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How can I buy a Mobile Phone on easy EMIs from Home Credit?
You can get any smartphone of your choice on easy EMIs by applying for Home Credit Ujjwal EMI Card. You need to meet the following criteria:
What is the tenure of EMIs for smartphone loans on Ujjwal EMI Card?
Tenure of the loan depends on the chosen brand and product. Typically, the tenure varies between 6 -13 months.
What documents are required to buy Mobile phone on EMIs from Home Credit
To take a Mobile Phone on EMIs, you need to provide one ID proof and one current address proof.
List of acceptable documents
ID Proof:
Address Proof (Any one of these):
*Conditions apply. Home Credit India reserves the rights to call upon additional documents, if required.
Where can I buy a smartphone on EMIs from Home Credit?
Home Credit India is currently in 625 cities and has partnered with 53,000+ merchants in these locations. Click here for the list of partner shops. Calculate your EMI here.
What is the #EMIPeBadiBachat offer (Gift offer) provided by Home Credit India?
Gift offer is available on select products, where the last EMI is waived if customers pay all previous instalments on or before the due date. This offer is available only to qualified customers based on their past credit history.
Does #EMIPeBadiBachat offer (Gift offer) applicable in case I opt for Payment Holiday during my loan term?
Yes, Payment Holiday has no impact on #EMIPeBadiBachat offer (Gift offer). Payment Holiday will extend your loan term by a month, but you need to ensure that you pay all your instalments on or before the due date.
When will my loan contract get over if I pay all my instalments on time, with #EMIPeBadiBachat offer (Gift offer)
The loan contract will be automatically finished 6 days after the payment of your second-last EMI (Installment).
Which Value Added Services are available while financing mobile phones?
Home Credit India gives you the opportunity to opt for the following Value Added Services with Mobile Phone on EMIs:
How can I buy Home Appliances on easy EMIs from Home Credit?
You can get any Home Appliance of your choice on easy EMIs by applying for Home Credit Ujjwal EMI Card. You need to meet the following criteria:
What documents are required to buy Home Appliances on EMIs from Home Credit?
To take a Home Appliance on EMIs, you need to provide one ID proof and one current address proof.
List of acceptable documents
ID Proof:
Address Proof (Any one of these):
*Conditions apply. Home Credit India reserves the rights to call upon additional documents, if required.
Which home appliances can I buy on EMIs from Home Credit?
What is the maximum loan amount that I can get to buy Home Appliances on EMIs?
The loan amount for taking a Home Appliance on EMIs depends on the total available limit which is offered to you on Ujjwal EMI Card. You can get a limit of up to ₹75,000.
What is the tenure of EMIs for Home Appliance loan on Ujjwal EMI Card?
Tenure of the loan depends on the chosen brand and product. Typically, the tenure varies between 6 to 13 months.
Where can I buy a Home Appliance on EMIs from Home Credit?
Home Credit India is currently in 625 cities and has partnered with 53,000+ merchants in these locations. Click here to see the nearest partner shop.
Can I choose the loan amount and tenure to buy Home Appliances?
We have various loan options based on product categories, model, and price, which will help you choose the loan amount and tenure as per your requirements.
Which Value Added Services are available while financing Home Appliances?
Home Credit India gives you the opportunity to opt for the following Value Added Services:
What is a Personal Loan?
A personal loan is a loan that does not require any collateral or guarantor and can be obtained with just two documents. Home Credit India offers Personal Loans of up to ₹4,80,000 to address your present financial requirements. Use it for urgent needs such as medical emergencies, home renovations, weddings, or any unforeseen expenses.
What are the eligibility criteria for a Personal Loan?
With our simple eligibility existing Home Credit customers can easily apply for a personal loan. You are eligible to apply for a Home Credit Personal Loan if you meet the following criteria:
What documents are required to apply for a Personal Loan?
To apply for a personal loan, you need to provide 1 ID proof and 1 current address proof.
List of acceptable documents for Existing Home Credit Customers:
ID Proof:
Address Proof (Any one of these):
*Conditions apply. Home Credit India reserves the rights to call upon additional documents, if required.
What is the minimum and maximum loan amount offered by Home Credit India to existing Home Credit customers?
| Minimum Loan Amount | Maximum Loan Amount |
| ₹10,000 | ₹4,80,000 |
What will be the tenure for availing a Personal Loan?
| Minimum Tenure (months) | Maximum Tenure (months) |
| 9 | 48 |
How can I apply for a Personal Loan with Home Credit?
To apply for a Personal Loan with Home Credit, you need to be an existing Home Credit customer. You can check your pre-approved loan offers on Home Credit App and complete the application process directly within the app. Our sales representatives will reach out to eligible customers as soon as loan offers become available for them.
Can I choose the loan amount and tenure of my loan?
Yes, customers can choose the loan amount and tenure according to the eligibility criteria set by Home Credit India. Calculate EMI on Personal Loan now.
Do I have to pay any additional charges for a Personal Loan?
A processing fee of up to 5% may be levied on the loan as per the loan offer available for you.
Can I get a top-up loan on my existing Personal Loan?
