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Home Loan Review CandyWallet Loan: How To Apply, App Review

CandyWallet Loan: How To Apply, App Review

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CandyWallet Loan App is an online financial company that grants quick and instant loans above 100k to solve personal problems.

Unsecured loans are those that don’t require collateral or a down payment. These loans are usually short-term and have very high-interest rates.

CandyWallet Loan

The app was recently released and has received over 10k downloads in less than a month. However, mixed reviews have been posted about it. The smooth registration process is appreciated by most customers, but they are not happy with the high-interest rates. It uses loan software to gather information about potential customers, including phone records, bank transaction alerts, BVN, and other relevant data to help build credit scores for each borrower.

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 the Google Play store and provide some information about you. The algorithm will analyze your data, calculate your credit score, and offer you a loan within a few hours.

How to download APK and apply for a loan through CandyWallet

  • Install the candyWallet personal loan app exclusively on Google Playstore.
  • Register with your phone number to create an account
  • For verification, you should use the phone number associated with 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.
  • To bind your ATM card with your account, you will be charged N30. This will increase your chances of getting a higher loan amount.
  • 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.
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The N30 that was charged to attach your ATM card to your bank account is refundable. However, it can take up to 7 to 12 days for the money back to your bank account.

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.

CandyWallet Loan App Legit or Scam?

CandyWallet loan app offers microloans up to N30,000, but it has very high-interest rates. Before you apply for an online loan, be cautious. Before you apply for an online loan in Nigeria, make sure to read reviews from other customers.

CandyWallet loans cannot be used to finance your lifestyle or pay off long-term debts. While short-term loans can be helpful for emergencies, they are more expensive than long-term loans. Therefore, you should use them with caution.

These loan applications are not registered with the CBN or any other government agency in Nigeria. They are responsible for your transactions and you cannot seek redress for bad customer service.

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Its availability on the 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.


  • Loan amount up to N30k
  • They do indeed give loans.
  • Online, no collateral is required
  • Registration is simple and smooth.


  • It takes time to disburse loans once approved. Some customers may take days or weeks to see alerts.
  • For new users, the loan term is only 7 days.
  • For small amounts of loan, very high-interest rates

See what other lenders have to say about CandyWallet’s loan app

The app appears to work well, except for the high-interest rate on loans.

Johnhost John wrote: “Greediness is the highest error. How can you lend N8000 to get N14400 in 14 days?… Get a good loan app like Carbon, Aella Okash, Branch, Quickcheck, etc. It is not possible to stay here and commit suicide. They had already taken my N30 to card binding, so I ran fast. This kind of loan is unacceptable to me.

Anne Amba-Myne said, “The speed at which review happens is very slow but the speed at which rejection occurs is faster than light!” Haba!”

Sunday Etukakpan wrote: “This app works well, easy, and quickly. But, the problem is that the interest pleases you people need to work with it.” more borrower comments are here.

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 of 60 days.

What is the interest rate?

You can borrow as little as N2,000 or as much as N120,000 and pay it back in 60-180 days. The usual repayment term is monthly. Our credit scoring algorithm determines our minimum and maximum interest rates. They are 3% per month, with a maximum of 10% per calendar month. This gives rise to an Annual Percentage Ratio (APR) between 36% and 120%.

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You will pay N1,966.67 per month if you take out a loan package starting at N10,000 (Principal), and repay it over 6 months with an interest rate of 3% per month (36% APR). You would have paid N11,800 total over the six months.

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.

What happens if I fail to repay my loan on time?

Late loan repayments are subject to a 2% daily fee. Therefore, it is important to adhere to the due date. You will be able to get larger loans if you repay the loan on time. You will not be eligible to receive larger loans or any other loan products if you make late repayments. You will be reported to First Central Credit Bureau if you are late with your payments. The First Central Credit Bureau could blacklist you, which may impact your ability to borrow money from other lenders.

CandyWallet loan app customer service number

  • Tel: 9124072881
  • Email: candywalletservice@gmail.com
  • Address: 20-12 Adesina St, Fadeyi 102215, Lagos, Nigeria.
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