Palmcredit – online loan Nigeria
Fast mobile loans up to ₦100,000 with money in your account within 15 minutes.
Palmcredit by Transsnet is no longer available in Nigeria. The app and website have been discontinued and the service has been withdrawn from the Nigerian market. We recommend comparing alternative lenders below.
Palmcredit – Mobile Lending Nigeria
Palmcredit is a mobile lending platform operated by Transsnet that provides short-term loans to Nigerian borrowers. The service emphasises speed, offering fast loans up to ₦100,000 with rapid approval. Borrowers can access funds between ₦1,000 and ₦100,000 with terms ranging from two weeks to six months.
The application process involves downloading the app, submitting documentation, and receiving disbursement within 15 minutes. Palmcredit maintains a strong user rating and is available exclusively through the mobile app.
✓ Pros
- Money in your account within 15 minutes
- Loans available up to ₦100,000
- Repayment flexibility 14–180 days
- Competitive interest rate from 4.6%
- Mobile app-based application
✗ Cons
- Limited to smartphone users
- Geographic restriction to Nigeria
- Maximum amount lower than some competitors
Loan example
Loan ₦50,000 for 90 days at 4.6% monthly. Total fee ≈ ₦6,900. Total = ₦56,900.
Loan requirements
- ✓ At least 18 years old
- ✓ Nigerian citizenship
- ✓ Smartphone ownership
- ✓ BVN (Bank Verification Number)
Loan features
- 3-minute disbursement
- ₦1K–₦100K
- 14-180 days
- Android app only
Frequently asked questions
15 minutes after submitting your application.
The minimum amount at Palmcredit is ₦1,000.