Yes, Home Credit India provides a top-up on the existing personal loan based on the repayment history and applicable credit policies. You can check your eligibility on the Home Credit App.
What are Late Payment Charges?
Late Payment Charges shall be levied on the total outstanding principal amount of the loan in case a customer does not pay the monthly installment on or before the due date.
How can I find out the status of my Personal Loan application?
Once your loan is approved, you can check its status through the Home Credit App. Typically, the loan amount is transferred to your bank account within 5 working days following the successful setup of Auto Debit.
Additionally, you can reach out to us at 0124-662-8888 or chat with us via our mobile App between 9:00 a.m. and 7:00 p.m. Alternatively, you can email us at care@homecredit.co.in with your query, and we will respond within 48 hours.
Which Value-Added Services are available along with the Personal Loan?
Home Credit India gives you the opportunity to opt for the following services along with the Personal Loan:
Is it mandatory to take a Value-Added Service with the loan?
Customers may decide to opt for value added service as per their need during the loan application process.
What is Ujjwal EMI Card?
Ujjwal EMI Card is a virtual card offering an instant pre-approved credit limit of up to ₹75,000, enabling you to convert your purchases into easy EMIs.
How can I apply for Ujjwal EMI Card?
There are two ways to apply for Ujjwal EMI Card:
This limit allows you to effortlessly purchase any of your favorite products on easy EMIs at our partner shops or online partners. Start your application now and say goodbye to delays! Happy shopping.
Where can I use my Ujjwal EMI Card?
Home Credit Ujjwal EMI Card gives you the flexibility to purchase your favorite products on easy EMIs.
How long does it take to activate the Home Credit Ujjwal EMI Card?
The Home Credit Ujjwal EMI Card is instantly activated upon the completion of the application process. This process includes Know Your Customer (KYC) verification, bank validation, setting up auto debit, and digitally signing the enrollment form.
Our dedicated Home Credit representatives stationed at partner stores will assist you in navigating through the application procedure for obtaining the Ujjwal EMI Card.
If, during the loan application, you encounter difficulty in setting up your auto debit for your Ujjwal EMI Card bill payments, you have the flexibility to do so at any time through our website.
Can I apply for a physical card?
When you shop using your Ujjwal EMI Card, you don't need a physical card, it's all digital! Your Ujjwal EMI Card provides an instant pre-approved credit limit. You can easily access your card number and limit details on the Home Credit App. To start shopping, all you need is your Ujjwal EMI Card number. Enjoy the convenience of shopping with your digital Ujjwal EMI Card hassle-free!
What is the tenure of the loan taken via Ujjwal EMI Card?
We offer a range of tenure options spanning from 3 to 12 months. The availability of these tenures depends on your allocated credit limit and the maximum monthly installment limit available to you.
Can I buy multiple products in a single transaction?
You can use your Ujjwal EMI Card to make multiple transactions, if you have an available limit and an available maximum monthly installment limit.
How will I repay the EMIs when I purchase products using the Ujjwal EMI Card?
A monthly bill will be generated, including all installments associated with the Ujjwal EMI Card for all prior purchases, along with any relevant fees and charges. This bill will be generated 15 days before your due date and will be sent to you via email. Additionally, you can access the monthly statement through the Home Credit App.
If you have set up Auto Debit for your monthly bill payment, the specified amount will be deducted directly from your linked bank account. However, if you prefer to make an online payment, you can do so up to 2 days before the due date using the Home Credit app or website.
Why does my due date fall within 30 days of making a purchase with my Ujjwal EMI Card?
The due date and billing cycle for the Ujjwal EMI Card remain consistent. If a transaction is made before the monthly bill is generated, the installment will be due on the upcoming bill. However, if the transaction occurs after the monthly bill has been generated, the installment will be due with the subsequent monthly bill. The monthly bill is generated 15 days prior to the due date.
In what situation can the Ujjwal EMI Card limit get blocked?
The Ujjwal EMI Card limit gets blocked in the following scenarios:
Please note that Home Credit India reserves the right to issue or block the Ujjwal EMI Card or update the credit limit available on your Ujjwal EMI Card as per our internal credit policy.
How do I unblock my Ujjwal EMI Card
We advise you to review the scenarios which may have led to the blocking of your card. If any of these scenarios apply to you and have resulted in your card being blocked, we suggest reaching out to Home Credit customer care for assistance. They can guide you through the necessary steps to rectify the issue and unblock your card.
Please connect with Home Credit customer care by writing an email to us using your registered email ID, along with your Ujjwal EMI Card number, at care@homecredit.co.in, or call us at 0124 662 8888 or chat with us on App or Website to unblock your card immediately.
Can I extend or change the EMI tenure after the transaction?
Once the transaction is signed, there is no provision to change the EMI tenure. Nevertheless, Home Credit provides its customers with the freedom to select their preferred tenure prior to completing the purchase, offering flexibility in the decision-making process.
What is Payment Holiday (PH)?
The payment holiday feature enables customers to defer their monthly bill by one month if necessary. It becomes available after the first two monthly bills are paid on or before their due dates. This benefit can be utilized twice during the entire loan tenure, with a minimum interval of 6 months between each payment holiday.
