Home credit calculator online in the Philippines in 2025. How to figure out a Home Credit Bank loan yourself?
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Home Credit is an international non-bank financial institution founded in the Czech Republic in 1997 and headquartered in the Netherlands. The company has offices in nine countries and focuses primarily on installment loans for people with little or no credit history. Founded by Petr Kellner, PPF Group, which is a privately held international investment group, is one of the largest shareholders of the company, which owns 88.62% of the company as of 30 June 2020.
The company’s loans are available at 342.7 thousand partnering retail shops and shopping centers in 10 countries and on Home Credit’s online marketplaces (Russia, China, Philippines, and Vietnam). It is also available online in its mobile application or third-party online stores. In some markets, HC Pay, a QR code-based revolving credit, or a credit card or shopping card can be used to pay. They can be used to finance the purchase of consumer goods through a cashless loan transaction or other items such as language classes, travel, etc. The loans are always issued in the local currency of the brand’s market.
Home Credit Philippines started its operations in the Philippines in October 2013. Home Credit Philippines encourages financial inclusion and safe lending and provide customers, usually first-time borrowers, with good financing services. They improve living conditions and meet borrowers’ financial needs. Their primary business is in-store financing of purchases for mass-market customers with no cash and no collateral who want to buy appliances and mobile devices (computers, tablets, laptops, and mobile phones) in monthly installments. The website is well-protected, so there is no need to be worried about security.
The consumer loan is Home Credit’s most popular financial product. It operates on a pay-later premise, allowing borrowers to make monthly payments on large-ticket items such as computers, phones, gadgets, musical instruments, furniture, and household appliances. Non-credit cardholders can also apply for a cash loan through the company, but you must carefully read the terms and conditions before proceeding with a loan transaction.
With a Home Credit app, you can get a loan at your fingertips, manage your loan accounts, and apply for a new loan straight from the comfort of your home. With its super easy application process, you can use the Home Credit app to apply for a loan and even get a quick disbursal straight into your bank account. You can also get personalized loan offers from the company, which are customized just for you. You can use the loan credit app to run your loan transaction and check your loan status. The Home Credit app is available for Android and iPhone users and on the app stores for free downloads. You can also use the Home Credit app to control your Home Credit card.
To be eligible for a loan transaction, an applicant must be a Filipino citizen whose age is from 18 to 68 years old, have a certificate of authority number, have one primary ID and one secondary ID, and one of the IDs must indicate their current address. They must have an income from at least one top reliable source such as employment, business, pension, and remittances. You can further check your loan transaction eligibility on the Home Credit Philippines website.
A Home Credit Philippines loan calculator will calculate your monthly payment amount based on your principal balance, interest rate, and payback period length. It can only be used on the Home Credit Philippines consumer loan. Consumers have free access to a loan calculator on the Home Credit Philippines website, which they can use anytime.
The purpose of such loans is to make it easier for those who want to purchase certain products but are not financially buoyant. Those with no credit history can apply with minimal documents (just two valid IDs that prove that they are a Filipino citizen). Home Credit Philippines also provides short-term cash loans for any financial need. The loan proceeds can be used for various things, including starting your own business, renovating your home, upgrading your appliances, and paying for your children’s tuition. The calculator helps determine the loan conditions before proceeding with a loan application.
The interest rate on a Home Credit Philippines loan depends on various factors, including the price of the item you are considering, the down payment you can afford, and the payment terms you choose. Their sales agent at the store will be able to help you select a payment plan with monthly commissions within your budget. The loan calculator can also help you understand your monthly commitment. And aside from the flexible down payment they offer, you only need to pay a minimal processing fee equivalent to 3% of the financed amount.
This loan calculator’s assignment is simple to use, comprehend, and complete. You must now enter your loan details, such as the price of the things you want to buy, your cash payment, and the loan length you desire. Go to the Home Credit Philippines website’s specialized calculator and enter the relevant information; your monthly payment will instantly show. Let’s look at some of the house credit loan calculators’ inputs and outputs.
Price of item. The purchase price is the agreed-upon amount you will pay a vendor. It’s the amount on your sales contract.
