Is Lcredit loan legit? [The Unbiased Truth]

Is Lcredit loan legit

Is the Lcredit loan legit? In this article, we will find out. Lcredit is another Online Loan App about which I’d like to write a review.

Lcredit is a loan app found on the Google Play store and has been around for a long time. According to Playstore statistics, thousands of people have downloaded the loan app. 

But the question is, how trustworthy is Lcredit? Keep reading to get answers.


Lcredit overview

Lcredit is a Fintech app that offers Nigerians quick loans ranging from N5,000 to N50,000 with no collateral.

The app collects and analyses your data, including your credit score, SMS alerts, contacts, and other banking information, to disburse your cash loan in less than 10 minutes.

It has a maximum monthly interest rate of 10%. There is no need for any collateral because everything is done online. The registration process is straightforward.

Who is the Founder of Lcredit loan?

Cashigo International Limited is the founder of LCredit. There isn’t any online information about Cashigo owners. We couldn’t find their website to get information about them.

What is happening to Lcredit loan?

LCredit was removed from Google Playstore after a damning report on the repeated violations and numerous infractions.

Play Protect, the Playstore security system that checks apps hosted on Google for malware and other malicious viruses and fraudulent apps, removed LCredit. 

The internet behemoth had forewarned users against using the LCredit app because it attempted to spy on their devices’ banking information, contacts, recordings, photos, and other sensitive data. This contradicts the Google Privacy policy.

According to how it has been operating, LCredit is one of the worst lending platforms ever in Nigeria. Nothing could be more immoral and impolite than the repeated violations of privacy and other rights that LCredit has subjected its various clients to.

Here are some of Google’s protect rules it violated:

“We only allow personal loan apps with full repayment required in greater than or equal to 60 days from the date the loan is issued,” reads one of Google’s policies for loans offered through its Play Store. Apps that don’t comply with this requirement will be removed immediately.

According to another Google policy, any app that offers personal loans with an Annual Percentage Rate (APR) of 36% or higher is no longer expected to be available on the Play Store. Lenders must change their products and business models to comply with Google’s requirements to keep their apps in the Play Store.

However, LCredit offers loans with terms ranging from 7 to 30 days at astronomically high-interest rates and higher APRs than those set by Google. The network needs to uphold its rules and direct this Lcredit to leave.

LCredit Loan Reviews

Read some of the reviews from their users.

Stay Away From Lcredit; They Are Worst Than Sokoloan by Gbagura

It’s for your good. If you default, they will rain insults on your contacts. They act like loan sharks. This loan app won’t listen to your explanation when you’re trying to credit them before the deadline. Their interest is ridiculous, with their daily default charges. If you doubt, you can try them out.

I’ve warned you too. Stay away from them.


They start by messaging all your contacts, especially your friends. They tell them you’re a thief. Can you imagine? Their interest is even ridiculously high.


Yes, you’re right. This Lcredit keeps deducting money from people’s accounts. Check Twitter and play store to see people’s comments. They remove your money twice, even after you must pay. I won’t use the account I linked with them again.


This is the worst online loan application I have ever come across.

Please don’t borrow from these people if you like yourself and if you so much cherish your reputation. Borrowing from these people will put your reputation on the line.

These people will insult you by sending messages to your contacts on the first day of your overdue without even considering what caused the problem, which might be from their end. I, at this moment, pass a vote of NO CONFIDENCE ON THIS USELESS BORROWING PLATFORM.


For the past three weeks, they have been bombarding me with messages telling me that a particular individual collected a loan from them and did not pay; therefore, I should inform him that they will block his accounts and that it may also affect me because I am his guarantor which I never was.

I know most of those calls are designed to make me put pressure on their debtors,r but why should they involve me in a transaction that I am not a party to?

Final thoughts on “Is Lcredit loan legit?”

With the above reviews on LCredit, it’s safe to say that LCredit isn’t legit.

When clients don’t pay back loans on time, the lender threatens them. It has a high-interest rate and a short repayment period starting at seven days. Even after repayment, the dashboard takes some time to clear.

You should also be aware that neither the CBN nor any other Nigerian government organisation has registered or regulated these loan apps. 

There is no way to get revenge for lousy customer service, and you are responsible for the security of your transactions with them.

If you want to explore other credible online loan apps in Nigeria, you can check out our guide on Kuda Bank, PalmPay and Branch.

This brings us to the end of this article. If you have any questions, kindly drop them in the comment section.

Oghenemaga Emmanuel

Oghenemaga Emmanuel is a certified content marketing specialist, SEO strategist, social media expert, and digital marketing manager for B2B and B2C businesses.

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