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How to Repay Palmcredit Loan Offline and Online

  • May 20, 2022

Although the Palmcredit loan repayment condition is not strict, for newbies, how to repay Palmcredit loan can be a little bit complicated.

Palmcredit offers one of the most flexible loan terms, that with just your BVN and some basic qualification requirements, you can get an instant payday loan from Palmcredit without any collateral or guarantor.

The way you get a loan it’s fast and easy on Palmcredit, so as repaying your loan is fast and easy.

If you want to know how then keep reading for I’ll show you how to repay Palmcredit loan by yourself both online and offline.

Are you ready? Then, let’s get started!

Repaying Palmcredit Loan

Even as getting a loan on Palmcredit is super easy with flexible conditions, you obviously can’t get away without repaying your loans.

This is simply because the longer you take to repay your loan, the higher your interest grows.

Repaying Palmcredit loan is very flexible especially as you have the choice to pick between online and offline payments.

Yes, Palmcredit offers multiple loan repayment options that you can choose from to easily pay your loan.

First of all, let’s see how to repay Palmcredit loan online.

How to Repay Palmcredit Loan

The following is a step-by-step guide on how to repay Palmcredit loan.

  1. Open the Palmcredit app on your phone.
  2. Find and click on “Repayment”
  3. Then choose “Repay Only” or “Repay and Re-loan”.
  4. Click on “Confirm”
  5. Now, choose from the available repayment options that includes:

Debit Card

The first and easiest way to repay your Palmcredit loan is by using your Debit Card, popularly known as Automated Teller Machine Card (ATM Card).

This can be done by clicking on the “Repay with BankCard” option, clicking any of your already linked cards, or adding a new card by entering your ATM card number, expiry date, and CVV number.

Then, click “Confirm” to proceed to make a payment which will be deducted instantly from your bank account.

USSD

USSD method is one of the repayment options you’ll see on the Palmcredit repayment option list.

To use this method, just click on Bank or USSD in the drop-down menu of the repayment options, then click “Confirm”.

Now, proceed by clicking on “Pay with USSD”. Then, copy the code on your screen and paste it to your phone dialer to make a payment.

Once done, click on “I’ve completed the payment” and your payment will be confirmed.

Please take note that the USSD repayment method only works with GT Bank accounts only.

Bank Transfer (Mobile App)

You can also repay your loan on Palmcredit using your Bank’s mobile app to transfer the fund owed.

To use this method, just click on “Bank Transfer” in the drop-down menu of the repayment options, then click “Confirm”.

Read and agree to the terms and conditions, then take note of the bank name, and then copy the provided account number and paste it into the transfer tap of your bank’s mobile app to make payment.

Alternatively, you can repay your Palmcredit loan using the Bank transfer method by:

Clicking on “Bank or USSD” in the drop-down menu of the repayment options, then click “Confirm”.

Now, proceed by clicking on “Pay with Bank”. Then, take note of the bank name and copy the account on your screen, paste it to your bank mobile app transfer tab and make payment.

Once done, click on “I’ve completed the payment” and your payment will be confirmed.

How to Repay Palmcredit Loan Offline

Now that we’re done with all the online repayment methods, let’s see how to repay Palmcredit loan offline.

To repay your Palmcredit loan offline, click on “Cash In”, and follow the steps below.

  • Find a nearby store that accepts Palmcredit repayment (just turn on your GPS, and a nearby store will be displayed on your screen).
  • Now, go to the store with your full loan repayment money.
  • On getting there, give the agent your Phone number, and C-ID to confirm account ownership.
  • Finally, pay the agent and check your Palmcredit app to confirm payment.

And that’s how to repay your Palmcredit loan offline.

Palmcredit Loan Repayment FAQs

Can I pay my Palmcredit loan before the due date?

Yes, you can repay your Palmcredit loan before the due date. In fact, it is really advisable you repay your loan before the due date so as to get a reduction in interest, and also a good credit score.

What happens if I don’t pay my Palmcredit loan?

If you don’t pay your Palmcredit loan on time, Palmcredit will keep increasing your interest rate every day.

More so, you’ll keep getting calls from Palmcredit, urging you to repay your loan.

How do you do offline repayment on Palmcredit?

You can do offline repayment on Palmcredit by simply finding and navigating to a Palmcredit store with your repayment money, phone number, and your Palmcredit Client ID to make payment.

How do I pay back my Palmcredit loan?

You can pay back your loan on Palmcredit via Bank deposit, USSD, Bank transfer, and/or your debit card (ATM card).

Conclusion:

With both online and offline loan repayment options, I believe by now, how to repay Palmcredit loan shouldn’t be something to worry about anymore since you’ve read this article.

If you still have questions concerning this topic, please feel free to use the comment box below.

Cheers!