Skip to content

Xcredit: Requirement, Interest Rate, Get Up To N500,000, Apply Now

Xcredit: Considering the economic situation of Nigeria today, everyone needs to be financially independent both the young and old most especially the young.

Let’s take for instance if you are a businessman certainly, you need strong financial support to take your business to the next level, likewise, the employed men and women who also need side income that is to say the employed can also take part in this financial opportunity.

Considering all this, we have decided to bring to your doorstep this golden financial opportunity “Xcredit” where you can get a loan up to N500,000 without any collateral nor paperwork.

In this article, we will explain a particular loan provider called “Xcredit” and everything relating to Xcredit like how to apply, requirements, interest rate, eligibility, the repayment plan, and if Xcredit is legit or not.

Lets quickly look at what Xcredit is all about.


What is Xcredit?

Xcredit is an online loan provider in Nigeria that aims at helping Nigerians access loans up to N500,000 anytime and anywhere no matter the urgency.

The Credit loan application can be completed within a few minutes and the loan is directly deposited into your bank account.

Note that this loan is only available in Nigeria at the time of writing this article but we will keep you posted once they start spreading to other countries whether foreign or local countries and their head office is located in Lagos state Nigeria.

How does Xcredit make a lending decision?

How do they decide on who to give loan and who not to give

Xcredit makes use of data from your phone, which includes your mobile phone details and financial transaction SMS messages to make lending decisions.

They combine this with your Xcredit repayment history to build an individualized credit score, which determines the loan offers you receive.

See also  UBA Affiliate Program: Tips On How You Can Earn N5,000 On Each Referral

Xcredit loan requirement

What is the requirement for getting a loan from Xcredit?
What we just asked above might be your question, if yes then continue  reading;

  • MTN AIRTEL GLO and 9mobile valid phone number.
  • Your BVN (Bank Verification Number).
  • Finally, answer some questions.

Note that Xcredit will also request access to your data in order to determine your loan amount and Xcredit loan eligibility.

How to apply for Xcredit loan

How can I apply for an Xcredit loan?

  • Go to your Google play store and search for Xcredit.
  • Download and install.
  • Finally, open the Xcredit application on your mobile device and fill in the necessary field.

How much can I borrow from Xcredit?

The amount you can borrow from this loan provider varies and this simply means that the amount you get as a loan will definitely differ from the amount I will get from Xcredit but their loan amount ranges from N5,000 to N500,000.

Note that the more you repay your loan on the agreed date the higher the amount you get.

Xcredit interest rate

Xcredit charges a 15% interest rate for a 14 days loan tenor and the interest rate is determined by some certain factors which include your repayment history.


Borrowers are required to cover any mobile money transaction fees, such as Bank charges, associated with repaying the loan. Standard SMS and data charges by your mobile carrier may apply.

Xcredit repayment

For a successful repayment follow the steps listed below;

  • Open Xcredit on your phone.
  • Click My Loan.
  • Choose one of your loans.
  • Click the Repay In Advance.
  • Confirm that all details are correct and press “Repay now”.
  • Choose your Repayment method and press “Repay now”.
  • Complete your Repayment.
See also  Quickcheck loan: Requirements, Interest rate, Contact Number, How To Apply

What will happen if I pay my loan late?

Late loan repayments automatically incur a fee of 2% each 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, we report to the First CentralCredit Bureau. Blacklisting by the First CentralCredit Bureau may affect your ability to borrow from other lenders.

Xcredit loan contact number and email address

You can reach out to them should in case you encounter any problem while applying for the loan or need to ask for assistance on 09059225555 or through email at

Why was my Xcredit loan application rejected?

If you don’t get accepted on your first application, don’t worry, Sometimes it may take several attempts to qualify for a loan. We advise you to continue saving data on your phone and to reapply after the period stipulated.

Reasons why people choose Xcredit

  • It’s very easy to apply.
  • Fast approval.
  • Once your loan gets approved it will be disbursed directly to your bank account within a few minutes.
  • They provide 24 hours support.

Why was I rejected for a loan?

If you don’t get accepted on your first application, don’t worry! Sometimes it may take several attempts to qualify for a loan. We advise you to continue saving data on your phone and to reapply after the period stipulated.

Can I make an early repayment on my Xcredit loan?

Yes, they do accept early repayment of the loan and it also helps in increasing your loan amount that is the amount of loan Xcredit can offer.

See also  JcPenney login; How to get started with the jcpenny login

Xcredit loan alternative

There are many other good alternatives to Xcredit loan which also offer more than what Xcredit does, these alternatives are as followed;


Carbon Paylater: With Carbon Paylater loan you can access up to N1million naira as an employed or self-employed individual and also Carbon Paylater offers a N10million naira loan for SME businesses and this SME loan is strictly for residents of Lagos state.

Zedvance loan: This is another loan provider in Nigeria strictly designed for salary earners both in the public and private sectors. With the Zedvance loan, you can access up to N5million naira loan with a reasonable repayment plan.

Renmoney: Renmoney is a microfinance bank in Nigeria bent on providing financial support to Nigerian’s giving them access to get up to N4million naira mostly on their first application.

FairMoney: FairMoney is another loan provider in Nigeria designed both for the employed and self-employed. With Fairmoney loan services you can get up to N150,000 and it does come with a pretty repayment plan.

Wrap Up

If you are employed or unemployed a needs urgent financial support either to boost your business or for any personal need, think of accessing a loan from this loan provider.

We advise you borrow the amount you can pay back as at when due to avoid incurring serious penalty like being reported to the Credit Bureau which can lead to losing you job (for those who are employed) and for those who are not employed, it can limit you from access loans from other loan providers in the country in the further.

Leave a Reply

Your email address will not be published. Required fields are marked *