access flexible loans without the need for collateral at very competitive interest rates.

9. Why is Palmcredit not giving me loan?

Providing inaccurate details that do not align with your BVN information will result in your application being declined. As an example, if you enter an income bracket that does not correspond with your regular monthly earnings in your bank records, your loan request will be turned down.

10. What are the complaints about Palmcredit?

Users have raised concerns about unauthorized withdrawals from their accounts and instances where the app continues to display outstanding debt even after the borrower has already settled their loans. They are unhappy that their accounts are still being debited after loan repayment, and are frustrated with the customer service’s delays in resolving the matter.

11. Is PalmCredit and NewCredit the same company?

According to the recently published list of authorized digital lenders by the FCCPC, Newedge Finance has successfully registered three mobile loan platforms under its umbrella, namely Palmcredit, Easybuy, and Newcredit.

12. Does PalmCredit accept installmental payment?

PalmCredit also provides a benefit of having flexible repayment choices. Customers have the opportunity to repay their loans in parts through various payment methods, whether it be online or offline. This allows you to select the repayment method that suits your needs and financial circumstances the most.

13. Does Palmcredit have an office in Nigeria?

Palmcredit office is located at ja GRA, Ikeja, Lagos, Nigeria, and they are available to assist customers at any time, day or night, 24/7. Additionally, Palmcredit mobile app has been downloaded an impress,398 times on Google Play, making it a popular choice for those in need of financial credit services.

14. Does Palmcredit send messages to contacts?

It’s essential to be aware that this palmcredit may contact your via SMS if you have an outstanding balance. Furthermore, they may send negative messages through WhatsApp if your payment is only one day late.

15. Does PalmCredit use BVN?

Yes, Palmcredit, a mobile loan app run by Newedge Finance, offers rapid loans to Nigerians without requiring collateral. Instead, the app uses a borrower’s BVN and additional personal

Frequently Asked Questions on Palmcredit Loan App

Palmcredit Loan

1. How much can I borrow from Palmcredit for the first time?