Home Credit Cash Loan Late Payment Penalty: Here’s List of Fees Based on Loan Amount

Guide on Home Credit Cash Loan Late Payment Penalty Based on Amount of Loan

HOME CREDIT CASH LOAN LATE PAYMENT PENALTY – Here is a list of the late penalty fees implemented by Home Credit based on the loan amount.

In the Philippines, one of the entities that you may turn to for a cash loan is Home Credit. Many people have obtained some money through its cash loan offer which offers different loanable amounts based on the assessment of borrowers.

One of the best features of this cash loan offer is that the approval and release of the loan proceeds can all happen in the same day. In fact, your loan application can be approved in as fast as less than five (5) minutes since the submission.

Do you want to know how to apply for this cash loan offer? You may visit – How To Apply for Home Credit Cash Loan & the Requirements in Applying.

Like in other loans, there are fees implemented by Home Credit in case the borrower fails to pay for the monthly amortization on his or her due date. The loan amount is a factor on the penalties.

If your loan amount is less than P8,000.00, here are the late payment penalties:

• Collection Charge – P200.00
• past due for 30 days – P400.00
• past due for 60 days – P600.00
• Termination Fee – 40%

If your loan amount is P8,000.00 and above, here are the late payment penalties under the Home Credit Cash Loan:

• Collection Charge – P300.00
• past due for 30 days – P700.00
• past due for 60 days – P1,000.00
• Termination Fee – 40%

The conditional fees and charges set by Home Credit Philippines are subject for changes. If the penalty is charged at 90 days past the due date of the loan, it is based on the unpaid principal amount of the loan. If it is charged from 120 to 270 days past the loan due, it is based on the unpaid principal amount of the loan.

For convenience, a lot of Home Credit clients prefer paying through the “My Home Credit” app. It suits best those who have busy schedules and have no time to go to any store with the billing machine. For a guide on how to pay for your loan due through the app, you may visit – Home Credit Loans: How To Pay Using “My Home Credit App”.