XCredit Loan App Review – Reliable mobile finance provider in Nigeria

XCredit is a mobile finance provider that is among the set of tested and reliable loan apps in Nigeria. The app has been on Google play store giving out loans to Nigerians since at least November 2019. XCredit loan app offers business and personal loans starting from ₦5,000 to a maximum ₦500,000.

How to apply for a loan from XCredit?

Getting an XCredit loan can be done easily online by:

  • Download and install the XCredit mobile loan app from Google play store or Apple store if you’re on iOS.
  • Share some information about yourself, including your employment, ID card, BVN number etc
  • Verify the information you have provided
  • Get money in your bank account once you’re approved. The whole process should not take more than 10 minutes.
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XCredit Loan App interest rate

Expect the interest rate offered on your Xcredit loan to be between 12% – 36%APR, with 0% service fee.
Example: If the loan amount is ₦5,000, the loan term is 180days, and the Interest rate is 12%, the total Interest should be ₦5,000 * 12% = ₦600.

Note: expect both your loan amount and loan tenure to be significantly lower as individual interest rate, loan amount and loan tenure are calculated based on the applicant’s credit score and credit worthiness. Keep a good credit score and repay your loan on time to qualify for higher amounts.

Is XCredit legit or a scam?

Xcredit loan is legit. A lot of customers have testified to receiving a loan from them. They’ve been around since 2019, Read other customer’s review on Google Play. However, note that this app will call your contacts and embarrass you if you default on your loan.

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What will happen if I default on my XCredit loan?

Late loan repayments automatically incur a fee of 2% per day. It is therefore advised that one does not exceed the due date. Repay the loan by its due date allows you to access larger loan sizes. Late repayments will affect your ability to get subsequent or larger loans. If you are very late on your payments, they report to the First Central Credit Bureau. Blacklisting by the First Central Credit Bureau may affect your ability to borrow from other lenders.

XCredit customer care and CONTACT

  • Facebook page: https://www.facebook.com/XcreditNG/
  • Email:[email protected]
  • Office Address:2ND FLOOR WING A, SOUTH ATLANTIC PETROLEUM(SAPETRO) TOWERS 1, ADEOLA ODEKU STREET, VICTORIA ISLAND LAGOS.(Lagos, LAGOS)

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