Home Credit Philippines Review You Should Know

How to borrow money from Home Credit? This is a question asked by many new and old customers of Home Credit finance company but has not yet found an answer. Home Credit is one of the earliest financial companies established and having the highest market share in Philippines. Starting with installment purchase products, but after a long time of operation, Home Credit cash loan products are being selected and registered by many customers. In this article, Fastloans.PH will guide customers in the fastest process, procedure and way to apply for a Home Credit loan.

Table of Contents

What is Home Credit?

Home Credit Philippines’ full name is HC Consumer Finance Philippines, Inc.

  • SEC Reg. Number: CS201301354
  • Certificate of Authority Number 1071 issued 07 April 2017

HC is officially listed in the List of Registered Online Lending Companies in 2021 & 2022

Home Credit officially operating in 2008 with the main field of activity as Home Credit Installment Consumer Loan. Currently, Home Credit PH has quarter at at 11th Floor, Vertis North Corporate Center Tower 1, North Avenue, Bagong Pagasa 1, Quezon City and many other representative offices in all provinces. Home Credit is currently operating with 3 main products, including:

  • Consumer loan
  • Cash loan
  • Credit Card

home-credit-consumer-loan Home Credit Philippines is a member of Home Credit, a multinational company established in 1997, headquartered in the Czech Republic. With total assets of up to 15 billion Euros, thousands of branches worldwide and more than 130,000 employees, Home Credit is confident of having enough financial strength to invest in any country, including Philippines. In Philippines, Home Credit is one of the leading companies in unsecured loan products. Home Credit is a leading consumer loan business in Philippines with low interest rate, high credit limit, and no need to mortgage assets. If you are looking for a FAST consumer loan product, the SIMPLE PROCEDURE definitely cannot miss HOME CREDIT products.

Home Credit loans with low interest rates

The financial market in Philippines is currently extremely active. Besides private credit institutions, state-owned commercial banks are financial companies operating in the consumer loan sector with interest rates ranging from 20% – 50% per annum. Home Credit is a finance company that provides the simplest and easiest loan products when relying entirely on the reputation and credit score of its customers. With Home Credit, you can easily register for a loan with just ID card and household registration or driver’s license. Also do not need any additional documents. It can be said that Home Credit’s loan products are very simple, almost customers do not need to prepare many papers or have to prove their income. Home Credit bases on customer’s CIC credit history to process loan limit approval.

Who can get loan from Home Credit?

Currently, Home Credit is supporting Home Credit consumer loans for 2 main customers:

  • Existing customers: are customers using Home Credit’s services such as installment purchase, installment purchase of motorbikes … Home Credit will rely on that to support customers to borrow money online under installment contracts.
  • New customer: is a group of customers who have never used any of the services provided by Home Credit. Appraisal process takes place quickly, based on the credit history of customers at other financial companies, banks to verify loan application.

Advantages of Home Credit installment loans

Applying for a quick loan at Home Credit has outstanding advantages such as:

  • No collateral is required
  • No need to prove income
  • The loan limit is high, customers can borrow up to 150.000 PHP
  • The preferential interest rate is only 1.66% / month.
  • Loan tenor is flexible, lasts from 6 to 36 months
  • Simple loan procedure, just ID card
  • Receive loans within the day at more than 6,000 transaction offices nationwide.

Home Credit loan requirements

  • Very simple, just meet the following conditions:
  • Being a Philippinesese citizen, aged 20-60
  • There is no bad debt, attention debt at Home Credit or other banks, finance companies
  • Having a good credit history is an advantage

Home Credit cash loan process

Step 1: Contact Home Credit switchboard or transaction offices of Home Credit nationwide Step 2: Submit loan application for appraisal including ID card and driver’s license Step 3: Fill out the loan application completely under the guidance of a consultant Step 4: Wait for application appraisal and receive money at Home Credit’s payment channels such as Post Office or partner banks.

Want to get cash fast and easy?

