Home Credit BV is an international non-banking financial company inaugurated in 1997 in The Netherlands. The company offers its services in nine countries to people who have little to zero credit history. Today, the company serves 135.4 million customers through 324.7 thousand retail shops around the world. The company expanded to the Asian market in the 2010s. They have a substantial hold in China, India, Indonesia, the Philippines, and Vietnam.
The company is operational in Eastern Europe, Central Europe, Asia, and the United States. In 2019, the company’s operating income was € 4.249 billion with a net income of € 400 million. The company owns a total asset and equity of € 26.650 billion and € 2.873 billion, respectively. The company offers an instant loan of Rs. 5 lakh at 2% interest p.m. for 51 months. The company disburses the loan amount within a few hours of verifying the term agreement.
Home Credit loan amount offering
Firstly, home credit personal loans begin at 2% interest per month.
| Minimum Loan amount | Maximum loan amount | |
| Existing customer | Rs. 10,000 | Rs. 5,00,000 |
| New Customers | Rs. 25,000 | Rs. 2,00,000 |
Different types of Home Credit personal loans
Personal loan for travel
- Money for travel expenses
- Period: 6 months to 51 months
- Income: at least 10,000 per month
- Application procedure:
- Existing Home Credit customers can check their prerequisite loan offers on the Home Credit mobile application and can apply accordingly.
- New Home Credit customer can start their loan process via the Home Credit mobile application.
Personal loan for medical emergencies
- Money for medical expenses
- Period: 6 months to 51 months
- Income: at least 10,000 per month
- Application procedure:
- Existing Home Credit customers can check their prerequisite loan offers on the Home Credit mobile application and can apply accordingly.
- New Home Credit customer can start their loan process via the Home Credit mobile application.
Personal loan for wedding
- Money for wedding purposes
- Period: 6 months to 51 months
- Income: at least 10,000 per month
- Application procedure:
- Existing Home Credit customers can check their prerequisite loan offers on the Home Credit mobile application and can apply accordingly.
- New Home Credit customers can start their loan process via the Home Credit mobile application.
Personal loan for small or SME business
- Money to meet working capital requirements
- Period: 6 months to 51 months
- Income: at least 10,000 per month
- Application procedure:
- Existing Home Credit customers can check their prerequisite loan offers on the Home Credit mobile application and can apply accordingly.
- New Home Credit customers can start their loan process via the Home Credit mobile application.
Personal loan for home renovation
- Collateral-free financial arrangement for home renovation expenses
- Period: 6 months to 51 months
- Income: at least 10,000 per month
- Application procedure:
- Existing Home Credit customers can check their prerequisite loan offers on the Home Credit mobile application and can apply accordingly.
- New Home Credit customers can start their loan process via the Home Credit mobile application.
Personal loan for educational purposes
- Money to continue or start your educational journey
- Period: 6 months to 51 months
- Income: at least 10,000 per month
- Application procedure:
- Existing Home Credit customers can check their prerequisite loan offers on the Home Credit mobile application and can apply accordingly.
- New Home Credit customers can start their loan process via the Home Credit mobile application.
Personal loan for self-employed entity
- Money to expand or take care of outstanding business expenses
- Period: 6 months to 51 months
- Income: at least 10,000 per month
- Application procedure:
- Existing Home Credit customers can check their prerequisite loan offers on the Home Credit mobile application and can apply accordingly.
- New Home Credit customers can start their loan process via the Home Credit mobile application.
What is the eligibility criteria to apply for a personal loan at Home Credit?
- Residential status: Indian.
- Employment status: salaried individual, self-employed, or pension receiver.
- Individual age range: 19 to 68 years.
- Bank account status: must have a running bank account.
- Time difference between two home credit loans: 90 days.
Documents required to apply for a personal loan at Home Credit?
- PAN card
- Form 60 with passport, voter Id, and driving license – if you don’t have a PAN card
- Address proof –
- Voter Id card
- Driving license
- Passport or Government house allotment letter
- Property tax receipt
See also: Have Information about IFSC code Punjab National Bank
Home Credit loan fees and charges
| Processing fee | 0 – 5% | ||||||
| Annualized percentage rate | 24% and above | ||||||
| Post due dates | 1 day | 3 days | 60 days | 90 days | 120 days | 150 days | 180 days |
| Late payment charges | Rs 350 | Rs 450 | Rs 550 | Rs 750 | Rs 750 | Rs 750 | Rs 750 |
| Cumulative late payment charges | Rs 350 | Rs 800 | Rs 1350 | Rs 2100 | Rs 2850 | Rs 3600 | Rs 4350 |
What are the other services offered by Home Credit?
- Payment holiday: This service allows users to postpone their EMI payments during an emergency. Additionally, this late payment will not affect their CIBIL score.
- Free early repayments: A borrower can close their loan account at any time without incurring any extra cost.
- Life cover: Borrowers can choose a life cover of 1.25 times their loan amount to pay their outstanding EMI in case of death.