How to deactivate, close or delete Palmcredit Account

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Hello and Welcome, Today we’ll be discussing On How to deactivate, close or delete Palmcredit Account.

Palmcredit is a digital lending platform in Nigeria providing quick, short-term loans. If you no longer need their service and wish to discontinue your Palmcredit account, you can easily deactivate or delete it.

This comprehensive guide covers step-by-step instructions to temporarily or permanently close your Palmcredit account using the app or website.


Palmcredit, owned by SFS Financial Services, launched in Nigeria in 2015 as an instant loan app. They offer quick collateral-free loans, bill payments and funds transfers.

While Palmcredit provides access to fast financing, excessive dependence can encourage over-borrowing. When you want to take a break or no longer need their service, you can deactivate or delete your account.

This guide will take you through how to easily close your Palmcredit account temporarily via deactivation or permanently through account deletion using the app or website.

Reasons to Deactivate or Delete Palmcredit Account

Here are some common reasons for deactivating or deleting your Palmcredit account:

  • You no longer require loans from Palmcredit
  • You want to limit excessive borrowing
  • You are facing difficulty repaying active loans
  • You don’t frequently use their other services now
  • You want to stop their promotional communications
  • You have security concerns about the app
  • You are closing the bank account linked to Palmcredit

As your financial situation changes, re-evaluating lending apps is wise. Deactivation offers temporary relief while deletion provides permanent closure.

How to Temporarily Deactivate Palmcredit Account

To temporarily deactivate your Palmcredit account, follow these simple steps:

  • Open the Palmcredit app and go to Profile > Settings
  • Tap on ‘Deactivate account’ option
  • Enter your registered phone number and account PIN
  • Read the prompt and confirm deactivation

Your Palmcredit account will now be instantly deactivated temporarily, blocking access to services until you reactivate.

How to Permanently Delete Palmcredit Account

How to deactivate, close or delete Palmcredit Account

To delete your Palmcredit account permanently, do this:

  • Open Palmcredit app and go to Profile > Settings
  • Tap on ‘Close account’ option
  • Enter registered mobile number and account PIN
  • Select reason for closure from options
  • Read prompt and confirm permanent account deletion

Once confirmed, your Palmcredit account will be closed instantly and cannot be retrieved.

Closing Palmcredit Account via Website

In addition to the app, you can also deactivate or delete your Palmcredit account using their website:

  • Go to Palmcredit website and login
  • Under ‘Profile Settings’ select ‘Deactivate account’ or ‘Close account’
  • Enter registered phone number and account PIN
  • Read prompt and confirm deactivation or deletion

This conveniently allows you to close your Palmcredit account access using a web browser too.

Important Notes Before Closing Palmcredit Account

Before closing your Palmcredit account, take note:

  • Clear any pending loan repayments first
  • Withdraw available account balance to bank
  • Your credit history with Palmcredit remains intact
  • Deactivated accounts can be easily reactivated
  • Deleted accounts are closed permanently and can’t be restored

Completing pending transactions is vital. Deactivation is temporary while account deletion is permanent.

Benefits of Closing Palmcredit Account

Here are some benefits of deactivating or deleting your Palmcredit account:

  • Control overborrowing – No access to new loans prevents debt traps
  • Enhanced security – Account closure removes risks of misuse/fraud
  • No promotions – Deactivation stops marketing communication
  • Peace of mind – Deletion provides relief if you no longer want their services
  • Financial prudence – Closure enables more mindful borrowing habits

As your needs evolve, closing lending accounts provides a clean break to unnecessary services and judicious financial management.

Tips for Closing Palmcredit Account Securely

Use these tips when deactivating or deleting your Palmcredit account for better security:

  • Never share account closure details or OTP with anyone
  • Delete Palmcredit app from your phone post-closure
  • Clear browsing data if you closed account online
  • Avoid public networks during the closure process
  • Change passwords for associated accounts as a precaution
  • Retain deactivate/delete confirmation communication

Taking these measures ensures your Palmcredit account closure is safe, smooth and permanent.

FAQs On How to deactivate, close or delete Palmcredit Account

How to deactivate, close or delete Palmcredit Account

1. How do I temporarily disable my Palmcredit account?

You can easily temporarily deactivate your Palmcredit account through the app or website under account settings. This allows future reactivation.

2. What happens when I permanently delete my Palmcredit account?

Permanent account deletion terminates your Palmcredit account fully and removes all associated data. The closure is irreversible.

3. Can I retrieve my closed Palmcredit account?

No, there is no way to retrieve or restore a Palmcredit account after permanent deletion either by you or by Palmcredit.

4. Do I need to clear outstanding loans before closing my account?

Yes, you need to repay any active or overdue loans first before being allowed to close your Palmcredit account.

5. How long does it take to deactivate or delete a Palmcredit account?

Deactivation or deletion is an instant process after identity verification. Your account gets closed immediately.

6. Will closing my account impact my credit score?

No, deactivating or deleting your Palmcredit account does not directly affect your overall credit profile or history.

7. Can I reactivate a deactivated account later?

Yes, you can easily reactivate a temporarily deactivated Palmcredit account anytime through the app or website.

8. Is there a reactivation fee?

No, Palmcredit does not charge any fee to reactivate a deactivated account.

9. How is permanent account deletion different from deactivation?

Deactivation is temporary – account can be reactivated. Deletion is permanent – account is closed forever and cannot be restored.

10. Will my data be deleted if I close my account?

For deactivated accounts, data is retained allowing reactivation. For deleted accounts, all personal data is erased permanently.

11. Can I still access my account if deactivated?

No, deactivating your account blocks all access temporarily until you reactivate it again.

12. Where can I get help if I face issues deleting my Palmcredit account?

You can contact Palmcredit Customer Service through email or chat for assistance with any account deletion issues.

Read more: finance instant loan in nigeria which app gives loan immediately in nigeria 


As we have seen, closing your Palmcredit account is quick and straightforward whether you want temporary deactivation or permanent deletion. Just access the in-app or website settings to select account closure option.

Make sure to clear any pending dues, withdraw account balances, and take security precautions during the process. Deactivated accounts can be easily reactivated if needed in future.

However, deleted Palmcredit accounts are permanently terminated with no option to restore or retrieve data. As your borrowing needs evolve, you have full control to close your Palmcredit account following the simple guided steps.

Palmcredit’s intuitive account closure procedures allow seamless exit from their services when required. Whether you need a temporary break or want to delete your account forever, the self-service deactivation and deletion options put you in control.

So don’t hesitate to close your Palmcredit account if you feel you no longer need it. Just follow the outlined app/website process to swiftly and securely deactivate or delete your account and move on financially.

After reading this blog you know How to deactivate, close or delete Palmcredit Account.

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