Details about the Home Credit Cellphone Loan Downpayment for New, Existing Clients
Here is a guide on how much you must prepare for downpayment in applying for a Home Credit Cellphone Loan.
Nowadays, one of the most popular lenders in the Philippines is Home Credit. Truth be told that its product financing service or loan offer is the major contributor for its massive and rapid popularity in the country. Surely, the other reason is that its offers meet the demands of the public.
With regards to the product financing service of Home Credit, it is open to finance the purchase of gadgets like cellphones, laptops and desktop computers, furniture, and appliances. Undeniably, most of its clients availed the loan offer for the purchase of a cellphone.
For existing clients of the lender who have good credit records, there may be offers that waives the Home Credit Cellphone Loan downpayment. In the case of new clients, the downpayment is usually between 20% to 40% depending on the price of the item.
For example, if the price of the cellphone is P10,000, you will be required to make a downpayment of between Php 2,000 to Php 4,000 depending on the calculation of the lender. Meanwhile, the range is the standard range for Home Credit Cellphone Loan downpayment thus there is nothing to worry about the downpayment going beyond 40% of the item’s price.
The product loan offer of Home Credit Philippines is open even to clients who have existing loans with HC. In fact, the lender itself sends offers for good-paying clients.
Home Credit Philippines usually extend the offer through a notification on the client’s My Home Credit app or through an SMS message. The lender also sometimes calls the client to make follow-ups on the decision regarding the posted offers.
The maximum loanable amount depends on the offer of Home Credit Philippines. Most often, the lender extends up to P40,000 product loan limit for good-payers despite having existing accounts.