Cash payment. Cash payment is a quantity of money paid by a buyer at the start of the purchasing process for an item or service. The cash payment is only a part of the total buying price, so the buyer will most likely need to take out a loan to cover the rest.
Length of repayment. When you take out a Home Credit Philippines loan, you’ll make a per-month payment to repay it over time. You’ll have paid off the entire amount at some point and be debt-free. The term length, also known as your loan term or loan maturity period, is the period the lender offers you to repay your loan.
Product type. This is the product you want to acquire with this loan. It could be either of cellphones, computers, appliances, tv/electronics, furniture, scooters, musical instruments, or sporting goods.
Monthly payment. This is the amount you will be paid back monthly for the rest of your loan term. The monthly installment calculated is an estimate based on zero interest rates and may vary depending on the available terms and current and promotional rates at the time of your application. During the application process, your real monthly installments will be calculated.
Your loan principal, the price of the items, the money available to part pay, and the time of repayment are all factored into the easy payment calculation. The total amount owed is paid out evenly over the term of your loan, including principal, interest, and fees. Although your term length may vary, you should plan on making 12 payments every year. Your outcome is influenced by the type of product you use.
The consumer loan calculator is the only type of Home Credit loan calculator available. They provide in-store financing for non-cash consumer loans. They can assist you in financing purchases such as telephones, computers, tablets, laptops, home appliances, and musical instruments, which you can repay in easy monthly installments.
Users can use this calculator to calculate the price and interest they will have to pay to buy a mobile phone. Users can open the calculator and select Phone to start the calculation. They have to enter its price, downpayment, and repayment length. The calculator will automatically calculate your monthly payment amount. The lender offers a minimum loan amount of ₱4,286, and the maximum is ₱45,000. The downpayment is dependent on the loan price, and the terms are 6, 9, 12, 15, and 18 months.
For instance, if you want to purchase a phone worth ₱29,500, the minimum cash payment will be ₱9,470 and the maximum ₱26,590. Now let’s use the tool to calculate what the per month payment will be if someone purchases a phone worth ₱35,000, with a ₱15,000 down payment and a 12-month payment term. If we input this in the tool, it will result in a ₱1,718 installment per month.
Apart from phones, the bank also provides customers with a loan calculator for computers, TV/electronics, furniture, scooters, musical instruments, and sporting goods. All these products have a minimum loan amount of ₱4,286, and the maximum loan amount is ₱60,000; the loan price determines the downpayment; the durations are 6, 9, 12, 15, and 18 months. For example, if you wish to buy a computer for ₱48,000, the minimum cash payment is ₱15,408, and the highest cash payment is ₱45,090. Now, let’s utilize the tool to figure out what the monthly installment would be for a computer worth ₱53,000 with a down payment of ₱30,020 and an 18-month payment period. If we plug this into the calculator, we’ll get a monthly payment of ₱1,316.
Ease of use. The ease of use is one of the main advantages of the Home Credit loan calculator. It’s simple to use and walks you through each step. Home Credit Philippines provides comfort and clarity to its customers. You do not need to go to an office; you must go to the Home Credit Philippines website. The loan amount and repayment period must then be entered. The repayment time for a Home Credit loan might be anywhere from 6 to 18 months. Home Credit also provides on-call or in-person assistance with loan computations and other areas of the application process.
It is time-saving. Home Credit loan calculators help you save time by giving accurate and rapid results. You can use an online Home Credit loan calculator to save time and effort by not having to go to an office, stand in lines, and wait to calculate your conditions before proceeding with a loan application. The remaining steps in the loan process are then completed. Furthermore, the hassle of filling out tedious paperwork or calling an agent to determine the loan amount and interest rates is eliminated. Because a calculator is available online, you can use it on the road, during a work break, or even on vacation in the farthest regions of the globe. All you need is a safe and consistent Internet connection.
Accurate results. One of the most significant benefits of using the Home Credit loan calculator is the accuracy of the results. There is always the possibility of making a mistake while manually calculating the amount of interest payable. You don’t have to use a pen and paper to calculate the amount of interest payable and risk making a mistake. You also don’t have to experiment on your own with various effective interest-rate combinations, desired loan rates, and loan tenures. This loan calculator can help you save time by providing accurate and rapid results for various loan options in minutes or even seconds. The algorithm is set up so you can play around with different loan amounts and tweak the variables that affect your loan without jeopardizing your credit score.
