Home Credit Cash Loan Reviews (2024) Calculator? Requirements

Are you curious about Home Credit cash loan reviews, its interest rates? Wondering how to calculate the cost of your loan? Or perhaps you want to know the latest requirements? You’re in the right place!

At retailasiaonline.com, we’ll provide comprehensive reviews, insights into interest rate calculator, and the latest requirements to help you make informed financial choices.

Let’s dive in!

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Summary of Home Credit Cash loan

✅ Reviews	⭐ Home Credit cash loan
✅ Loan amount	⭐ ₱3,000 – ₱150,000
✅ Age	⭐ 18 – 60 years old
✅ Term	⭐ 6 – 60 months
✅ Interest rate	⭐ From 1.83% per month
✅ Requirements	⭐ Two legal IDs
✅ Pros	⭐ Quick loan approval
✅ Cons	⭐ Risk of debt trap
✅ Evaluate the effectiveness	⭐ Good
✅ Complaints	⭐ No
✅ Legit	⭐ Yes
✅ Phone number	⭐ (+632) 8708-7087
✅ Home Credit app download apk	⭐ Link here

What is Home Credit cash loan?

Home Credit cash loan is a financial service offered by Home Credit, a global consumer finance company. This service allows individuals to borrow money for various purposes, such as personal expenses, emergencies, or purchases, and repay it over time. This lender provides cash loans with a simplified application process, often with minimal documentation requirements.

Pros of Home Credit loan cash app

Home Credit cash loan first time gives its customers various benefits as follows:

• The availability of these loans makes it simpler for people with a limited credit history or low credit scores to secure financing.
• These loans have a quicker approval process than most bank loans, so customers can get their money sooner.
• It allows borrowers to select their own repayment schedule based on their individual budget needs.
• Most of them are unsecured, which means borrowers don’t need to put up any property as security.
• This lender allows cash withdrawals, giving cardholders access to liquidity when necessary at the cost of a per-transaction fee.

Cons of cash loan at Home Credit

Home Credit cash loan also comes with many drawbacks which are:

• Its loans typically have higher interest rates than conventional bank loans, which can increase monthly payments and the total cost of borrowing money.
• Home Credit may place limits on the total loan amount that can be borrowed by any one borrower.
• The risk of falling into a “debt trap” exists because it is all too easy to rack up debt when credit is readily available.
• Home Credit may apply additional fees and charges beyond the interest rate that will increase the overall cost of the loan.

Home Credit cash loan interest 2024

The interest rate for Home Credit cash loan first time in the Philippines in 2024 starts at 1.83% per month.

The actual interest rate you will be offered will depend on your credit score, income, and other factors.

You can use its loan calculator to estimate your monthly installment based on the loan amount and term you choose.

Example of Home Credit cash loan calculator

Home Credit is known for offering consumer-durable loans in the Philippines. For the sake of this example of Home Credit cash loan computation, let’s assume you want to take out a cash loan of PHP 40,000 that should be repaid in 24 months, with an interest rate of 34.99% p.a.

First, convert the annual interest rate to a monthly one. In this case, 34.99% p.a. is approximately 2.92% per month.

Apply the installment loan formula, which is (Pr(1+r)^n) / ((1+r)^n-1):

Where:

• P is the principal amount (i.e. the amount borrowed), which is 40,000PHP
• r is the monthly interest rate, which is 2.92/100 or 0.0292
• n is the loan term in months, which is 24

Plug these values into the formula, and you would get:

• Monthly payment = (PHP 40,000 * 0.0292 * (1+0.0292)^24) / ((1+0.0292)^24 – 1)

The monthly payment comes out to be approximately PHP 2,28

Keep in mind that Home Credit Philippines might have extra charges such as processing fees.

Home Credit cash loan maximum amount

A cash loan can be for as much as Php 150,000, but it depends on your income and credit background. Once you apply for a loan, the exact amount you can get will be decided.

You can get Home Credit cash loan application to find out if you qualify and how much you can borrow. You can also go to the store that’s closest to you.

Home Credit cash loan requirements

If you want to get a Home Credit cash loan in the Philippines, you must meet these conditions:

• Being a Filipino native between the ages of 20 and 68
• Get two legal IDs, and make sure one of them has your address on it.
• Show proof of your bank account if you want the money sent to your account.
• Don’t owe any money to Home Credit or any other banks or credit companies.
• Positive credit background is helpful.

How to apply for Home Credit cash loan?

To apply for a Home Credit cash loan, adhere to the following instructions:

Step #1: Launch the My Home Credit App

• Launch your app and sign in.
• Get it from the Google Play Store if it isn’t already installed on your mobile device.

Step #2: Navigate to Cash Loan

• Once you’ve arrived at the homepage, select the “Cash Loan” option to proceed.

Step #3: Choose your loan option

• Choose a loan amount and period that works for you.
• Select “Continue” once you’ve reviewed the information.

