XtraCash
XtraCash offer you a convenient and instantaneous way to get a cash loan for MTN existing Diamond Yello subscribers. The loan can be used to pay bills, purchase goods, P2P transfers, buy airtime and cash out, from your mobile phone;To qualify for XTRACASH loan, you need to be an customer and meet the following criteria:
1. Be above the age of 18 years old
2. Be an existing Diamond Yello Account customer. To become one, you can Dial *701# to open an account now
3. To be a regular user of your wallet and Airtime account
4. Have no negative repayment history with XTRACASH
5. Have no outstanding loans with XTRACASH
6. Customer who have an existing open loan should not be able to borrow again
7. Customers must be advised that repayment of the loaned amount will be automatically recovered from the Diamond Yello Account on the loan maturity date.
8. Customers must also be advised that they can initiate an early repayment of the loans
9. In case of a partial payment, the service recovers the fee first then the principal
10. Any unpaid loans after the maturity date shall automatically be extended for another month.
Customers shall be informed of this condition when the loan is confirmed and in a reminder SMS. This will also be included in the T&C of the service
The charged fee is 15% on the 30 day loan. An example can be seen below:
The loan amount varies and depends on your DYA usage and airtime usage. The loan amount you qualify for will be disclosed during the loan application process. The loan amounts that are available to you will continue to increase as you pay back each loan on time, every time. The following table summarize the loan values, fees and repayments:
To apply, simply dial *606# from your handset and select the XtraCash option. Also you can access the service by dialing the short code *606*4#.
Repayment of the loan amount will be automatically recovered from the Diamond Yello Account on the agreed due date. A second approach The loan can be repaid in full at any time by selecting the ’repay loan’ option from the XTRACASH menu.
Customers must be advised that repayment of the loaned amount will be automatically recovered from the Diamond Yello Account on the loan maturity date.
Customers must also be advised that they can initiate an early repayment of the loans
In case of a partial payment, the service recovers the fee first then the principal
Any unpaid loans after the maturity date shall automatically be extended for another month. Customers shall be informed of this condition when the loan is confirmed and in a reminder SMS. This will also be included in the T&C of the service
To check balance, simply dial *606# from your handset and select the ’XtraCash balance’ option. You will also receive SMS reminders with the outstanding loan amount prior to settlement.
1. You need to pay your Loan within (30) calendar days. Failing to do so will result in compromising hour credit score.
2. If you missed repayment within the initial (30 calendar days of the disbursement of the loan, an extended period of thirty (30) calendar days will be given. During the rollover periods, an interest of 18.64% per month shall be applied to any outstanding amounts
3. In case the loan is not fully repaid after one hundred and eighty (180) calendar days of the date of disbursement of the Loan:
i. You accept that any debt may be recovered from other bank accounts, deposits or digital wallets held by you using your BVN
4. We reserve the right to vary the terms of the Loan including the Service Fees payable from time to time.
Customers are required to check the T&C before taking each loan