Check out another loan app that allows you to enjoy credit facility with no collateral. The loan app is called Palmcredit loan app.
Palmcredit is one of the most downloaded loan apps with no security. Access and get your loan instantly without stepping into palmcredit’s office. All it takes is so simple to the extent that with your smartphone, you can get authorization.
After successful validation on registration, you can then access subsequent loans with no authorization process. It is fast, simple and convenient.
Although you may have found other loan apps with no collateral, palmcredit is also in the league of its own. It is hard to say who is better as most loan apps offer the same quality of services, all that separate is the credit limit.
Palmcredit loan app offer loans up to N100,000 while branch loan app could go as much as N200,000. Take, for instance, Mrs. Adaobi, a civil servant, who needed a loan of N180,000 to start her dream business. She had already taken in with palmcredit not until a friend told her to seek cover this time with branch loan app.
However, Palmcredit is no doubt a great loan app with several benefits that only a few would be able to compete with. Imagine a loan app that still wants to partner with you, giving you a rare chance to refer friends while you swell up your account.
Interest payment and repayment period are fair on palmcredit, add to that, quick discharge of loans is almost unbelievable.
Warning though, don’t default on your payment if you do not want to be locked out forever. Even a good credit history might not be able to save you. You want to keep it clean with them especially for those days when you will need a loan.
Benefits of using palmcredit loan apps
- Quick and easy set up.
- No collateral needed to access loan.
- Get loan up to N100,000 with the minimum loan being N15,000
There is no transaction fee.
- No origination fee.
- Zero rollover charges.
- No office visitation to complete registration.
- Loan approval takes less than 5 minutes.
What do people borrow money?
Not that you do need to come up with a perfect excuse to get a loan from palmcredit, but there are lots palmcredit loan app can do for you.
Business purposes, that seems like a very saleable idea to anyone, even to loan officers. Most officers, even the more rigid ones, will be quick to grant you a loan, not without a collateral though. Do you have investment opportunities you want to push or need money to fund a dream, with palmcredit, you have no excuse so far the loan is within the N100,000 credit limit.
For home use, get a pesonal loan from palmcredit at a very fair interest rate. In case you are wondering what a personal loan is, a personal loan is a loan paid installment at a fixed rate over a period of time. Your intention does not have to be for business purposes, you can still get that dream led tv, furniture or whatever you desire.
Medical bills, there are times when situations like this could come up. Palmcredit like ever, is there to give you a cover even on such a small notice. No story asked. Take the loan and try to pay up as per payment structure.
For contingency purposes, having money kept aside will ensure you are always ready whenever a situation arises. It could be to improve your business, pay children school fees, wedding expenses, take care of ailments, and many more. A loan gives that rest of mind for anything that may come up.
How does palmcredit loan works?
Need an airtime loan? You can borrow from N1000 to N10000 which is repayable within 14 days. For cash, get a credit facility between N15,000 to N100,000 which is payable between 30 days to 180 days.
Loan duration ranges from 91 days to 180 days, the interest rate is from 14% to 24% depending on the amount borrowed. Annual percentage is 56.78%
For example, if you are considering a loan of N100,000 with 24% interest rate and 180 days repayment period.
You are required to pay N24,000 as interest. Total amount payable will be 124,000 with APR at 56.78%
How to get a loan from palmcredit
- Download palmcredit loan app from google play store.
- After installation on your phone, you will need to provide your mobile number, BVN, your bank account details, and a few others.
- After you have filled the form, click on submit. Palmcredit will reach out to you as soon as they review your loan request. This should not take more than a few minutes.
Why your loan application might be have rejected
1. Wrong BVN linked phone number
During palmcredit registration, every applicant is expected to use the same phone number they used in applying for BVN because a one-time password wwill be sent to the number. This will grant users access to continue their registration.
If you have changed your mobile number, you will need to visit your bank to request that your mobile number is changed to your current one.
2. Inaccurate details
Another reason why you might find it difficult is because of incorrect information. I have always maintained that applicants need to use their real names and other details as required when applying on the site. The system is built to easily detect irregularies.
For example, you can not request for loan that does not fit into your monthly income and expect to be validated, also the use of wrong names could be an obstacle. Always make sure that names tally with the ones on your BVN’s profile.
3. Failure to bind ATM card
One of the basic requirements to get loan on palmcredit is to have an active ATM card whose expiry date goes beyond atleast from the repayment period.
Palmcredit will not process your loan if you do not successfully bind your ATM card during registration.
Palmcredit contact details
- Office address: Ogunnusi road besides county hospital, Ogba, Lagos state, Nigeria.
- Facebook: https://www.facebook.com/palmcredit
- Palmcredit contact no: 017001000
- Live chat also available during the working hours of 8 am to 5 pm.
Is Palmcredit legit?
Let us take the first step by letting you know who owns Palmcredit. Palmcredit is owned and managed by Transsnet Financial with the headquarter in London.
Transsnet Financial is in the Nigerian market to help people transact, save and borrow money.
Transsnet is a joint venture between Transsion, the producer of smartphone brands used by over 30% of Africans, including Tecno, Infinix and Itel, and NetEase.
This question is coming after people discovered that you will be asked to provide your bank verification number (BVN), the truth is no one will be able to access your account with just BVN. Paystack, flutterwave, and almost every finance company ask for your BVN, it is just to confirm your identity. Hence, palmcredit instant loans app is safe and legit.
How to repay loan
Although you can easily repay your loan using the palmcredit instant loans app, there are times when it will be out of hands due to network issues, misplaced or damaged phones. Transfer the cash by paying into bank account.
Account name: Transsnet Financial NIG LTD – consuming finance
Account number: 07726692676
Bank: Access bank
After you have paid the amount into the company’s account, contact them through their contact details and show them proof of payment. The best way to go is to send a copy of the payment to [email protected] or visit their office during the working hours of 8am to 5pm.
Here is one of the best money-spinning app to cover your immediate needs with no collateral.
Even though I maintain that no one will be able to hack into your account with just BVN, you will still need to be careful of giving out the number to just anybody.
There are lots of upgrade in technology, comes the new way for fraudsters to find loopholes, we may never know what next they are planning until it happens. Your pin is important, never share with anyone, even your mother’s maiden name and reset email address. There is no harm in trying to be cautious.
Palmcredit has been around for a while, with over a 1000,000 downloads to its name, I have no doubt that it is one of the most used and quick loan apps with no collateral.