Step #4: Enter a loan application

• Fill out the Home Credit application.
• Provide your details and your only acceptable form of identification.
• You’ll double-check everything to make sure it’s perfect.
• You can now hit the “Submit” button.

Step #5: Loan Approval

• Check the progress of your application one to two minutes after submitting it.
• If your application was successful, the “Sign the Contract” button will appear on your screen.

Step #6: Home Credit cash loan disbursement

• Click the mentioned button to finalize your payday loan agreement.
• After you have completed the agreement, Home Credit will send you a text message with instructions on how to collect your loan funds.

Home Credit cash loan reviews

I would like to give my Home Credit cash loan reviews. When I’ve used this loan, the experience has been good.

The process for applying for an online loan at Home Credit is easy, and I was able to get cash quickly, usually within minutes, which is great. Their flexible repayment choices help me keep track of my money better, and I like that they are honest about their fees and interest rates.

Because I know how important credit is, I also like that Home Credit has helped me build or improve my credit score by telling credit companies about my payment history. For future financial needs, like getting a house or other loans, this can be helpful.

You can view some feedbacks from customers below:

Home Credit cash loan payment

The Filipinos can have access to cash loans via Home Credit. Note that Home Credit cash loan not paid will affect your credit score and more.

You can repay the loan from Home Credit in a number of ways:

#1. Over the Counter

Authorized payment partners accept payments for your cash loan in person.

• Step #1: Head on over to your go-to drug store. The number of their affiliates around the country is about 39,000.
• Step #2: At the checkout register, enter “Biller Name” as “Home Credit” and any other pertinent information. Drop the form off with the teller at the affiliated store.
• Step #3: After the agent hands you a receipt, double-check its contents. Your Home Credit payment has been processed successfully if all has gone according to plan. Within 24 hours, the payment should appear in the My Home Credit app.

#2. Online Payment

Home Credit provides online payment options for their loans. To make online payments, you can follow these steps:

• Step #1: Visit the official Home Credit website.
• Step #2: Navigate to the “Pay Loans” section and then “Pay Online”.
• Step #3: Choose the online payment option provided by Home Credit, which includes Maya, Shoppee,  CIMB, BPI Online, and among them.
• Step #4: Click “Learn more” below the payment option and follow the following prompts to pay your bill online.

Compare Home Credit cash loan app to others

Criteria	Home Credit cash loan app	Cimb Personal loan	Pag IBIG
Interest rate	Starting at 1.83% add-on rate	Starting at 1.12% per month	10.5% per annum
Loan amount	PHP 3,000 to PHP 150,000	PHP 30,000 to PHP 1,000,000	PHP 20,000 to PHP 2,000,000
Loan term	6 – 60 months	12 – 60 months	24 – 60 months
Processing time	Within 24 hours	Within 10 minutes	Within 20 working days

Sources: Refer to Sate Bank reporting and research.

Home Credit cash loan customer service

If you get Home Credit cash loan rejected, contact the following channels for help:

• Phone number: (02) 7753 5711 (Globe) or (02) 8424 6611 (PLDT), (+632) 8708-7087
• Email: info@homecredit.ph
• Address: 11th Floor, Vertis North Corporate Center Tower 1, North Ave, Quezon City, 1105 Metro Manila, Philippines

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FAQs – cash loan for Home Credit

Read the following FAQs about Home Credit cash loan and relevant answers to get more details:

Is Home Credit cash loan legit?

This type of cash loan is legit. As a licensed and regulated financial company, Home Credit Philippines offers this type of loan. Apply for this cash loan online or at any store that works with them. Simply fill out the registration form, and you may be approved in just one minute.

Can I loan cash in Home Credit?

Yes, you can loan cash in Home Credit. The minimum loan amount is PHP 3,000 and the maximum amount will depend on the offer given to you. The interest rate starts at 1.83% per month and the loan term is 6 to 60 months.

Where to claim Home Credit cash loan?

To claim this type of loan, visit a Home Credit branch or kiosk near you. You can also apply online through their website or mobile app. Make sure to provide the required documents and information for the loan application process. Approval and disbursement processes may vary by location and loan type.

How to cancel Home Credit cash loan?

To cancel this cash loan type, contact their customer service or visit their branch. You may need to provide reasons for cancellation, return any disbursed funds, and pay any applicable fees or interest up to that point. Ensure you review your loan agreement for specific terms and conditions related to cancellation.

Conclusion

Home Credit cash loans offer a convenient and flexible way to get quick cash when you need it. The interest rate is competitive, and the requirements are relatively simple.

However, it’s important to carefully consider your needs and budget before applying for any loan.

If you’re considering this cash loan, be sure to use the interest rate calculator on their website to get an idea of how much you’ll repay. You should also make sure that you can afford the monthly installments before you apply.