About bank
The firm works in nine countries and primarily provides installment loans to persons with little or no credit history. The Group had served approximately 135.4 million consumers as of June 30, 2020. PPF, a privately held worldwide investment firm whose founder and the principal beneficiary was Petr Kellner, is the Group's largest shareholder, with an 88.62% interest.
They began activities in the Philippines in October of 2013. Their primary business is non-cash, no-collateral in-store lending of purchases to qualified mass-market clients looking to buy home appliances and mobile devices (computer systems, tablets, laptops, and mobile phones) in monthly payments.
Features
Below are some features of the Home Credit bank:
- Loans. The principal service provided by the firm is lending services such as consumer loans. There are additional loans available, such as cash loans and Qwarta.
- Partnering stores. Home Credit is primarily an online firm. However, it has partner stores all across the Philippines. Customers do not need to remember the locations of these businesses because they can go to the company's website and search for a partner shop that is closest to their present location.
- Home Credit app. The Home Credit app is simple to use and allows you to accomplish much with it. You can use the app to activate your new home credit card anywhere you are, limit your spending with a summary of your card transactions, and secure your transactions by establishing your credit card password. If you misplace your card, use the app to block it. Remember that if you find it again, you can unblock it.
Pros and cons
Before using any of the company's products or services, it is critical to consider the benefits and disadvantages of the company's services. Some of them are listed below.
Pros
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They do not share their clients' or prospective client private data, so you are assured that your data is safe.
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Their services are primarily online, so there is no hassle of long queues or waiting.
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They are an international firm and have offices in many countries and continents, including Europe and America.
Cons
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The services offered by this company are mostly online based, meaning clients are always at risk of security breaches and data theft.
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They do not have an offline office everywhere, meaning customers may find it hard for their queries to be attended to.
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Their interest rates are generally high.
Products and services
Below are some of the products and services offered by this company:
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Consumer loan. With this financing, you can acquire the items you desire in affordable monthly payments. These span from house improvements to gadget upgrades, leisure activities, transportation, etc.
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Cash loan. If you need money, you may borrow up to ₱150,000 from Home Credit to start your own business, renovate your home, replace your gadgets/appliances, pay education fees, and so on.
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Qwarta. When they receive a loan, customers get Qwarta fast approval with a spending limit of up to ₱10,000. Anyone can acquire a Home Credit Qwarta if they secure a Home Credit loan for a gadget, home appliance, furniture, or any other commodity.
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Marketplace. You can select a product and apply for the cheap monthly payment option here. The following are some of the benefits:
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Smart purchasing experience. Find and compare the best rates and conditions from numerous retailers around the country.
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Multiple payment options. Pay in monthly installments or full in-store with cash or credit card.
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Special offers & promotions. Take advantage of a variety of marketplace-exclusive offers and promotions.
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Credit card. You will incur no fees when you use the Home Credit card to pay expenses such as utilities. You will receive a 5% discount when purchasing loads when you use the My Home Credit app. It is also simpler to pay bills and shop using QR codes. You will also receive up to 45 days of interest-free credit. Aside from the 30-day billing term, there is a 15-day grace period before the payment due date.
