When it comes to quick, flexible credit access in Nigeria, Parallel Cash stands out for offering a revolving line of credit model. Instead of applying for a new loan each time, you get an approved credit limit and can withdraw funds as needed. It’s a practical solution for Nigerians looking for financial flexibility—but user feedback reveals areas that still need attention.
What Is Parallel Cash Loan App?
Parallel Cash is a digital credit platform that offers a personal line of credit (PLOC). Once approved, users can borrow multiple times within their credit limit, choosing how much to withdraw and when to repay. This flexibility sets it apart from traditional one-off loan apps.
Loan Features at a Glance:
- Credit Line: ₦80,000 – ₦300,000
- Repayment Term: 180 – 280 days
- APR: 12% – 30%
- Processing Fee: ₦300 (one-time per withdrawal)
- Interest Charged Only During Use Period
Example Calculation:
- Borrow ₦50,000 for 150 days at 12% APR:
- Interest: ₦2,460
- Fee: ₦300
- Total Repayment: ₦55,460
- Borrow ₦150,000 for 200 days at 30% APR:
- Interest: ₦24,600
- Fee: ₦300
- Total Repayment: ₦177,600
This model allows users to repay at any time, and the credit line is restored once the debt is cleared.
How It Works
- Download the App and sign up
- Apply for Credit Approval based on income and ID
- Get Your Credit Limit and withdraw as needed
- Repay Anytime within the maximum term
No fees are incurred unless you actually withdraw funds.
Benefits of Using Parallel Cash
- ✅ Revolving Credit Line: Once approved, you don’t have to reapply for every loan.
- ✅ Use What You Need: Withdraw partial amounts as needed.
- ✅ Interest Only When Active: You’re charged interest only during usage, not for the full validity period.
- ✅ No Activity, No Fee: If you don’t withdraw, you don’t pay.
- ✅ Flexible Repayment: Pay early, repay in parts, or on the due date.
Honest User Feedback: Real Voices
👍 Positive Impressions
“Nice app, good service, instant credit. Just work on your repayment durations.” — Evang. Wisdom Chinedu, April 30, 2025
“Nice loan service. I’ve used it several times. But please improve on credit limit increases.” — Dedamola Ademola, May 21, 2025
“I paid before my due date to avoid issues. The app is okay, just make sure repayment reflects properly.” — Sonia Ifeoma, April 13, 2025
👎 Common Complaints
“Customer service is unavailable. Calls don’t go through, emails unanswered, WhatsApp inactive.” — Solomon Damilola, April 28, 2025
“Despite early repayment, my dashboard still shows I’m owing. This needs to be fixed.” — Chimezie Nwakwuo, May 2, 2025
“Interest is too high and the repayment term too short. Please make it more reasonable.” — Chinedu Okoye, April 30, 2025
“I’ve completed payment, but the app still shows outstanding balance. Not acceptable.” — Bank Success, May 6, 2025
Clearly, technical and support issues are pain points for many users.
Who Is Eligible?
- Nigerian citizens
- Ages 20 to 65
- Steady source of income
Parallel Cash Loan app Customer Contact Information
- Phone: +234 09013263545
- Email: parallelnrluservice@outlook.com
- Address: 1 Victor Idowu St, Lugbe 900107, FCT, Nigeria
Final Thoughts: Is Parallel Cash Worth It?
Parallel Cash offers a user-friendly, flexible credit experience that’s ideal for people who prefer to borrow only when needed. The revolving limit system is a strong feature for budgeting and managing expenses.
However, delayed loan clearance and unresponsive support are clear drawbacks. For many users, the app’s service reliability will determine whether they stick with it or switch to alternatives.
Rating: ⭐⭐⭐ (3/5) — Functional and flexible, but in need of technical and support improvements.
