Details about How Much Is Home Credit Cash Loan Interest Borrowers Must Be Aware Of
HOW MUCH IS HOME CREDIT CASH LOAN INTEREST – Here is a guide for the clients of Home Credit Philippines with regards to the offer.
Undeniably, there are countless lenders in the Philippines. You may turn to banks, small and big lending companies, and other financial institutions. However, most of the loan and financing services providers has a long list of requirements — except for Home Credit. That is why many people prefer its loans.
In most bank loans, a borrower has to meet the qualifications on the age, purpose of loan application, acquisition of a certain bank account, etc. He/She must also meet the income requirement to qualify for the application for the loan offer.
Unfortunately, not everyone can meet the long list of requirements of banks and most lending companies. With Home Credit, you only to prepare at least one (1) valid primary ID and your proof of income. You may already qualify for the Home Credit Product Loan which is its most popular offer.
Aside from the product financing service offered by Home Credit Philippines, the lender also has the Home Credit Cash Loan. It is usually extended to previous and existing HC clients with good credit records.
If you received an offer, there are several ways to apply for the Home Credit Cash Loan. However, one of the best moves to make before applying for the loan is to check how much is the Home Credit Cash Loan interest rate.
Truth be told that the mistake of countless borrowers in any type of loan is the failure to check the interest rate. In impulsive loaning, most clients settle with simply knowing how much they need to pay on a monthly basis.
Under the Cash Loan offer, the monthly interest rate starts at 1.83%. It will be under an add-on scheme thus the total interest rate varies among clients. During the application, you may ask the HC staff about your monthly amortization under all the terms available for you. Through that, you can check the total interest that your loan will incur.
The loanable amount under the Home Credit Cash Loan offer vary among clients. The borrower may repay the loan for six (6) months up to five (5) years or 60 monthly amortizations. The Home Credit payment can be done through any of the following modes:
- Enroll to Auto Debit Arrangement
- Bank of the Philippine Islands (BPI)
- Rizal Commercial Banking Corporation (RCBC)
- BDO Unibank
- Security Bank
- Philippine National Bank (PNB)
- BDO Network Bank
- Pay on the Website
- Pay on the Mobile App
- Pay Over-the-Counter
If you are interested to apply for the loan offer for you, there is a short list of requirements for Home Credit Cash Loan application that you must prepare.