What should I do if my monthly bill is incorrect?
Your monthly bill is meticulously generated by our system, minimizing the possibility of errors. However, if you require clarification regarding the billed amount or encounter any issues with your dues, we encourage you to reach out to us. You can connect with our customer support team via chat on the Home Credit App or Website. Alternatively, you may email us detailing the issue from your registered email ID, including your Ujjwal EMI Card number, at care@homecredit.co.in. Additionally, you can contact us at 0124 662 8888.
What should I do if my Ujjwal EMI Card is mis-used?
In case of any suspicious activity, please reach out to us via chat on the Home Credit App or Website or connect with Home Credit Customer Care at 0124 662 8888 to block your card immediately.
Note: Never give access to your Ujjwal Card number to anyone to avoid any kind of fraud or mis-use of your card.
Can I increase or decrease the limit after getting an Ujjwal EMI Card?
As per internal credit policy, we periodically assess and increase the total credit limit on your Ujjwal EMI Card based on your repayment journey and in line with our credit policy. However, we do not accept customer requests for an increase or decrease in the limit once the card is issued.
Do I need to make a down payment?
The down payment amount varies for different products and the loan offers available for the product you wish to buy. For more details, please contact your nearest Home Credit partner shop.
Is the Ujjwal EMI Card a credit card?
The Ujjwal EMI card is not a credit card. It is a virtual card with a pre-approved credit limit that allows you to convert the cost of your purchases into easy EMIs/ Monthly Installments, making the purchase more affordable.
What is the maximum monthly installment limit?
The maximum monthly installment limit is the maximum a customer can pay as installments every month. The sum of your installments for all transactions cannot exceed the maximum monthly installment limit.
I have a limit available on my Ujjwal EMI Card, but I am not able to use the limit for any transaction.
It is possible that the cumulative total of your installments may surpass the maximum monthly installment limit for your Ujjwal EMI Card, thus resulting in the inability to process your transaction. If there is available limit on your Ujjwal EMI Card, we recommend considering extending the loan tenure. Doing so will ensure that your monthly installment limit is not exceeded, allowing for successful processing of your transaction.
Which Value-Added Services are offered with Ujjwal EMI Card?
When utilizing your Ujjwal EMI Card for purchasing products on EMIs, you have the option to select from the following value-added services to augment your loan:
Additionally, you can enhance your protection by opting for our comprehensive Care360° or Health360+ plans, offering holistic coverage for your family. The services included in Care360° or Health360+ include free doctor consultations, savings on medicines/lab tests, personal accident coverage, life cover, and more.
How can I use my Ujjwal EMI Card to buy products online on easy EMIs?
You can use your Ujjwal EMI Card to buy products online by selecting it as the payment method during checkout on our partner merchant websites. You will need to select:
How will the repayment of my online transactions happen?
Repayment for your purchases will be through convenient monthly installments, which will be added to your Ujjwal EMI Card monthly bill. The bill amount will be automatically deducted from your linked bank account if you have successfully set up your Auto Debit. Alternatively, you can use Home Credit mobile app or website to make your bill payments.
Why can’t I see Ujjwal EMI Card as a payment option on the websites of the listed brands.
Online transactions are enabled only if the user is approved by Home Credit to make online transactions using Ujjwal EMI Card. We constantly evaluate all our customers to allow online transactions. In case you're not eligible now, consistent on-time payments of your loan dues may qualify you in the future.
I noticed a charge of Rs 249 on my monthly bill. What is this for?
A transaction fee of Rs 249 is applied to all online transactions.
I have returned the product, but my loan is still active on Ujjwal EMI Card. Why?
Your loan on Ujjwal EMI Card will be cancelled and limit will be restored once Home Credit receives the cancellation request from the merchant partner. Please wait till your return is fully processed.
Why do I need to give my PAN number to complete the transaction?
As per RBI guidelines two factor authentication is mandatory. Hence, we need your PAN Number in addition to the mobile number for authentication.
I want to return some of the items I purchased. How will my EMIs get adjusted?
Certainly, a partial return of your order is possible. Once Home Credit receives the intimation of the return from the merchant partner, this loan will be cancelled and a new loan with the new loan amount will be created. The new loan amount will be the original order value minus the return value. The updated loan summary and repayment schedule will be available on Home Credit mobile app.
Can I return the entire purchase and cancel my loan?
If you are eligible to return your purchase, Home Credit will cancel your loan after your return is successfully processed by the merchant. The amount will be restored in your Ujjwal EMI Card limit. Home Credit offers 15 days of free look period for loan cancellation.
Can a person with no credit history apply for a loan?
Yes, an Indian citizen with an active source of income can avail Home Credit Loans even without a credit history.
Can a retired person apply for a loan?
Yes, a pensioner can avail the Home Credit Loan, if they meet the minimum eligibility criteria.
Can an existing Home Credit customer apply for an additional loan?
Yes, existing customers can apply for additional loans if their current contract to any linked contract is not delinquent. Additionally, there should be a gap of a minimum of 90 days between loan applications.
