Home Credit in the Philippines

Home Credit history 1997 – Home Credit is a financial organization founded in the Czech Republic as a non-Bank lender. In 1999, Home Credit (NS) opened a representative office in Slovakia. HC becomes the 1st consumer Finance organization in Slovakia. In 2002, a branch of Russia Home Credit was opened after the acquisition of Technopolis […]

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Home Credit Philippines https://upfinance.com/app/uploads/2019/10/copy-hc-logo-1.png
(02) 7753 5711, 7753 5700, 7753 5712, info@homecredit.ph, POS.Opening@homecredit.ph, repayment@homecredit.ph
Interest rate 0.48% - 3%
Loan tenure from 1 to 36 months
Approval duration Up to 0.5 hours
Min. monthly income

Product Features

Min. financing amount ₱ 10000
Max.financing amount ₱ 1000000
Min. loan tenure 1 months
Max. loan tenure 36 months

Credit

Cash loan

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Interest Rates: 
Cash Loan for Existing Clients from 29.28% per annum
Minimum Loan Amount: 10 000 PHP
Maximum Loan Amount: The maximum amount will depend on the offer given to you
Payment terms: 18 – 36 months
Approval time: up to 7 days

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Online shopping

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Interest Rates:  0% per month
Minimum Loan Amount: 10 000 PHP
Maximum Loan Amount: The maximum amount will depend on the offer given to you
Payment terms: 6, 9 and 12 months
Approval time: up to 30 minutes
Origination fee: 3% of financed amount
Down Payment: As low as 20% of purchase price

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Standard Loan

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Interest Rates:  5,8% APR
Minimum Loan Amount: 10 000 PHP
Maximum Loan Amount: The maximum amount will depend on the offer given to you
Payment terms: 6, 9 and 12 months
Approval time: up to 30 minutes
Origination fee: 3% of financed amount
Down Payment: As low as 20% of purchase price

Calculate loan

 

Loan Calculator

%
Monthly payment
₱ 888.49
Total overpayment
₱ 661.85
Total
₱ 10661.85

Borrower Requirements

Eligibility:
– At least 21 years old at the time of application but not more than 65 years old upon loan maturity
– Must be a Filipino Citizen
Stable income:
– Employed (at least 3 months),
– Self-employed, businessman,
– Pensioner or receiving regular remittance

Credit Card

Smile

Smile Rewards Program Earn up to 1% rebate/cashback anywhere. Plus, enjoy special cashback, discounts or freebies at partner merchants using your Home Credit Card.
Installment Plan Convert your straight purchases to installment for a minimum of Php3,000 at low interest rate. Just call Customer Service to make the request. You can also avail of 0% installment at partner merchants.
Shopping Convenience Card can be used at 40 million establishments in over 200 countries where Visa is accepted.

FAQ

You can apply for a Cash loan in 3 ways:
– by phone (02) 7753-5714
– fill out an application online on the bank’s website
– through the mobile application my Home Credit

Send an application

Yes, if you have approved a Cash loan you can get a cash loan and use it anywhere.

Send an application

You have 2 ways:

  • bank transfer through partners – BPI, Standard Chartered Bank, HK, Citibank
  • cash through bank partners – Cebuana Lhuiller, Bayad Center, LBC, USSC, MetroBank.
Send an application

You can check your credit information at any time through the My Payment portal on the Home Credit website.

Send an application

No, you can repay the loan balance without penalties.

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The longest loan period is 36 months.

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The fees for delayed payments:
Past Due 30 days: 400 Php
Past Due 60 days: 600 Php
Past Due 90 days: 800 Php

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Contacts

Full company name Home Credit Philippines
Address
Phone number (02) 7753 5711, 7753 5700, 7753 5712
E-mail info@homecredit.ph, POS.Opening@homecredit.ph, repayment@homecredit.ph
Social networks

Home Credit history

  • 1997 – Home Credit is a financial organization founded in the Czech Republic as a non-Bank lender.
  • In 1999, Home Credit (NS) opened a representative office in Slovakia. HC becomes the 1st consumer Finance organization in Slovakia.
  • In 2002, a branch of Russia Home Credit was opened after the acquisition of Technopolis Bank.
  • 2004 represents HC in China – China PPF Group.
  • 2005 opened a representative office in Vietnam-PPF Group, the project of pilot consumer financing is implemented through local partners.
  • 2005 opening of a branch in Kazakhstan, and in September 2008 acquired JSC international Bank in Almaty.
  • 2007 Home Credit China is opened with an office in Shenzhen.
  • In 2009 opened Vietnam PPF Group N. V. obtains a license from a local lender and operates under the Home Credit brand.
  • 2012 opening of a branch in India after the acquisition of Rajshree Auto Finance Private Ltd.
  • 2013 Home Credit opens an office in Indonesia as a joint venture with partner PT SL TRIO.
  • 2013 opened a representative office in the Philippines. HC launches operations through a joint venture with FILCOMMERCE HOLDINGS, INC.

