Frequently Asked Questions

How can I buy a Mobile Phone on easy EMIs from Home Credit?

You can get any smartphone of your choice on easy EMIs by applying for Home Credit Ujjwal EMI Card. You need to meet the following criteria:

• Be an Indian citizen aged between 18 and 60 years.
• Have valid ID proof and current address proof.
• Be employed, self-employed, or a pensioner.
• Maintain an active bank account.
• Ensure a minimum 90-day interval between two Home Credit loan applications.

What is the tenure of EMIs for smartphone loans on Ujjwal EMI Card?

Tenure of the loan depends on the chosen brand and product. Typically, the tenure varies between 6 -13 months.

What documents are required to buy Mobile phone on EMIs from Home Credit

To take a Mobile Phone on EMIs, you need to provide one ID proof and one current address proof.

List of acceptable documents

ID Proof:

• PAN Card [Mandatory]
   

Address Proof (Any one of these):

• Aadhar Card
• Voter ID Card
• Driving License
• Passport
   

*Conditions apply. Home Credit India reserves the rights to call upon additional documents, if required.

Where can I buy a smartphone on EMIs from Home Credit?

Home Credit India is currently in 625 cities and has partnered with 53,000+ merchants in these locations. Click here to locate the nearest shop locator to your location Calculate your EMI here.

What is the #EMIPeBadiBachat offer (Gift offer) provided by Home Credit India?

Gift offer is available on select products, where the last EMI is waived if customers pay all previous instalments on or before the due date. This offer is available only to qualified customers based on their past credit history.

Does #EMIPeBadiBachat offer (Gift offer) applicable in case I opt for Payment Holiday during my loan term?

Yes, Payment Holiday has no impact on #EMIPeBadiBachat offer (Gift offer). Payment Holiday will extend your loan term by a month, but you need to ensure that you pay all your instalments on or before the due date.

When will my loan contract get over if I pay all my instalments on time, with #EMIPeBadiBachat offer (Gift offer)

The loan contract will be automatically finished 6 days after the payment of your second-last EMI (Installment).

Which Value Added Services are available while financing mobile phones?

Home Credit India gives you the opportunity to opt for the following Value Added Services with Mobile Phone on EMIs:

• Safe Pay
• Mobile Protect
• Extended Warranty
   

How can I buy Home Appliances on easy EMIs from Home Credit?

You can get any Home Appliance of your choice on easy EMIs by applying for Home Credit Ujjwal EMI Card. You need to meet the following criteria:

• Be an Indian citizen aged between 18 and 60 years.
• Have a valid ID proof and current address proof.
• Be employed, self-employed, or a pensioner.
• Maintain an active bank account.
• Ensure a minimum 90-day interval between two Home Credit loan applications.

What documents are required to buy Home Appliances on EMIs from Home Credit?

To take a Home Appliance on EMIs, you need to provide one ID proof and one current address proof.

List of acceptable documents

ID Proof:

• PAN Card [Mandatory]
   

Address Proof (Any one of these):

• Aadhar Card
• Voter ID Card
• Driving License
• Passport
   

*Conditions apply. Home Credit India reserves the rights to call upon additional documents, if required.
 

Which home appliances can I buy on EMIs from Home Credit?

• Air Conditioner
• TV
• Refrigerator
• Air Fryer
• Air Cooler
• Audio/Video Player
• Clothes Drying Machine
• Dishwasher
• Geyser
• Home Theatre
• Inverter and Battery
• Microwave Oven
• Heater
• Oven and Stove
• Hob and Chimney
• Vacuum Cleaner
• Washing Machine
• Water Purifier
• Kitchen Appliances
   

What is the maximum loan amount that I can get to buy Home Appliances on EMIs?

The loan amount for taking a Home Appliance on EMIs depends on the total available limit which is offered to you on Ujjwal EMI Card. You can get a limit of up to ₹75,000.

What is the tenure of EMIs for Home Appliance loan on Ujjwal EMI Card?

Tenure of the loan depends on the chosen brand and product. Typically, the tenure varies between 6 to 13 months.

Where can I buy a Home Appliance on EMIs from Home Credit?

Home Credit India is currently in 625 cities and has partnered with 53,000+ merchants in these locations. Click here to see the nearest partner shop.

Can I choose the loan amount and tenure to buy Home Appliances?

We have various loan options based on product categories, model, and price, which will help you choose the loan amount and tenure as per your requirements.

Which Value Added Services are available while financing Home Appliances?

Home Credit India gives you the opportunity to opt for the following Value Added Services:

• Safe Pay
• Extended Warranty
   

How can I use my Ujjwal EMI Card to buy products online on easy EMIs?

You can use your Ujjwal EMI Card to buy products online by selecting it as the payment method during checkout on our partner merchant websites. You will need to select:

• EMI Option under Payment Method
• Easy EMI/Cardless EMI under EMI Options
• Home Credit Ujjwal EMI Card under Cardless EMI/EMI Option

How will the repayment of my online transactions happen?

Repayment for your purchases will be through convenient monthly installments, which will be added to your Ujjwal EMI Card monthly bill. The bill amount will be automatically deducted from your linked bank account if you have successfully set up your Auto Debit. Alternatively, you can use Home Credit mobile app or website to make your bill payments.

Why can’t I see Ujjwal EMI Card as a payment option on the websites of the listed brands. 

Online transactions are enabled only if the user is approved by Home Credit to make online transactions using Ujjwal EMI Card. We constantly evaluate all our customers to allow online transactions. In case you're not eligible now, consistent on-time payments of your loan dues may qualify you in the future.

I noticed a charge of Rs 249 on my monthly bill. What is this for?

A transaction fee of Rs 249 is applied to all online transactions.

