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How can I get a Mobile Phone Loan 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:
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 -12 months.
What documents are required to apply for Ujjwal EMI Card?
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:
Address Proof (Any one of these):
*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 545 cities and has partnered with 50,000+ merchants in these locations. Click here to see the list of cities.
What is the Gift Pay offer provided by Home Credit India?
Gift Pay is an offer on select products, where the last EMI is waived off if customers pay all previous instalments on or before the due date.
Is Gift Pay applicable in case I opt for Payment Holiday during my loan term?
Yes, Payment Holiday has no impact on Gift Pay. Payment Holiday will extend your loan term by a month, and 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 Gift Pay offer?
The loan contract will be automatically finished 6 days after the payment of your second-last EMI.
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:
How can I get a Home Appliances Loan 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:
What documents are required to apply for Ujjwal EMI Card?
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:
Address Proof (Any one of these):
*Conditions apply. Home Credit India reserves the rights to call upon additional documents, if required.
What all products are available on EMIs?
What is the loan amount I can avail to get 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 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 24 months.
Where can I buy a Home Appliance on EMIs from Home Credit?
Home Credit India is currently in 545 cities and has partnered with 50,000+ 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:
What is a Personal Loan?
A personal loan is a loan that does not require any collateral or guarantor and can be availed with only 2 documents. You can avail a Personal Loan from Home Credit India of up to Rs. 5,00,000 to meet your current financial needs and use it to pay for your immediate needs like medical emergencies, home renovation, wedding, or for any other unplanned expenses.
What are the eligibility criteria for a personal loan?
With our simple and easy eligibility almost anyone can apply for a personal loan. You are eligible to apply for a Home Credit Personal Loan if you meet the following criteria:
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:
Address Proof (Any one of these):
List of acceptable documents for New to Home Credit Customers:
ID Proof:
Address Proof (Any one of these):
*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?
|
Minimum Loan Amount |
Maximum Loan Amount |
Existing Home Credit Customers |
₹ 10,000 |
₹ 5,00,000 |
New to Home Credit Customers |
₹ 25,000 |
₹ 2,00,000 |
What will be the tenure for availing a Personal Loan?
|
Minimum Tenure (months) |
Maximum Tenure (months) |
Existing Home Credit Customers |
9 |
60 |
New to Home Credit Customers |
6 |
36 |
How can I apply for a personal loan with Home Credit?
Existing Home Credit Customer
Existing Home Credit customers can check their pre-approved loan offers on ‘Home Credit: Loan, Emi, Deals’ App and apply for the loan on the App itself. Our sales representatives will get in touch with eligible customers as and when loan offers are available for them.
New Home Credit Customer
New customers can now avail personal loan of up to 2 lakhs on our mobile App. Just download ‘Home Credit: Loan, Emi, Deal’ App and follow the instructions given on App to apply for the loan.
It is mandatory for New Customers to have net banking facility on their active bank account to apply for a Personal Loan.
You can also chat with us on our mobile App between 9:00 am and 7:00 pm for more details.
Can I choose the loan amount and tenure of my loan?
Yes, the loan amount and tenure can be selected by customer based on the eligibility criteria defined by Home Credit India
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 Mobile App.
What is Penal Charges?
Penal Charges is levied on the overdue amount 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 the status on the Home Credit Mobile App. The loan amount usually gets disbursed into your bank account within 5 working days from the day of successful Auto Debit setup.
You can also contact us at 0124-6662-8888 or chat with us on our mobile App between 9:00 a.m. and 7:00 p.m. Alternatively, you can write to us at care@homecredit.co.in with your query, and we will revert 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:
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.
What is Ujjwal EMI Card?
Ujjwal EMI Card is a digital card with an instant pre-approved credit limit up to Rs. 75,000, which allows you to convert your purchases into EMIs.
What is the eligibility criteria to apply for Ujjwal EMI Card?
You need to meet the following criteria to apply for Ujjwal EMI Card:
What documents are required to apply for Ujjwal EMI Card?
To apply for Ujjwal EMI Card, you need to provide one ID proof and one current address proof.
List of acceptable documents
ID Proof:
Address Proof (Any one of these):
*Conditions apply. Home Credit India reserves the rights to call upon additional documents , if required.
How can I apply for the Ujjwal EMI Card?
You can easily apply for Ujjwal EMI Card by visiting any of our partner stores. You will be given an Ujjwal EMI Card limit which you can use to buy any of your favorite products on easy EMIs. Locate a partner store now!