Success and widespread adoption have been made possible by a global platform that provides centralized management of consumer Finance.
HC’s main focus is on serving borrowers in the “Junior white-collar” and “blue-collar” segments who work as employees or earn income from their microenterprises.
Using all distribution channels and combining our network, we ensure that our lends are always available to customers whenever they need financing. First of all, we place convenient points of sale for cash loans and renewable Home Credit products for customers in 9 countries .
We have accumulated a wealth of experience in providing consumer services, as well as a large amount of data on borrowers ‘ preferences. We have developed an algorithm for clarifying risks and cross-selling.
As of December 31, 2018, the potential population coverage in the territories served is 3.4 billion people.

Home Credit products in the Philippines


HC’s goal is to provide consumer borrows that are easily accessible to our customers. We are providing financial products to clients with insufficient banking services.
Consumer lending includes revolving loans and, POS credits, which are intended for purchasing goods and services in stores (physical and online. Such loans are offered without reference to points of sale and can be used by borrowers for any purpose. Revolving loans, which mainly include charge cards, are provided to existing customers on a revolving basis.

Cash loans are issued to regular customers who are rated as creditworthy, which are determined, including their Home Credit history with us. For new customers, it is also possible to get a cash lend, provided that they meet our requirements. These lends have a larger size, a longer term, and higher interest rates than POS credits.
Revolving loans are usually offered to existing customers who already have a Home Credit history. Home Credit card can be used in 40 mln companies in more than 2 hundred countries. Use the installment plan for a purchase of at least 3000 Php. For trading partners, installments are available at 0% .You can also use Home Credit card to participate in the Smile rewards program.

HC strives to provide a convenient customer service based on a quick application procedure and very fast processing time. The client needs to login to apply the borrow. Usually, the time for checking the data of a potential borrower does not exceed 15 minutes. The client must provide the ID, address of residence, landline phone and the company where he works.

What is the penalty imposed for overdue payment?


For overdue payment you’ll pay a penalty after your payment date of 200 Php, if 30 days of delay is 400 Php, 60 days of delay is 600 Php.

0 interest by Home Credit


HC offers lends at 0% per annum for the purchase of goods in partner stores. In order to get such a borrow, you need to make a pre- payout of 20% of the product cost, and for products up to 5000 PHP, at least 10% of the product cost. The offer is only available for individual cellphone, tablet, phone accessories, pocket, computer, laptop , furniture, phones , appliances, sporting goods, and equipment. For some partners, for example, in abenson.com you can purchase Huawei cellphone (pocket , laptop) with a 10% down payment. The term of the loan depends on the purchased product:

  • Loan term of 6, 9 and 12 months for mobile phone
  • 6-18 months for non-mobile items (up to 18 months in abenson.com for Huawei gadgets, appliances)
  • Upon approval of the application: down payment of at least 20% of the product price
  • For lends up to PhP 5000, the funded amount is at least 10% of the product price
  • Commission for registration of 3% of the funding amount.
  • 0% per annum.

To computation monthly payments and computation the cost of the lend can be done using the calculator on our website or the calculator on the Bank’s website. You need to put your meaning in the lend amount line and the meaning in the number of month’s line. Put the interest rate at 0.
You can leave a review of the Bank and a review of the loan on the Bank’s website or by email info@homecredit.ph.

Interest rate of best Home Credit products


One of the most popular products is Cash Loan. his type of Home Credit product is available to customers who have already used Home Credit service. The borrower needs to login to apply the lend. When approving an application, the borrower’s solvency and Home Credit history are taken into account. The interest rate will depend on the above parameters.
Cash Loan

  1. Interest rate: from 29.28% per annum.
  2. Minimum amount: 10000 PHP.
  3. Terms: up to 3 yrs.

Options for applying for a Cash Loan:

  1. By calling (02) 7753-5714 or using our toll free phones: 1800-10-234-3000 and Globus: 1800-8-905-0303
  2. Download the mobile app
  3. Fill out the Home Credit application online
  4. Visit our Partner Stores.

Home Credit payment and requirements


Home Credit payments are available online on the Bank’s website https://homecredit.ph/pay-online-user-guide.
You can also pay for loans through ATMs of banks: RCBC , BDO.
In addition to these two options, you can repay the loan through our partners: GCash, Paymaya, Palawan Express, 7-11, LBC, Truemoney, USSC, Cebuana Lhuiller, Rustans.
Please, cell the hotline (02) 7753-5712 or contact using the feedback form on the site, if you have any problems.
Requirements for HC borrowers:

  • Landline phone
  • 2 valid IDs with at least one government-issued ID
  • Bank document to the account number.

Home Credit branches and contact number


The following branches are located in the Philippines:

  • Taguig, +63 2 77559311
  • Cubao, Quezon City, +63 2 77535725
  • Quezon City, Metro Manila, +63 2 77535711
  • Home Credit Consumer Finance Philippines Inc. Mandaue City, Cebu +63 2 7753 5725

HC is expanding its branches and opening a branch in Davao. Now recruitment is under way in the Davao and Cebu offices.
Besides offices, our customer can always cell the hotline (02) 7753-5712 for urgent questions, use the feedback form on the website https://homecredit.ph/contact-us/ or send an email.

Users rating

Reviews

8 months ago

!

I thank home Credit Bank for the grace period and elimination of the penalty related to COVID-19. It is good when the Bank takes care of its customers.

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