I have returned the product, but my loan is still active on Ujjwal EMI Card. Why?

Your loan on Ujjwal EMI Card will be cancelled and limit will be restored once Home Credit receives the cancellation request from the merchant partner. Please wait till your return is fully processed.

Why do I need to give my PAN number to complete the transaction?

As per RBI guidelines two factor authentication is mandatory. Hence, we need your PAN Number in addition to the mobile number for authentication.

I want to return some of the items I purchased. How will my EMIs get adjusted? 

Certainly, a partial return of your order is possible. Once Home Credit receives the intimation of the return from the merchant partner, this loan will be cancelled and a new loan with the new loan amount will be created. The new loan amount will be the original order value minus the return value. The updated loan summary and repayment schedule will be available on Home Credit mobile app.

Can I return the entire purchase and cancel my loan?

If you are eligible to return your purchase, Home Credit will cancel your loan after your return is successfully processed by the merchant. The amount will be restored in your Ujjwal EMI Card limit. Home Credit offers 15 days of free look period for loan cancellation.

What is a Personal Loan?

A personal loan is a loan that does not require any collateral or guarantor and can be obtained with just two documents. Home Credit India offers personal loan of up to ₹4,80,000 to address your present financial requirements. Use it for urgent needs such as medical emergencies, home renovations, weddings, or any unforeseen expenses.

What are the eligibility criteria for a Personal Loan?

With our simple eligibility criteria, existing Home Credit customers can easily apply for a personal loan.

What documents are required to apply for a Personal Loan?

To apply for a Personal Loan, you need to provide 1 ID proof and 1 current address proof.

List of acceptable documents for Existing Home Credit Customers:

ID Proof:

• PAN Card [Mandatory] 

Address Proof (Any one of these):

• Aadhar Card
• Voter Id card
• Driving License
• Passport
• Government House Allotment Letter
• Property Tax Receipt
   

*Conditions apply. Home Credit India reserves the rights to call upon additional documents, if required.
 

What is the minimum and maximum loan amount offered by Home Credit India to existing Home Credit customers?

What will be the tenure for availing a Personal Loan?

How can I apply for a Personal Loan with Home Credit?

To apply for a Personal Loan with Home Credit, you need to be an existing Home Credit customer. You can check your pre-approved loan offers on Home Credit App and complete the application process directly within the App. Our Sales Representatives will reach out to eligible customers as soon as loan offers become available for them.

Can I choose the loan amount and tenure of my loan?

Customers can select the loan amount and tenure based on the eligibility criteria set by Home Credit India, and easily calculate their repayments with the Personal Loan EMI Calculator.

Do I have to pay any additional charges for a Personal Loan?

A processing fee of up to 5% may be levied on the loan as per the loan offer available for you.

Can I get a top-up loan on my existing Personal Loan?

Yes, Home Credit India provides a top-up on the existing personal loan based on the repayment history and applicable credit policies. You can check your eligibility on the Home Credit App.

What are Late Payment Charges?

Late Payment Charges shall be levied on the total outstanding principal amount of the loan in case a customer does not pay the monthly installment on or before the due date.

How can I find out the status of my Personal Loan application?

Once your loan is approved, you can check its status through the Home Credit App. Typically, the loan amount is transferred to your bank account within 5 working days following the successful setup of Auto Debit.

Additionally, you can reach out to us at 0124-662-8888 or chat with us via our mobile App between 9:00 a.m. and 7:00 p.m. Alternatively, you can email us at care@homecredit.co.in with your query, and we will respond within 48 hours.

Which Value-Added Services are available along with the Personal Loan?

Home Credit India gives you the opportunity to opt for the following services along with the Personal Loan:

• Safe Pay
• Health Services
   

Is it mandatory to take a Value-Added Service with the loan?

Customers may decide to opt for value added service as per their need during the loan application process.

Can I foreclose my Personal Loan?

Yes, your Personal Loan can be foreclosed by paying 4% of the principal outstanding amount.

Who can avail a Two Wheeler Loan from Home Credit?

You are eligible to apply for a Home Credit Two Wheeler Loan if you meet the following criteria:

• Indian citizen aged between 21-58 years.
• Have a valid ID and address proof such as PAN, Aadhaar card, Passport, Driving licence, Voter's Identity Card issued by the Election Commission of India, Job card issued by NREGA duly signed by an officer of the State Government, and letter issued by the National Population Register.
• Salaried or self-employed.

How can I reduce the EMI of my Two Wheeler Loan?

You can lower your EMI by:

• Choosing a longer loan tenure.
• Making a higher down payment at the time of purchase.

What is the range of the loan tenure?

Home Credit offers flexible repayment tenures ranging from 12 months to 60 months.

What is the Interest rate of the loan?

The Two Wheeler Loan interest rate is based on the applicant's profile and is at the discretion of Home Credit starting from 8.5%*

Can I take a loan for any Two Wheeler in the market?

Yes, you can get a loan for any Two Wheeler available in the market, including both Electric Vehicles (EVs) and Internal Combustion Engine (ICE) models.

What are the fees and charges applicable in a Two Wheeler Loan?

To get answers to the applicable fees and charges, please check out our eligibility section here.

Do I have to pay any additional charges?

To provide you with a smooth experience, we charge a small fee for processing, administration, documentation (if applicable), post-disbursal documents (PDD), and the required stamp duty.

Does this loan need a security or collateral?

No, a security or collateral is not required. The financed Two Wheeler will act as a collateral i.e. till the loan is not fully settled, the vehicle will be hypothecated to Home Credit.

Do you provide insurance for the vehicle?

No, Home Credit does not provide any insurance for the vehicle.

How will I know about my Installment Amount?