What is the maximum amount I am eligible to avail?
The maximum loan amount differs from product to product. You can check the maximum loan value on specific Home Credit product sections.
How can I make partial payments against my EMIs?
There is no option for part payment against EMIs, but you can avail of the payment holiday option after paying the first two EMIs.
How do I change my EMI due date?
The EMI due date is system generated and cannot be changed during the entire loan tenure
How do I check the status of the payments I have made?
Payment status can be checked under the Repayment Schedule on the Home Credit mobile app. To access the Repayment Schedule navigate to Home > My loans > Contract Number > repayment Schedule > Download Repayment Schedule.
How many products can I buy in a single transaction?
Only one Home Credit Mobile Phone Loan can be availed on a single loan application.
When would I be levied late payment charges on my loan?
Late payment charges will be levied if the EMI amount is not paid within the due date.
How can I foreclose my loan?
The loan can be foreclosed by raising a request for early repayment with Home Credit customer care.
What is Mobile Protect?
Mobile Protect is a value-added-service that covers repair and replacement of the new device in case of accidental and liquid damage.
For more details on Mobile Protect, please refer to the Terms and Conditions of your product .
Are there any charges to avail Mobile Protect plan?
Yes, a nominal charge is to be paid to avail the Home Credit Mobile Protect plan
How can I raise repair request under Mobile Protect service?
You can raise the repair request with authorized service provider for Mobile Protect service in two simple steps:
• Step 1: Register your repair request by calling the authorized service provider, or online, as mentioned in your e-kit.
• Step 2: Submit the required documents and pay the necessary service fee.
Once your request is registered and processed, pick-up will be scheduled by an authorized service provider.
For queries related to Mobile Protect, please contact your service provider.
What is Safe Pay?
Safe Pay is a value-added service offered to Home Credit consumer durable and personal loan customers. It is a package that offers Payment Holiday, Free Early Repayment. It offers customized plan options to choose from, as per your need.
For more details on Safe Pay, please refer to your product T&C document.
For any queries or concerns related to Safe Pay, you can connect with the following team-
What is the Extended Warranty?
Extended Warranty Plan can be added to the Home Credit loan as a value-added service while purchasing a product financed by Home Credit.
For more details on Extended warranty, please refer to the product Terms and Conditions in the document.
When does the Extended Warranty period start?
The extended warranty period commences upon the expiration of the manufacturer’s warranty.
When does the Extended Warranty period end?
Tenure of your Extended Warranty service is mentioned in the Terms & Conditions. Please refer to the product documents for details.
How can I avail benefits under Extended Warranty?
You can avail the services of Extended Warranty by registering your request online or on call. Follow these simple steps to register your repair request:
A verified technician will visit and provide the repair services at the scheduled time.
For queries related to Extended Warranty, please contact your service provider
What are the accepted payment modes for the Home Credit loan repayment?
You can make payments through the Home Credit website and mobile app. Choose the "Pay EMI" option and pay
using various available payment channels like Debit card, Net banking, wallet, or UPI. Alternatively,
you can use any of the leading payment apps like Paytm, Phonepe or GooglePay to pay your Home Credit
loan installments. You can also deposit cash at the listed ICICI Bank, Axis Bank, and Airtel stores.
How can I setup my Auto Debit via Home Credit’s website?
You can easily setup an Auto Debit mandate on our website by following few simple steps:
Setup Auto Debit now and never miss an EMI with Home Credit
Where can I find my due amount and due date for my next installment?
The due date and repayment schedule for your active loans can be found under the 'My Loans' section
within the Home Credit Mobile app. For Ujjwal EMI Card or Flexible personal loan, you may refer to the
monthly statements/ monthly bills.
Home Credit India will also inform you about your EMI due date and the due amount through phone calls and
SMS notifications.
What is a repayment schedule, and how can I get a copy of it?
The repayment schedule provides information about your due date, due amount, payment status, payment
date, and paid amount.
You can download a copy of your repayment schedule from our mobile app under the "Loan Management"
tab.
What is Due Date and Overdue?
"Due Date" means the date in every calendar month on or before which the monthly installment(s) of the
respective loan(s) become due and repayable by the borrower to HCIN.
The due date(s) of each loan shall be specified in the respective loan summary. If the customer fails to
pay the EMI on the due date, the loan will become overdue.
Where can I find my Contract Number/Ujjwal EMI Card Number?
Your Contract Number/Ujjwal EMI Card Number can be found in the loan summary and application form that
was provided to you when you went through the loan application process. You can also check your Contract
Number/Ujjwal EMI Card Number details on our mobile app.
Can I change my EMI due date?
The due date is a system-generated date during the loan application process and cannot be changed.
I have opted for Auto Debit as my repayment mode, but the installment amount has not been debited from my
account.
The installment due amount is automatically debited from your bank account after successful Auto Debit
set up. It may happen that your account does not have sufficient balance at the time of debit due to
which the amount was not successfully debited.
For more information, contact us at care@homecredit.co.in or
contact our customer care number at 0124-6628888.
My Auto Debit account number has changed; how can I register for a new account?
You can change the account linked to auto-debit by clicking here.
