Xcross Cash Loan: Are you looking for a loan without documentation in Nigeria? Do you need quick cash to fund your business, pay for unexpected bills, or handle emergencies? If so, Xcross Cash may be the lender for you.
This article is all about an honest Xcross Cash loan app review. Here, we’ll take a closer look at the company’s loan offerings, requirements, the application process, interest rates, fees, customer service, and more.
So, if you want to know all that, join me and let’s explore this post together!
About Xcross Cash Loan
XcrossCash is one of the new loan apps in Nigeria that provides credit to individuals and small businesses. Loans are offered via the company’s website, and/or app which can only be downloaded on Play Store.
Xcross Cash offers just one loan type which is personal loans. The personal loan amount ranges up to ₦100,000, and no collateral or a guarantor is required.
XcrossCash loans come with flexible repayment terms, and their loan application process is straightforward.
However, before going into details about the loan application, let’s see the full breakdown of Xcross Cash loan app features.
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Features and Benefits of Xcross Cash Loans
Xcross Cash loans come with several features and benefits, including:
- No collateral required: Xcross Cash personal loans are unsecured, which means you don’t need to provide collateral to get a loan.
- Quick approval and disbursement: Xcross Cash loans are approved within 24 hours, and the funds are disbursed within minutes after approval.
- Multiple loan types: Whether to start up or grow your business, or even for personal use, there are available loans for everyone on Xcross Cash
- Flexible repayment options: Xcross Cash loans come with flexible repayment options that allow you to choose a repayment plan that suits your budget.
- Competitive interest rates: Xcross Cash offers competitive interest rates compared to other lenders in Nigeria.
Xcross Cash Loan Requirements
To be eligible for an XcrossCash loan, you must meet the following requirements:
- You must be at least 18 years old.
- You must have a verifiable source of income.
- A Bank Verification Number (BVN) is required.
- Have savings or a current bank account with any commercial bank.
- The phone number through which you will receive a confirmation SMS
Now that you’ve known the Xcross Cash loan requirements, and how to be eligible for Xcross Cash loans, let’s see how to apply for a loan on Xcross Cash app.
How to Borrow Money from Xcross Cash
If you’re seeking how to apply for Xcross Cash loan, or how to get a loan on Xcross Cash app, this section is for you.
The XcrossCash loan application process is pretty straightforward and can be completed online via Xcross Cash’s website, or mobile app. This takes just a few simple steps, and they are as follows:
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1. Visit Xcross Cash’s website or Download the App
The first step in applying for a loan on Xcross Cash is to Visit Xcross Cash’s website at XcrossCash.com. You’ll be directed to the Xcross Cash sign-up page.
If you prefer using the mobile app, just visit your app store and download the Xcross Cash loan app.
2. Register an Account
Now on the Xcross Cash sign-up page, enter your Bank Verification Number (BVN). After that, enter your email address or phone number, and also all the required details to own an account with them.
Once your account is successfully created, click on the “Apply for Loan” button, and you’ll be directed to the Xcross Cash loan application form page.
3. Select Your Loan Amount
On the loan application page, select your loan amount using the sliders provided. You’ll see the interest rate and the total amount you’ll pay back displayed on the page.
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4. Fill Out the Application Form
Next is to fill out the Xcross Cash application form with your personal and financial information. This includes your Bank Account Number, email address/phone number, home address, date of birth, employment status, and income among others.
5. Set up your Repayment Plan
After filling out your loan application form, the next step is to set up your repayment plan. Unlike other loan apps, Xcross Cash allows borrowers to set up their preferred repayment plan which ranges up to 6 months.
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6. Submit Your Application
Once you’ve set when you can repay, the last step in applying for Xcross Cash loan is to submit your application and, then wait for the team to get back to you.
All you need to do is to review your application details to ensure they’re correct and accurate, and then submit your application.
After submitting your application, Xcross Cash will review your application and notify you of the outcome within a few minutes, latest an hour. If your loan is approved, the funds will be disbursed to your bank account within minutes.
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Xcross Cash Loan Interest Rates and Fees
Xcross Cash’s interest rates vary depending on the loan type and amount. The interest rates range from 4% to 24% per month, and APR of 48%.
To illustrate the interest rate of an Xcross Cash loan, let’s say you borrow ₦5,000 from Xcross Cash at an interest rate of 24% per month. If you choose a repayment period of 2 months, your monthly payment will be ₦3,700, and you’ll pay a total of ₦7,400 over the loan period.
