Palmpay offers one of the best loan service in Nigeria presently. Before you apply, its important you know their interest rate. That’s what this post is all about
You need to know that palmpay offers different types of loans. They offer pos loan, flexi credit and flexi cash loans, each of these with its interest rate.
For instance
Palmpay Flexi Credit is absolutely interest free as long as you pay back on the due date. This is a mini loan that you can use to purchase items from within the palmpay app.
Palmpay flexi cash comes with daily interest of 10 naira on every 1000 naira you borrowed. So if you’re loaned 30,000 naira your daily interest would be 10 x 30 which is 300 naira.
Palmpay pos loan comes with daily interest rate of 0.01%. This loan is specifically meant for businesses expecially Pos agents.
As you can see, palmpay interest rate depend on their type of loans you take. But its a good thing that you can rest assured that their loans are safe to take.
However, It’s important to confirm their interest on your loan during the application process and ensure you agree before proceeding. This is because interest rates can change over time.
Read this: How to Borrow Money from Palmpay (up to 500k)
