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.
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.
Applying for an Xcredit loan is pretty simple. You just need to follow the steps below:
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
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.
The Minimum loan amount Xcredit offers is N5,000, and a maximum of N500,000.
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.
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.
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:
Note that your loan limit builds up every time you repay a loan.
It only takes a matter of minutes from the application to the disbursement of the loan into your account.
Terms that apply to the repayment of Xcredit loans are:
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.