How Does It Work?
About Us
XLCreditsolutions is a financial institution based in Accra, Ghana and licensed by Bank of Ghana. XLCREDITSOLUTIONS provides fast and easy short and long-term loans, called XLCREDITSOLUTIONS loan.
Our customers can apply for a XLCREDITSOLUTIONS directly from their own mobile device or in XLCREDITSOLUTIONS’s branch.
The loan is available to salaried, contracted and self-employed professionals. Just a one-time verification of ID, email and mobile money account is necessary before disbursement of the money.
Frequently Asked Questions
Is XLCREDITSOLUTIONS authorized to provide loans in Ghana?
Yes. XLCREDITSOLUTIONS is licensed by the Bank of Ghana to provide loans.
What are the fees to use XLCreditsolutions?
There are NO UPFRONT FEES for using the XLCREDITSOLUTIONS mobile app or applying for a XLCREDITSOLUTIONS Loan. We charge a processing fee which will be disclosed to the customer prior to accepting a loan, and are paid only after you get your money, when your loan is due for repayment.
What can I use the XLCREDITSOLUTIONS Loan for?
Customers can use the proceeds for any purpose, except for illegal activity.
What are the eligibility requirements?
To qualify for a XLCREDITSOLUTIONS Loan, you need a valid ID and Mobile Money or Bank Account.
- ID Type: Driver’s License, NHIA Membership, Voter ID, National ID or Passport
- Mobile Money account: MTN Mobile Money, Tigo Cash & Airtel Money registered in your name for at least two months.
- Bank account: Original bank statement for a valid deposit account with a commercial bank in Ghana.
You must be a resident in Ghana over 18 years of age.
How much is the interest rate?
The interest rates for new customers start at 5% for 30 days, the interest amount is displayed in the app before applying. Returning customers having a good history of paying your loans with XLCreditsolutions on time get better interest rate on future loans.
How long does it take to approve my request?
Within one minute after submission, a credit decision will be shown on the screen.
XLCREDITSOLUTIONS app evaluates each loan application and reserve the right to reject some applications. The decision cannot be reversed and we can only recommend you to apply again after 2 weeks.
My request was approved. What do I have to do next?
Please read carefully the instructions displayed in the app when the loan has been approved. The instructions will either inform you to approve the loan agreement within the app to complete the process, or visit a branch for processing. Please see the Contact section for opening hours and directions to our branch.
Where and when will my XLCREDITSOLUTIONS Loan be paid?
After fully completing the process, the loan is paid out instantly for MTN /Tigo Cash and 1 business day for all other methods. We will notify you by SMS of the transfer.
How will I repay the XLCREDITSOLUTIONS Loan?
When the loan becomes due, you will have to transfer the money from your wallet to our MTN Mobile money Account or transfer to our Bank account. To pay with cash, you can visit any Fidelity or Ecobank branch and deposit to XLCREDITSOLUTIONS’s account. Remember to always use your Client ID for payment.
What will happen if I can't repay the XLCREDITSOLUTIONS Loan on-time?
Please contact us with any issues related to the repayment of your XLCREDITSOLUTIONS Loan. Customers will be charged additional penalties for late repayments. XLCreditsolutions reserves the right to take any legal action to recover outstanding debts and report delinquent borrowers to the appropriate agencies and/or authorities.
What is the min/max loan amount?
First time borrowers are eligible for a maximum of 200 GHC to be paid within 10 to 33 days. The loan term must be selected in the app when applying.
Paying your loan on time can get you a higher amount and reduced interest as you climb the ladder up to a maximum of 1000 GHS.