You can also download the Home Credit—Loan, EMI, and Deals app and explore various loan offers on the app, including Ujjwal EMI Card. Once you have an active Ujjwal EMI Card limit, it will be applicable for buying any of your favorite products on easy EMIs at our partner stores. So, start your application now, and don't delay your shopping anymore!
How can I use my Ujjwal EMI Card?
Home Credit Ujjwal EMI Card gives you the flexibility to purchase your favorite products at no-cost EMIs.
Where is the nearest Home Credit partner shop?
Home Credit gives you the option to shop for your favorite products across 53000+ partner shops. To find a store near you, click here.
What documents are accepted as address Proof?
The following document are accepted as valid address proof
*Conditions apply. Home Credit India reserves the right to call upon additional documents at its discretion.
Is there any processing fee? How much is it?
A nominal processing fee is charged when you use your Ujjwal EMI Card to purchase any product on EMIs. The processing fee varies from product to product. We have many products on which no processing fee is charged. The exact processing fee will be communicated at the time of making a transaction using the Ujjwal EMI Card by the loan experts at partner shops.
How long does it take to activate the Home Credit Ujjwal EMI Card?
The Home Credit Ujjwal EMI Card is activated instantly upon receipt of complete documents, and once the auto debit is set up by the customer.
Can I apply for a physical card?
Home Credit does not issue a physical card. The Ujjwal EMI Card is a digital card that offers an instant pre-approved credit limit. You can access your Ujjwal EMI card number and limit details on the Home Credit mobile app. To utilize your Ujjwal EMI Card for shopping, you just need your Ujjwal EMI Card number, which is available on the Home Credit app.
What is the tenure of the loan taken via Ujjwal EMI Card?
There are several tenure options, starting from 1 month to 12 months, while buying something on easy EMIs using the Ujjwal EMI Card. These options will be made available to you at the time of the transaction as part of the loan details.
Can I buy multiple products in a single transaction?
You can use your Ujjwal EMI Card to make multiple transactions if you have an available Ujjwal EMI Card limit and an available monthly installment limit. The monthly installment limit is the maximum monthly bill that can be generated for a customer.
How will I repay the EMIs when I purchase products using the Ujjwal EMI Card?
A monthly bill will be generated, which will include all the EMIs related to the Ujjwal EMI Card for all transactions done so far. The bill will also include any fees and charges that are applicable. The monthly bill will be generated 15 days before your due date and will be emailed to you. The monthly bill can also be accessed via the Home Credit Mobile App.
My due date is within 30 days of making a purchase using my Ujjwal EMI Card. Why is this so?
The Ujjwal EMI Card works on a fixed billing cycle. If you make a transaction before the next monthly bill is generated, then your installment will be due on the upcoming bill. However, if your transaction is made after the monthly bill has been generated, then your installment will be due with your next monthly bill. The monthly bill is generated 15 days before the due date. The due date and billing cycle for the Ujjwal EMI Card remain fixed.
In what situation can the Ujjwal EMI Card limit get blocked?
The Ujjwal EMI Card limit gets blocked in the following scenarios:
Please note that Home Credit India reserves the right to issue or block the Ujjwal EMI Card limit as per its internal credit policy.
Can I extend or change the EMI tenure after the transaction?
There is no option to change the EMI tenure once the transaction is finalized. However, Home Credit gives customers the flexibility to choose their tenure before finalizing the transaction. In case you have opted for any Safe Pay service along with your loan transaction, you can avail of the Payment Holiday feature and skip an EMI payment. This will increase your overall tenure by 1 month.
What is the payment holiday?
Payment holiday allows customers to postpone their monthly bill by one month. It can be availed after paying the first two EMIs on or before the due date.
What should I do if my monthly bill is incorrect?
In case of any issue with your monthly bill, you can reach out to us via chat on the Home Credit mobile app or website. You can also email us the issue using your registered email ID, along with your Ujjwal EMI Card number, at care@homecredit.co.in. You may also connect with Home Credit customer care at 0124 662 8888 to understand the details of your monthly bill or raise a complaint.
What should I do if my Ujjwal EMI Card is misused?
In case of any suspicious activity, just connect with Home Credit Customer Care at 0124 662 8888 to block your card immediately.
How do I block my Ujjwal EMI Card?
Just connect with Home Credit customer care at 0124 662 8888 to block your card immediately.
Can I increase or decrease the limit after getting an Ujjwal EMI Card?
We periodically assess and increase your Ujjwal EMI Card limit in line with our credit policy. However, we do not accept customer requests for an increase or decrease in the limit post-issuance. You may decide your Ujjwal EMI Card limit, subject to credit policy, at the time of taking the card.
