Xcross Cash Loan App Review 2023-2024: Requirements & Interest Rate

Xcross Cash Loan App Review 2023-2024: Requirements & Interest Rate

In search of a hassle-free loan in Nigeria? Need urgent funds to grow your business, deal with unplanned expenses, or manage emergencies? Well, Xcross Cash might just be your go-to lender.

Today, we’re diving deep into an unfiltered review of the Xcross Cash loan app. We’ll be examining everything from the types of loans they offer to their eligibility criteria, how to apply, interest rates, charges, and customer support.

We have discussed on the loan app like Carbon in our other post. But today, we only be focusing on the Xcross Cash loan app.

Ready to find out more? Stick around and let’s get into all the details of this loan service!

Xcross Cash Loan Review 2023-2024: Requirements & Interest Rate

Is Xcross Cash Loan Legit?

Absolutely, Xcross Cash is a legit loan app in Nigeria. With over a million downloads and a pretty decent rating on the Google Playstore, it’s clear that it’s well-regarded by its users.

Find out more below about why Xcross Cash loan is a legit platform that will give you a loan without documentation.

Features and Benefits of Xcross Cash Loans

Xcross Cash loans offer a variety of perks and advantages, such as:

  • No need for collateral: You can secure a personal loan from Xcross Cash without having to put up any assets as collateral.
  • Fast approval and cash delivery: Get your loan approved within a day, and expect the money in your account just minutes after approval.
  • Loans for every need: Whether you’re launching a new business, expanding an existing one, or just need some personal funds, Xcross Cash has got you covered.
  • Repayment plans that work for you: Choose a repayment schedule that fits your budget, thanks to Xcross Cash’s flexible options.
  • Great interest rates: When compared to other lenders in Nigeria, Xcross Cash offers really competitive interest rates.

Now that we have discussed about the benefits and features of this loan app. Let’s move on to the Xcross cash loan requirements below.

Xcross Cash Loan Requirements

To qualify for a loan from Xcross Cash, here are the criteria you need to meet:

  • You’ve got to be 18 years or older.
  • A steady income that can be verified is a must.
  • You’ll need a Bank Verification Number (BVN).
  • A savings or current account with any commercial bank is necessary.
  • A phone number where you’ll receive an approval SMS is also required.

Now that you’re clued in on what it takes to be eligible for an Xcross Cash loan, let’s delve into how to actually apply for one using their app.

How to Get a Loan from Xcross Cash

If you’re wondering how to secure a loan from Xcross Cash or navigate their app to get a loan, then you’re in the right place.

Applying for a loan through Xcross Cash is a breeze. You can do it online, either through their website or mobile app. Just follow these easy steps and you’ll be on your way:

  1. Head over to the Xcross Cash website or grab their app from the app store.
  2. Open Account
  3. Entre Your Loan Amount
  4. Complete the Application Form
  5. Set up your Repayment Plan
  6. Submit Your Application For Review

Head over to the Xcross Cash website or Download their app from the app store

The initial move to kickstart your loan application with Xcross Cash is to head over to their website at XcrossCash.com, which will take you straight to their sign-up page.

Alternatively, if you’re more comfortable using a mobile app, simply go to your app store and grab the Xcross Cash loan app from there.

Open an Account

The initial move to kickstart your loan application with Xcross Cash is to head over to their website at XcrossCash.com, which will take you straight to their sign-up page.

Alternatively, if you’re more comfortable using a mobile app, simply go to your app store and grab the Xcross Cash loan app from there.

Entre Your Loan Amount

On the loan application interface, use the sliders to pick how much you want to borrow. The interest rate and the full amount you’ll need to repay will be shown right there on the screen.

Complete the Application Form

Up next, you’ll need to complete the Xcross Cash application form, providing both your personal and financial details.

This will include things like your bank account number, email or phone number, where you live, your birth date, your job situation, and how much you make, among other things.

Set up your Repayment Plan

Once you’ve filled in your loan application, it’s time to arrange your repayment schedule.

What sets Xcross Cash apart from other loan apps is that they let you choose a repayment plan that suits you, with options extending up to 6 months.

Submit Your Application For Review

After sorting out your repayment plan, the final step to getting an Xcross Cash loan is hitting that submit button and then waiting for their team to reach out.