In terms of fees, Xcross Cash charges no hidden fee for the loan application, processing, or disbursal. However, it’s worth noting that Xcross Cash may charge a penalty fee on any outstanding loan balance beyond the due date.
Therefore, it’s essential to pay your loan on time to avoid accruing additional fees.
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Xcross Cash Customer Service and Support
Xcross Cash has a robust customer service and support system that you can access through various channels, including phone, email, and phone numbers.
In our experience, Xcross Cash’s customer service is responsive, helpful, and friendly. However, their website is poorly built, and just little to no information about their loan offerings can be found there.
Pros and Cons of Xcross Cash Loans
Like any lender, Xcross Cash loan app has its pros and cons. Here are some of the advantages and disadvantages of taking loans from Xcross Cash:
Pros:
- Quick approval and disbursement: Xcross Cash loans are approved and disbursed within minutes, making them ideal for emergencies.
- No collateral required: Xcross Cash loans are unsecured, so you don’t need to provide collateral to get a loan.
- Flexible repayment options: Xcross Cash loans come with flexible repayment options that allow you to choose a repayment plan that suits your budget.
Cons:
- High interest rates: Xcross Cash offers high-interest rates compared to other lenders in Nigeria.
- Poor Website: XcrossCash’s website is poorly built, and all you can do there is download their app. That simply means no contact info/page, no about us page, and other vital information a loan app should have on its website.
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Xcross Cash Loan App – FAQs
Is Xcross Cash legit?
Yes, Xcross Cash is a legitimate loan app in Nigeria, as it has over a million download with above average rating on Google Playstore.
How do I get a loan from Xcross Cash?
To get a loan from Xcross Cash, download their app, sign up an account, select the loan amount and repayment period, fill out the application form, upload the required documents, and submit your application. If your loan is approved, the funds will be disbursed to your bank account within a few minutes.
Do I need a BVN to get a loan from Xcross Cash?
Yes, you need a BVN (Bank Verification Number) to get a loan from Xcross Cash. Your BVN is used to verify your identity and ensure that you’re creditworthy.
How to borrow money from Xcross Cash?
To borrow money from Xcross Cash, visit their website or download the app, register an account, select the loan amount and repayment period, fill out the application form, upload the required documents, and submit your application. If your loan is approved, the funds will be disbursed to your bank account within minutes.
Conclusion
Overall, Xcross Cash is a reliable loan app for individuals looking for quick and easy access to cash. The company offers quick loans without collateral, quick approval and disbursement, and flexible repayment options.
However, Xcross Cash’s loan late payment fees can be costly, so it’s essential to pay your loan on time.
If you’re looking for a reputable lender in Nigeria with flexible repayment options, Xcross Cash loan app is an excellent choice.
Good evening. This is the third time I’m going to be commenting here. I have called all the phone numbers provided for your customer care but there wasn’t response. The WhatsApp number provided by the app can’t be found in the WhatsApp platform. I didn’t register or borrow money or collected any loan from Xcrosscash. Xcrosscash has illegaly deducted my money 3 times. I provided evidence to that effect before and I’m going to present it here again. You stole almost N10,000 from my account. I want you to compensate me with just N1 million for the pain, psychological trauma and suffering that you have caused me and my family due to your actions to avoid litigation. Truly you have to take my words very seriously.
Hey patrick, we are really sorry for any inconveniency Xcross Cash loan may have caused you. However, we are not Xcross Cash, and we are not by anyway associated with them. We’d suggest you try sending them a mail. Thanks!
Someone used my bank details to acquire loan from xcross cash and you are taking the money from my account. This has been going for sometime. Recently I had verbal confrontation with your staffs and this resulted in your deducting more than the amount you said I’m owning. You deducted over 200,000 as against 33,000 or there about you said I’m owning. Please do refund me the excess money you took from my account.
I didn’t loan money from acrosscash but the just deducted money from my account,
I need a refund of that money,
I have a prove to what am saying now
I didn’t loan money from xcrosscash but the deducted money from my account,I need a refund of that money,I have a prove to what am saying now.
Xcrosscash should be thoroughly investigated.Why deducting people’s money without accessing your loan.It is a bad development for this country.There is a leak somewhere.A serious conspiracy.