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Press Release

Home Credit India's Online Personal Loans to Help Customers Access Credit Instantly

- Avail loans ranging from Rs. 1,000 to Rs 10,000

- Loan approval in real-time within 10 minutes

- Simple application procedure with no collaterals required

Gurgaon, July 18, 2017: Expanding access to credit for technology savvy and mobile population and bringing a transformation in the small ticket size personal loan market, Home Credit India Finance Pvt. Ltd, one of India's fastest growing non-banking financial company (NBFC), has launched an innovative and one of its kind online Mini Cash Loan across the country.

Targeted at customers who require a small loan to fulfill an urgent need or buy a product that has been on their shopping list, the Mini Cash Loan enables eligible applicants to borrow any amount ranging from Rs 1,000 to Rs 10,000.A differentiating feature of these loans are that they are approved within 10 minutes of completing an online application form. In just a few steps, a customer can avail an instant cash loan without speaking to a loan advisor or visiting a branch and no physical signatures. The loan is disbursed directly into a customer's account within a day through RTGS and NEFT electronic payment systems.

The only document that a customer requires while applying for this loan is an Aadhaar card. Only in cases where the current address is different from the one mentioned on the Aadhaar card, the customer will be required to submit an address proof. These real time small ticket size smart loans are designed keeping in mind the ease of application and quick approvals. Since its launch, there have been around 58,000 registrations for the Mini Cash Loans.

With the launch of this new loan, Home Credit India has become one of the few consumer finance firms in India to offer such a product. The Mini Cash Loan is available to all and not just the existing customers of Home Credit India. The applicant needs to be a salaried employee, self-employed or a pensioner. The complete process of applying, approval and disbursal of mini cash loan is available at Cash Loan

Speaking on the potential of the new loan product, Mr. Tomas Hrdlicka, Chief Marketing Officer, Home Credit India said, "We are constantly investing and innovating in technology at Home Credit India to ensure that we provide to the market products that are easy, simple to understand and require minimum documentation. The biggest advantage of applying for an online personal loan is convenience and hassle-free experience, something that the customer of today wants. The Mini Cash Loan is part of our digital strategy to offer technology driven and latest financial products that provide an intuitive and seamless experience to customers".

Home Credit India has been at the forefront of redefining customer experience through innovative products and services. The company recently launched a Mobile App that provides the customers access on the go to his/her loan details, repayment schedule and information on the due amount.

About Home Credit India:

Home Credit India Finance Pvt. Ltd. is a leading consumer finance provider that is committed to drive credit penetration and financial inclusion by offering financial solutions that are simple, transparent and accessible to all. One of India's leading Non-Banking Financial Companies (NBFCs), Home Credit India has its operations in 77 cities across 15 states in the country. The company has a strong network of over 10,000 Points-of-Sale (PoS) where it services nearly 3 million customers through an employee base of over 16,000 as of date. Home Credit India has been recognized by Aon Hewitt as a Regional AON Best Employer 2017 for employer excellence.

About Home Credit Group B.V.:

Home Credit India is part of Home Credit B.V.,an international consumer finance provider with operations in 11 countries where there is high potential to grow. Founded in 1997, we focus on responsible lending primarily to people with little or no credit history. Our services are simple, easy and fast. We operate in highly attractive markets with significant barriers to entry. We are a leading provider of consumer finance in selected countries. It is our experience and knowledge across the different markets, which sustainably puts us ahead of our competitors. We drive and broaden financial inclusion for the unbanked population by providing a positive and safe borrowing experience – the first for many of our customers. We promote higher living standards and meet borrowers' financial needs. Our 135,500 employees have so far served over 76 million customers through the vast distribution network comprising 308,703 points of sale, loan offices, branches and post offices. HCBV's total consolidated assets reached EUR 15.9 million as at 31 March 2017.
More information on Home Credit India is available at www.homecredit.co.in
More information on HCBV is available at www.homecredit.net

For more information, contact:
Sankalp Saini
Communications & PR
Home Credit India Finance