Xcrosscash Loan App Review: Legit or Scam

Xcrosscash loan app has increasingly become more popular in the finance community especially in the aspect of disbursing loans. You probably even clicked on this article because you want to review this website before taking a loan. In this review article, we shall be revealing the in and out of xcrosscash loan app, the maximum amount of loan you can receive, their interest rate and Most importantly if they are legit or a scam?

With the number of lending institutions and loan apps in Nigeria increasing everyday, it is necessary for one to do a little research before applying for loans, especially via loan apps. One of the numerous reasons to carry out a mini research on loan apps and institutions before applying for loans with them is to ensure that these apps are authentic and true to their claims; these in the long run will help you decide whether to do business with them or not. 

In this article, we will be reviewing the xcrosscash loan app.

What is Xcrosscash Loan App?

Xcrosscash loan app is another cool loan app that is currently making waves in the Nigerian fin-tech industry. The loan app has over a million plus downloads on the Google play store with several positive reviews. 

Xcrosscash is registered under Newedge Microfinance Bank (the same organisation that has palm credit). The loan app offers personal or rather micro loans with low interest rates and very flexible repayment plans and options. 

It is an easy to use app and has been in existence for quite some time. 

How Does Xcrosscash App Work?

Xcrosscash loan app provides instant loans to customers without collateral or paperwork. Like every other loan apps, xcrosscash loan app grants loans with stress-free procedures which are majorly carried out via the internet. 

Xcrosscash can offer loans as high as N100,000 depending on what your loan limit is. Usually first time users are more often than not only allowed to apply for small loans. Your loan limit increases if you keep a good credit score by repaying your loans on time. 

Failure to repay a loan after the due date will attract late payment fees on the xcrosscash loan app, this works in such a way that a certain amount will be added to your principal debt everyday until the day you pay off your loan. Late payment on the loan app can mess up your credit score and make you unqualified to apply for future loans on the platform.

Is Xcrosscash Loan App Legit? 

Yes, xcrosscash loan app is legit and not a scam. The loan app gives instant loans to eligible customers following successful applications. The loan app is fast, efficient and easy to use. 

How to Download and Get Started on  Xcrosscash Loan App

To be able to apply for a loan on the xcrosscash loan app, you would have to have the app installed on your phone. For android devices, you can easily find the app on the Google play store. 

Here is a detailed guide on how to download the xcrosscash loan app on your mobile phone:

How to Download Xcrosscash Loan App

To download the xcrosscash loan app, follow these steps:

1. Go to the Google play store

2. Search for “xcrosscash loan app” 

3. Locate the app when your search results are displayed and click on ‘install’ . 

How to Get Started on the Xcrosscash Loan App

So you have downloaded xcrosscash loan app from your Google play store and the next thing on your mind is  the question ‘how do I get started’. After installing the xcrosscash loan app, the next step that gets you closer to getting a loan is registration . 

To register on the xcrosscash loan app, here is what to do: 

1. Open the xcrosscash loan app on your phone

2. Grant the app permissions to some of your phone’s features then read and accept terms and conditions

3. Input your phone number on the next page and submit.

4. An OTP that is valid through a maximum of 10 mins will be sent to your phone, enter the OTP on the requested page and submit

5. Enter your BVN details for verification purposes; submit.

6. Take a selfie, your selfie has to be in a well lit up surrounding so that your face can be visible.

7. Enter your work information (information about your employment status and your salary range) .

8. Enter your personal information on the next page (your house address and other relevant information).

9. Provide guarantors who can be contacted in any case you decide to default on your loan agreement. 

10. Wait for your loan limit to be calculated. 

How To Borrow Loan On Xcrosscash 

Once you have signed up on the app and your credit limit has been calculated, the next thing is to get the loan. 

To apply for a loan on xcrosscash loan app, all you need to do is: 

1. Click on the  “get now”  button on the home page,

2. Choose the amount you are applying for and your repayment plan 

 3. Choose where you want to receive the loan, more often than not, except you choose otherwise, the loans are usually disbursed to the bank details you entered while you were signing up.

How To Repay Your Loan On Xcrosscash

Xcrosscash has different loan repayment methods so you can always pick the one that is most suitable for you. 

The different loan repayment methods available on xcrosscash are; 

1. The automatic deduction method

The partial deduction method of loan repayment on xcrosscash works in such a way that the equivalent of your loan is deducted directly from your bank account when due. Depending on your repayment plan, the deduction might come in full or half. 

2. The prepaid method

If you wish to repay your xcrosscash loan before the due date, then you might consider using the prepaid method. In the prepaid method, you are the one that will initiate the repayment on the app. 

Here is a step by step guide on how to repay your xcrosscash loan using the prepaid method; 

1. Login to your xcrosscash loan app

2. On the home page, click on “repayment”

3. Choose the loan you are making repayment for 

4. Enter your password.

3. Offline transfer method

This is the last loan repayment method on xcrosscash. If you wish to repay your loan through a mobile transfer using USSD code then you are aiming for the offline payment method. 

Pros Of Xcrosscash Loan App

The following are the pros of xcrosscash loan app; 

1. It is user friendly and requires zero to no assistant for first time users. 

2. Xcrosscash loan app is super fast. 

3. The loan app offers loans with no collateral, this means you do not have to bring your valuable before you’re granted a loan.

4. It requires no long and cumbersome paperworks.

5. Xcrosscash gives out instant loans. 

6. The repayment methods on the loan app are flexible. 

Cons Of Xcrosscash Loan App

1. Xcrosscash loan app does not have a functional website and considering the fact that it is a national  organisation, it is quite unprofessional.

2. Some customers have also complained of undue deductions from their bank account by xcrosscash; according to them, even after they have repaid their loans xcrosscash deducted the equivalent of the loan from their accounts again and never refunded it. This however is just a mere allegation and has not been neither debunked nor accepted by xcrosscash. 

Frequently Asked Q & A

Is xcrosscash loan app available on IOS devices? 

No! Xcrosscash loan app is only available for android devices. The app is however assuring that the loan app will be available for IOS devices and other gadgets in the nearest future. 

Can I get a loan on the xcrosscash loan app without a BVN? 

No! You must have and provide your BVN to be eligible for a loan on the xcrosscash loan app.

Who can borrow money on the xcrosscash loan app?

Anybody between the ages of 20-60 with a BVN can apply for a loan on the xcrosscash loan app. 

What happens if I don’t repay my xcrosscash loan on time? 

Failure to repay your xcrosscash loan on time, you will be charged late payment fees.

What happens if I don’t repay my xcrosscash loan? 

If you do not repay your loan on xcrosscash your account will be blacklisted, restricting you from borrowing future loans on the platform, additionally, your BVN will be reported to National Credit Bureau and you might be banned from borrowing money on other lending platforms. 

Can I borrow money on xcrosscash loan website? 

No! The only platform you can apply for xcrosscash loan is on the xcrosscash loan app. 

What is xcrosscash interest rate 

Xcrosscash interest rate is between 10% to 30% .

Does xcrosscash offer customer services?

Yes, xcrosscash loan app offers customer services. You can either call their customer care line or visit their office in Lagos or better yet send them an email. 

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Final Verdict

Xcrosscash loan app is another excellent loan app that delivers fast, easy and stress-free loan services to customers. The loan app has garnered over a million plus downloads on the Google play store and has constantly been delivering loans to its customers for quite some time now.

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About Stefan C.

Focused On bringing you the best educational and finance related topics that will impact your life and the lives of millions.
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