Just take a moment to double-check all the information in your application to make sure it’s spot-on, and then go ahead and submit it.

Once you’ve sent it in, Xcross Cash will quickly go over your application and get back to you, usually within a few minutes, but no more than an hour.

If you get the green light, expect to see the money in your bank account in no time.

Xcross Cash Loan Interest Rates

The interest rates at Xcross Cash can differ based on what kind of loan you’re taking out and how much you’re borrowing.

Rates can go from as low as 4% up to 24% each month, with an annual percentage rate (APR) of 48%.

To give you an idea of what the interest might look like, let’s say you borrow ₦5,000 from Xcross Cash with a 24% monthly interest rate.

If you opt for a 2-month repayment period, you’ll be making monthly payments of ₦3,700, totaling ₦7,400 over the course of the loan.

As for extra charges, Xcross Cash doesn’t hit you with hidden fees for application, processing, or getting the funds to you.

But it’s good to know that they could charge a penalty if you don’t pay back the loan by the due date.

So, it’s super important to make your payments on schedule to steer clear of any extra charges.

Xcross Cash Customer Service and Support

Xcross Cash offers solid customer support that you can reach through multiple avenues like phone calls and email.

From what we’ve seen, their customer service team is quick to respond, super helpful, and pretty friendly.

On the downside, their website could use some work. It’s not well-designed and offers minimal information about the loans they provide.

Now, we will be addressing the advantages and disadvantages of Xcross cash loan application below. Without any further ado, let’s get started!!!

See Loan in Minutes in Nigeria Without BVN

Advantages of Xcross Cash Loans

  • Fast approval and fund transfer: Xcross Cash is super quick when it comes to approving loans and sending the money, making it perfect for urgent situations.
  • No need for collateral: You don’t have to worry about putting up assets, as Xcross Cash offers unsecured loans.
  • Repayment plans that fit you: With Xcross Cash, you get the flexibility to choose a repayment schedule that’s easy on your wallet.

Disadvantages of Xcross Cash Loans

  • Steep interest rates: Compared to other lending options in Nigeria, Xcross Cash’s interest rates are on the higher side.
  • Lacking website: The Xcross Cash website leaves a lot to be desired. It basically only allows you to download their app, lacking essential pages like contact information, ‘About Us,’ and other crucial details you’d expect on a loan service website.
Is Xcross Cash Loan Legit?

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FAQs on Xcross Cash Loan App

Which loan app is Xcross cash?

Xcross Cash is a newcomer in the Nigerian loan app scene, offering credit to both individuals and small enterprises.

You can access their loans through their website or their mobile app, which is available exclusively on the Play Store.

They primarily offer personal loans, with loan amounts going up to ₦100,000. No need for collateral or a guarantor to secure a loan here.

Xcross Cash also shines in flexibility, providing repayment plans that you can tailor to your needs. Plus, their loan application procedure is as simple as it gets.

How Quick is the Loan Approval Process?

They’re super fast. Once you submit your application, you can get approved and have the funds sent to your account within minutes.

Do I Need Collateral to Secure a Loan?

No, Xcross Cash offers unsecured loans. That means you don’t need to provide any collateral to get your hands on some quick cash.

How Flexible Are the Repayment Plans?

Very! Xcross Cash allows you to choose a repayment plan that works best for your budget. You even have options that extend up to 6 months.

Are There Any Hidden Fees on Xcross Cash Loan app?

Good news, there are no hidden fees for application, processing, or disbursal. Just be aware that if you miss a payment, they might charge you a penalty.

How Reliable is Their Customer Service?

In our experience, they’re responsive and helpful. But it’s worth noting that their website could be improved, as it lacks some essential info.

Can I Trust Xcross Cash?

They have a good reputation with a large number of downloads and an above-average rating on the Play Store, making them a reliable choice for your loan needs.

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Wrapping Up Xcross Cash Loan Review

To sum it all up, Xcross Cash is a fairly new but promising loan app in Nigeria. They offer quick personal loans with amounts going up to ₦100,000.

The best part? No collateral or guarantor is needed. Their application process is simple, and you’ll usually get a response within minutes.

However, they do have some areas for improvement, like their higher-than-average interest rates and a website that could use some upgrading.

Still, if you’re in need of fast cash and flexible repayment terms, Xcross Cash is worth considering.

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