I have already paid the monthly installment/ bill, but the same is not reflecting in my
account.
A confirmation SMS will be sent when your payment gets updated in the Home Credit system. This may take
up to 72 hours.
How can I foreclose my loan?
Please contact our customer care number at 0124-6628888 to check the loan foreclosure eligibility. You
can also email us at care@homecredit.co.in for your
foreclosure request.
I have made the payment for my loan with the wrong contract number. How can I rectify this
error?
Please share your payment receipt at care@homecredit.co.in ,
along with the correct and incorrect contract numbers. After receiving these details, it will take 3
working days to rectify the error.
Can I pay my monthly installment in advance through any other repayment channel?
If you want to pay your monthly installment in advance before the due date, you are requested to make
payment at least 5 days prior to the due date. Also, inform the company through "contact us" options and
provide proof of payment (a payment receipt or transaction number). If you fail to do so, the mandate
will be presented by the company for the respective month(s).
I have made an additional payment this month; how can I request a refund?
The additional amount that you have paid will be offset against the upcoming installment. If you wish to
initiate a refund, please register your request by emailing us at care@homecredit.co.in. We will ensure a response within 48
hours. Alternatively, please feel free to get in touch with a Home Credit representative through the
chat option on our website or mobile app, our representatives are available to assist you from 9:00 a.m.
to 7:00 p.m.
When will late payment charges be levied on my loan?
Late payment charges will be levied if the EMI amount is not paid by the due date.
What is Late Payment Charge?
Late Payment Charge is levied on the overdue amount in case a customer does not pay the monthly
installment on or before the due date.
Why was my monthly installment debited from my bank account despite being pre-paid for the respective
month(s) through an alternative repayment channel?
Once the mandate is presented for the respective month(s), the monthly installment amount will be
deducted from your bank account on the scheduled due date. Even if you have already made an advance
payment through any other repayment channel within two days before the due date, the amount deduction
will still occur, as the mandate presentation process is initiated with the bank two days before the due
date. Any excess amount resulting from this overpayment will be adjusted against your dues for the next
month, or you can request the company for a refund of the excess amount paid by you. In case there is
insufficient fund in your bank account, bounce charges are levied by your bank. The company will not be
liable to refund these charges, as they are in accordance with your bank’s policy. If your bank rejects
the payment mandate, the company reserves the right to represent the mandate for clearance on a later
date within the same month. For any help, please feel free to get in touch with us using any of the
options provided in our "contact us" section.
When is the mandate presented for my monthly installment (EMI)?
As per the process, the monthly installment is presented for payment two days before the due date. For
example, if your due date is January 5, 2023, the presentation of mandate will take place on January 3,
2023. However, the amount will be debited from your bank account on the due date. If there are
insufficient funds in your bank account, your bank may impose bounce charges. Please note that the
company will not be liable for refunding these charges, as these are levied as per your bank’s policy.
If your bank declines the payment mandate, the company reserves the right to represent the mandate for
clearance on a later date within the same month.
How are Special Mention Accounts (SMA) categories classified?
The basis for the classification of SMA categories shall be as follows:
|
Loans other than revolving facilities |
Loans in revolving facilities like cash credit/overdraft |
||
|
SMA Sub-categories |
Basis for classification – Principal or interest payment or any other amount wholly or partly overdue |
SMA Sub-categories |
Basis for classification – Outstanding balance remains continuously in excess of the sanctioned limit or drawing power, whichever is lower, for a period of: |
|
SMA-0 |
Up to 30 days |
||
|
SMA-1 |
More than 30 days and up to 60 days |
SMA-1 |
More than 30 days and up to 60 days |
|
SMA-2 |
More than 60 days and up to 90 days |
SMA-2 |
More than 60 days and up to 90 days |
Here is an example of Special Mention Accounts (SMA) and Non-Performing Assets (NPA):
Example: If the due date of a loan account is March 31, 2023, and full dues are not received before the lending institution runs the day-end process for this date, the date of overdue payments shall be March 31, 2023. If it continues to remain overdue, then this account shall get tagged as SMA-1 upon running the day-end process on April 30, 2023, i.e., upon completion of 30 days of being continuously overdue. Accordingly, the date of SMA-1 classification for that account shall be April 30, 2023.
Similarly, if the account continues to remain overdue, it shall get tagged as SMA-2 upon running the day-end process on May 30, 2023, and if it continues to remain overdue further, it shall get classified as NPA upon running the day-end process on June 29, 2023.
When is the upgrade done for the accounts classified as NPAs?
The loan accounts classified as NPAs can be upgraded to 'standard’ assets only when the borrower has paid
the entire outstanding interest and principal amount in arrears.
Can existing mandates be amended?
Yes, you can amend existing mandates on our website by selecting the option to edit your Auto Debit
mandate. You can easily link your new bank account using authentication methods such as Net Banking,
Debit Card, or UPI. The new details will replace the old ones, and you’ll be all set!
How can I cancel my Auto Debit mandate via Home Credit’s website?
