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Equated Monthly Instalments (EMI) is a monthly liability on the borrower. Before applying for the loan, check for repayment options and analyze your monthly budget to ensure smooth and timely repayment
Calculate your EMI
In order to ensure quick processing of your loan, it is recommended to keep your documents ready. Lenders often ask for identity proof, address proof, income proof, banking statements and other such documents to determine your eligibility for the required loan
Check your eligibility
Credit Score is a 3-digit number that is derived using your financial transactions, repayments, applications, credit cards, loan accounts etc., irrespective of the financial partner or bank. Financial institutions consider credit score to be a key parameter in deciding a customer’s loan eligibility. Home Credit is one of the few service providers which also caters to first-time buyers.
Check your eligibility
While interest rates & EMIs are important, it is equally important to engage a financial partner that offers great customer service & ease of repayment & account Management.
See all Home Credit Advantages
Assess your financial partner on the ease of loan taking process, interest rates, hidden charges, facilities & benefits. Choose a partner that gives you the flexibility to maintain a positive credit history. It is especially important for first-timer buyers. Home Credit offers loans to customers without credit history and offers flexible payment options, reminders and trial period to help build a good credit score for first-time buyers
While you apply for the loan, do not forget to take all loan related documents including loan agreement, repayment schedule, purchase invoice etc. Always read the fine print and clauses in the loan agreement
In case of Personal Loans, cross-check the total amount reflected in your account with the agreement to ensure that there are no hidden charges added during the disbursal stage
Check the due date for the ECS (Electronic Clearance System) auto debit of funds from your bank account. Ensure that your bank account is sufficiently funded to honour the ECS. Return and late payment charges can result in additional penalties on the customer. Home Credit sends regular updates and reminders to its customers on upcoming EMIs and repayment schedule
On Completion of the loan repayment schedule, Finance partners should issue a letter of completion and transfer certificate of your purchase, making you the legal owner of the product.
EMI or Equated Monthly Instalment is the amount that a borrower pays to the lender as part of loan repayment. Each monthly instalment comprises of the principal loan amount as well as an interest component and any other applicable fee or charges.
Home Credit Mobile App is a one stop solution for all your loan related requirements. With the help of this app you can apply for loans, instantly know your loan details, due amount and make payments in quick & easy steps
You can login to the App in below steps:
