Flexicash: How to Borrow Money From Palmpay Without BVN

PalmPay is a fast-growing fintech company in Nigeria that offers digital banking services, including money transfer, purchasing airtime and data, paying bills, and offering low-interest loans. They are reliable and trusted for their swift payment service and good user experience. If you’ve ever wondered how to borrow money from PalmPay, this guide will walk you through everything

PalmPay Loan App: How to Download

The first step in accessing Palmpay loan is to download the app from your device’s app store. Visit Googleplay store on Android or Appstore on Iphone.

• Search Palmpay Googleplay store on Android or Appstore on Iphone and Install
• After download, open the app and create account
• Enter your correct personal information and create account
• Set a password for your account for protection.
• Now, your PalmPay account is now ready for use.

Make sure to follow the step-by-step guide above to Borrow Money From PalmPay. Now let’s proceed to the next step.

PalmPay Loan Requirement

To qualify for PalmPay loan, you must meet the following requirements to borrow money from Palmpay:

• Must have PalmPay mobile app installed on your phone, If you follow the first guide you can skip this
• Now that we have PalPay app installed, You must have performed few transactions (Transaction history)
• you must have a Nigerian BVN Number
• Valid Nigerian phone Number
• Loan amount may vary depending on user’s credit score.
• Build your credit score by paying loan on time and transacting on the app

How to Borrow Money From PalmPay (Step-by-Step)

Now let’s move to the next step of collecting loan from PalmPay. Follow these steps on how to borrow money from PalmPay for the first time or how to collect loan from PalmPay:

• Download PalmPay, Register and Sign-In.
• Verify BVN and complete KYC (make sure to verify up to tier-3: this give you an high chance of securing higher amount of loan)..
• Navigate to the loan section by clicking the secomd icon on the bottom menu bar.
• Your loan offers will be displayed to you, select amount and repayment term.
• Confirm and wait to be credited. It takes less than a minute to be approved.
• Once approved, you can access your loan on the PalmPay dashboard and it can be withdraw to any bank in Nigeria.

For higher loan on PalmPay, you need BVN number, loans without BVN are small (2,000 Naira, 5,000 Naira).

Interest Rate

PalmPay interest rate depends on various factors, up to 17% interest rate. If you pay back on time, you will get lower interest rate and build your credit scrore.

How to Increase Loan Limit on PalmPay

• Repay loan on time
• Upload your correct information (BVN and personal details).
• Increase app usage (Buy airtime, data and make transfers).

What Happens If You Don’t Pay PalmPay Loan?

If you are unable to payback your loan, these are the consequences

• Your account will be restricted and auto debit will take effect
• Credit score damage (You won’t get future loan offers)
• Frequent calls and text messages from PalmPay.

PalmPay Customer Support for Loan Issues

PalmPay customer support is an organized in-house team established to help answer and solve customer’s problems using only PalmPay services regarding Transfer issues, Loan issues, and issues like successful transfer and recipient not receiving it.

As a registered user, you have unlimited access to their support team by using their verified contact methods.

PalmPay WhatsApp customer care number Nigeria / Call: +234 2018886888.

E-mail address: [email protected]

USSD code: *861# (This is an alternative way to contact palmpay without the app).

Conclusion

Borrowing money from PalmPay is straightforward: download the app, register, verify your BVN, check your eligibility, and apply for the loan amount you need. Once approved, the money is disbursed instantly to your PalmPay wallet.

It is quick and convenient is you need fast cash, always remember to repay quick. very important.

FAQ (Frequently Asked Questions)

Does PalmPay give loan?

Palmpay offers quick loan to only registered customer directly through their mobile app if you meet the above stated requirements to borrow money from Palmpay.

How do I borrow money from PalmPay for the first time?

if this is your first time of borrowing from PalmPay, Download the app, complete kyc process, enter BVN, personal information and submit. Your loan will be approved in minutes.

What is PalmPay loan interest rate?

Interest rate vary.

What happens if I don’t pay my PalmPay loan on time?

Your account will be restricted, credit score damage, and frequent calls.