You can easily cancel an existing Auto Debit mandate on our website by following few simple steps:
We recommend you to not cancel an Auto Debit mandate for an active loan to avoid missing your loan repayments. Home Credit only charges the customers via Auto Debit if they have any loan dues and not otherwise.
What is Auto Debit?
Auto Debit is a service that enables the automatic payment of your loan installments from your bank
account on the due date. Once you opt for this facility, your bank account will be debited on the
payment due date, and the corresponding amount will be credited to your loan account.
What are the benefits of Auto Debit facility?
Once you apply for this facility, you no longer need to process your monthly payments manually. Home
Credit shall automatically debit your bank account and process the payment to your loan account. Please
ensure you maintain sufficient funds in your bank account, as the Auto Debit request is initiated two
days before your payment due date.
What information do I need to setup an Auto Debit mandate?
To setup an Auto Debit mandate, you will need to provide your bank account details. Please ensure your
bank account is active, at least 6 months old, and has sufficient funds for the transaction.
How long does it take to setup an Auto Debit mandate?
Setting up an Auto Debit mandate typically takes 2-3 business days. Once the setup is complete, you will
receive a confirmation notification.
How long does it take to cancel an Auto Debit mandate?
Cancelling an auto debit mandate generally takes 1-2 business days. You will receive confirmation once
the cancellation is processed.
Can I cancel the Auto Debit mandate for my active loan?
Auto Debit is a mandatory requirement for managing your active loan with Home Credit. This ensures timely
and hassle-free payments, that helps you avoid late fees and maintain a good credit score.
Will I be charged any fees for cancelling an Auto Debit mandate?
No, Home Credit does not charge any fees for cancelling an Auto Debit mandate. However, please ensure
that alternative payment arrangements are made to avoid any disruption in your loan repayment schedule.
How can I check my contract payment status or disbursement report?
You can check your contract payment status or disbursement report through the below steps:
How can I check contract error or contract status?
You can check the contract error or status of your contract through the below steps.
• Login to our Partner Portal Page using your HOMER ID & Password.
• Once you have logged in successfully, click on ‘My Reports’ and then navigate to “Contracts Report”.
• Then you have to choose the date range as per the creation date of the contracts and then click on ‘Search’ button.
• Now, select ‘check Errors Status of your contracts’.
• Click on active column to check contract activation status.
How can I reset HOMER Password?
To reset the password for HOMER Application ID, please open the webpage
How can I find details of Home Credit’s District Sales Manager?
Please reach out to us on our Partner Helpline at 1800-419-6660 to get details about our District Sales Manager
What is a Flexible Personal Loan?
Flexible Personal Loan offers you with the flexibility to choose your credit limit, from which you can withdraw any amount starting from ₹5000 into your bank account whenever you want. You can use this limit for various purposes such as medical treatment, home renovation, travel, wedding, or any other financial requirement.
What are the eligibility criteria for a Flexible Personal Loan?
To apply for a Home Credit Flexible Personal Loan, you should:
What are the minimum and maximum limits offered by Home Credit?
With Home Credit Flexible Personal Loan, you can get a flexible credit limit ranging from ₹10,000 to ₹1,00,000
How can I apply for a Flexible Personal Loan?
If you're eligible for our Flexible Personal Loan, one of the Home Credit sales representatives will reach out to you and guide you through a simple, hassle-free application process.
What is the minimum amount I can withdraw from my flexible credit limit?
You can withdraw any amount starting from ₹5000 from your flexible credit limit. The maximum amount you can withdraw cannot exceed your available credit limit at that point of time.
How can I make a withdrawal?
You can withdraw from the flexible credit limit through the Home Credit App by following the below-mentioned steps:
What is the minimum and maximum tenure offered for a Flexible Personal Loan?
Home Credit Flexible Personal Loan offers a flexible limit for 36 months. After that it can be converted into a term loan for up to 24 months. There is no minimum tenure, and you can repay the outstanding principal whenever you want, through the "Pay Now" section on the Flexible Personal Loan page in the Home Credit app.
Can I choose the limit amount for my Flexible Personal Loan?
Yes, Home Credit allows you to choose the limit from the approved offer flexible credit limit. Minimum amount for Flexible Personal Loan is ₹10,000 and can go up to the maximum offered limit.
What documents are required for a Flexible Personal Loan?
A Valid PAN Card, an Address proof and proof of an active bank account are required to apply for Flexible Personal Loan.
How is a Flexible Personal Loan different from a personal loan?
Flexible Personal Loans are different from personal loans in the following ways:
How long does it take for the Flexible Personal Loan application to get approved?
It takes up to 48 hours to activate your Flexible Personal Loan after completing all the steps in the application process. The application is considered complete once you have completed the loan signing process and set up auto debit for automatic payments on our mobile app. The status of your loan will be visible on our app.
Do I need to pay a fee to apply for a Flexible Personal Loan?
No, Home Credit does not charge any origination fee for flexible personal loan. This means that you can get a flexible limit at no cost until you withdraw an amount into your account.
What is a transaction fee, and when is it charged?
The transaction fee is 2.5% of the withdrawal amount. It is charged only when a withdrawal is requested by you.
When will I get the Flexible Personal Loan monthly bill?
