Download Palm Credit App For Instant Loan [Review!]

Palm Credit app

So, I checked my loan history on the Palm Credit app and realized it’s been over a year since I registered and started using the loan app. I could remember that I was only eligible for #12,000 in my first loan application, which I got.

So, in this article, I’ll share with you my detailed review of the PalmCredit app, and how you can also apply for instant loans with your mobile phone. So you know, Palm Credit is one of the top 10 best loan apps in Nigeria today.

You may wonder, how did I get introduced to the app in the first place? Well, as a blogger, I intend to provide first hand experience to my readers. I was actually trying out different loan apps like the Branch App, Carbon, FairMoney, etc. to have a feel of the services they’re providing and how anyone can benefit from the credit facilities they provide.

For other people, the reasons for getting a quick loan may be different. In most cases it’s because of catering for urgent needs and to get out of unplanned financial emergencies. Thankfully, every of the top loan apps in Nigeria, including the Palm Credit app gives quick loans.

Unsecured loans are the type of loans offered by the palm credit app, as they are supplied systematically based on your creditworthiness and history rather than collateral. This basically implies you won’t have to put up any collateral in order to borrow money from the app.

So, what’s my take on the the loans you can get on the PalmCredit app? How does getting a loan on the platform works? What’s the interest rate, and is the repayment plan friendly? That’s why I’ve put together my review of Palm Credit.

Quick Disclaimer: We are not Palm Credit loan company; the information provided is for information purposes and personal opinion based on what we’ve tried with the app. Do read their terms and interest rate policies before you proceed.

What Is Palm Credit App?

The PalmCredit app is a mobile application that offers instant loans and credit services to individuals in Nigeria. It provides users with a convenient and accessible platform to apply for loans, manage their credit profile, and access financial resources to meet their immediate financial needs.

PalmCredit aims to bridge the gap between individuals and financial resources, providing them with quick and accessible credit options to address their immediate financial needs. It simplifies the loan application and repayment processes, making it a convenient solution for individuals seeking instant loans in Nigeria.

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Palm credit app for instant loans

How Does Palmcredit Work?

The Palm app offers just two types of loans in Nigeria today:

  • Palm credit Airtime Loan which allows customers to borrow up to N10, 000 worth of airtime to repay within 2 weeks and;
  • Palm credit Installment Loan where customers you can borrow within the range of N2000 to N100, 000.

All these loans can be acquired simply by applying through your smartphone, Android specifically.

Before you can apply for loans through the palm credit app, you have to meet requirements set up by the platform.

Failure to meet these requirements will lead to an unsuccessful Palm Credit loan application. These requirements include:

  • You bank verification number(BVN)
  • Your personal details
  • Phone number
  • Valid bank account details.
  • Your occupation information.

If you satisfy all of these requirements, then you can proceed to download the palm credit app and apply for the loan.

We will give you a guide to doing all these subsequently in this article.

Palmcredit App For iPhone, and Android

To apply for Palm credit loan, you are required to first download the mobile application. This can be done by downloading the palm credit app on the Google play store app on your Android phone.

Palm credit online loan app
Palm credit online loan app

Then use the search space box and input Palm credit. Click on the application and install it on your smartphone. And that’s all about it.

The palm credit app, however, is not yet available for IOS devices like the iPhone and iPad. Whenever it is available, we will definitely be the first to update you.

PalmCredit Signup – How Can I Get a Palm Credit Loan?

After you have downloaded the loan app as stated above, you can then proceed to launch the application.

After launching, follow the guides listed below for a successful loan application.

BONUS: Register Through this image now, get up to 100k loan as you qualify, even earn as you inform others!

Palmcredit quick loan
  • Provide the correct functioning phone number. A verification code will be sent to the number through the app. This happens within seconds.
  • A form pops up afterward and you will be required to provide personal information like your surname, name, birthday, BVN, and gender.
  • Provide a valid Bank account details where you’ll receive the money.
  • Fill in where your education and employment are required.
  • When you’re done, click on “submit” to send your application.
  • You will then wait for minutes for your loan to be processed and approved. Once approved, you will receive a congratulation message from the Palm credit app. The loan amount will then be deposited in the account you provided.