Your Equated Monthly Instalment (EMI) for the Two Wheeler Loan depends on the loan amount, loan term, and interest rate. All these details will be clearly shown in your loan documents and amortization schedule.

What is the downpayment amount?

The down payment for a Two Wheeler Loan is a small amount you pay at the dealership. It’s the difference between the vehicle’s on-road price and the loan amount approved for you. Once your loan is approved online, we will inform you of the exact down payment.

Where can I see my Two-Wheeler Loan documents?

The loan Sanction Letter pertaining to your Home Credit Two-Wheeler Loan will be available at the Home Credit App.

Can I get a Two Wheeler Loan without a down payment?

You can avail up to 95% funding of the vehicle's on-road price when applying for a Home Credit Two Wheeler Loan.

Can the tenure and loan amount be changed after my Two Wheeler Loan has been processed?

No, you cannot change your loan amount or tenure after your application is processed. You can only choose these when you apply for the loan.

Do I need to share References for my loan application?

Yes, you need to provide details of two references when you apply for a loan with Home Credit.

What is the Two Wheeler Loan application process?

You can visit any of our partner Two Wheeler showrooms, where our representative will guide you through the formalities and check your loan eligibility on the spot. Once your loan is approved, you’ll be ready to take home the Two Wheeler of your choice at the earliest opportunity.

How do I update my mailing address, mobile number or e-mail ID registered in my Loan Account?

You can get in touch with Home Credit customer care executive via the below options to update your mailing address, mobile number or e-mail ID :

• Home Credit Mobile App https://homecr.go.link/9uJ6C
• Home Credit Website https://www.homecredit.co.in
• Home Credit Helpline at 0124-6628888 or write to care@homecredit.co.in

Can I make a part payment?

No, you cannot make any part payments for your loan.

Why has my outstanding principal not decreased despite making more payments?

Our current policy does not allow additional payments to reduce your outstanding principal. They will be adjusted to your upcoming EMI amount.

Can I foreclose/pre-pay my Two-wheeler Loan?

Yes, your Two-wheeler loan can be foreclosed/pre-paid by paying 5% of the principal outstanding amount.

What is a Loan Against Property?

A Loan Against Property (LAP) is a type of loan where you borrow money by using your house, shop, or other property as security. The loan amount depends on the current value of your property.

What is the eligibility criteria to apply for a Loan Against Property?

You are eligible to apply for a Home Credit Loan Against Property (LAP) if you meet the following criteria:

• Age - minimum 23 years
• Nationality - Indian
• Have a valid ID and address proof such as PAN, Aadhaar card, Driving licence or Voter's Identity Card issued by the Election Commission of India
• Salaried Individual/Self-employed Professional/Self-employed Individual (Proprietorship / Partnership / Pvt Ltd Companies etc.)
• Active Bank Account
• Property Documents/Ownership should be in the name of the Applicant

What is the maximum loan amount I can get through a Loan Against Property (LAP)?

You can avail a loan of up to ₹75 lakhs, depending on the value of your property and your eligibility.

What is the interest rate for the Loan Against Property (LAP)?

The interest rate for the Loan Against Property (LAP) starts from 15%* (terms and conditions apply).

What is the tenure for Loan Against Property repayment?

The loan tenure is flexible from 3 years up to 15 years, allowing you to choose a repayment plan that suits your financial needs.

What is the Loan-to-Value (LTV) ratio offered?

You can get a Loan-to-Value (LTV) ratio of up to 70%, which means you can borrow up to 70% of your property's market value.

How long does the Loan Against Property application and disbursal process take?

The processing time generally ranges from 15 to 30 working days, depending on documentation completeness and verification.

How do I apply for a Loan Against Property?

To apply for a Loan Against Property, just visit www.homecredit.co.in or download our app and provide your details. Once submitted, our representative will contact you within 24–48 hours to assist you with the process.

What is a Balance Transfer of Loan Against Property?

A Balance Transfer of Loan Against Property allows you to transfer your existing Loan Against Property for better terms, such as lower interest rates or additional top-up funds.

Can I transfer my existing Loan Against Property to Home Credit?

Yes, you can transfer your existing Loan Against Property to Home Credit and also avail a top-up loan*.

Can I get additional funds with a Balance Transfer?

Yes, you can opt for a top-up loan facility of up to ₹75 lakhs, depending on your eligibility and property value.

Is there a penalty for prepayment or foreclosure?

Incase you decide to foreclose your loan, you will be charged 5% of the outstanding principal.

Can Loan Against Property be taken on jointly owned property?

Yes, Loan Against Property can be availed against jointly owned property. All co-owners generally need to be co-applicants and provide consent.

What are the schedule of charges?

What documents are required to apply for a Loan Against Property?

Identity Proof: PAN card
Address Proof: Aadhaar card, Voter ID, Driving License, Passport or Utility bills

Income Proof:
Salaried: Latest 3 months’ salary slips, Form 16, Bank statements.
Self-employed: Last 2 years’ ITR, audited financial statements, GST returns, and Bank statements.

Property Documents: Title deed, approved property plan, sale deed, and/or lease agreement.
Photographs: Passport-sized photos of applicant and co-applicants.

Please note that the above document list is indicative and may vary depending upon the applicant's profile and the type of property.

What can I use the Loan Against Property funds for?

Funds from a Loan Against Property can be used for multiple purposes including:

• Business expansion or working capital
• Debt consolidation
• Property purchase or renovation
• Personal needs like education, medical emergencies, or weddings

What types of properties are acceptable for Loan Against Property?

Residential properties, Commercial properties, Industrial properties, Institutions, Hospitals, and Shopping malls (subject to internal policies).

What is a Flexible Personal Loan?

