PickCredit Loan App Review: personal loans in Nigeria

PickCredit is a loan app designed to give Nigerian collateral-free personal loans between N8,000 and N300,000.

The relatively new app on Google play store uses Artificial Intelligence AI to analyze prospective customers financial records, including the bank transaction SMS on their phones and their credit worthiness from other lenders. To qualify for a loan and get a high loan amount always keep your bank transaction records on your phone.

The loans also comes with a flexible repayment plan and the app is easy to use with user-friendly interface for an easy loan application process.

How to Download and Apply for PickCredit loan

  • 1.Download PickCredit App from google play store and install.
  • 2.Register an account with your phone number.
  • 3.Fill in basic information.
  • 4.After the submission of your loan application, the algorithm will analyze your credit score and the final result will be shown in the APP.
  • 5.If approved, the loan amount will be disbursed into the bank account directly.

What are the requirements?

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

PickCredit loan app interest rate?

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%

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.

This interest is just as an example, expect your loan amount and period to be significantly lower if you’re borrowing for the first time. You can increase your amount by keeping good records and paying back loan on time.

Is PickCredit loan app legit?

Yes, PickCredit Loan app is legit and does give out loans to customers but with extremely high interest rates most especially for first time borrowers. Read other customer’s reviews on play store before you apply for a loan.
Loan application process is absolutely secure and safe. PickCredit promises that never share customer’s information to anyone without consent.

What PickCredit loan app can improve?

Pick credit has a smooth interface for easy loan application process, that is about the only positive thing on this loan app.

First, the loan interest rate on the app is extremely high especially for first time borrowers. The app can also trick borrowers into taking the extremely high interest. for example, when you apply for a loan the app will calculate how much you qualify for and make you a loan offer.

But your loan offer already contains the interest. Most first time borrowers get approved to receive N8,000 but end up with a loan disbursement of N5,000 or less in their bank accounts and will be expected to pay back N8,000 plus interest within 7 days or face consequences. Some customers have also complained of hidden charges in addition to all these.

PickCredit loan app is supposed to be an instant loan app but some customers have been kept on review, unable to receive loan disbursement for days despite qualifying for one.

This app does not seem to have a functional customer service phone number, only an email is available for customer support services.

PickCredit loan app customer service number

This is the only customer service contact available for this as app.


A writer! Columnist and an academic researcher
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