As a first timer, you can borrow loan amount ranging from N2,000 to N10,000 on Palmcredit.
|How Much Can I Borrow From Palmcredit For The First Time.
Palmcredit is a loan app that offers Nigerians credits of up to N300,000 without paperwork or collateral. Getting loan from this finance app is easy, all you need to do is download the app from Google play store and fill in your details.
The team will review your credit scores and your application will approved based on the result of your credit history. Additionally, credit history will also determine the account you can borrow from Palmcredit for the first time.
Palmcredit Loan Disbursement Amount
For Palmcredit to disburse loan to your bank account, you need to have a good credit score. A credit score or credit history is a number that depicts a consumer’s creditworthiness. It ranges from 0 to 100.
Hence, the amount Palmcredit can borrow you for the first time depends on your credit score. However, no matter how bad your credit score might be, you’ll still get between the range of N2,000 to N10,000 credit being disbursed into your bank account.
Palmcredit Loan Type
Palmcredit offers various type of loan credits to borrowers including fast loan and short term loans. The loan given to first timers is short term loans. With just a maximum of 3 minutes, you’ll get loan disbursement.
Generally, Palmcredit offers loan amounts that range from ₦2,000 to ₦300,000 with loan durations and repayment schedule of 3-6-9-12 Months and monthly interest rates from 5% to 28%.
In Conclusion, you can borrow loan ranging between N2,000 to N10,000 for the first time on Palmcredit App.