Xcredit loan app: interest rate, how to apply, is it legit - Startuppreneur

Xcredit loan app: interest rate, how to apply, is it legit

Xcredit loan app will give you instant loan without collateral or paper work in Nigeria,. Their loan application is easy you can do every thing on your phone.

Their loan processing is very fast within one hour of submitting application your loan will be disburse.


With this loan app you can obtain up to #500,000 loan without collateral or paper work.

Requirements to obtain loan from xcredit loan app

To obtian laon from xcredit you need to meet up with their requirement which are

Have good credit score


Have bvn bank account

Have source of income

Be above 18 years of age

Once you meet up with this requirement you can go ahead and apply for the loan

How to apply for xcredit loan app

The first step to take is to head over to play store and download the loan app

Register with your name, bvn and other details

You will be ask to bind your ATM card which might attract #30 fee, do so and proceed

Once you are done with registration you will be login to your account

On your dashboard locate and click on loan

There you will see amount of loan you are eligible to obtain

How much you can obtain from xcredit loan app

With xcredit loan app you can obtain up to #500,000 at a go. As a first timer you will not near this amount, the maximum amount you can obtain will be #50,000 but as you continue to use the app this eligible amount will increase.

Xcredit interest rate and repayment period

Their interest rate is between 5% to 12% depending on the amount of loan obtain and the repayment period. Their repayment period is between 7 days to 90 days. As a first timer you will be given high interest rate and short repayment period as you continue to use the app this will improve.

Paying back your xcredit loan app

To payback your loan head over to your dashboard

click on loan repayment

There you will see deferent option to pay back your loan

Click on one and make payment

Once you make payment it will reflect on your dashboard

If it does not you should contact them.

What will happen if I default or refuse to pay back

If you default you will be punish by Increase in your loan Interest rate which might be up to 2%.

If you abscond, your name and bvn will be send to credit bureau for blacklisting which means you will not be able to obtain loan again in Nigeria until you pay back and clear your name with credit bureau.

Trust me this process is usually time consuming, your best bet is to pay your loan as at when due.

Is xcredict loan app legit

Xcredit loan is legit they will surely give you loan but they are not license by CBN.

Our final verdict on xcredit loan app

Xcredit is one of the popular loan app in Nigera, they will surely give you loan. Since they have many review on play store there rating is low.

They do not send defamatory message to customer contact and the app have no bugs. They are your best bet if you want quick loan.


Above is how to obtain loan from xcredit. They will surely give you loan but do not obtain more than you can pay back try to avoid embarrassment and had I know

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