How to Extend PalmPay Loan

PalmPay has a loan extension feature on their mobile app that enables users to extend their loan due date should the need arise.

With this feature, borrowers can easily extend their loan repayment plan if they don’t meet up on the due date. However, you can only extend your PalmPay loan once, and the feature is not available to all their users.

Extending a Palmpay loan is quite simple and pretty easy since you can extend it from your comfort zone using the app without necessarily visiting their physical office.

PalmPay Loan

How to Extend PalmPay Loan

PalmPay, as a fintech company, offers a variety of financial services, including instant loans, to its users. Their loan term and interest rate vary depending on the borrower’s creditworthiness and reputation built over time.

This loan is available to all qualified individuals who use the platform. With this loan, borrowers can get temporary financial relief to meet their urgent needs.

Why extend the PalmPay loan?

While it is very important to repay your PalmPay loan on or before the due date, there are some unforeseen circumstances that may lead borrowers to want to extend their loan repayment date; hence, it becomes imperative to know how to extend your PalmPay  loan to enable you to use the feature should the need arise.

We know that life can happen to anybody, which may change your financial status and lead you to default on your loan repayment. Since failure to repay the PalmPay loan comes with lots of consequences, it makes sense to extend your loan repayment period, especially if you find out that you won’t meet the due date.

Is it Possible to Extend the PalmPay Loan?

Yes, it is possible to extend the PalmPay loan. However, you can only extend your loan repayment plan once. This means that if you fail to repay your loan after the first extension, you won’t be able to extend the due date a second time. Hence, it is best for you to do everything within your reach to pay off your PalmPay before your extended date elapses.

How to Extend PalmPay Loan

Knowing that it is possible to extend your PalmPay loan, let’s quickly look at the steps that you can follow to extend your PalmPay loan. They are:

  • Open your PalmPay app and login with your details
  • Look below the app’s homepage and tap on the ‘’Loan Tab”.
  • Once you click on loan tab, you will be able to see your overdue loan
  • Below your ‘’Overdue Loan’’, you will see a loan extension button.
  • Once seen, click on it and follow the on-screen instructions carefully.
  • If done correctly, you will be able to extend your PalmPay loan, hence repaying it on the new due date.

N/B:

This option may not be available to all users, so if you have the loan extension option on your PalmPay app, then you will need to swiftly repay your loan to avoid the accumulation of interest rates and destroying your credit score. Meanwhile, if you’ve got the loan extension option on your app, then follow the steps above to extend your loan.

Author

  • Nwibo Calistus

    My name is Calistus. I am a seasoned financial expert with over four years of experience in the financial sector. With a background in accounting and financial management. Throughout my career, I have demonstrated a commitment to empowering individuals and businesses to make informed financial decisions. I am passionate about simplifying complex financial concepts. Which is evident in my published articles that are characterized by clarity, depth, and practicality. In addition to writing, I am also a financial adviser and a consultant. I have been invited to different industry conferences and events where I shared expertise and guidance on financial management and how to scale up businesses. So, if you need writing, speaking engagements, or consulting work, I remain committed to empowering individuals and businesses to achieve financial success and security.

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