Xcredit loan app as a financial application has made online loan easier for individuals and with your mobile phone alone, you will be able to apply for a loan and get paid to your Nigeria bank account if your loan application meet the necessary requirements and get approval.
Today, I will be revealing Lal you need to know about the xcredit loan, the requirements to get your loan application approved, customer care number, loan repayment process and other things you should know about the xcredit loan app.
About xcredit loan app
Xcredit loan app is an online mobile loan application that provides individuals with loans without the need of collateral. With the xcredit loan, all you have to do to have access to a loan is to download the app and Install it on your mobile phone. The detailed information on how to qualify for a loan will be revealed to you in the layer part of this guide, Keep reading!
On x credit loan app, you will be eligible to apply for a loan of ₦5,000 and up to ₦500,000 without any form fill of stress, the more your credit score, the higher the loan amount you will be eligible for.
XCredit has made getting a personal loan simple by using the data on your phone including your SMS history to verify your identity and create a credit score. X credit loan encrypt the data you choose to share with them to protect your privacy. Xcredit has however promised to take your privacy very seriously and promise to never share your information with third parties.
Xcredit Loan Interest Rate
This is one of the factors you should look out for, whenever you’re trying to use the service provided by any online lender, I remembered saying this in fairmoney loan app detailed guide and other guides pertaining loan application in Nigeria.
You must firstly check the interest rate to make sure it’s low as compared to other loan app, the will prevent you from Unnecessary stress and some funny scene.
X credit Loan App offer it’s users with a loan of amount ranging from ₦5,000 to ₦500,000 and the shortest tenor of any loan on the platform is 91 days, while the longest tenor is 180 days. The xcredit loan Interest rate is 12%-24% APR with a service Fee of 0%.
How x credit loan interest rate is being calculated
If the loan amount you requested for is ₦5,000, and the loan term is 180days, with the Interest rate of 12%, the total Interest should be ₦5,000 × 12% = ₦600.
The total amount due would be ₦5,000+₦5,000 × 12% = ₦5600.
Xcredit Loan Requirements
In other to be eligible for a loan on the x credit loan app, you must have some requirements in places and in this section, I will be listing out all the requirements and this will give you a chance ahead of others, in getting your loan application approved on the platform.
1. Age: You must be older than 18 years old for you to be eligible for a loan on the platform.
2. Citizenship: You must be a Nigeria citizen and reside in Nigeria. As at the moment of writing this guide, the app is only operating in Nigeria and been headquartered in Lagos.
3. Valid source of monthly income: you will be provided with options to choose from, during the Registration.
4. Valid basic information: Make sure you provide valid information during your registration.
5. Credit limit: This is determined by evaluation of your daily transactions including the inflow and outflow rate on the bank account you provide on the app during your registration. If will help xcredit to know the amount you can be able to borrow and you can extend your loan limit by repaying the outstanding loans on time.
Xcredit loan registration
To register on the x credit loan app, all you have to do is to download and install the app on your mobile phone. Scroll down to the xcredit loan app download section of this guide.
Once you are done with the installation of the open it and swipe to the right till get started button appears, click on the get started button and you will be provided with a box to input your phone number. Input your valid phone number and click on the arrow at the bottom of the page.
You will receive a call from x credit, simply pick it and listen to the four digits code that will be pronounced, drop the call and return to the page to enter the code. In case you are no comfortable with the call option, simply click on the sms button and the OTP will be sent to you via SMS, confirm the phone number and set your account dashboard.
You will be redirected to the page where your basic information like bank verification number, name, address, source of income and others will be asked. Fill the form appropriately with a valid information and once you complete this stage, you can proceed to apply for a loan directly.
How To Apply For A Loan On Xcredit
Open the app and click on the button provided for loan application. Select the amount you want to borrow and as well as the loan tenor. This is the duration it will take before you Repay the loan.
Submit the loan application and wait for the review team to review and approve or decline your loan application. If the application is approved, you will know via your dashboard and the loan amount will be disbursed to your Nigeria bank account.
How To Repay xcredit Loan
To Repay your loan bon xcredit app, simply login to your account and navigate to the loan area, you will see the breakdown of the outstanding loan including the due date.
Simply click on the option provided for repayment, select the best repayment method that is convenient for you and follow the prompts to complete the Repayment.
Xcredit loan APK Download
Having gone through the detailed information on how the x credit loan app works, the next thing is to download and install the APK on your phone, so as to be able to explore the app further and get to understand fully, what the app has to offer you.
