When your palmpay loan due date is approaching and you don’t have the money to make repayment, one question that will pop in your mind is if you can extend the repayment date.
In this post, I will address this question and provide you a guide on how to successfully extend your loan and keep your credit score in check.
First, you need to know that palmpay has several loan options and different features are attached to each. So also is the availability of extending the loan. For example, palmpay business loan does not have extension date feature. But you can extend palmpay ok cash loan.
The first step to know if this feature is available to you is to identify the type of palmpay Loan you took.
Palmpay OK cash
You can extend palmpay ok cash loan from the plampay app. To do this, follow the following steps:
- Open palmpay app
- On the home page, click on loans
- Click on OK cash loan
- Click on extend loan repayment date
- Confirm the new date and make a small payment of 50 naira to affect this
Palmpay business loan
This is Palmpay loan for POS business agents. This loan feature does not have a any option for loan extension. The interest on this loan is usually small and expected to be repayed in 7 to 30 days depending on the amount borrowed.
Palmpay OK Card
PalmPay’s OK Card is a buy now pay later feature on palmpay app. It allows users to buy data, airtime, and do more other transactions on credit and pay later. This loan from palmpay is interest-free. You can not extend this loan. You are required to pay back in 7 days.
Conclusion
As you can see, your ability to extend your palmpay loan is dependent on the type of loan. Always ensure you repay your loan in time to keep a healthy credit history.
