Oxloan Loan App Review: How to Get a Quick Loan

Mobile loan apps are gradually taking over the financial space. Why? Well, loans have become a necessary evil in the day-to-day activity of an average individual’s life. Individuals, businesses, and institutions need this service to sail the stormy economic realities and run smoothly. This explains why many platforms have arisen to meet this need. 

Accessing quick and reliable loans accounts for the move from traditional banks to mobile platforms to loan money. It appears that the underlying question in the mind of an average person is “How do I get a quick loan?”

How Does Oxloan Loan Work?

Oxloan is a finance app that allows users to apply for, receive, and pay for loans. It operates only in Nigeria and is very easy to use. This loan app offers as much as N200,000 naira for loans and allows users to choose the term for the loan including up to 6 months or 180 days. 

In addition, Oxloan operates 24/7 and approves transactions almost instantly. Basically, Oxloan has a user-friendly interface that allows for a smooth customer experience. However, its customer support system is unreliable and there is no easy method of uploading necessary documents during the registration process. 

How to Apply for Oxloan Loan

To apply for the loan on Oxloan all you need to do is;

  • Download the Oxloan app on Google Play Store 
  • Input your phone number attached to your BVN
  • A verification code will be sent to you.
  • After verification, go ahead and select an amount.
  • Submit your application for your loan.

Oxloan Eligibility and Requirements

To apply for loan on the Oxloan platform, you must;

  • Be 18 years and above.
  • Have a valid bank account 
  • Have a valid phone number.

With the above requirements in place, you can easily register and access loans on Oxloan.

Oxloan Interest and Payment Rate

The interest rate varies and depends on several factors such as; the amount you want to loan, your income, and your repayment history or relationship with Oxloan.

The interest can go as high as up to 50% depending on the amount you want to loan. 

Oxloan Payment Duration

Oxloan has several repayment durations, depending on your eligibility. For example, it varies from 7 days to 14 days or 21 days.

How to Repay Oxloan Loan

You can repay loans on Oxloan in two ways. First, you can repay the loan in-app, which is online, or secondly, offline by copying the account details and paying cash into it. Either way is acceptable.

Get Oxloan Loan App Today

You can easily get the Oxloan app for free. All you need is to register and apply for an amount. Depending on your loanworthiness, you will be credited and expected to repay before the due date.

In conclusion, you can get quick and reliable loans via the Oxloan app.

READ ALSO: Moniepoint Loan: How to Apply Without Collateral

FAQS About Oxloan Loan App Download

Is Oxloan Loan App Legit?

Yes, it is. Oxloan app is duly recognized by the Central Bank of Nigeria. In fact, it is one of the few digital lenders in operation with full approval from the Federal Competition & Consumer Protection Commission (FCCPC).

What Is the Oxloan Customer Care Number?

The Oxloan customer care number can be found on their site. Here it is: +2349073507290

Who Owns Oxloan?

Oxloan functions as a subsidiary of Singularity Technology Nigeria Limited. 

What Are the Consequences of Not Paying Your Oxloan on Time?

Default in repayment of the loan as at when due, you will incur an increase of overdue fee. That is, you will be mandated to pay extra for default.  

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