Xtracash is a money lending platform that offers convenient and instantaneous short-term loans to individuals.
The money lending company was founded by young minds whose goal is to enable financial inclusion through technology.
Quickteller, a subsidiary of Interswitch and a third-party financial technology-driven platform, provides access to Xtracash Loan. At the time of writing, the loan is only available to citizens of Nigeria, Ghana, and Zambia.
See also: Nirsal Loan – How To Check Nirsal Loan Approval/Status
About XtraCash
XtraCash provides individuals with a quick and fast alternative to obtain a cash advance. The loan can be used to pay bills, buy goods, make P2P transfers, purchase airtime, and withdraw cash from a mobile phone.
Xtracash loan requirements
To be eligible for an XTRACASH loan, you must possess the following requirements:
1. Be older than 18 years of age
2. Have a bank account number
4. Possess a perfect repayment record with XTRACASH.
5. Have no outstanding XTRACASH loans
Customers who already have an open loan may not be permitted to borrow again.
7. Customers must be informed that the loaned money will be automatically deducted from their bank account upon loan maturity.
Customers must also be informed that they can commence an early loan payback.
In the event of a partial payment, the service collects the charge before the principal.
After the due date, all unpaid debts are automatically extended for another month.
This condition must be communicated to customers when the loan is confirmed and in a reminder SMS. This will also be mentioned in the service’s terms and conditions.
How To Get A Loan From Xtracash
Follow the steps mentioned below to get a loan from Xtracash:
1. Click here to visit the Quickteller log-in page
2. Enter your email address and password, then click login
3. Locate “Loan” on your dashboard and click on it
4. Now click “Request Loan”
5. You will see a list of loan offers, locate the ones name Xtracash and choose the particular loan amount you and the tenor you will be going for
6. After making your decision, click on your choice
7. Now select the account you want to be credited
8. Enter your password to authenticate the transaction
You have successfully applied for Xtracash loan, the loan amount will be in your bank account in less than 3 minutes.
how to create a Quickteller Account
How to quickly create a Quickteller account
1. visit the Quickteller registration page
2. Provide your first and last name, email address, and phone number.
3. Enter your most preferred password
4. Enter the email or phone number of the individual who referred you to Quickteller (this is optional)
5. Check your email address for a welcome message from Quickteller. In the email, you will find a 7-digit activation code, copy it and paste it on the Quickteller sign up the Web page
6. Next, click Continue to verify your phone number
7. Enter the OTP sent to your phone on the Quickteller sign-up web page
Congratulations, you have successfully created your Quickteller account.
How To Add A Debit Card To Your Quickteller Account:
Before you apply for a loan, you will be required to add a debit card
to your account, follow the steps mentioned below to do:
1. Locate “payment method” on your Quickteller dashboard and click on it
2. Click on “Cards”
3. Click “Add”
4. Enter your card details
5. Enter your card pin
6. Now click continue
What’s the maximum I can borrow from XtraCash?
The amount of the loan changes based on your DYA and airtime usage. During the loan application procedure, you will be informed of the loan amount for which you qualify. Each time you repay a loan on time, the loan amounts that are accessible to you will increase. This table summarises the loan amounts, fees, and payments.
Xtracash Interest rates
The Xtracash interest rate is affordable, unlike many other loan apps that are too costly to use. Their rates can be anywhere from 3% to 12% depending on how much you borrow and some other factors.
If you pay back on time you will have more money to borrow and a lower interest rate.
How to repay Xtracash loan?
Three (3) methods can be used to repay your Xtracash loan and they are:
1. Auto Debit
2. USSD code
3. Quickteller
Auto Debit:
On the agreed-upon due date, the loan amount will be automatically deducted from the Diamond Yellow Account. A second method At any time, the loan can be repaid in full by selecting “repay Loan” from the XTRACASH menu.
Customers must be informed that the lent money will be automatically deducted from the Diamond Yellow Account on the due date.
Customers must also be informed that they may commence an early loan payback.
In the event of a partial payment, the service first recovers the fee, then the balance.
Unpaid debts are automatically extended for another month following the due date. This condition must be communicated to customers when the loan is confirmed and in a reminder SMS. This will also be mentioned in the service’s terms and conditions.
How to repay Xtracash loan via USSD code
Xtracash will send you a text message a few days before your loan’s due date to remind you of the payback. In this message, you will also be given the option to pay before the due date; a USSD code will be provided.
The USSD code for Xtracash loan payback is *322*6#. You will be able to repay your debt by dialing this number.
Loan application and repayment information is available on the XtraCash website.
How to repay Xtracash loan via Quickteller
You can easily repay your Xtracash loan on Quickteller’s website by following the steps mentioned below:
1. Click here to visit the Quickteller log-in page
2. Enter your email address and password, then click login
3. Locate “Loan” on your dashboard and click on it
4. Your active loan will immediately display on your screen, click on it
5. Now click “Repay Loan”
6. Enter the card details of the account you want the money to be deducted from
7. Enter your card pin and click pay
8. Enter the 7 digits OTP sent to you via SMS and click pay. You should get a message that says you have successfully paid your loan.
