P
PalmCredit Review
VerifiedCBN LicensedInstant personal loans up to ₦300,000
3.7
(850 reviews)₦2,000 - ₦300,000
Loan Amount
14-24%
Monthly Interest
14-180 days
Repayment Term
5 minutes
Approval Time
Pros & Cons
Pros
- ✓Very fast approval
- ✓Instant disbursement
- ✓No collateral needed
- ✓Simple application process
- ✓Wide accessibility
Cons
- ✗Higher interest rates
- ✗Android only (no iOS)
- ✗Requires extensive phone permissions
- ✗Reports of aggressive debt collection
How to Apply for PalmCredit Loan
- 1
Download PalmCredit from Play Store
- 2
Register with phone and BVN
- 3
Grant required permissions
- 4
Complete profile
- 5
Request loan amount
- 6
Receive instant disbursement
User Reviews
C
Chiamaka U.Verified
Aba
January 2025
Quick and easy when you need emergency cash. Interest is high but they save you in emergencies.
M
Michael E.Verified
Lagos
December 2024
Works but interest is too high. Use only for real emergencies.
Frequently Asked Questions
Is PalmCredit on iPhone?
No, PalmCredit is currently only available on Android devices.
What is PalmCredit interest rate?
Interest ranges from 14% to 24% depending on loan amount and tenure.
Quick Info
- Founded
- 2018
- Headquarters
- Lagos, Nigeria
- CBN Licensed
- Yes
- Disbursement
- Instant
- Last Updated
- 2025-01-19
Requirements
- •Valid BVN
- •Nigerian phone number
- •Android smartphone
- •Age 18-55 years
- •Active bank account