Your monthly bill will be generated 15 days before the due date. It will be made available on the mobile app and sent to your registered email ID. You can easily download your monthly bill from our Home Credit app. Just click on your Flexible Personal Loan on the Home Page and go to the View Monthly Bill section.
What will be the due date for my flexible personal loan? Can I change the due date?
The exact due date is generated once the loan application process is completed, and the contract is signed. Once generated, the due date cannot be changed.
How can I pay my monthly bill?
You are requested to set-up auto debit at the time of taking the loan so that your monthly bills will automatically be deducted from your bank account on your due date. If for any reason you were unable to pay using auto-debit, you can pay your monthly bill through the Home Credit App. Select the "Pay Now" option on the Flexible Personal Loan page and choose a repayment method from the available options. If you wish to set up auto debit now, click here
How is my monthly bill calculated?
The minimum amount due on your monthly bill is calculated as 3% of the outstanding principal + Applicable Fees + Interest Charged + Value Added Service Fee (if applicable) + Late Payment Charges, or Rs. 2500, whichever is higher. It is mandatory to pay the Minimum Amount Due on or before your due date to avoid late payment charges and a negative impact on your credit score. You can also make a lump-sum payment of the outstanding principal anytime, whenever you have additional funds with you.
When would the late payment charges be levied?
Late payment charges will be levied on your total outstanding loan amount if the minimum amount due as per the monthly bill is not paid by the due date.
How can I foreclose my flexible personal loan?
You can foreclose your Flexible Personal Loan by placing an early repayment request by calling 0124 662 8888 or writing to our Customer Care department at care@homecredit.co.in.
Can a retired person also apply for a flexible personal loan?
Yes, a pensioner can also avail Home Credit Flexible Personal Loan if they meet the minimum eligibility criteria.
What is Flexi Period?
Flexi Period is the 3-year tenure of your Home Credit Flexible Personal Loan in which you are able to withdraw an amount of your choice from your Flexible Personal Loan limit and pay back whenever you have the funds available with you. During the Flexi Period there is a monthly bill which is generated and the Minimum Amount Due as per the bill needs to be paid on the monthly due date.
What is Fixed period?
Fixed Period refers to the tenure of up to 2 years which comes into effect after the Flexi Period has ended. If you have an amount due towards the end of the Flexi Period, you will be required to pay it off before the Flexi Period ends and in case you are unable to do so, you can convert it into a Fixed Period Personal Loan of up to 24 months.
What is a Fixed Period Personal Loan?
After 34 months of the Flexi Period have passed, customers are given an option to either pay their Total Amount Due and close their Flexible Personal Loan or to convert the Total Amount Due into a Fixed Period Personal Loan. A customer also has the choice to pay off some part of the Total Amount Due during the Flexi Period as a lumpsum payment and convert only the remaining into a Fixed Period Personal Loan.
A Fixed Period Personal Loan is very similar to a regular personal loan which will have a fixed tenure of 3 to 24 months, a fixed interest rate at which interest shall be calculated and a fixed EMI which needs to be paid every month on or before the due date.
What is the eligibility criteria for converting the Total Amount Due of the Flexi Period into a Fixed Period Personal Loan?
A customer can convert the Total Amount Due provided the following conditions are met:
In case your Total Amount Due is less than Rs. 2500 then you will have to pay it off by the end of the Flexi Period and close your account to avoid any delinquency or late payment charges.
What is the process of converting the Total Amount Due into a Fixed Period Personal Loan?
After 34 months of your Flexi Tenure, you will be able to see the option of loan conversion on our mobile app. This option will be visible to you only if you are eligible for loan conversion. If you wish to convert your outstanding dues into a Fixed Period Personal Loan, all you need to do is select the option to convert, choose your tenure and complete the conversion on the app. Once converted, this cannot be reversed. However, if you want to pay and close your account instead of converting, you will be able to do so on the app. Kindly view your Flexible Personal Loan page on the mobile app for exploring all your payment and conversion options.
What if I don’t want to convert my Total Amount Due into a Fixed Period Personal Loan?
In case you do not wish to convert your Total Amount Due into a Fixed Period Personal Loan, then you will have to pay it off to Home Credit before your Flexi Period ends so that your loan account can be closed successfully. You shall receive a No Dues Certificate after 10 days of loan closure on your registered email ID and phone number. However, in case a customer fails to pay by the end of the 36th month of the Flexi Tenure and does not convert the amount into a Fixed Period Personal Loan on his own via the app, then it shall automatically get converted into a Fixed Period Personal Loan of up to 24 months, provided the amount due is more than Rs. 2500.
What is the Interest rate of Fixed Period Personal Loan?
The interest rate of the Fixed Period Personal Loan is the same as the interest of your Flexible Personal Loan as mentioned in your loan documents.
What is Fixed Period Conversion Notice?
It is the document which is issued to the customer after conversion of Flexible Personal loan to Fixed Period Personal loan. It includes the Key Fact statement, repayment schedule and Terms & Conditions of the Fixed Period Personal Loan.
How is the installment of the Fixed Period Personal Loan calculated?
