HCredit Loan App Review: Borrow Money Online in Nigeria

HCredit is among the plethora of online loan apps that claim to give collateral free loans to Nigerians. You should know that these loan apps are loan sharks and operate unlicensed and unregulated by the government. Yet, for some reason millions of Nigerians throw caution to the wind and continue to take loans from these apps.

Again, it cannot be stressed enough that these apps are loan sharks that should be avoided, if you have the need to use them, at least take the time to read reviews like this. HCredit loan app has over 100k downloads on the play store and uses a loan software to collect prospective customers information including phone records, banking transaction alerts, BVN to build the credit score of each borrower.

To qualify for a loan or higher amounts, be sure to keep good bank transaction messages on your phone and do not have outstanding debts with other loan apps!

How to Download APK and Apply for HCredit loan

  • Download the HCREDIT loan App exclusively available on the Google Playstore and install on your Android phone.
  • Register an account with your phone number.
  • Fill in basic information, including your residential address, next of kin and employment details
  • You will also be required to provide your Biometric verification number BVN.
  • Bind your ATM card to your account to increase your chances and get a higher loan amount.
  • A one-time password OTP will be sent to your phone to confirm your details.
  • After the submission of your loan application, the software will analyze your credit score and the final result will be shown in the APP.
  • If approved, the loan amount will be disbursed into the bank account directly.

What are the requirements?

  • Be a Nigerian citizen or legal Resident.
  • Be between the age of 22 years old.
  • Have a Monthly income source.
  • Bind your ATM card to your account
  • Provide details of two of your next of kins including their phone numbers.
  • Have a good credit score with no outstanding loans from other lenders.
  • Have an active Nigerian bank account.

Is HCredit loan app legit or scam?

Yes, HCredit Loan app is legit and does give out loans to customers but with extremely high interest rates most especially for first time borrowers. Always read other customer’s reviews before you apply for a loan in Nigeria.

You should know that these loan apps are not registered or regulated by the CBN or any government agency in Nigeria. You are responsible for the security of your transactions with them and there is no way to seek redress for poor customer service.

Also its availability on Google play store does not make transactions performed on it secure. The play store merely provides an avenue for download, you are responsible for your own security while using loan apps in Nigeria.

What HCredit loan app can improve?

Most loan apps that operate in Nigeria are loan sharks and HCredit is no different. This apps gives loans with repayment tenure of less than 7 days, should you default on your repayment they will call you with threatening calls and send messages to your family and friends calling you a fraudster. Be very careful before applying for a loan!

Loan defaulters and their contacts will get sent a message that says they have defrauded the lender and are on the run with the lender’s money.

Loan repayment is also very complicated as the app contain plenty bugs that makes login and transaction difficult. There is a lots to consider before taking a loan from this app.

The customer service on this app is also poor. Messages sent to customer support via email and Whatsapp is often ignored with no response and customer service numbers is often unavailable.

This app also charges a loan disbursement fee and has plenty hidden charges. One customer had a loan if N17,000 approved for them only N11,000 was disbursed to their account with the rest calculated as service fee, the customer was asked to payback the full N17,000 within 7 days.

HCredit loan app interest rate?

Loan time tenure: from 91 days to 365 days.
Loan amount range: from ₦5000 to ₦ 500,000.
Loan interest: the total interest range is from 2% to 24%. The equivalent monthly interest is from 1% to 2% and APR is from 12% to 24%.

Calculation example:
If you choose a 91-day loan and borrow ₦5,000, the interest rate is 5% per month and the interest rate is 15%, we would charge you ₦750 as interest of 91-day repayment period. So the total amount of repayment is ₦5,750.

This interest rate and tenure is just as an example, expect your loan amount and period to be significantly lower if you’re borrowing for the first time. You can increase your amount by keeping good records and paying back loan on time.

What will happen if I don’t repay my loan or pay my loan late?

Late loan repayments automatically incur a fee of 2% per day. It is therefore advised that one does not exceed the due date. Repay the loan by its due date allows you to access larger loan sizes. Late repayments will affect your ability to get subsequent or larger loans. If you are very late on your payments, you will be reported to the First Central Credit Bureau. Blacklisting by the First Central Credit Bureau may affect your ability to borrow from other lenders.

HCredit loan app customer service number



A writer! Columnist and an academic researcher


  1. I just paid my outstanding amount 4800 this morning to Polaris account.pls confirm thanks

  2. It is a nice lending app but they have one useless and uncultured agent named Ire, she is so ill mannered, no home training, no respect for elderly ones, no sign of being trained by both parents. Her phone contact is 09155192061. They also have a nasty customer agent a female. i just wonder how these people were recruited. They behave like staff of either LAPO Microfinance or converted Lagos State Agbero.

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