PickCredit Loan App Review (2022): How to get loan from PickCredit

You may need loan to start up a business, pay medical bills, or make up for rent, this article is highly recommended for you. With the information provided here, you can simply download the loan app and get approved for a loan instantly.

In this post, we #ms-legit will review the PickCredit loan app, guide you through how it works, show you how to apply for a loan using the PickCredit app, and many more.

What is a PickCredit Loan?

PickCredit is an online lender that provides loans to qualified borrowers in Nigeria. With just your BVN and an ID card, you can get a cash limit of NGN8,000 to NGN300,000 sent to your bank account within minutes. You do need to have a good credit score, and a good SMS banking record on your phone to qualify for higher amounts.

This app is one of the greatest online lenders in my opinion, and our PickCredit loan review will explain why.

PickCredit Loan is a leading loan platform where you can get an instant online loan in Nigeria. It uses data science to increase access to financial services for millions of Nigerians. The platform offers instant loans that help people achieve their business and personal needs. The company operates in Nigeria.

The app is available for download via the Google Play Store if you’re an Android user.

Get a loan up to N300,000 at the best affordable rates in Nigeria

Now you can compare interest rates from different lenders with our loan simulator and get the best deal. Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today.

READ ALSO:  Top 10 Student Loan Apps In Nigeria (2023)

Loan Offered by PickCredit Loan App?

PickCredit Loan app offers a variety of loan options;

  • Loan for a business
  • Loan for travel
  • Loan for personal use
  • Loan in an emergency
  • Loan for medical reasons

What are the Processes to Obtain a PickCredit Loan?

PickCredit loans are obtained using a smartphone, and you will not be required to present security before your loan is granted.

  1. Once the PickCredit app is being downloaded, you will be asked to provide your contact information, such as your phone number (ideally the one that gets bank notifications), bank verification number (BVN), and bank account number.
  2. PickCredit will then seek access to your phone details, SMS records, contact lists, and GPS data. They will generate a credit score for you based on this information.
  3. Your credit score impacts how much you may borrow, the payment plan you can pick, and the interest rate you will pay on your loan. A high credit score improves your chances of approval.
  4. Make sure you have enough Internet connectivity on your phone before signing up so that the app can appropriately compute your credit score.

Eligibility Requirements for PickCredit Loans?

You would not have to offer any collateral or fill out any paperwork to apply for a loan on PickCredit. PickCredit will just ask for the following information to set up your account and credit score.

  • Be a Nigerian citizen or legal Resident.
  • Be between the ages of 18-55 years old.
  • Have a Monthly income source.
  • Bind your ATM card to your account

What is the Interest Rate of PickCredit Loan?

PickCredit loan interest rates differ and are determined by a variety of variables. These considerations include your credit risk, bank history, lending costs, and payback history with PickCredit.

The interest rates you may expect if you apply for a loan using the PickCredit app are listed below.

Loan period: the loan range is from 7 days to 360 days ,
Loan amount: the loan amount is from NGN 8,000 to NGN 300,000
Loan interest: Interest rate:15% – 35% APR,no additional fees.
Service fee: 0%
Handling fee: 0%

READ ALSO:  Top 10 Student Loan Apps In Nigeria (2023)

Take a case for example:
if a customer borrows ₦10,000 for 180 days (6 months), the APR is 18%
So the total Interest would be 10,000 NGN 18%180/365 = 887 NGN.
The monthly payment would be (10,000 NGN +887 NGN )/6 = 1,962 NGN.
The total repayment amount would be 10,887 NGN.

Note that this interest rate and loan duration is just an example, expect your actual loan and duration to be much lower. Borrowers with a good credit score (credit history) often receive the lowest interest rates.

What are PickCredit Loan Limits?

Currently, Swiftkash only provides loans ranging from N8,000 to N300,000, with the most you can borrow being N300,000 and the least being N300,000.

As a new user, you cannot borrow more than N300,000. You must initially borrow and successfully return lesser loan amounts on time.

This manner, you can increase your credit limit and your ability to borrow higher sums.

How Do I Get A Loan From PickCredit as a Nigerian?

Borrowing money from PickCredit is very easy and can be done within 20 minutes, or even less! You can follow the steps below to get access to a loan.

  1. Download the PickCredit Loan app from Google Play Store (there’s no PickCredit Loan app for iOS users at the time this post was published)
  2. Create an account and fill out a simple form. Ensure that you provide your accurate details to avoid unnecessary delays in receiving your loan
  3. Find out the amount of money you’re eligible to receive a loan and apply
  4. Receive the money in your bank account in not more than 24 hours

Procedure for obtaining a PickCredit loan?

  • Launch the PickCredit loan app.
  • Register an account
  • Select “My loan” from the menu.
  • Choose your loan amount and payment terms.
  • You can repay your loan on a weekly or monthly basis. Alternatively, you can pay back within two months.
  • To view the entire terms of your loan, click on “Loan information.” You will see the payment due date as mentioned in the loan terms.
  • Click on “See all charge information” to find out what your interest rate is.
  • After you’ve decided on the loan amount and terms, click “Request this loan.”
  • On the following page, you will be prompted to select the bank account into which you would like the loan to be deposited.
  • If you have a decent credit score, you will receive your loan within 24 hours.
READ ALSO:  Top 10 Student Loan Apps In Nigeria (2023)

Process of Paying Off A PickCredit Loan?

To repay your loan with the PickCredit app, simply log into the PickCredit lending app.

  • Select “My loan” from the menu.
  • Tap the “Tap to Pay” button.
  • Enter the amount owed (the amount will depend on the loan terms you agreed to when applying for the loan).
  • You can return your loan with either your bank card or your ATM card.

PickCredit Loans Customer Service?

If you have any problems with loan repayment or receiving cash after approval, you may quickly contact Branch using the channels listed below.

Email: columba.mmenyene.aniedi@gmail.com

You may also contact them via the app by selecting Customer Care from the app’s menu.

What Happens If I Don’t Repay My PickCredit Loan?

Late payments or inability to repay loans can reduce your credit limit and prevent you from obtaining subsequent or larger loans. PickCredit may also report you to the National Credit Reference Bureau, preventing you from obtaining loans from other lenders.

Is PickCredit Loan Legit?

Yes! From our experience with PickCredit Loan, I can say that they do what they say. No hidden charges. You just need to ensure that you make your loan repayment once it’s due to avoid having issues with the credit bureau.

Is PickCredit Loan Scam?

No! We discovered that PickCredit is extremely safe to use while completing our PickCredit loan evaluation.

Final Verdict

If you’re seeking for a legitimate and reliable means to obtain loans of up to N300,000, you should download the Swiftkash app. New users, on the other hand, may only obtain loans of up to N10,000.


At the moment, the PickCredit loan app is one of the top most-downloaded finance apps in Nigeria and widely used when compared with other lenders. The app takes care of loan needs with ease, allowing you to focus on growing your business and achieving your personal goals. In the process, it has reached more people, pulling them out of financial exclusion.

We have curated posts on some other lending platforms such as  Branch loan, FlashLend,  EaseMoni, Carbon loan, FairmoneyWe Credit, and so on.

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