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.
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 principle.
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 Apply for an XtraCash Loan Procedure
On the Xtracash portal, interested applicants can swiftly finish the loan application process in three steps:
Visit the Quickteller login page and enter your login credentials;
Click “Loan” on the dashboard to see the loan section.
Next, click “Loan Request”;
Select XtraCash from the drop-down menu and enter the loan amount you wish to borrow;
Proceed by selecting the bank account where the funds will be put;
Enter your password to verify the transaction.
Once the transaction is complete, you will be credited within minutes, depending on the network availability of the bank you gave. You will also receive a message confirming the approval of your XtraCash loan application.
Let’s see 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)
What’s the maximum I can borrow?
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’s too costly to use. There 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 lower interest rate.
How do I repay?
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.
Repayment 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.