Flexible Personal Loan offers you with the flexibility to choose your credit limit, from which you can withdraw any amount starting from ₹5000 into your bank account whenever you want. You can use this limit for various purposes such as medical treatment, home renovation, travel, wedding, or any other financial requirement.

Home Credit has stopped sanctioning Flexible Personal Loans

What are the minimum and maximum limits offered by Home Credit?

With Home Credit Flexible Personal Loan, you can get a flexible credit limit ranging from ₹10,000 to ₹1,00,000

What is the minimum amount I can withdraw from my flexible credit limit?

You can withdraw any amount starting from ₹5000 from your flexible credit limit. The maximum amount you can withdraw cannot exceed your available credit limit at that point of time.

The Withdrawal facility on the Flexible Personal Loan has been stopped by Home Credit

What is the minimum and maximum tenure offered for a Flexible Personal Loan?

Home Credit Flexible Personal Loan offers a flexible limit for 36 months. After that it can be converted into a term loan for up to 24 months. There is no minimum tenure, and you can repay the outstanding principal whenever you want, through the "Pay Now" section on the Flexible Personal Loan page in the Home Credit app.

What is a transaction fee, and when is it charged?

The transaction fee is 2.5% of the withdrawal amount. It is charged only when a withdrawal is requested by you.

The Withdrawal facility on the Flexible Personal Loan has been stopped by Home Credit

When will I get the Flexible Personal Loan monthly bill?

Your monthly bill will be generated 15 days before the due date. It will be made available on the mobile app and sent to your registered email ID. You can easily download your monthly bill from our Home Credit app. Just click on your Flexible Personal Loan on the Home Page and go to the View Monthly Bill section.

What will be the due date for my flexible personal loan? Can I change the due date?

The exact due date is generated once the loan application process is completed, and the contract is signed. Once generated, the due date cannot be changed.

How can I pay my monthly bill?

You are requested to set-up auto debit at the time of taking the loan so that your monthly bills will automatically be deducted from your bank account on your due date. If for any reason you were unable to pay using auto-debit, you can pay your monthly bill through the Home Credit App. Select the "Pay Now" option on the Flexible Personal Loan page and choose a repayment method from the available options. If you wish to set up auto debit now, click here

How is my monthly bill calculated?

The minimum amount due on your monthly bill is calculated as 3% of the outstanding principal + Applicable Fees + Interest Charged + Value Added Service Fee (if applicable) + Late Payment Charges, or Rs. 2500, whichever is higher. It is mandatory to pay the Minimum Amount Due on or before your due date to avoid late payment charges and a negative impact on your credit score. You can also make a lump-sum payment of the outstanding principal anytime, whenever you have additional funds with you.

When would the late payment charges be levied?

Late payment charges will be levied on your total outstanding loan amount if the minimum amount due as per the monthly bill is not paid by the due date.

How can I foreclose my flexible personal loan?

You can foreclose your Flexible Personal Loan by placing an early repayment request by calling 0124 662 8888 or writing to our Customer Care department at care@homecredit.co.in.

What is Flexi Period?

Flexi Period is the 3-year tenure of your Home Credit Flexible Personal Loan in which you are able to withdraw an amount of your choice from your Flexible Personal Loan limit and pay back whenever you have the funds available with you. During the Flexi Period there is a monthly bill which is generated and the Minimum Amount Due as per the bill needs to be paid on the monthly due date.

However, Home Credit has now stopped providing withdrawal option on Flexible Personal loan.

What is Fixed period?

Fixed Period refers to the tenure of up to 2 years which comes into effect after the Flexi Period has ended. If you have an amount due towards the end of the Flexi Period, you will be required to pay it off before the Flexi Period ends and in case you are unable to do so, you can convert it into a Fixed Period Personal Loan of up to 24 months.

All Flexible Personal Loans are converted to a Fixed term period loan to help you pay your EMIs easily

What is a Fixed Period Personal Loan?

After 34 months of the Flexi Period have passed, customers are given an option to either pay their Total Amount Due and close their Flexible Personal Loan or to convert the Total Amount Due into a Fixed Period Personal Loan. A customer also has the choice to pay off some part of the Total Amount Due during the Flexi Period as a lumpsum payment and convert only the remaining into a Fixed Period Personal Loan.

A Fixed Period Personal Loan is very similar to a regular personal loan which will have a fixed tenure of 3 to 24 months, a fixed interest rate at which interest shall be calculated and a fixed EMI which needs to be paid every month on or before the due date.

What is the eligibility criteria for converting the Total Amount Due of the Flexi Period into a Fixed Period Personal Loan?

A customer can convert the Total Amount Due provided the following conditions are met:

• Total Amount Due is either more than Rs. 2500 or Rs. 5000
• Customer has no overdue amount on the Flexible Personal Loan

In case your Total Amount Due is less than Rs. 2500 or Rs. 5000 then you will have to keep paying off your Minimum Amount Due and close your account to avoid any delinquency or late payment charges. Your monthly bill will keep generating.

What is the process of converting the Total Amount Due into a Fixed Period Personal Loan?

After 34 months of your Flexi Tenure or at any point of time during the Flexi period as decided by Home Credit, your Total Amount Due will be converted into a Fixed Period Personal Loan. The Fixed Period Personal Loan offers an easier repayment experience and provides greater clarity on monthly payments.

If you have crossed 34 months then you will be able to see the option of loan conversion on our mobile app. This option will be visible to you only if you are eligible for loan conversion. If you wish to convert your outstanding dues into a Fixed Period Personal Loan, all you need to do is select the option to convert, choose your tenure and complete the conversion on the app. Once converted, this cannot be reversed. However, if you want to pay and close your account instead of converting, you will be able to do so on the app. Kindly view your Flexible Personal Loan page on the mobile app for exploring all your payment and conversion options.

