How to borrow money from palmpay app (get loan in 2022)

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Do you want to know how to borrow money from palmpay app? In this post, I will show you simple way to get palmpay loan in 2022.

PalmPay is one of the leading FinTech apps in Nigeria. With it you can carry out almost all major banking transactions, utility bills payment and data subscriptions.

Read this: FairMoney loan – USSD code, terms and conditions, app download

Good news is not only that you can borrow money from Palmpay, but that there is in fact an interest free loan waiting for you on the app.

PalmPay Loan code

  • Low interest fees
  • Up to 50,000 naira
  • Instance disbursement
  • Flexible repayment
  • No collateral needed
  • No guarantors needed

At this moment palmpay does not have official ussd code to borrow loan. You can access their loan facility through the app.

Step 1: download and sign up

Go to Google Playstore and install PalmPay app if you’ve not yet done so. Also lunch the app and sign up

Step 2 add BVN and others

With PalmPay loan, you will need to add your bvn before accessing the app features. You may also be required to perform other actions before you can proceed.

Step 3 Apply

Once you’ve signed up, heed over to the finance tab and click on apply. You will need to provide two people’s phone numbers. These people can be any of your family members or friends.

Read: GTBank loan code: interest rate, requirements and repayment ussd

Step 4 Wait for approval

After submitting your request, you will need to wait for some minutes for approval.

Step 4 withdraw money into your account 

Once your palmpay loan request is approved, you will be able to withdraw the money into your bank account or you can use it to make purchases on the app.

Interest rate

Palmpay loan interest rate is between 5 and 10 percent. You will be able to review your principal and interest on loan before taking it.

Ok card

If your loan is not approved for whatever reason, there’s also another loan offer you can try within the palmpay app.

Read this: PalmPay POS – charges, daily target, machine price, how to get it in 2022

Click OK card and you will find a loan offer already waiting for you. The backdrop of this is that the maximum amount you can borrow here is 10,000 naira. However the good news is that this is an interest free loan.

USSD code

Some people may prefer to access this service through ussd code, however as at this time PalmPay hasn’t introduced any code for accessing their loan services.

Read this: How to delete PalmPay account, cancel subscriptions on iPhone & Android

Hope you’ve learn how to borrow money on Palmpay. Thanks for reading

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