My Home Credit App Reviews

At the time we collect the reviews from real customer of My Home Credit App, we get both good and bad feedback about them. But in general, they have 4,4 out of 5 in 217,904 total reviews from customer feedback about their service on Appstore, which is a really good rating compare with other online loans. Here are some of the reviews

How to apply Home Credit loans

Borrowing money Home Credit at counters

Home Credit loan at transaction counters is the loan chosen by many customers because they are supported with direct documents, can refer more carefully about interest rates and loan process. Customers borrowing money from Home Credit at transaction counters follow the following steps: Step 1: Prepare all necessary documents such as ID card, household registration book, proof of income … Step 2: Customers come to the nearest Home Credit cash loan registration points and request advice and support for loan application. For a list of registered Home Credit points, please refer here. Step 3: Sign the loan application after consulting. Step 4: Wait for Home Credit to call to verify and approve the loan. Step 5: After being considered for a loan, the customer will be supported by a support staff to sign the contract and guide receiving money. Home Credit Online Loans The registration form via the online loan app is deployed by Home Credit to help the group of customers who cannot arrange the time to register directly.

Home Credit Online Loans

The registration form via the online loan app is deployed by Home Credit to help the group of customers who cannot arrange the time to register directly. To register for Home Credit Online, customers follow the instructions below: Step 1: Download App Home Credit and install it on your phone. Link download on Android Step 2: Sign in to the app after installation, register and fill in phone number information. When accessing “Online contracting” on the client application, follow these steps: (1) Select “Register” (2) Fill in borrower’s phone number (3) Click on the words “What is the contract number” Step 3: Enter the contract number on the application (1) Contact Home Credit via the Customer Service. (02) 7753 5711. (2) After listening to the instructions, fill in the contract number. Step 4: Wait 10 – 15 minutes to receive SMS approval from Home Credit Step 5: After the application is approved, customers will be guided from Home Credit Customer Care staff to the loan registration points to sign the disbursement contract. Step 6: Receive disbursement

Home Credit loan repayment guideline

Customers can pay for Home Credit loan contracts in many different ways. home-credit-repayment

Pay online

Step 1: Go to Pay Now Page Click on the Payments tab on the navigation bar and look for the Pay Now button. Alternatively, you can click on the “Pay my Installments” button on the Cover Advisory Ribbon. Step 2: Enter Home Credit account details Loan Account Number You need to key in the 10-digit Loan account number of the loan contract you want to pay for. It is usually found in the loan document you received when you applied for the loan or from the loan details on your My Home Credit app. Date of Birth You need to key in the 10-digit Loan account number of the loan contract you want to pay for. It is usually found in the loan document you received when you applied for the loan or from the loan details on your My Home Credit app. Mobile Number In case we need to contact you for further clarifications and updates regarding your loan, we would need to know the fastest and easiest way to reach you. Amount to be paid Input the minimum amount for the loan account you want to pay. Note that our payment gateway partner is not accepting payments lower than PHP 100.00. Please check your recommended payment due from your contract summary or My Home Credit mobile app to ensure seamless transaction. Step 3: Choose Payment Option Upon confirming that all details are correct, you will be redirected to our payment partners page to select your preferred payment option from the list and complete your transaction. Step 4: Complete Payment Once payment has been successfully transacted, you will be redirected back to Home Credit page to view your transaction receipt.

Pay over-the-counter

 HC Pay via Mobile App Online Payment
  • Open 24/7
 HC Pay via Website Online Payment
  • Open 24/7
 Palawan Express Over the Counter
  • NCR, Rizal, Cavite, Laguna, Bulacan- 8:00 AM until 4:00 PM and all other branches – 8:00 AM to 5:30 PM
 USSC Over the Counter
  • Open 10:00 AM until 7:00 PM
 Touchpay Over the Counter
  • Open 24/7
 RD Pawnshop Over the Counter
  • Open 8:00 AM – 5:00 PM
 DIGIPAY Over the Counter
  • Open 9:00 AM until 7:00 PM
 7-11 Over the Counter
 RCBC Online Banking Online Payment
  • Open 24/7
 BDO Online Banking Online Payment
  • Open 24/7
  • Open 24/7
 RCBC (OTC) Over the Counter
  • Open until 3PM-Weekdays
  • https://www.rcbc.com/advisory
 BDO (OTC) Over the Counter

Partial Early Repayment

In case you want to make a Partial Early Repayment of your Home Credit loan, please ensure that the following eligibility requirements are met: 1. It has been 15 days since you have signed your loan contract 2. The advance payment would cover at least 2 months’ worth of monthly installments. Interest and insurance will be waived for the months that will be covered by the partial early repayment. If you wish to make a Partial Early Repayment, please inform our Customer Service Department first through chat using the My Home Credit App or Contact Us page.