Do I need to make a down payment?
The downpayment amount varies for different products. For more details, please contact our loan expert at your nearest Home Credit partner shop.
Is the Ujjwal EMI Card a credit card?
The Ujjwal EMI card is not a credit card. It is a credit limit that allows you to convert the cost of your purchases into easy EMIs with no documentation.
What is a monthly installment limit?
The monthly installment limit is the maximum amount that a customer is allowed to pay as installments every month. The sum of your installments for all transactions should not exceed the monthly installment limit.
I have a limit available on my Ujjwal EMI Card, but I am not able to use the limit for any transaction.
If your maximum monthly installment limit is breached, you will not be able to take out further loans. If you have an available limit on your Ujjwal Card, try to increase the loan tenure so that your monthly installment limit is not breached.
Which Value Added Services are offered with Ujjwal EMI Card?
When you use your Ujjwal EMI Card limit to buy any product on EMIs, you can choose from the following value added services and add them to your loan:
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 of the 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 Mobile Phone 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 within the 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 is Mobile Protect?
Mobile Protect is a value-added service offered by Home Credit with the Mobile Phone on EMI.
What are the benefits offered under the Mobile Protect plan?
Mobile Protect covers repair and replacement of the device in case of accidental and liquid damage in the first year of purchase.
Are there any charges to avail Mobile Protect plan?
Yes, a nominal charge is to be paid to avail of the Home Credit Mobile Protect plan.
Can we consolidate mobile protect charges in EMIs?
Yes, Mobile Protect charges can be added to the mobile phone value and can be easily paid as part of EMI.
What are the services offered under Mobile Protect?
Mobile Protect covers the following services.
• Hassle-free, cashless repair in case of any accidental breakage and/or liquid damage.
• Free pick-up for repair at your convenience.
• Complete repair of mobile devices up to the invoice value.
• Device replacement without depreciation for irreparable devices.
• 24/7 repair request registration.
How many repair requests are allowed under Mobile Protect?
Under the Mobile Protect plan,2 repair requests are allowed during the plan period. The maximum time frame for each repair is a maximum of 14 working days.
How can I avail of the benefits offered under the Mobile Protect Plan?
You can avail the Mobile Protect services in two simple steps:
• Step 1: Register your repair request 24*7 on call or through online mode.
• 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.
How much time will it take to repair and dispatch the device?
The mobile device will be repaired and dispatched back to you within 14 working days.
How can I register my grievance in case of unsatisfactory services?
In case, you do not get a swift resolution to your complaint from an authorized partner, you can write to us at care@homecredit.co.in. We will revert back to you within 48 hours.
What is Safe Pay?
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.
What are the benefits offered under Safe Pay Service?
Safe Pay offers three services which are as follows:
How many times Payment Holiday Service can be availed during loan tenure?
Payment Holiday benefit can be availed twice in a year. You are required to pay at least two EMIs between two Payment Holiday Services.
Does the Payment Holiday Service affect the loan duration?
Yes, each time you avail of the Payment Holiday Service, the loan term is extended by one month.
How can I claim the Safe Pay insurance amount?
In order to claim Safe Pay Insurance benefit, your nominee can contact us at care@homecredit.co.in and we shall help him/her with the next steps. To know more click here
What is the ScreedGuard Plan?
The ScreenGuard plan is an exclusive phone screen protection plan to cover the cost of repairing the damaged mobile phone screen.
What is the validity period of the ScreenGuard Plan?
Your Screen Protection Plan is valid for a period of 12 months from the date of plan activation.
Does ScreenGuard Plan provide the post-repair guarantee?
Yes, 90 days extended post-repair is provided under ScreenGuard Plan.
How much time will it take to repair and dispatch the device?
The damaged mobile screen will be repaired and dispatched back to you within 14 working days.
How can I avail mobile phone screen repair service under the plan?
You can register your requests online or on-call 24*7. You then will be required to submit the necessary documents and service free. Once your request is registered and processed, pick-up will be scheduled by an authorized service provider.
Can I track phone screen repair status?
Yes, navigate to the ScreenGuard page on the Home Credit website, click on chatbot link>choose language>choose ‘know your status’>Enter Mobile Number/IMEI.
Does ScreenGuard Plan cover any other damages to the phone?
No, any damage to the mobile device other than the damaged screen is not covered under ScreenGuard Plan.
Do I have to pay any fees to avail the service?
You need to pay a service fees when you request for a screen replacement
What is the Extended Warranty?
Extended Warranty Plan is a value-added service which customers can opt for while taking a consumer durable loan from Home Credit.
