Palmcredit – loan application
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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 The app and website have been discontinued and the service has been withdrawn from the Nigerian market.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.
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Palmcredit – repayment table
Estimated monthly repayments at 4.60% monthly interest. Actual terms confirmed upon approval.
| Amount \ Term | 1 months | 3 months | 6 months |
|---|---|---|---|
| ₦10,000 | ₦10,460 | ₦3,793 | ₦2,127 |
| ₦20,000 | ₦20,920 | ₦7,587 | ₦4,253 |
| ₦30,000 | ₦31,380 | ₦11,380 | ₦6,380 |
| ₦40,000 | ₦41,840 | ₦15,173 | ₦8,507 |
| ₦50,000 | ₦52,300 | ₦18,967 | ₦10,633 |
| ₦60,000 | ₦62,760 | ₦22,760 | ₦12,760 |
Representative example
Loan amount
₦50,500
Repayment term
6 months
Monthly interest
4.60%
Monthly repayment
₦10,740
Total interest costs
₦13,938
Total amount payable
₦64,438
* Example is for illustration only. Actual terms are confirmed upon loan approval.
Quick overview
Loan amount
₦1K – ₦100K
Term
1 – 6 months
Interest from
4.60%
Approval
15 minutes
Age
18+ years
Online application
Yes
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