Curated tips to help you manage your loan conveniently

  • Plan your EMIs

    Plan your EMIs

    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
  • Documentation

    Documentation

    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

    Credit Score

    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
  • Customer care

    Customer care

    While interest rates and EMIs are important, it is equally important to engage a financial partner that offers great customer care, ease of repayment and account management

    see all home credit advantages
  • Choose a responsible financial partner

    Choose a responsible financial partner

    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

  • Loan Agreement

    Loan Agreement

    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

  • Loan Disbursal

    Loan Disbursal

    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

  • Due Dates

    Due Dates

    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

  • Loan Closure

    Loan Closure

    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

Glossary of Financial Terms

What is EMI/Monthly Instalment?

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.

What is Due Date?
What is the Loan Period?
What is Late Payment Charges?
What is Down Payment?
What is the Loan summary / Sanction letter?
What is Flat Rate of Interest?
What is the Contract number?
What is the Customer ID?
What is Outstanding Balance?
What is the Processing fee?
Direct Debit/ Electronic Clearing System (ECS)/ ACH

Frequently Asked Questions

How can I install Home Credit Mobile App?

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:

  • Download Home Credit India mobile app from Google Play Store
  • Launch the App and select         
    • Login with contract number if you are an existing Home Credit customer
    • Register and Apply If you have never availed any loan from Home Credit India

What is a Repayment Schedule and how do I get a copy of it?
Where can I find my contract number and customer ID?
How can I make my EMI payments?
I have opted for Direct Debit as repayment mode but EMI amount has not been debited from my account?
How can I find my due amount and next EMI due date?
I have already paid the EMI but the same is not reflecting in my account
I have made the payment for my loan in the wrong contract number. How can I rectify this error?
How do I change my EMI due date?
How can I change my repayment mode to Direct Debit?
What are the advantages of making payments on time?
I have paid extra amount this month, how can I get my refund?
When would I be levied late payment charges in my loan?
How can I foreclose my loan?
Is there any impact on my Credit Score if I foreclose my loan?
Is it mandatory to take Value Added Service with the loan?
How can I update my mobile number/email ID in your system?
How can I update my address in your system?
Can I update my Name or Date of Birth in your system?
When would I receive No Due Certificate for my loan?