Xcredit Loan: Everything You Need To Know

Last Updated on Dec 11th, 2023

Xcredit is a mobile application platform developed by a fintech company based in Lagos. The platform is strictly online, although they do have an office in Lagos Nigeria. You do not have to visit their office to enjoy their services.

Xcredit Loan App

At the time of this publication, the Xcredit loan app is only available for Android devices on Google Play Store. With the app, you can easily access a personal loan. They do this by using the data on your phone including your SMS history to verify your identity and create a credit score.

Xcredit Loan
The Xcredit loan app for Android devices

How To Apply For A Loan

Applying for an Xcredit loan is pretty simple. You just need to follow the steps below:

  • Create an account
  • Apply for a loan
  • Receive your loan straight into your bank account
  • Build your loan limit each time you repay a loan
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Is Xcredit Loan Legit?

Considering the fact that we’ve seen people get loans from them, we can say it is legit. A loan platform should be able to grant loans to be seen as legit right? Well, maybe not

Customer Care

We have seen lots of complaints about the Xcredit customer service. Some customers claim that the customer service personnel have been unprofessional in the way they reach out to them when their loan expired.

You can search for their Facebook page ‘Xcredit’ to contact them. The page has neither a customer care number nor any other Xcredit contact. You’ll need to send them a message on the platform.

Pros and cons of Xcredit Loan


  1. Quick and easy access to loans.
  2. No collateral.
  3. No paperwork.
  4. Zero service fee charge.


  1. Xcredit is available for a maximum tenor of 180 days. This makes it suitable for only short-term loans.
  2. They currently only offer loans up to N500,000.

What are the minimum and maximum amounts you can borrow from Xcredit?

The Minimum loan amount Xcredit offers is N5,000, and a maximum of N500,000.

Interest rates

Xcredit offers an interest rate of 12% of the amount borrowed. For example, if you borrow N10,000 for a tenor of 120 days, then at maturity, the total interest would be:

N10,000 * 12% = N1,200.

Are there other charges applicable to Xcredit?

No, there isn’t. Xcredit charges a 0% service fee on every loan you borrow. The loan amount is sent directly to your preferred bank account.

What are the minimum requirements for taking an Xcredit loan and how do I apply?

All you need to obtain a loan from Xcredit is a functional bank account and an account with Xcredit. Follow the steps below to apply for a loan:

  1. Download and install the XCredit mobile application from the google play store.
  2. Create your XCredit account and input all requested information.
  3. Apply for a loan.
  4. They pay the loan directly into your bank account.

Note that your loan limit builds up every time you repay a loan.

How quickly are Xcredit loan funds released?

It only takes a matter of minutes from the application to the disbursement of the loan into your account.

Xcredit Repayment terms

Terms that apply to the repayment of Xcredit loans are:

  1. An interest rate of 12% of the amount borrowed.
  2. A maximum tenor of 180 days, after which the loan would have to be paid.
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Taking loans is easiest with Xcredit. No collaterals, and no paperwork, and it is accessible to anyone with a bank account. You should take advantage of this easy loan offered by Xcredit to meet emergency and unexpected needs as they arise. You can learn about loan calculators here.

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