What is Home Credit Loan? No, this is not a Home loan, as many thought. This is a ?onsumer loan from Home Credit Bank. The bank's products are available only to Philippine citizens aged 18 to 68 with a regular income. The company offers next products: loans, credit card, My Home Credit app, Smile Rewards loyalty program. Bank issues 2 types of loans: non-cash and cash through a mobile application.
This product of the bank is aimed at the possibility of purchasing expensive goods in stores - partners of the bank. You can find partner stores in any shopping center by a sign or plate with the HomeCredit logo or on the bank's website.
Conditions for crediting goods under the "Hulugang 0% Interest" promotion (valid only in some stores):
Down payment for purchases of goods under 5,000 pesos - 10% over 5,000 pesos - 20%;
term - 6, 9, 12 months,
registration fee 3% of the amount,
interest rate - 0%.
Loans for the purchase of goods outside the "Hulugang 0% Interest" promotion can be issued for a period of 6 to 24 months, and the interest rate will depend on the term and on the particular partner store.
These loans can only be used by those clients who have a good credit history with Home Credit bank. Conditions:
maximum amount - 150,000 pesos;
minimum amount is 10,000 pesos;
term - 18, 24, 30, 36 months;
interest rate from 29.28% per annum and will depend on the term and your credit rating.
You can cash out at any Metrobank ATM and at Cebuana Lhuillier branches by presenting 1 ID, reference number and filling out the Cebuana Lhuillier form.
Is Home Credit Loan the best?
Easy availability and low interest rates have made Home Credit Loan extremely popular in the Philippines. However, the decision on lending must be taken after weighing all the pros and cons in each case. After all, it may well be that the coveted gadget can cost much cheaper not in the partner's store. In this case, if there is not enough cash, then you will have to look for another lender. This is where the information site UpFinance comes to your aid.
UpFinance constantly monitors all operating lending institutions and their products. On the UpFinance website, you can sort loans by type: personal, auto, online loan or cash loans, etc. using the top menu and the "Credits" tab. After the selected type of loan, the service will display a list of all creditors, by clicking on the lender's name - you will be taken to its page, where there will be information about all its offers. There - on the lender's page, you will find a convenient loan calculator with which you can calculate monthly payments, the full cost of the loan and choose the optimal term.
Study the information from various information resources to find the most profitable loans for yourself!Click here for further information