HCwallet loan App Review: is it legit, interest rate and how to apply - Startuppreneur

HCwallet loan App Review: is it legit, interest rate and how to apply

Hcwallet will give you instant loan in Nigeria without collateral or paper work, you don’t need to visit any location before you will obtain the loan with just your phone you are good to go. With Hcwallet you can obatin up to #100,000 at a go.

Requirement to obatin Hcwallet loan

Below are the requirement you need to meet up with before you can obtain this loan


Have good credit score

Have source of income


Reside in Nigeria

Be above 18 years of age

Have smart phone with which to download the loan app

How to apply for Hcwallet loan

The first step to take is to head over to play store and download the loan app


Register with your name, bvn and other details

You will be ask to bind your ATM card which attract #30 fee, do so and proceed

Once you are done with registration you will be login to your account

On your dashboard locate and click on loan

There you will see amount of loan you are eligible to obtain

Click it and wait for disbursement

How much you can obtain from Hcwallet loan

With Hcwallet loan you can obatin up to #100,000 loan with out collateral or paper work. As a first timer you will not get up to this but as you continue to use the app the amount of loan you can obtain will Increase.

Hcwallet interest rate and repayment period

Their repayment period is between 7 days to 90 days while their interest rate between 5% to 25% depending on the amount of loan obtain.

As a first timer your interest rate will be high. While your repayment period will be short as you continue to use this app this will improve.

Paying back your Hcwallet loan

To payback your loan head over to your dashboard

click on loan repayment

There you will see deferent option to pay back your loan

Click on one and make payment

Once you make payment it will reflect on your dashboard

If it does not you should contact them.

What will happen if I default or refuse to pay back

If you default you will be punish by Increase in your loan Interest rate which might be up to 2%.

If you abscond, your name and bvn will be send to credit bureau for blacklisting which means you will not be able to obtain loan again in Nigeria until you pay back and clear your name with credit bureau.

Is Hcwallet loan legit

Yes, they are legit, they will surely give you loan, but they are not license by CBN, nor insure by NDIC

Our final verdict on HCwallwrt loan app

Hcwallet loan app is legit, they will surely give you. They have both good and positive review on play store but they are not license by CBN which is bad.

There is no record of them sending defamatory message to their customer.

If you are taking loan from this loan app , I want you to exercise caution since they are not license by CBN.


Above is how to obtain loan from HCwallet, they will surely give you loan but I will advice you to take loan that you can pay back to avoid had I know embarrassment.

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