Xcrosscash is a loan app that offers credit for people in Nigeria who need quick access to money. It works by allowing users to activate a credit limit, borrow cash, and repay over time. The app claims to offer flexible loan options, chances to increase your limit, and rewards for good repayment behavior. But how true are these promises? This review breaks down the key points.
Loan Features and Costs
Xcrosscash offers loans ranging from ₦10,000 to ₦50,000. The repayment period can be between 91 and 180 days. Interest rates start at 4% and go up to 4.7% per month. That means the annual percentage rate (APR) can range from 24% to 56%. These rates are fairly high but not unusual for mobile loan apps in Nigeria.
The example on their app is a bit confusing. It says if you borrow ₦10,000 for 180 days, with a 4% monthly interest rate, the total repayment will be ₦12,400. That means you pay ₦2,400 in interest over six months. But the example is not very clear, and it looks like a typing error in the format (it says ₦24,00 instead of ₦2,400, and NGN124,00 instead of ₦12,400). This could confuse users and makes the information look less professional.
Who Can Apply for XCrosscash Loan?
Anyone in Nigeria, both salaried and non salaried persons can apply for XCrosscash Loan. You must be
- A Nigerian resident
- Between 20 and 55 years old
- Have a valid national ID card or voters card
- Bvn
- A working bank account number
Getting Started
The application process is simple and takes only a few steps. You:
- Download XCrosscash app from Google play store
- Register on the app
- Activate your credit limit
- Withdraw cash to your bank account
Once your credit is active, you can use it anytime. The app is available 24/7, so you can get money even at night or on weekends. This is helpful for emergencies.
Raising Your Credit Limit
Xcrosscash gives users a chance to increase their credit limit. According to the app, you can level up your limit by keeping a good repayment record or completing in-app activities. The company claims that if you repay on time, you might enjoy:
- Higher loan amounts
- Lower interest rates
- More flexible repayment terms
They also say that good behavior can lead to “free interest” loans, though they don’t explain exactly how this works or how many times you need to repay before getting the benefit.
XCrosscash Customer care
Xcrosscash says they offer customer support 24/7. You can contact them by email at xcross.tyz@gmail.com. Their office is located at 50c Sauket Street, Ikeja GRA, Lagos. While 24-hour service sounds helpful, many users online say that support responses are often slow or unhelpful. There is no phone number listed, which makes it hard to speak to a human agent when needed.
Pros of Xcrosscash
- Fast application process
- 24/7 access to cash
- No need for collateral
- Suitable for both salary earners and self-employed users
- Rewards for good repayment
Problems and Red Flags
- No clear privacy policy or data protection information
- Confusing loan example with errors
- High interest rates for small loans
- No phone support or verified registration with Nigerian financial bodies
- No details about penalties for late payments
Is Xcrosscash Legit?
Yes, it operates with CBN approval and is part of an established group.
But some users report it sometimes behaves like a loan shark—binding cards, unauthorized debits, changing terms, and aggressive tactics. If you choose to borrow, be very careful. Use small amounts, monitor your account, and take steps to prevent unwanted deductions.
Final Thoughts
Xcrosscash is one of many loan apps trying to provide quick loans to Nigerians. It promises fast cash, credit limit upgrades, and rewards for good behavior. The process is simple, and there’s no need for collateral. However, the app lacks clarity in some key areas. The example they gave contains errors. There is no public privacy policy, and users don’t know how their data is being handled.
If you choose to use Xcrosscash, start with a small loan. Repay on time and monitor how the app behaves. Do not allow access to sensitive data unless you’re confident in the app’s policies. And avoid borrowing if you are not sure you can repay. Loan apps should be a last option, not your main way of solving money problems.