What if I don’t want to convert my Total Amount Due into a Fixed Period Personal Loan?

All Flexible Personal Loans will be converted to Fixed Period Personal Loan.

In case you do not wish to convert your Total Amount Due into a Fixed Period Personal Loan, then you will have to pay it off to Home Credit before your Flexi Period ends so that your loan account can be closed successfully. You shall receive a No Dues Certificate after 10 days of loan closure on your registered email ID and phone number. However, in case a customer fails to pay by the end of the 36th month of the Flexi Tenure and does not convert the amount into a Fixed Period Personal Loan on his own via the app, then it shall automatically get converted into a Fixed Period Personal Loan of up to 24 months, provided the amount due is more than Rs. 2500 or Rs. 5000.

What is the Interest rate of Fixed Period Personal Loan?

The interest rate of the Fixed Period Personal Loan is the same as the interest of your Flexible Personal Loan as mentioned in your loan documents.

What is Fixed Period Conversion Notice?

It is the document which is issued to the customer after conversion of Flexible Personal loan to Fixed Period Personal loan. It includes the Key Fact statement, repayment schedule and Terms & Conditions of the Fixed Period Personal Loan.

How is the installment of the Fixed Period Personal Loan calculated?

Your installment will be calculated based on the interest rate and the tenure which is applied to your Fixed Period Personal Loan which is generally between 3 to 24 months.

Will there be any fee charged at the time of end of Flexi Period?

No, there will be no additional fee charged at the end of the Flexi Period, other than your outstanding dues and late payment charges if any.

Will there be any fee charged for converting the Total Amount Due into a Fixed Period Personal Loan?

No, there is no processing fee or conversion fee charged to convert the Total Amount Due into a Fixed Period Personal Loan. The conversion facility is free of cost.

Will the annual renewal fee be charged during the Fixed Period?

No, the Annual Renewal Fee for Flexi Period shall not be charged during the Fixed Period.

What will be the due date for the Fixed Period Personal Loan?

The due date of the Fixed Period Personal Loan will be the same as the due date of your Flexible Personal Loan. The monthly bill will continue to be generated with your installment amount as the due amount.

Will I still receive a monthly bill or statement?

Yes, your monthly bill will continue to be generated as usual. It will inform you about the EMI amount that you need to pay.

How can I pay the EMI of Fixed Period Personal Loan?

The payment of your monthly installment shall be deducted from your linked bank account via auto debit in case your auto debit facility is active. If you have not set up auto debit, we recommend you do so on our website. Alternatively, you may pay your monthly dues via our mobile app or website as well.

Will there be any additional charges if I miss my EMI?

Yes, the late payment charges which apply for any Home Credit loan shall apply here as well. Below is a detailed overview of late payment charges:

Late Payment Charges

• In case of non-payment of dues by the due date, Late Payment Charges shall be levied, effective 28th March 2024.
• All fees and charges are inclusive of taxes.

Where can I see the details and monthly bills of my Flexible Personal Loan after converting to Fixed Period Personal Loan?

You will have access to the details, documents and monthly bills of your Flexible Personal Loan in the self service section on our mobile app.

I want to foreclose my Fixed Period Personal loan. How can I do it?

You may foreclose your Fixed Period Personal Loan by contacting our customer care. You may email us your request at care@homecredit.co.in You must contact our customer support and formally request for foreclosure. Please note that the foreclosure of a Fixed Period Personal Loan will not happen automatically upon full payment of the total amount due.

Is there any free look period for closure of my Fixed Period Personal Loan?

No, there is no freelook period for Fixed Period Personal Loan. Once the loan is converted to a Fixed Period Personal Loan, you will have to contact customer care at care@homecredit.co.in for foreclosure.

How will I know if my Total Amount Due is converted to a Fixed Period Personal Loan?

You will be communicated about your loan conversion and can check the self service section on our mobile app. The loan conversion will be done automatically and you will receive a Loan Conversion Notice with complete details including loan amount, tenure, EMI amount, and applicable terms.

How is interest calculated if the Flexible Personal Loan is converted to a Fixed Period Personal Loan between in the middle of a billing cycle?

If the Flexible Personal Loan is converted to a Fixed Period Personal Loan in the middle of a billing cycle, the interest amount for the current Flexi-period billing cycle (during which the loan conversion occurs) will be included in the first EMI of the converted loan. This amount will be payable on the first installment due date of the Fixed Period Personal Loan.

What is Mobile Protect?
Mobile Protect is a value-added-service that covers repair and replacement of the new device in case of accidental and liquid damage.
For more details on Mobile Protect, please refer to the Terms and Conditions of your product .
  
Are there any charges to avail Mobile Protect plan?
Yes, a nominal charge is to be paid to avail the Home Credit Mobile Protect plan
 
How can I raise repair request under Mobile Protect service?
You can raise the repair request with authorized service provider for Mobile Protect service in two simple steps:
•    Step 1: Register your repair request by calling the authorized service provider, or online, as mentioned in your e-kit.
•    Step 2: Submit the required documents and pay the necessary service fee.

Once your request is registered and processed, pick-up will be scheduled by an authorized service provider. 
For queries related to Mobile Protect, please contact your service provider.  
 

What is Safe Pay?
Safe Pay is a value-added service offered to Home Credit consumer durable, personal loan and two wheeler loan customers. It is a package that offers Payment Holiday, Free Early Repayment, Loan Protection, Health Services. It offers customized plan options to choose from, as per your need.

For more details on Safe Pay, please refer to your product T&C document.

