Xcash loan app: How to apply, interest rate, is it legit and more - Startuppreneur

Xcash loan app: How to apply, interest rate, is it legit and more

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 contacts

Xcash office address
45c Sauket St, Ikeja GRA, Ikeja, Lagos, Nigeria

Xcash phone number

Xcash email address
[email protected]

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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