You can download the Repayment Schedule from the Home Credit mobile app. The repayment schedule is located under the ‘My Loans’ tab on the Home Credit mobile app.

The repayment schedule is the detailed loan repayment summary that provides information about your EMI due date, due amount, payment status and the amount paid.

Alternatively, you can make payment through the Home Credit website and mobile app. Choose the “Pay EMI” option and pay using various available payment channels like Debit card, Net banking, wallet, Paytm Mobile App and UPI. 

You can also deposit cash at the listed ICICI Bank, Axis Bank, and Airtel stores.

You are required to register for standing instructions via Netbanking or Debit Card. To register, please click here

"Due Date" means the date in every calendar month on or before which the Monthly Instalment(s) of the respective Loan(s) become due and repayable by the Borrower to HCIN.

The Due Date(s) of each Loan shall be specified in the respective Loan Summary. If the customer fails to pay the EMI on the due date before the day-end process the loan will become overdue on the Due Date.

The basis for classification of SMA categories shall be as per below:

Here is an example of Special Mention Accounts (SMA) and Non- Performing Assets (NPA):

Example: If due date of a loan account is March 31, 2021, and full dues are not received before the lending institution runs the day-end process for this date, the date of overdue shall be March 31, 2021. If it continues to remain overdue, then this account shall get tagged as SMA-1 upon running day-end process on April 30, 2021 i.e. upon completion of 30 days of being continuously overdue. Accordingly, the date of SMA-1 classification for that account shall be April 30, 2021.

Similarly, if the account continues to remain overdue, it shall get tagged as SMA-2 upon running day-end process on May 30, 2021 and if continues to remain overdue further, it shall get classified as NPA upon running day-end process on June 29, 2021.

The loan accounts classified as NPAs may be upgraded as ‘standard’ asset only if entire arrears of interest and principal are paid by the borrower

As per the process, the presentation of monthly instalment is made two days prior to your due date. For e.g. if your Due date is 5th Jan 2021, mandate presentation will happen on 3rd Jan 2021 however amount will be debited from your bank account on the due date. In case of insufficient funds in your bank account, bounce charges are levied by your Bank. The company will not be liable to refund the same as these are levied as per the policy of your respective bank. In case the mandate is dishonoured by your bank, the company reserves the right to represent the mandate for clearance on any subsequent date of the month.

Once the mandate is presented for the respective month(s), the amount of monthly instalment will get deducted from your bank account on the due date. In case you have already made an advance payment through any other repayment channel within two days prior to your due date, the amount will still be deducted as the mandate presentation is initiated with the bank 2 days before the due date. The overpayment amount will get adjusted against your next month’s dues or you can request the company for refund of excess amount paid by you. In case of insufficient funds in your bank account, bounce charges are levied by your Bank. The company will not be liable to refund the same as these are levied as per the policy of your respective bank. In case the mandate is dishonoured by the your bank, the company reserves the right to represent the mandate for clearance on any subsequent date of the month. For any help, you can get in touch with us through any of our “contact us” options.

If you want to pay your monthly instalment in advance before the due date, you are requested to pay the same at least 5 days prior to the due date. Also, inform the company through “contact us” options and provide the proof of payment (Payment receipt or transaction number). If you fail to do so, the mandate will be presented by the company for the respective month(s).

The EMI due amount is automatically debited from your bank account under the Direct Debit option on successful registration of the Direct Debit mandate. The common reasons for mandate registration failure are:

•   Account details mismatch between mandate form and your bank account
•   Signature mismatch between mandate form and your bank account
•   The amount could also not be debited because of insufficient fund in the account

Home Credit India notifies you about EMI due date and due amount through calls and SMS. 

To plan ahead customers can check their Loan and EMI status on the Home Credit mobile app. EMI due date and repayment schedule is available under the ‘My Loans’ tab on the Home Credit Mobile app.

I have already paid the EMI but the same is not reflected in my account.

A confirmation SMS will be sent when your payment gets updated in the Home Credit system. It may take up to 72 hours for the update. 

EMI due date is a system generated date during the loan application process and cannot be changed during the loan period

You can change your repayment mode to Direct Debit by registering for Standing Instructions via Netbanking or Debit Card. To register, please click here

The excess amount paid will be adjusted against the upcoming instalment. You can also register for refund request at care@homecredit.co.in and we will revert back within 48 hours. Alternatively, connect with the Home Credit representative on chat option available on our website/Mobile App between 9:00 AM and 7:00 PM.

Late payment charges will be levied if the EMI amount is not paid within the due date.

Please contact our customer care at 01246628888 to check the loan foreclosure eligibility.

You can find the contract number and customer ID in the loan summary provided to you during the loan application process

• You can register for Direct Debit repayment mode during the loan application process and enjoy the convenience of paying your EMI automatically from your bank account on the due date. You don’t have to worry about EMI due date, late payment charges etc
• You may also choose to pay from the other easy modes available on our website and mobile app
• Use the “Pay EMI” option and choose from various available payment channel like Debit card, Net banking, wallet and UPI. Alternatively, you can make your EMI payments on Paytm Mobile App as well
• We also offer a cash deposit facility to pay your EMI. Visit any of the listed ICICI Bank, Axis Bank and Airtel payments banking point and pay your EMI in cash here

Please share your payment receipt at care@homecredit.co.in   along with the correct and incorrect contract numbers. Post receiving these details, it will take 3 working days to rectify the error

• Making payments on time will help us to build Credit Score and avoid late payment charges
• Financial institutes would check your Credit Score before approving loan application
• You could become eligible for loans with lesser Rate of interest with a good Credit Score

Penal Interest is levied on the overdue amount for the entire month, irrespective of number of days in the delay in repayment of Monthly Instalment.