Palmpay Loan: How to Borrow From Palmpay App Easily

Among other things you can do on the Palmpay app, do you know that you could request a loan? Yes. With the Palmpay app on your device, you can request a loan of any amount you like. All that is needed from you is to know the procedures on how to access the Palmpay loan successfully. Well, you would be learning that from this well-written article. Along with that, you would also read the requirements that would be needed to make you eligible for this loan. Let’s begin by considering these requirements. The next subheading discusses that.

Requirements On How To Get Palmpay Loan

In getting a Palmpay loan, there are some requirements you need to meet before being approved for the loan. Below, you would be reading the major requirements needed for a Palmpay loan. Let’s get started:

1. You Must Have A Palmpay Account

There’s no way you can access a Palmpay loan without at least having an account. This is quite self-explanatory. So, if you don’t have an account with Palmpay, do well to create one today if you intend to apply for a Palmpay loan.

2. Valid Bank Account

A valid Bank account would be needed to transfer the funds. So, opening a bank account other than Palmpay or other fintech apps is quite important. You can walk into any bank building of your choice and request an account if you don’t have one.

3. Bank Verification Number

Your Bank Verification Number (BVN) would be needed to get a Palmpay loan. This number would enable Palmpay to have access to your previous loan history and other details about you. So, you must have it handy if you wish to obtain a loan from Palmpay.

4. Means Of Identification

A means of identification helps Palmpay get your profile. Details like your date of birth, gender, and name are attached to your identification, so you must have one before obtaining a loan. A government-issued ID card, driver’s license, and voter’s card are examples of means of identification you can use.

5. Utility Bill

The utility bill gives information about your recent address. Palmpay would be needing this to grant you access to the loan you request. Light bills and water bills are examples of utility bill shreds of evidence you can use.

6. Be Above 22 years

Being above 22 years shows that you are mature. It also shows that you can are fully responsible for the decision you take regarding taking a loan.

So far, we’ve discussed the requirements that need to be met before you can obtain a loan from Palmpay. Now, let’s consider the procedures on how to go about that.

READ ALSO: How To Become Palmpay Aggregator And Palmpay Agent and Make Money

How To Borrow From Palmpay App Easily

In this section, you are going to be reading step-by-step instructions on how to borrow from the Palmpay app easily. Let’s begin:

Step 1. Download The Palmpay App

If you do not have the Palmpay app already on your phone, then you should get it installed. It makes no sense to attempt to request a loan on Palmpay without having an account for the Palmpay app on your smartphone. Go to your app store and download the Palmpay app now to make your loan request easier.

Step 2. Sign Up

Creating an account is very important if you do not have one. Install your Palmpay app and create an account with Palmpay to get access to loans or other features on the Palmpay app.

Step 3. Tap Loans

Once you’ve successfully signed up, you would be automatically taken to your account dashboard. Then, navigate to the “Loans” tab. Once you’re there, you would be shown the amount of money you are eligible to receive as a loan.

Step 4. Submit Your Application

After you’ve clicked on the loan you wish to get, you would be asked to provide some information. After that, proceed to submit. Once you’ve successfully submitted it, you would be asked to wait for approval.


How do I borrow money from my PalmPay account?

First, you need to have the Palmpay app installed on your smartphone. After that, you need to get create an account on Palmpay if you haven’t done so. Then, tap on ‘Loans’. After that, click on the amount you want to borrow then fill out your information and submit.

What is the code to borrow money from PalmPay?

To borrow money from Palmpay, you can dial *652# on your smartphone. Select your preferred options and send.

How much is the maximum loan for PalmPay?

The maximum loan a new user of Palmpay can borrow is 10,000 naira. For the old timers, you can get loans up to 200,000 naira

What app allows you to loan money?

Several apps allow you to borrow money in Nigeria. They include Palmpay, Opay, PalmCredit, Fair Money app, etc.

Is Palmpay legit?

Palmpay is a legit app that helps users perform transactions of any kind. They have been in existence for over a year now in Nigeria.


Obtaining a loan from Palmpay is very fast and easy. By following the instructions above, you can get a loan in just a few hours. Isn’t that great?

Just as you’ve learned about how to acquire a Palmpay loan, others may not know this information. Be kind to share this information with friends by clicking the share icon below.

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