Hcwallet Loan app: Download, USSD Code, Contact Number

HCwallet loan application is an online loan service that provides Nigerians with personal loans up to N30,000.

It does not require any documentation.

The app was recently updated on Google Play Store. However, it has received over 100k downloads and mixed reviews on Google Play Store. The app’s easy and seamless registration process is appreciated by most customers. It uses a loan program to gather information about potential customers, including phone records, bank transaction alerts, BVN, and BVN in order to determine each borrower’s credit score.

You will be able to get higher amounts if you keep your bank transaction messages up and have no outstanding debts from other loan apps.

It’s easy to apply. Just download the app from Google Play Store, and provide some information about you. The algorithm will analyze your data, calculate your credit score, and offer you a loan. This happens in a matter of hours

HCwallet Loan

How to download APK and apply for a loan through HCwallet

Get the HCwallet Loan App exclusively on the Google Playstore.

Register with your phonenumber to create an account

For verification, it is preferable that you use the phone number associated to your BVN.

Please fill in your Kwow-your customer KYC information. This includes your residential address and next of kin details.

Your Biometric verification number BVN will also be requested.

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To bind your ATM card with your account, you will be charged N30. This will increase your chances of getting a loan amount that is higher.

To confirm your details, a one-time OTP password will be sent to you.

After you submit your loan application, the software will evaluate your credit score. The final result will appear in the APP.

You should see the result in less than 2 minutes. If you are eligible for a loan the amount will be transferred directly to your bank account.


You will need to take a clear selfie of your identity so make sure you have enough storage.

Your BVN is tied to your credit score. If you have an outstanding loan from another lender or have not paid other lenders on time, your application will be denied.

Credit scores are a record of all your borrowings and cash transactions.

To download the app, you must agree to allow it access to your phone contacts, SMS to view your banking transaction records, and apps on your smartphone to see how other loan apps are used.

Is HCwallet a legit loan app or a scam?

Yes, Hcwallet loan application is legitimate and offers loans to customers. Before the recent update, this app was known as Hcredit and HaloCredit. For policy violations, previous versions were likely to have been removed from the Play Store. Before you apply for an online loan, be cautious.

Before you apply for a loan in Nigeria, make sure to read reviews from other customers.

These loan applications are not licensed or regulated by any Nigerian government agency or the CBN. They are responsible for your transactions and you cannot seek redress for bad customer service.

Its availability on Google Play store does not guarantee that transactions made on it are secure. You are responsible for your security when using loan apps in Nigeria through the play store.

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How can Hcwallet’s loan app help?

Hcwallet charges high interest rates on short-term loans. First time borrowers typically get 6k to 10k in 7 days.

High rejection rates mean that most loan applications are rejected. Some are kept for several days.

Be aware of your repayment plan when taking out a loan. The app may attempt to auto-debit you on the due date for the first installment of a 60-day loan. It might also charge you overdue fees before the end 60 days.

To prevent automatic debit, you can change the password for your ATM card. The app is known to auto-debit customers after they make payments via bank transfer.

What is the interest rate on loans?

Fees and loan rates
Loan amounts: N 3,000-N 500,000
Service / Interest Fee: 2% – 35%
Maximum Annual Percentage Rate (APR), 66.21% – 2740.44%
Late fee: One-time fee of 8.8% of the outstanding amount
Minimum repayment period: 61 days
Maximum repayment period: 180 days

Here’s an example of interest calculation for a loan:

Principal: 100,000.00
Lender Interest: (APR: 30%)
Tenor: 4 Months

Annual Interest (: 100000 * 0.3) :30,000 Naira
Total Interest for 4 Months: 100000 *0.3 *4/12:10,000 Naira
Monthly Interest: 2,500 Naira
Monthly Repayment (principal and interest): 27,500 Naira
Total Repayment :110,000 Naira

As an example, the interest rate and tenure are lower if you borrow for the first time. By keeping good records and repaying the loan on time, you can increase your amount.

What are the requirements?

  • You can be a Nigerian citizen or resident.
  • At least 18 years of age
  • A monthly income source.
  • Attach your ATM card to the account
  • Give details about two of your closest relatives, including their telephone numbers.
  • You have a high credit score and no outstanding loans from any other lenders.
  • Maintain an active bank account
  • Your BVN must have your phone number.
  • You must have a valid ID card issued by the government.
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What happens if I fail to repay my loan on time?

  • Telephone: 09064876570 or 07026173411
  • Email: services@hcwallet.net
  • Company Address:84 Bode Thomas St, Surulere 101241, Lagos, Nigeria

Is Halocredit’s loan app the same thing as Hcwallet or Halocredit?

Hcwallet is the new name for the loan app that was formerly called halocredit. It was most likely approved for policy violations, which is why the app now has the new name.

What exactly is HCredit?

HCredit is among the myriad of online loan applications that claim to offer loan collateral-free for collateral-free loans to Nigerians. Be aware that these loan applications are loan sharks, and they are not licensed and controlled by the government.

Do you have the right to be in jail for not paying online loan within Nigeria?

Failure to repay the loan can result in legal charges in Nigeria However, very little is understood about this and there are good reasons. In the event of a loan default, it is a civil issue and not a criminal offense which means that you are unlikely to be sent to prison for not paying back the loan.

Does Online lending hinder my BVN?

A loan application cannot block your BVN however they are able to stop you from obtaining additional loans through their platform or obtaining loans from any other loan applications.

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