Home Finance How to Close, Delete or Deactivate Your Palmcredit Account Easily

How to Close, Delete or Deactivate Your Palmcredit Account Easily

Palmcredit is a popular online lending platform that provides instant loans to individuals in need of financial assistance. With its easy application process and quick disbursal of funds, Palmcredit has gained a large user base across Nigeria.

One of the main features of Palmcredit is its flexible repayment options, allowing borrowers to repay their loans in installments over a specified period. This has made it convenient for many users to access funds and manage their financial obligations.

However, there may come a time when you no longer require the services of Palmcredit or you may want to explore other lending options. In such cases, you might consider closing, deleting, or deactivating your Palmcredit account.

Closing your Palmcredit account means that you will no longer be able to access loans or any other services offered by the platform. Deleting your account involves permanently removing your information from Palmcredit’s database while deactivating your account temporarily suspends your access to the platform.

In this blog post, we will guide you through the process of closing, deleting, or deactivating your Palmcredit account. We understand that it can be confusing to navigate these steps but rest assured, we are here to make it simple and straightforward for you. Stay tuned for our step-by-step instructions in the following sections.

Reasons why you might want to close your Palmcredit account 

If you’re considering closing your Palmcredit account, you’re not alone. Many people have various reasons for wanting to take this step. Here are some common reasons why you might want to close your Palmcredit account:

  1. High-interest rates: Palmcredit’s interest rates may be too high for your financial situation. If you’ve found a more affordable lending option, closing your Palmcredit account can help you avoid these high rates.
  2. Improved financial stability: If you’ve managed to improve your financial situation and no longer need to rely on loans, closing your Palmcredit account can be a smart move. It allows you to distance yourself from unnecessary debt.
  3. Privacy concerns: Some individuals prefer not to have their financial information stored on online platforms. Closing your Palmcredit account can give you peace of mind and ensure that your personal details are not at risk.
  4. Expired loan agreements: Once you’ve successfully repaid your loan with Palmcredit, you may want to close your account to avoid any unexpected charges or accidental withdrawals in the future.
  5. Limited borrowing options: If you’re looking for a different lending platform that offers more flexible terms, closing your Palmcredit account opens up the opportunity to explore new options.
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Remember, closing your Palmcredit account is a personal decision based on your unique circumstances. Whatever your reasons may be, it’s essential to follow the proper steps to ensure a smooth and hassle-free account closure. Stay tuned for our step-by-step instructions in the following sections.

Steps  to Close, Delete or Deactivate your Palmcredit Account Easily

Here’s how to do it easily:

  1. Log in to your Palmcredit account: Start by opening the Palmcredit app or visiting the Palmcredit website and logging in using your credentials. Make sure you have access to the email or phone number associated with your account.
  2. Navigate to account settings: Once you’re logged in, look for the account settings or profile options. It’s usually represented by a gear or person icon. Click on it to access your account settings.
  3. Locate the “Close” or “Delete” option: In your account settings, you should find an option to close, delete, or deactivate your account. It may be listed as “Close Account,” “Delete Account,” or something similar. Click on it to proceed.
  4. Follow the prompts: Palmcredit may ask you to confirm your decision or provide feedback on why you’re closing your account. Follow the prompts and provide any necessary information.
  5. Confirm the closure or deletion: Once you’ve provided the required information, you will usually be asked to confirm your decision. Read through the confirmation message carefully and click on the confirmation button.
  6. Wait for confirmation: After confirming, Palmcredit may send you a confirmation email or notification stating that your account closure, deletion, or deactivation request has been received and processed. Keep an eye on your email or app notifications.

And that’s it! You’ve successfully closed, deleted, or deactivated your Palmcredit account. Remember to check your email or app for any further instructions or confirmations from Palmcredit. If you encounter any difficulties, reach out to Palmcredit customer support for assistance.

Closing, deleting, or deactivating your Palmcredit account can be a straightforward process if you follow these steps. Make sure you have no pending loans or outstanding balances before closing your account to avoid any complications. Good luck!

What to do if you encounter any problems closing your account 

Encountering problems while closing your Palmcredit account can be frustrating, but don’t worry, we’ve got your back! If you face any difficulties during the account closure process, here are a few steps you can take to resolve them:

  1. Contact Palmcredit customer support: If you’re experiencing issues, the first thing you should do is reach out to Palmcredit’s customer support team. They are equipped to handle account-related problems and can guide you through the closure process. You can usually find their contact information on the Palmcredit website or app.
  2. Provide all necessary information: Make sure you have all the required information ready when contacting customer support. This includes details such as your account number, registered phone number, and any relevant transaction or loan information. By providing comprehensive information, you’ll help customer support better understand your issue and assist you accordingly.
  3. Follow up: If you don’t receive a timely response or a satisfactory solution, don’t hesitate to follow up with Palmcredit customer support. Persistence can often help resolve account closure problems faster.
  4. Seek legal assistance if necessary: In rare cases where your concerns aren’t addressed or you believe there is a breach of privacy or financial misconduct, it may be advisable to seek legal advice. Consult with a professional who specializes in consumer rights or financial law to understand your rights and explore further options.
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Remember, patience is key when resolving account closure problems. Stay calm, be persistent, and reach out for assistance when needed. With the right approach, you’ll be able to resolve any issues you encounter while closing your Palmcredit account.


What happens if I don’t pay Palmcredit?

If you don’t pay your Palmcredit loan, you will be charged interest and late fees. Your account may also be sent to collections, which could damage your credit score. In some cases, Palmcredit may also sue you to collect the debt.

Which bank owns Palmcredit?

Palmcredit is not owned by any bank. It is a subsidiary of Newedge Finance Limited, a financial technology company in Nigeria.

Who is the owner of Palmcredit loan?

The owner of Palmcredit loan is Newedge Finance Limited.

How do I permanently delete my PalmPay account?

To permanently delete your PalmPay account, you need to follow these steps:

  1. Log in to your PalmPay account.
  2. Go to the “Profile” tab.
  3. Click on the “Settings” icon in the top right corner.
  4. Scroll down and click on “Delete Account”.
  5. Enter your password and click on “Delete Account” again.
  6. Your account will be deleted permanently.

What happens when you owe PalmPay?

If you owe PalmPay money, they may take a number of actions to collect the debt, including:

  • Charging interest and late fees
  • Sending your account to collections
  • Suing you
  • Garnishing your wages
  • Placing a lien on your property

If you are struggling to repay your PalmPay loan, you should contact them as soon as possible to discuss your options. They may be able to work with you to create a repayment plan that you can afford.


In conclusion, closing, deleting, or deactivating your Palmcredit account is a simple process that can be done in just a few steps. Whether you’re looking to explore other lending options, improve your financial stability, or simply have privacy concerns, following the step-by-step instructions provided in this blog post will help you achieve your goal.

Closing your Palmcredit account is a personal decision that can have a positive impact on your financial situation and peace of mind. By following the steps outlined in this blog post, you can confidently close, delete, or deactivate your Palmcredit account and move forward with your financial journey. Good luck!