Haloo Credit Or Hcredit Is a Scam Lending Company (Avoid Them)

Have you been thinking of taking an instant loan from Haloo Credit? If yes, I’ll advise you not to try that unless you’re ready to be scammed.

Fraudsters are now engineering different scamming techniques to defraud innocent people and I’m very sure they have found a new way to steal from people.

Different lending companies are starting their business in Nigeria and the CBN has been quiet regarding the regulation of these businesses. Most of these companies are imposing exorbitant charges or interest on their loans. These activities have remained unchecked and we’re seeing more of these frauds going on every day.

How will a loan company charge over 30% interest for a loan of 7 days, isn’t that stealing?. In today’s article, I’ll be discussing Haloo Credit and the reason why I believe the company is operated by fraudsters or yahoo boys in Nigeria.

Also Read: Loan Sharks In Nigeria

Haloo Credit Or Hcredit Is a Scam Lending Company (Avoid Them)

What Is Haloo Credit (HCredit)?

Hcredit Is a money lending application that allows you to get an instant loan without any form of collateral.

The application promises to give you a loan as many times as like within your credit limit without you signing any document or putting any of your assets as collateral.

What Are The Requirement For Applying For HCredit Loan?

when applying for Hcredit Loan, you’ll need the following before you can apply for a loan

  • A valid mobile number
  • Bank Verification Number
  • Your bank details
  • A valid ATM card

When you have the above requirement, the application will require you to fill your real information in other to access the loan offers.

How Much Can One Borrow From HCredit?

According to HCredit, you can borrow from N1000- N100,000 as an individual. The application claim to borrow up to N100,000 only to customers who pay back their loans on time.

What Is The Interest Rate Of HCredit?

Hcredit interest rate ranges from 4% to 30% with 3% to 29% monthly. The application claims that they have a special rate for customers who repay back their loans on time.

Haloo Credit (HCredit) Scam

Haloo Credit Is the latest scamming loan company in Nigeria today. This company is operated by professional scammers who have crafted their scamming and have perfected the process.

Getting a loan app or website script has now become so easy that anyone can buy them and install them claiming to be a company. A lot of people are ignorant when it comes to getting a loan. People are always worried about how to solve their predicaments without looking at the loan offer if it is actually worths It.

I still wonder how the app is still on playstore with all the negative reviews from displeased customers. You can check out the app from playstore.

Haloo Credit will give you loan offers ranging from N5000- N10000 which will be credited into your account almost instantly without delay. When they disburse the loan to you, you’ll be expected to pay it back with interest in 7 days.

 As a desperate individual, you might not find anything wrong with paying back a whopping 30% in just 7 days.

So for example, if they offer you a loan of  N10,000, you’ll be expected to pay back N13,000 on or before the next 7 days.

The whole idea for giving you the loan is to defraud you of your money. Let me explain how they perform this scamming process.

When they offer you a loan, they expect you to return their money on or before the stipulated day. All their mission is to ensure you default your loan so they can start their scamming process. Once you’re defaulting even for just one day, they will send out a very disgusting message to all your contacts claiming you’re a criminal who took a loan from them and you have refused to pay them back. They will now start calling you and threatening you to pay them their money.

Once you try to make a payment using the app, the transaction will keep failing. One of their customer representatives will now contact you asking you to make a transfer or bank deposit to their account number. 

On successful payment of the money through bank transfer, they will not clear the debt from your profile which means that their interest will keep accumulating every day. Even when you try contacting their customer support to complain regarding why your loan has not been cleared, they will either refuse to pick your call or if you’re lucky they will tell you that they’re working on it.

When they keep delaying the clearance of your loan for days, their interest will keep accumulating every day, which means that the money will keep accumulating as time goes by. 

Whenever you put money into the bank account which is associated with the ATM card that you added to your account during registration, they will automatically debit the loan amount together with the accumulated interest from your account.

This means that you’re paying for the same loan twice. Isn’t that stealing?

Even if you ask for a refund, they will never refund you your money.

If you’re a regular reader at Deloanspot, you must have come across one of the articles we wrote on how to know a fake or scam lending company. One of the points we made regarding how to spot a fake lender is the absence of SSL on the lender’s website.

See image below 

A lending website without SSL 

Most of these scammers ignore little but important securities on their websites because their aim is to steal sensitive information or data such as credit card details from you.

Hcredit is not a legitimate lending company because they lack what it takes to be a company which I believe they are in for the scamming business.

I have been making research to confirm if their office address is real but I couldn’t verify that. Maybe when next I visit Lagos I will try to go there in person to verify their business address which is No 5, Isaac John Street, GRA, Ikeja, Lagos, Nigeria.

Also, I couldn’t find the owner of the Hcredit lending company Even after using Whois to verify the ownership of Hcredit. This is a clear indication that the company, website and app are operated by criminals who want to conceal their identities from the public.


If you’re still thinking of taking a loan from HCredit I’ll advise you not to even think of that unless you’re ready to fall victim to their scam.

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