Easy comparison of other loan plans. You can check the amount of principal owing for various loan amounts and terms using the bank loan calculator without affecting your credit score. Soft investigations are straightforward to carry out. You are not obligated to pay an agent or intermediary to conduct these calculations and comparisons on your behalf. You may quickly try out a variety of loan options this way. You can also choose a loan amount that does not conflict with your financial obligations, daily spending, or overall lifestyle. Remember that you are not forced to select the first Home Credit loan plan the calculator recommends, and you are free to consider as many variants as possible.
Everything about Home Credit loan calculators is quite simple. Apart from the currency, the Philippine peso, all other required fields are digital, so we can easily use our computer or phone’s keyboard to type in our inputs. However, there are a few functions and terms we can explain a bit:
Price of the item. This is simply the amount the product you’re about to purchase costs. You’re not taking a cash loan, you’re buying the product and paying the available amount (your cash payment), and then you pay the rest later.
Your cash payment. Home Credit Philippines lets you buy the listed products, pay the amount of money you have presently (that is your cash payment), and you get the product, with an agreement to let you split the subsequent payments into once-a-month payments till you cover the cost of the product.
Length of payment. This is the number of months you want to pay back your debt. It ranges from 6 to 18 months. After inputting all other functions, you will now select the number of months you’ll be comfortable paying the loan back, and the calculator will show you how much you’ll be paying per month till you cover it.
Let’s understand how to use this calculator with the help of some useful examples.
Example 1. For example, you need a computer, but the money you have isn’t enough to get you a computer of your choice. So, you want to get it by taking a loan from Home Credit. You will have to follow these steps to use the loan calculator. You can head to the Home Credit Philippines website, navigate to Products and promos, and then to Customer loans. Then, from there, choose the product of your choice, a personal computer in this case. Now it’ll take you to the calculator. First of all, input the price of the item in the required field, let’s say ₱38,500, and then proceed to type in the amount of money you have to pay presently, say ₱27,000, and lastly, select the length of payment, let’s use 18 months in this case. The result will be displayed immediately, showing us that the monthly installment will be ₱659 / month.
Note that the computed monthly installment is always an estimate based on zero interest rates. The output may vary depending on prevailing and promotional rates available during your application. The output is just a run-through one. The actual monthly installments are always computed during your application.
Example 2. Someone wants to purchase a home appliance worth ₱12,800, though they only have a cash payment of ₱5,000. They want to get a loan to cover the rest of the payment with a loan term of 12 months. Now let’s input these values into the calculator and see what it gives us. First, input the price of the product, which is ₱12,800, now input your cash payment, ₱5,000 in this case, and select the 12-month length of payment, then wait for the output. The output will immediately come out as ₱670 / month, which means that the person will need to make a monthly installment of ₱670 per month for 12 months to cover the full payment of the item.
Foe example, you want to purchase furniture, a TV, a scooter, and a mobile phone which will cost you ₱58,000, ₱18,000, ₱43,000, and ₱32,000 respectively, but you only have ₱55,000 in cash to pay for those items. Now, your only choice is to get these stuff using a Home Credit loan with an 18-month length of payment. All that is needed to be done here is to split your cash payment into these four items, let’s say ₱20,000 for the furniture, ₱6,000 for the TV, ₱15,000 for the scooter, and ₱14,000 for the mobile phone. You will need to use the calculator to calculate how much will be needed to make monthly installments for each item.
Starting with the furniture, if we input those terms into the calculator, we will pay ₱2,176 / month as the outcome. This is what will be paid per month for the furniture. Now, we do the same for the TV; ₱ 687/month will be the outcome here. Now, for the scooter, ₱1,604/month will be the outcome. Lastly, we compute for the mobile phone; ₱1,031 will be the monthly installment here. If you add up all the monthly payments, it will amount to ₱5,498.
This means that you purchased products worth ₱151,000 with a ₱55,000 down payment, then you got a loan of ₱96,000 to get all the listed products, with an agreement to pay an extra ₱5,498 per month for 18 months, to cover your loan payment.