Life Insurance to cover loan outstanding in case of untimely demise
In case of an emergency postpone EMI payment by a month
Repay the loan anytime at no extra charge
Avail loans even if you’ve never taken one before
Get your Loan request approved instantly
Pay online, using the mobile app or via other payment modes
Complete transparency in terms and conditions
• Repay the outstanding loan amount anytime
• No pre payment penalty is charged
Safe Pay is a value-added service offered to Home Credit consumer durable and personal loan customers. It is a package that offers Payment Holiday, Free Early Repayment and Life Cover.
Safe Pay offers three services which are as follows:
Payment Holiday: Payment Holiday allows customers to postpone their EMIs by one month. It can be availed after paying the first two EMIs before the due date. You can avail a maximum of two Payment Holiday Services during the entire loan term. You are required to pay at least one EMI between two Payment Holiday Services.
Free Early Repayment: Early Foreclosure allows customers to foreclose their loan without any additional charges. Customers paying EMIs through direct debit mode are required to raise the foreclosure request 5 days before the next due date. Customers paying EMIs through any other method can raise foreclosure request anytime
Life Cover: This allows you to avail of 1.5 times and 1.25 times the loan amount for consumer durables loan and personal loan respectively as Life Cover. In case any unanticipated calamity befalls the customer, loan obligation is covered by the insurance and nominees of the borrower are entitled to the remaining Sum Assured amount."
You can avail maximum of two Payment Holiday Services during the entire loan term. You are required to pay at least one EMI between two Payment Holiday Services.
Yes, each time you avail of the Payment Holiday Service, the loan term is extended by one month