Palm Credit Loan Repayment

There are two ways by which you can repay the Palm credit loan. You can repay the loan directly through the app.

  • Launch the app and navigate to the “menu“
  • Click the “my loan” button to proceed.
  • Tap on the “Outstanding“ button
  • Now, click on “Pay now“.
  • Finally, enter your Palm credit PIN

The other option is by cash deposit into the Palm credit bank account.

To utilize this method of loan repayment, visit any Access Bank branch nearest to you and pay in according to the account description below:

  • Account name: Transsnet Financial Nig LTD – Consuming Finance
  • Account number: 0772692676

After successfully making the bank deposit, send evidence of the receipt like the teller to for verification of your loan repayment.

Must Read: List of all USSD code for loans in Nigeria

How Much Can You Borrow With Palm Credit App?

Through the app, you are allowed to borrow cash in the range of #2, 000 – #100, 000.

The amount of money you can borrow through the Palm credit app varies depending on your credit score and history. The higher your credit score, the better. For me, I am eligible for as high as 150,000 Naira.

How Much is Palmcredit Loan Interest Rate?

At the time of writing of this article, Palm credit app loan interest rate stands at 14-24%.

The interest rate varies depending on a lot of factors such as loan amount, loan tenor and so on.

For example, if you borrow #100, 000 for six months, the amount to be repaid at the end of six months is equivalent to #124, 000.

Did you know you can also make money by referring friends and family to download and use palm credit app?

Here are some rules:

palmcredit loans

How Long Does Palmcredit Take to Process a Loan

After a successful loan application, it takes a maximum of 24 hours for you’re your loan to be processed and completed successfully.

What Happens When You Don’t Pay Your Loans?

It is advisable to pay your loan and also on time to avoid any embarrassing occurrence that may arise from the non-repayment of loans.

If you fail to pay your loans, a message will be sent to your loved ones on your contact list which will be very embarrassing for anyone.

Just like Carbon loan app, further actions might be taken against you as you will be reported to the Federal Credit bureau so that you will be unable to obtain loans from any other loan platform in Nigeria.

Palmcredit Contact

If you have questions or further inquiries on the Palm credit app, You can contact the Palm credit loan hotline 080700 7256 4357.

Concluding Notes On Palm Credit Loan

The palm credit loan app is one of the best fintech companies you can obtain loans from without any hitches.

This is evident in the number of downloads and reviews they got on the Google play store where we see more than 150,000 people downloading the app for use.

Now you do know how to apply for your palm credit loan and also how to pay back.

Please share your opinions with us on this article and how useful this information is for you.

You can also share this information on your various social media platforms like Facebook, Twitter, Instagram, and so on, to let others also gain this useful information.

Even More Topics:


    • You should be able to see a preview on the palm credit app before you finally proceed to apply for the loan.

  1. Hi Titilope, Please channel palm credit’s customer care number. Don’t worry, they pick calls in maximum of 2 minutes if you call during working hours. You can relay your complaints to them.

  2. I am about to borrow 50,000 but I can’t afford to pay back now , i certain within six months from now , so how much will I be paying back

  3. I lost my phone and I have been trying to download the app just so I can pay my loan but playstore is saying app is not available in my country what do I do?

    • Not sure about that Gideon. As for every other loan apps, a bank account that has a BVN attached is one of the basic requirements

  4. Hi I wanted to reapply for another loan so l couldn’t access the app the network was so bad please make an amendment

    • You said it all Adijat, the network was bad. Please have a steady internet connection and you’ll be able to use the Palm Credit app. We’re certain the the loan company has a functioning app

    • If you choose to pay back in 28days after getting the loan, you’ll pay N11,160.
      If you choose to pay back in 21 days after getting the loan, you’ll pay N10,620
      If you choose to pay back in 14 days after getting the loan, you’ll pay N10,260
      For 7 days, payback total will be N9,900

    • Please follow the links in the post to register with palm credit, then you’ll be able to know the amount of loan you’re eligible for

    • Hi Titilope, Please channel call 017001000, that’s palm credit’s customer care number. Don’t worry, they pick calls in maximum of 2 minutes if you call during working hours. You can relay your complaints to them.

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