How to Close, Delete or Deactivate your Palmcredit Account Easily

Palmcredit is a mobile loan app that offers quick and easy access to loans in Nigeria. The app uses a variety of data points to assess a borrower's creditworthiness, and loans are typically approved within minutes. Palmcredit offers loans ranging from N2,000 to N100,000, with repayment terms of 91 to 365 days.

Palmcredit is a popular choice for borrowers who need quick cash to cover unexpected expenses or meet short-term financial needs. The app is easy to use and the loan application process is quick and straightforward. Palmcredit also offers a number of features that make it a convenient option for borrowers, such as the ability to repay loans in installments and the option to extend loan repayment terms.

To apply for a Palmcredit loan, you will need to download the Palmcredit app from the Google Play Store. Once you have installed the app, you will need to create an account and provide some basic information about yourself. You will also need to provide access to your phone's contacts and SMS messages. Palmcredit will use this information to assess your creditworthiness.

Once your loan application has been approved, you will receive the loan amount in your bank account within minutes. You can then repay the loan in installments over the agreed-upon repayment term.

If you are in a situation where you want to Close, Delete or Deactivate your Palmcredit Account Easily, this blog is for you.

How to Open a Palmcredit Account

To open a Palmcredit account, follow these steps:

• Download the Palmcredit app from the Google Play Store or the Apple App Store.
• Open the Palmcredit app and click on the "Create Account" button.
• Enter your phone number and click on the "Next" button.
• You will receive a verification code (OTP) via SMS. Enter the OTP in the provided field and click on the "Next" button.
• Enter your basic personal information, such as your name, date of birth, and gender.
• Enter your Bank Verification Number (BVN).
• Create a strong password for your Palmcredit account.
• Review the terms and conditions of Palmcredit and agree to them.
• Click on the "Create Account" button.
• Your Palmcredit account will be created immediately. You can now start applying for loans.

How to Close, Delete or Deactivate your Palmcredit Account Easily

Deleting your Palmcredit account is a permanent process that will remove all of your data from the Palmcredit system. Before you delete your account, make sure that you have withdrawn any outstanding loans and fulfilled all of your obligations to Palmcredit.

To delete your Palmcredit account, follow these steps:

• Log in to your Palmcredit account.
• Go to the Settings section.
• Find the Account Deletion or Close Account option.
• Select the reason for deleting your account.
• Confirm that you want to delete your account.
• Enter the OTP (One-Time Password) that is sent to your phone.
• Confirm that you want to delete your account.
• Your Palmcredit account deletion request will now be processed. You will receive a confirmation email once the process is complete.

FAQS

What is Palmcredit?

Palmcredit is a mobile loan app that provides quick and easy access to personal loans in Nigeria.

How do I apply for a Palmcredit loan?

To apply for a Palmcredit loan, you will need to download the Palmcredit app from the Google Play Store or the Apple App Store. Once you have downloaded the app, you will need to create an account and provide some basic personal information. You will also need to provide your Bank Verification Number (BVN). Once your account is created, you can start applying for loans.

What are the requirements for getting a Palmcredit loan?

To be eligible for a Palmcredit loan, you must be a Nigerian resident with a valid Bank Verification Number (BVN). You must also be at least 18 years old and have a regular source of income.

How long does it take to get a Palmcredit loan?

The loan application process is quick and easy. Once your loan is approved, the funds will be disbursed into your bank account within minutes.

What are the interest rates for Palmcredit loans?

The interest rates for Palmcredit loans are competitive. The interest rate will vary depending on the loan amount and the repayment period.

What are the repayment options for Palmcredit loans?

Palmcredit offers flexible repayment options. You can choose to repay your loan in weekly, monthly, or quarterly installments.

What happens if I miss a Palmcredit loan payment?

If you miss a Palmcredit loan payment, you will be charged a late fee. The late fee will be added to your outstanding loan balance.

Who is the owner of Palmcredit loan?

Newedge Finance Limited is the company behind Palmcredit, Easybuy, and five other cash loan products.

How trusted is Palmcredit?

Palmcredit is a mobile loan app owned by Newedge Finance Limited, a licensed lender by the Central Bank of Nigeria (CBN). The app has been downloaded over 10 million times on the Google Play Store and has a rating of 4.3 stars. Palmcredit has been praised for its quick and easy loan application process, as well as its flexible repayment options.

How do I contact Palmcredit?

Incase of any enquiry, kindly reach them on [email protected] or 017001000.

Can loan apps blacklist my BVN?

No, loan apps cannot blacklist your BVN. The only entity that can blacklist your BVN is the Central Bank of Nigeria (CBN). However, loan apps can report your loan repayment history to the Credit Bureau Association of Nigeria (CRIBN). If you have a poor loan repayment history, this could affect your credit score. A low credit score can make it more difficult to obtain loans in the future.

Can loan apps access my contacts?

As of May 31, 2023, loan apps in Nigeria are prohibited from accessing users' contacts. This is in accordance with a policy update from Google, which prohibits personal loan apps from accessing sensitive user data such as photos, videos, and contacts.

Is Newcredit and PalmCredit the same?

No, Newcredit and PalmCredit are not the same. Newcredit is a loan app owned by Newcredit Finance Limited, while PalmCredit is a loan app owned by Newedge Finance Limited. The two companies are not affiliated with each other.

Conclusion

We hope this guide has been helpful. If you have any further questions, please drop them in the comment section.