Your installment will be calculated based on the interest rate and the tenure which is applied to your Fixed Period Personal Loan.
Will there be any fee charged at the time of end of Flexi Period?
No, there will be no additional fee charged at the end of the Flexi Period, other than your outstanding dues and late payment charges if any.
Will there be any fee charged for converting the Total Amount Due into a Fixed Period Personal Loan?
No, there is no processing fee or conversion fee charged to convert the Total Amount Due into a Fixed Period Personal Loan. The conversion facility is free of cost.
Will the annual renewal fee be charged during the Fixed Period?
No, the Annual Renewal Fee for Flexi Period shall not be charged during the Fixed Period.
What will be the due date for the Fixed Period Personal Loan?
The due date of the Fixed Period Personal Loan will be the same as the due date of your Flexible Personal Loan. The monthly bill will continue to be generated with your installment amount as the due amount.
How can I pay the EMI of Fixed Period Personal Loan?
The payment of your monthly installment shall be deducted from your linked bank account via auto debit in case your auto debit facility is active. If you have not set up auto debit, we recommend you do so on our website. Alternatively, you may pay your monthly dues via our mobile app or website as well.
Will there be any additional charges if I miss my EMI?
Yes, the late payment charges which apply for any Home Credit loan shall apply here as well. Below is a detailed overview of late payment charges:
Late Payment Charges
| Days past due | Outstanding loan amount | |||
| ≤ ₹ 5000 | > ₹ 5000 | |||
| Late Payment Charges | Total Late Payment Charges | Late Payment Charges | Total Late Payment Charges | |
| 1 day | ₹200 | ₹200 | ₹550 | ₹550 |
| 30 days | ₹300 | ₹500 | ₹600 | ₹1150 |
| 60 days | ₹400 | ₹900 | ₹650 | ₹1800 |
| 90 days | ₹500 | ₹1400 | ₹750 | ₹2550 |
| 120 days | ₹500 | ₹1900 | ₹750 | ₹3300 |
| 150 days | ₹500 | ₹2400 | ₹750 | ₹4050 |
| 180 days | ₹500 | ₹2900 | ₹750 | ₹4800 |
Where can I see the details and monthly bills of my Flexible Personal Loan after converting to Fixed Period Personal Loan?
You will have access to the details, documents and monthly bills of your Flexible Personal Loan in the self service section on our mobile app.
I want to foreclose my Fixed Period Personal loan. How can I do it?
You may foreclose your Fixed Period Personal Loan by contacting our customer care. You may email us your request at care@homecredit.co.in You must contact our customer support and formally request for foreclosure. Please note that the foreclosure of a Fixed Period Personal Loan will not happen automatically upon full payment of the total amount due.
Is there any free look period for closure of my Fixed Period Personal Loan?
No, there is no freelook period for Fixed Period Personal Loan. Once the loan is converted to a Fixed Period Personal Loan, you will have to contact customer care at care@homecredit.co.in for foreclosure.
How is interest calculated if I convert my Flexible Personal Loan to a Fixed Period Personal Loan between the 34th and 36th billing cycle days?
For customers converting their Flexible Personal Loan to a Fixed Period Personal Loan between the 34th and 36th billing cycle, the interest amount for the current Flexi-period billing cycle (during which the loan conversion occurs) will be included in the first EMI of the converted loan. This amount will be payable on the first installment due date of the Fixed Period Personal Loan.
Why do I need a Credit Score?
Keeping track of your Credit Score helps you stay prepared for future loan requirements. With Home Credit India, you get access to a detailed Credit Health Report and expert credit improvement services through our trusted partner, CreditMantri, for a small fee. A good credit score can significantly improve your loan eligibility and financial opportunities.
What are the benefits of a Credit Health checkup?
With Home Credit India's Credit Health Checkup, you can:
Will I get the Credit Health Report only once a month?
Yes, your Credit Health Report is generated monthly. However, you can download your latest report or previous reports anytime by logging into your dashboard.
What is the cost of Credit Health Report?
Our Credit Health Report is available as a yearly package, where you receive 12 monthly reports in a year, at less than ₹2 per day. Our plans start at just ₹499 per year.
How can I quickly check my Credit Score?
You can get your Credit Score in 3 simple steps:
What role does Home Credit India play?
Home Credit India, in partnership with CreditMantri, brings you an easy and reliable way to monitor your credit health. Our collaboration ensures that you can check your Credit Score effortlessly and take the right steps to improve your loan eligibility.
Can I cancel my subscription midway?
No, once you sign up, you will continue receiving 12 monthly reports. However, at the end of the annual subscription period, you can choose whether to renew the plan.
How can I pay for the Credit Health Report?
We offer multiple payment options like credit/debit cards, net banking, UPI, and mobile wallets. Choose the payment method which is most convenient & faster to you.
Is my data safe?
Yes, your data is 100% safe with Home Credit India. We do not share your data with third-party lenders, other than lenders you have consciously picked.
Which credit bureau is used for the Credit Health Report?
Our partner, CreditMantri, utilizes data from Equifax, one of India's top four authorized credit bureaus, to provide accurate and reliable credit insights.