Name xcredit loan apk
Version Latest Version
How To Install x credit app APK
To Install the APK file, simply open your phone gallery and navigate to the download folder, locate the file you just Download above and click on it. You will see Install option, click on it and wait for the installation process to complete.
Xcredit loan app download
I fully understand that as some preferred installation of the app, via the APK file, so as some also prefer downloading the app directly from play store and to make this installtion easier for everyone, I will be stopping the link to download the app directly from play store in this section.
With this provision, you will be able to evaluate the both options and choose the one that is most convenient for you.
Name Xcredit Loan App
Version Latest Version
Service Loan Provider
To login to your xcredit loan app, simply open the application and you will be taken to your account dashboard, if your login session hasn’t expired.
But, if your login session has expired, you will see two boxes, enter your phone number Into the one at the top and your login password Into the on at the bottom, the click on the arrow button at the bottom of the app. In some cases, you will be provided with only one box, which is the one provided for password, enter your password and proceed to your dashboard.
Xcredit customer care
If you encounter any issue during the loan application or Repayment or you have any issue using the app, the beat way to resolve this issues is to contact the x credit customer care and in this section, I am going to provide you with all the possible means to contact them.
You can contact x credit customer care via any of the means below:
Facebook page: https://www.facebook.com/XcreditNG/
Email: [email protected]
Xcredit office Address in Lagos
As it has been stated in the earlier part of this guide that the x credit loan app is headquartered in Lagos, below is the xcredit logos office address:
Address: 2ND FLOOR WING A, SOUTH ATLANTIC PETROLEUM
(SAPETRO) TOWERS 1, ADEOLA ODEKU STREET, VICTORIA ISLAND LAGOS.(Lagos, LAGOS).
Permission – Xcredit Access Area On Your Phone
When you open the xcredit loan app for the first time, some permission will be requested from your phone and you must grant them, failure to grant this permission, you won’t be able to have access to the app.
In this section, I am going to reveal all the information that will be collected from your phone by credit and brief details of what they intend to do with each details.
Xcredit loan app will collect all your SMS data but promised to only monitor your messages related to financial transactions(this is among the steps in credit limit evaluation).
To be specific, the app will monitor the name of the sender, the description and the amount of transaction to perform credit risk assessment. This enables faster and quicker loan disbursal. No personal SMS data is monitored, read, stored or shared.
X credit loan app will collect all your phone book contacts when you give xcredit app address book permissions, including your phone contact name, phone number, contact addition date.
The purpose of the collection is said be for the establishment of your credit files by analyzing phonebook and to increase the way to contact you as an applicant. In addition, this allows you to select your references in your loan application and the information will be used for anti fraud services. All contact list will not be monitored, stored or shared with any third party as promised by the app.
Once you grant the app, the access your phone location, the location will be collected and monitor information about the location of your device for customer risk assessment and scoring.
The app will collect and monitor specific information about your device including your device name, model, region and language settings, device identification code, device hardware and software information, status, usage habits, unique device identifiers like IMEI and serial number to uniquely identify the device and ensure that unauthorized devices are not to act on your behalf to prevent frauds.
Regarding all the collected information, the app will store it on the XCREDIT server with high level protection as and will not be shared with any third party as promised by them.
How xcredit use your data
The app will collect certain data to be able to provide loan Service to you. It also collect data for use in verifying your identity and creating credit scoring models to determine what Loans can be offered to you and also use this data for purposes of collections and credit reporting.
The data collected by x credit
When you register for the Service, they will collect your bank number and telephone number and may also collect your name, age, email address or other contact information.
With this information, the app Review team will cross-check your identity with third parties including the person you have provided as your emergency contact. They will also collect data from your device for their credit scoring system.
This includes information relating to your device, such as device maker and model, operating system, installed software applications, and the unique user identifier. Xcredit also collect your email and phone-book contacts and information related to device activity such as SMS logs and GPS location information.
To supplement this information, x credit will also collect data from third parties such as credit bureaus and other financial institutions. By registering for the Service, you authorize the collection and processing of the foregoing data.
After you has authorized the call logs authority to x credit, they will make a call to you through voice call. The reason for collecting the call record is to be able to confirm that you are using your own mobile phone to install their application and receive their dynamic password verification on the same machine.
Specifically, they will verify your device by dialing the phone, Check your call log to see if you have received a call. This makes your credit more reliable and get faster loan service. They promised not to monitor, read, store or share any private call data.
This is a complete guide on xcredit loan app download and with the detailed information provided in this guide, you should have fully understand Everything about the app, how it works and how to use the services provided by the app.