For any queries or concerns related to Safe Pay, you can connect with the following team-
 

• For queries related to Payment Holiday and Free Early Repayment, contact:
  Home Credit contact center - 0124-6628888 [Monday to Saturday 9 am to 7 pm]
   
• For queries related to Loan Protection, contact:
  Service partner (Refer product document for details) or Home Credit contact center - 0124-6628888 [Monday to Saturday 9 am to 7 pm]
   
• For queries related to Health Services, contact:
  Service partner (Refer product document for details) or Home Credit contact center - 0124-6628888 [Monday to Saturday 9 am to 7 pm]
   

Benefits are subject to the Safe Pay plan opted. To know more contact us at 0124-6628888 [Monday to Saturday, 9 am to 7 pm].

What is the Extended Warranty?
Extended Warranty Plan can be added to the Home Credit loan as a value-added service while purchasing a product financed by Home Credit.
For more details on Extended warranty, please refer to the product Terms and Conditions in the document.

When does the Extended Warranty period start?
The Extended Warranty period commences upon the expiration of the manufacturer’s warranty.

When does the Extended Warranty period end?
Tenure of your Extended Warranty service is mentioned in the Terms & Conditions. Please refer to the product documents for details.

How can I avail benefits under Extended Warranty?
You can avail the services of Extended Warranty by registering your request online or on call. Follow these simple steps to register your repair request:

• Register the repair request with the service provider within 7 days of damage
• Upload the purchase Invoice
• Schedule an appointment for the technician who will visit at your convenience

 A verified technician will visit and provide the repair services at the scheduled time. 

For queries related to Extended Warranty, please contact your service provider

Can a person with no credit history apply for a loan?
Yes, an Indian citizen with an active source of income can avail Home Credit Loans even without a credit history.
 
Can a retired person apply for a loan?
Yes, a pensioner can avail the Home Credit Loan, if they meet the minimum eligibility criteria.
 
Can an existing Home Credit customer apply for an additional loan?
Yes, existing customers can apply for additional loans if their current contract to any linked contract is not delinquent. Additionally, there should be a gap of a minimum of 90 days between loan applications.
 
What is the maximum amount I am eligible to avail?
The maximum loan amount differs from product to product. You can check the maximum loan value on specific Home Credit product sections.
 
How can I make partial payments against my EMIs?
There is no option for part payment against EMIs, but you can avail Payment Holiday option after paying the first two EMIs.
 
How do I change my EMI due date?
The EMI due date is system generated and cannot be changed during the entire loan tenure 
 
How do I check the status of the payments I have made?
Payment status can be checked under the Repayment Schedule on the Home Credit mobile app. To access the Repayment Schedule, navigate to Home > My loans > Contract Number > Repayment Schedule > Download Repayment Schedule.
 
How many products can I buy in a single transaction?
Only one Home Credit Loan can be availed on a single loan application.
 
When would I be levied late payment charges on my loan?
Late payment charges will be levied if the EMI amount is not paid on or before the EMI due date.
 
How can I foreclose my loan?
The loan can be foreclosed by raising a request for early repayment with Home Credit customer care.
 

What are the accepted payment modes for the Home Credit loan repayment?
You can make payments through the Home Credit Website or Mobile App. Choose the "Pay EMI" option and pay using various available payment channels like Debit card, Net banking, Wallet, or UPI. Alternatively, you can use any of the leading payment apps like Paytm, Phonepe or GooglePay to pay for your Home Credit loan installments. You can also deposit cash at the nearest Axis Bank, Ebix cash outlets, Fino Payments Bank and Airtel stores.

How can I setup my Auto Debit via Home Credit’s website? 
You can easily setup an Auto Debit mandate on our website by following few simple steps:

1. Go to Loan Management tab and click on “Register for Auto Debit”
2. Enter your Registered Mobile Number with Home Credit and validate the OTP.
3. You may be requested to enter your PAN Card Number for verification purposes, which is mandatory. Date of Birth may also be required.
4. Once you have successfully logged in, you will be able to see your loan contracts with Home Credit along with their Auto Debit mandate status.
5. Select the loan contract for which you wish to set up Auto Debit and proceed with the mandate setup. Alternatively, if you have an active mandate, you will see an Edit option to change an active mandate. Once the customer edits or sets up a new Auto Debit on a contract, the new mandate will get mapped to the customer account.
6. You can choose from a variety of ways like Net Banking, Debit Card, or UPI to link your bank account. Select the method which is most convenient and enter the details as asked in the form.
7. Review and authenticate your mandate as per the steps on the screen and it's done

Setup Auto Debit now and never miss an EMI with Home Credit

Where can I find my due amount and due date for my next installment?
The due date and repayment schedule for your active loans can be found under the 'My Loans' section within the Home Credit Mobile app. For Ujjwal EMI Card or Flexible personal loan, you may refer to the monthly statements/ monthly bills.

Home Credit India will also inform you about your EMI due date and the due amount through phone calls and SMS notifications.

What is a repayment schedule, and how can I get a copy of it?
The repayment schedule provides information about your due date, due amount, payment status, payment date, and paid amount.

You can download a copy of your repayment schedule from our mobile app under the "Loan Management" tab.

What is Due Date and Overdue?
"Due Date" means the date in every calendar month on or before which the monthly installment(s) of the respective loan(s) becomes due and repayable by the borrower to Home Credit.

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, the loan will become overdue.

Where can I find my Contract Number/Ujjwal EMI Card Number?
Your Contract Number/Ujjwal EMI Card Number can be found in the loan summary and application form that was provided to you when you went through the loan application process. You can also check your Contract Number/Ujjwal EMI Card Number details on our mobile app.

Can I change my EMI due date?
The due date is a system-generated date during the loan application process and cannot be changed.

I have opted for Auto Debit as my repayment mode, but the installment amount/EMI has not been debited from my account.
The installment amount/EMI is automatically debited from your bank account after successful Auto Debit set up. It may happen that your account does not have sufficient balance at the time of debit due to which the amount was not successfully debited.