When does the Extended Warranty period start?
The extended warranty period commences upon the expiration of the manufacturer’s warranty.
How can I avail benefits under Extended Warranty?
Extended warranty services can be availed by registering on-call or online 24*7. Follow these simple steps to register your repair request
A verified technician will visit and provide the repair services at the scheduled time.
Do I have to pay any charges for the repair services?
No, it’s completely a cashless process; you don’t have to pay any amount.
What is not covered in extended warranty?
What are the accepted payment modes for the home credit loan repayment?
You can make payments 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, or UPI. Alternatively, you can use any of the leading payment apps like Paytm, Phonepe or GooglePay to pay your Home Credit loan installments. You can also deposit cash at the listed ICICI Bank, Axis Bank, and Airtel stores.
How can I set up Auto Debit as my repayment method?
You are required to register for standing instructions via Netbanking or a debit card. To register, please click here.
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 appunder 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) 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, 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.
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 has not been debited from my account.
The installment due amount 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 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.
How can I foreclose my loan?
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 for your foreclosure request.
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.
When will late payment charges be levied on my loan?
Late payment charges will be levied if the EMI amount is not paid by the due date.
What is penal charges?
Penal Charges 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:
Loans other than revolving facilities |
Loans in revolving facilities like cash credit/overdraft |
||
SMA Sub-categories |
Basis for classification – Principal or interest payment or any other amount wholly or partly overdue |
SMA Sub-categories |
Basis for classification – Outstanding balance remains continuously in excess of the sanctioned limit or drawing power, whichever is lower, for a period of: |
SMA-0 |
Up to 30 days |
||
SMA-1 |
More than 30 days and up to 60 days |
SMA-1 |
More than 30 days and up to 60 days |
SMA-2 |
More than 60 days and up to 90 days |
SMA-2 |
More than 60 days and up to 90 days |
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.
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:
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
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
What is a Flexible Personal Loan?
Flexible Personal Loan offers you flexible credit limit, from which you can withdraw any amount starting ₹5000, into your bank account, any time you want. You can use this limit for various purposes like medical treatment, home renovation, travel, wedding and/or any other financial requirement.
What are the eligibility criteria for a flexible personal loan?
To apply for a Home Credit Flexible Personal Loan, you should:
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
How can I apply for a flexible personal loan?
You can apply for a flexible personal loan very easily through our Home Credit: Loans, EMI, Deals app. The process is fully online and can be done from the comfort of your home. Just follow the following steps:
What is the minimum amount I can withdraw from my flexible credit limit?
You can withdraw an amount starting from ₹5000 from your flexible credit limit. The maximum amount you can withdraw cannot exceed your available flexible credit limit.
How can I make a withdrawal?
You can withdraw from the flexible credit limit through the Home Credit App by following the below-mentioned steps:
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. A flexible personal loan can later 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.
Can I choose the limit amount for my flexible personal loan?
Yes, Home Credit allows you to choose the flexible credit limit from ₹10,000 up to the maximum offered limit.
What documents are required for a Flexible Personal Loan?
A Valid PAN Card, an Address proof and proof of an active bank account are required to apply for Flexible Personal Loan.
How is a flexible personal loan different from a personal loan?
Flexible personal loans are different from personal loans in the following ways:
How long does it take for the Flexible Personal Loan application to get approved?
It takes a few minutes to get online approval for your flexible personal loan application. All you need to do is meet the eligibility criteria and provide the details required in the application form available on our mobile app.
Do I need to pay a fee to apply for a flexible personal loan?
No, Home Credit does not charge any origination fee for flexible personal loan. This means that you can get a flexible limit at no cost until you withdraw an amount into your account.
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.
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 will be 3% of the outstanding principal + applicable interest on the amount utilized, or Rs. 2500, whichever is higher. It is mandatory to pay the monthly bill 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 you have additional funds with you.
When would the late payment charges be levied?
Late payment charges will be levied on your total outstanding 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.
Can someone with no credit history apply for a flexible personal loan?
Yes, a person with no credit history can also apply for a Home Credit Flexible Personal Loan. To apply for a Home Credit Flexible Personal Loan, you should:
Can a retired person also apply for a flexible personal loan?
Yes, a pensioner can also avail of a Home Credit Flexible Personal Loan if they meet the minimum eligibility criteria.
Can an existing Home Credit customer also apply for a flexible personal loan?
Yes, existing Home Credit customers can also apply for a flexible personal loan product if their current contracts are not delinquent. Also, there should be a 90-day gap between two home credit loan applications.