Xcash loan app is one the best loan app in Nigeria, with xcash you can get up to #200,000 loan without collateral or documentation, you don’t even need to go to any location to obtain the loan, with your phone and at your comfort, you will get loan disburse into your bank account.
What is xcash loan app
Xcash loan app like other loan apps in Nigeria exist to give people short loan, their loan ranges from #10,000 to #200,000 without collateral or paper back. It has been downloaded more than 500,000 times on play store with more than 10,000 review.
Requirements to get loan from xcash
Like other loan company they have their own requirements which you must meet before you can obtain loan from them, this requirements are
Be a Nigeria and reside in Nigeria
Be above 18 years of age
You will provide your name and valid email address
Have bank account and BVN
Have good credit score
Have ATM card
You must not have defaulted on any loan before
Have a source of income
Now that you know the requirements, next is to get loan from them
How to download and apply for xcash loan (app)
The first thing to do is to head over to Google play store and download, xcash loan app
Launch the app and register with your phone number, preferably the phone number you attached with you BVN
A code will be sent to you to verify the phone number
You will be ask to input your name , BVN and other details
You will be require to bind your ATM card, do so and proceed
Once you do this you will be login to your dashboard automatically
On the dashboard locate and click on loan options, there you will see loan available for you
Click it and the loan will be disbursed into your account.
Xcash loan interest rate
This depends on the loan amount and the repayment period but it is usually between 4% to 24% and the repayment period is between 91days to 180days.
Xcash charges a rate of 4% per month for instance if you borrow #100,000 the pay back plus the interest will be #104,000 in 1 month.
How much you can loan from xcash
You can obtain loan of #10,000 to #200,000 with the app provided that you have a good credit score. As a first timer your loan amount will be small but as you take loan and pay back on time, you will be able to loan more than that.
Xcash loan repayment
You have two option to repay your loan on xcash you can pay back with the ATM card you link up or contact them for their account number and do bank transfer.
When making bank transfer ensure you have the correct account number to avoid story that touch.
Is xcash loan legit, approved by CBN?
If we are talking about loan disbursement, xcash loan do give loan which means they are legit but if it is CBN approval no! they are not approved by CBN nor insured by NDIC.
What I like about xcash loan app
- You can take loan without collateral
- Have low interest rate, one of the lowest in the industry
- Easy to obtain loan from them
What I don’t like about xcash
- Small loan for first timer
- The app need to be upraded.
Xcash office address
45c Sauket St, Ikeja GRA, Ikeja, Lagos, Nigeria
Xcash phone number
Xcash email address
Xcash social media account
As I stated above xcash loan is not regulated by CBN which means they can do and undo.
If you default they might blackmail you by sending derogative messages to your contact, therefore take loan you know you can pay back to avoid had I know.
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