For more information, contact us at care@homecredit.co.in or contact our customer care number at 0124-6628888.

My Auto Debit account number has changed; how can I register for a new account?
You can change the account linked to Auto Debit by clicking here.

I have already paid the monthly installment/ bill, but the same is not reflecting in my account.
A confirmation SMS will be sent when your payment gets updated in the Home Credit system. This may take up to 72 hours.

Are there any charges if I want to foreclose/close my loan early?
Yes, foreclosure charges will apply as per the terms and conditions if you choose to close your loan before the end of the loan tenure. However, foreclosure charges will be waived if you have purchased Safe Pay along with your loan.

How is the foreclosure charge calculated?
Foreclosure fees, as given in the fees and charges section of the product will charged on the outstanding principal, as a foreclosure amount if you decide to close your loan before the end of the loan tenure.

How can I foreclose/close my loan early?
Please contact our customer care number at 0124-6628888 to check the loan foreclosure eligibility. You can also email us at care@homecredit.co.in with your contract number and registered mobile number for your foreclosure request.

I have Safe Pay do I need to pay foreclosure charges.
Foreclosure charges are waived in case you have Safe Pay.

When Can I Foreclose my loan?
You can foreclose your loan anytime during the loan tenure after paying the outstanding loan amount and foreclosure charges.

I have made the payment for my loan with the wrong contract number. How can I rectify this error?
Please share your payment receipt at care@homecredit.co.in , along with the correct and incorrect contract numbers. After receiving these details, it will take 3 working days to rectify the error.

Can I pay my monthly installment in advance through any other repayment channel?
If you want to pay your monthly installment in advance before the due date, you are requested to make payment at least 5 days prior to the due date. Also, inform the company through "contact us" options and provide proof of payment (a payment receipt or transaction number). If you fail to do so, the mandate will be presented by the company for the respective month(s).

I have made an additional payment this month; how can I request a refund?
The additional amount that you have paid will be offset against the upcoming installment. If you wish to initiate a refund, please register your request by emailing us at care@homecredit.co.in. We will ensure a response within 48 hours. Alternatively, please feel free to get in touch with a Home Credit representative through the chat option on our website or mobile app, our representatives are available to assist you from 9:00 a.m. to 7:00 p.m.

How is the foreclosure charge calculated?
Foreclosure fees, as given in the fees and charges section of the product, will be charged on the outstanding principal, as a foreclosure amount.

When will late payment charges be levied on my loan?
Late Payment charges will be levied if the EMI amount is not paid on or before the due date.

What is a Late Payment Charge?
Late Payment Charge is levied on the overdue amount in case a customer does not pay the monthly installment on or before the due date.

Why was my monthly installment debited from my bank account despite being pre-paid for the respective month(s) through an alternative repayment channel?
Once the mandate is presented for the respective month(s), the monthly installment amount will be deducted from your bank account on the scheduled due date. Even if you have already made an advance payment through any other repayment channel within two days before the due date, the amount deduction will still occur, as the mandate presentation process is initiated with the bank two days before the due date. Any excess amount resulting from this overpayment will be adjusted against your dues for the next month, or you can request the company for a refund of the excess amount paid by you. In case there is insufficient fund in your bank account, bounce charges are levied by your bank. The company will not be liable to refund these charges, as they are in accordance with your bank’s policy. If your bank rejects the payment mandate, the company reserves the right to represent the mandate for clearance on a later date within the same month. For any help, please feel free to get in touch with us using any of the options provided in our "contact us" section.

When is the mandate presented for my monthly installment (EMI)?
As per the process, the monthly installment is presented for payment two days before the due date. For example, if your due date is January 5, 2023, the presentation of mandate will take place on January 3, 2023. However, the amount will be debited from your bank account on the due date. If there are insufficient funds in your bank account, your bank may impose bounce charges. Please note that the company will not be liable for refunding these charges, as these are levied as per your bank’s policy. If your bank declines the payment mandate, the company reserves the right to represent the mandate for clearance on a later date within the same month.

How are Special Mention Accounts (SMA) categories classified?
The basis for the classification of SMA categories shall be as follows:

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

Example: If the due date of a loan account is March 31, 2023, and full dues are not received before the lending institution runs the day-end process for this date, the date of overdue payments shall be March 31, 2023. If it continues to remain overdue, then this account shall get tagged as SMA-1 upon running the day-end process on April 30, 2023, 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, 2023.

Similarly, if the account continues to remain overdue, it shall get tagged as SMA-2 upon running the day-end process on May 30, 2023, and if it continues to remain overdue further, it shall get classified as NPA upon running the day-end process on June 29, 2023.

When is the upgrade done for the accounts classified as NPAs?
The loan accounts classified as NPAs can be upgraded to 'standard’ assets only when the borrower has paid the entire outstanding interest and principal amount in arrears.

Can existing mandates be amended? 
Yes, you can amend existing mandates on our website by selecting the option to edit your Auto Debit mandate. You can easily link your new bank account using authentication methods such as Net Banking, Debit Card, or UPI. The new details will replace the old ones, and you’ll be all set!

How can I cancel my Auto Debit mandate via Home Credit’s website? 
You can easily cancel the existing Auto Debit mandate on our website by following few simple steps:

1. Go to Loan Management tab and click on “Register for Auto Debit” 
2. Enter your Registered Mobile Number with Home Credit and authenticate with OTP 
3. You may be requested to enter your PAN Card Number for verification purposes, which is mandatory. Date of Birth may also be required
4. Once you have successfully logged in, you will be able to see your loan contracts with Home Credit along with their Auto Debit mandate status
5. To cancel an active Auto Debit mandate, click on “Cancel Registration” to proceed. Please note, if your Personal loan, Ujjwal EMI card, or Flexible Personal loan is active, you must set up a new Auto Debit mandate before canceling the old one
6. You will see your loan contracts which have an active mandate, and you may select the one you wish to cancel. 

