Guide on Home Credit Loan Early Repayment – What You Need to Know
HOME CREDIT LOAN EARLY REPAYMENT – Here is a guide on the two (2) options should you wish to pay your loan in full early than its maturity.
One of the lending firms that most people turn to for loans is Home Credit Philippines. Undeniably, the company rapidly grew across the nation and many Filipinos like the easily-attained qualifications and the shortlist of requirements in applying for its loan offers.
Several stores in the different malls across the nation are also partners of Home Credit. The lending firm has deployed staff that are ready to assist the borrowers in their loans thus the application process is really very easy. It has several loan offers – cash loan and product loan being the most popular takes.
You may apply for a cash loan to Home Credit Philippines to fulfill other purposes apart from buying a gadget, an appliance, furniture, or any purchase that can be made with its partners. Meanwhile, you may also apply for a product financing offer should you wish to buy a certain gadget or item but want it on an installment basis.
Under the product financing loan, you only need to prepare a certain percentage of the item’s price as a downpayment. The balance will be paid in monthly installments. To check on how much you must prepare for the downpayment, you may visit – Home Credit Loan Downpayment – How Much You Must Prepare.
To apply for a loan to Home Credit, you must be of legal age with a reliable source of income. It is open for individuals who are either employed, running a business, or receive pension and remittances. You may pay for the loan for up to 18 months.
In case of change of mind regarding the loan term and you want to finish your loan early, you may go for a Home Credit loan early repayment. There are two (2) options and it would depend on the time when you decided to finish your loan in full.
Home Credit Loan Early Repayment
- Option 1 – Cooling Off Period
- “You may pay the entire loan principal of any Home Credit lending product 15 days upon signing the Loan Contract without incurring any interest.”
- Option 2 – Full Early Repayment
- The full early repayment will recalculate your interest and also lessen your terms of payment significantly.
You may also visit – HOME CREDIT CASH LOAN – Are There Hidden Charges? Here’s the Answer
