Company Information

Get to know Palmcredit NG

Palmcredit is a virtual credit card and loan app designed for the Nigerian market. Operated by Newedge Finance Limited, which is licensed by the Central Bank of Nigeria (CBN), its mission is to provide simple, fast, and flexible financial services to individuals. The platform allows users to apply for and receive unsecured personal loans, ranging from ₦10,000 to ₦300,000, directly on their mobile phones with varying repayment tenures. The entire process, from application to disbursement, is handled digitally through its mobile app, aiming to make credit more accessible to Nigerians without the need for traditional banking collateral or extensive paperwork.

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Palmcredit NG

Nigeria

Founded in

2017 (9 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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BridgerPay

(180 reviews)

Cyprus

2017

(9 years)

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Security Information

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.