We recommend that you do not cancel an Auto Debit mandate for an active loan to avoid missing your loan repayments. Home Credit only charges the customers via Auto Debit if they have any loan dues and not otherwise. 

What is Auto Debit?
Auto Debit is a service that enables the automatic payment of your loan installments from your bank account on the due date. Once you opt for this facility, your bank account will be debited on the payment due date, and the corresponding amount will be credited to your loan account.

What are the benefits of Auto Debit facility?
Once you apply for this facility, you no longer need to process your monthly payments manually. Home Credit shall automatically debit your bank account and process the payment to your loan account. Please ensure you maintain sufficient funds in your bank account, as the Auto Debit request is initiated two days before your payment due date.

What information do I need to setup an Auto Debit mandate?
To setup an Auto Debit mandate, you will need to provide your bank account details. Please ensure your bank account is active, at least 6 months old, and has sufficient funds for the transaction.

How long does it take to setup an Auto Debit mandate?
Setting up an Auto Debit mandate typically takes 2-3 business days. Once the setup is complete, you will receive a confirmation notification.

How long does it take to cancel an Auto Debit mandate?
Cancelling an auto debit mandate generally takes 1-2 business days. You will receive confirmation once the cancellation is processed.

Can I cancel the Auto Debit mandate for my active loan?
Auto Debit is a mandatory requirement for managing your active loan with Home Credit. This ensures timely and hassle-free payments, that helps you avoid late fees and maintain a good credit score.

Will I be charged any fees for cancelling an Auto Debit mandate?
No, Home Credit does not charge any fees for cancelling an Auto Debit mandate. However, please ensure that alternative payment arrangements are made to avoid any disruption in your loan repayment schedule.

Why do I need a Credit Score?

Keeping track of your Credit Score helps you stay prepared for future loan requirements. With Home Credit India, you get access to a detailed Credit Health Report and expert credit improvement services through our trusted partner, CreditMantri, for a small fee. A good credit score can significantly improve your loan eligibility and financial opportunities.

What are the benefits of a Credit Health checkup?

With Home Credit India's Credit Health Checkup, you can:

1. Get monthly updates on your credit activities
2. Track your credit inquiries
3. Identify errors, frauds, and account misuse (if any)
4. Get expert tips on how to improve your credit score
5. Get in-depth account level insights on positive & negative credit accounts
6. Access personalized recommendations for credit cards and loans
7. Monitor missed/delayed EMIs and credit card bills
8. Keep track of spends and manage your finances better

Will I get the Credit Health Report only once a month?

Yes, your Credit Health Report is generated monthly. However, you can download your latest report or previous reports anytime by logging into your dashboard.

What is the cost of Credit Health Report?

Our Credit Health Report is available as a yearly package, where you receive 12 monthly reports in a year, at less than ₹2 per day. Our plans start at just ₹499 per year.

How can I quickly check my Credit Score?

You can get your Credit Score in 3 simple steps:

1. Mobile verification- Enter your mobile number
2. Identity verification- Fill in your personal details like PAN, email ID, Date of birth, etc.
3. View Credit Score & Profile- View your Credit Score & assess your credit profile.

What role does Home Credit India play?

Home Credit India, in partnership with CreditMantri, brings you an easy and reliable way to monitor your credit health. Our collaboration ensures that you can check your Credit Score effortlessly and take the right steps to improve your loan eligibility.

Can I cancel my subscription midway?

No, once you sign up, you will continue receiving 12 monthly reports. However, at the end of the annual subscription period, you can choose whether to renew the plan.

How can I pay for the Credit Health Report?

We offer multiple payment options like credit/debit cards, net banking, UPI, and mobile wallets. Choose the payment method which is most convenient & faster to you.

Is my data safe?

Yes, your data is 100% safe with Home Credit India. We do not share your data with third-party lenders; other than lenders you have consciously picked.

Which credit bureau is used for the Credit Health Report?

Our partner, CreditMantri, utilizes data from Equifax, one of India's top four authorized credit bureaus, to provide accurate and reliable credit insights.

How can I check my contract payment status or disbursement report?
You can check your contract payment status or disbursement report through the below steps:

• Login to our Partner Portal page using your HOMER ID & Password.
• Once you have logged in successfully, click on ‘My Reports’ and then navigate to “Contracts Report”.
• Then you have to choose the date range as per the creation date of the contracts and then click on the ‘Search’ button.
• Now, select the ‘Download the Contract Wise Payment Status’.
• Now just click on ‘Export to Excel’ button available on the top right corner to download your disbursement report.

How can I check contract error or contract status?

You can check the contract error or status of your contract through the below steps.
•    Login to our Partner Portal Page using your HOMER ID & Password.
•    Once you have logged in successfully, click on ‘My Reports’ and then navigate to “Contracts Report”.
•    Then you have to choose the date range as per the creation date of the contracts and then click on ‘Search’ button.
•    Now, select ‘check Errors Status of your contracts’.
•    Click on active column to check contract activation status.

How can I reset HOMER Password?

To reset the password for HOMER Application ID, please open the webpage

• Now enter your Username and then please click on the 'Forgot Password' option
• Enter the security code received on your registered mobile number
• Now you can choose your new password as per the instructions mentioned and click on Submit button

How can I find details of Home Credit’s District Sales Manager?

Please reach out to us on our Partner Helpline at 1800-419-6660 to get details about our District Sales Manager