Is Xact Loan the right fit for you?
Last Updated: 04/18/2025
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Highlights
APR (Variable APR)
N/A
Amount Range
$1,000 - $5,000
Loan Term (Months)
Up to 18
Xact Loan Review
Xact Loan is offered by Xact, a direct lender founded in 1993 and based in Cincinnati, OH. Xact Loan are available in 25 states.
Key Takeaways
- Uses a variable APR. This is uncommon for personal loans. If interest rates rise in the future it could make the monthly payments more challenging.
- Fast access to funds. If approved, Xact will send the money in as little as 24 hours.
- No origination fee. Xact Loan does not charge a loan origination fee.
Xact Loan Pros & Cons
| Pros | Cons |
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Xact Loan FAQ
What interest rates and personal loan terms does Xact Loan offer?
Xact Loan has lower than average interest rates for lenders reviewed on SuperMoney.
What interest rates does Xact Loan offer?
Xact Loan offers a variable APR personal loan product but they do not disclose their interest rates.
How much can you borrow via Xact Loan?
Personal loan amounts start at $1,000 and go up to $5,000
What is the maximum loan term you can get with Xact Loan?
Xact Loan offers loans with terms of up to 18 months.
| Personal Loan Amount | $1000 - $5000 |
| Loan Term | up to 18 months |
| APR | N/A |
What fees does Xact Loan charge?
Does Xact Loan charge an origination fee?
Xact Loan does not charge a personal loan origination fee.
A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, consider lenders that don’t charge origination fees.
Does Xact Loan charge a late fee?
Xact Loan does not disclose whether it charges late payment fees.
Does Xact Loan charge prepayment fees?
No, Xact Loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
| Origination Fee | up to 0% |
| Prepayment Fee | No |
| Late Payment Fee | No |
What do you need to qualify for Xact Loan?
Applicants with a credit score as high as 850 are eligible, but Xact Loan does not require a minimum credit score. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Xact Loan does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Xact Loan.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid personal checking or savings account
- Recent pay stubs
- Proof of income
- Bank account information
- Driver's license or other government photo ID
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Application Types Accepted |
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| Credit Score | up to 850 |
What is the estimated funding time for a personal loan via Xact Loan?
Xact Loan will typically fund loans starting at 1 business day of approval and clearing necessary verifications.
Does Xact Loan report your account activity to credit bureaus?
Yes, Xact Loan reports to the following credit bureaus:
- Equifax
- Experian
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Xact perform a hard credit pull?
Yes, Xact Loan performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Are Xact Loan legit?
Xact was founded in 1993, it is a well-established company that has been in business for 33 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
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Learn MoreSuperMoney Net Recommendation Score
Not enough SuperMoney users have reviewed this product to provide a recommendation score or rating.
-100
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No one recommends
Everyone recommends
Xact Loan Community Reviews
Would you recommend Xact Loan to your friends?
Edward G.
Nov 21, 2024
May or may not recommend
first hand experience, they approved me but cant verify my bank through their page which ended up being denied. 3 application attempts and no solution on their part
Pandora S.
Feb 2, 2024
May or may not recommend
I wish I could give them no stars. Their customer service is HORRIBLE!!!!.I was told I could refinance on a certain date and went online and it would not allow me to. When I called they kept switching me around to different departments and the XACT customer service Rep was SO UNWILLING to help me or explain why I was told that. The Call Rep just kept repeating the same ...Show More
Showing 2 of 2 reviews
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