Full Early Repayment

If you wish to fully pay your Home Credit loan early, we have 2 options for you: 1. Cooling Off Period: Full Early Repayment within the first 15 days after signing If you decide to finish the loan within the first 15 days after contract signing, you can repay the full loan amount without any fees and interest. To process it call our Customer Service Hotline at (02) 7753 5711. 2. Full Early Repayment after the first 15 days upon signing If you decide to finish the loan in full, you can pay the remaining balance without future interest provided that your account is not past due.

What to be notice when loaning at Home Credit

To learn more about the forms of installment loans and loan interest rates of Home Credit, find out what to note when borrowing money at Home Credit below.

Know interest rates for Home Credit loans

The lending interest rate at Home Credit is calculated on the decreasing balance, meaning that the interest is calculated based on the principal amount decreasing over time. The applicable interest rate is from 20% – 50% / year, depending on the specific loan form. When applying for a loan, you need to ask your counselor to clarify what interest rate is applicable to your loan? How much do you pay each month and for how long? Loan term at Home Credit can be extended from 6 to 36 months. Please choose a suitable loan period to have the most preferential interest rate. Some customers wonder why the mortgage interest rate at Home Credit is so much higher than the red book mortgage interest rate. The simplest reason is that when you get a mortgage you have collateral, and you don’t need a mortgage.

Do not borrow money from Home Credit that exceeds demand

Some finance companies often recommend high-credit loans. Loan limit is the maximum amount you can borrow according to your own conditions. However, not so that you should borrow your limit, just borrow with the right amount for your spending and shopping activities. So if in case, the loan limit is not enough for your needs, what about? Now you can take out a loan at another credit institution, the disbursement rate is still normal and it will be reviewed on your application.

Should I have loan from Home Credit Philippines?

To answer this question, we will together analyze some of the following factors and then draw our own conclusions.

Home Credit operates under the management of the State Bank

Why does Fastloans.PH reiterate that Home Credit is a finance company? Have anything to do with the question of whether to borrow money from Home Credit? Easy to understand:

  • Firstly, Home Credit is a financial company operating and under the management of the State Bank. Therefore, the interest rate applicable to installment loans at Home Credit has been approved by law.

Therefore, customers can be completely assured that they will not be charged high interest or hot interest when borrowing money at Home Credit.

  • Second, the main customer segment of finance companies is customers who are ineligible for a loan at the Bank.

So, instead of looking for private loan services, hot loans, borrowing money at finance companies enjoy lower interest rates and is safer, right? SHOULD-I-HAVE-LOANS-HOME-CREDIT

  • Third, in terms of history, Home Credit Philippines is a member company of Home Credit Group, headquartered in the Czech Republic, with total assets up to 15 billion Euro and present in more than 50 countries above. around the world.

So, a company the size but is there a scam? Surely you will also have the answer for yourself. Like other financial companies, Home Credit has a diversified customer segment, from workers, office workers, and self-employed customers … Personal unsecured loan products at Home Credit are also quite diverse, simple and fast profile, not as complicated as some mainstream banks.

Home Credit is the leading financial company in Philippines

Together with many financial companies, Home Credit is one of the earliest financial companies operating in Philippines and has grown steadily up to now. Not only that, but also constantly launched new products and the market share increased continuously. Through the above analysis, do you have the answer to the question “should I borrow money from Home Credit”? And why is there still information that Home Credit finance company is fraudulent? We’ll get to the next one.

Quick and transparent loan process at Home Credit

The loan registration process and loan application approval process at Home Credit only takes 15-30 minutes, but not so without lack of accuracy and clarity. Customers will be fully consulted about interest rates, installment period, contract terms before deciding whether to borrow Home Credit money or not? Does Home Credit scamming their customer? When you type the phrase “home credit scam”, “fraudulent home credit credit card”, “fraudulent home credit employee” or “home credit fraud”, “should I borrow money from home credit” We can see some information about this. But has any information been verified yet? If there is a fraudulent element in the lending activity of Home Credit, why is this finance company growing steadily in both the number of customers and loan products. Why is there information that Home Credit is defrauding customers? There are a few possible reasons for this as follows:

  • Customers when applying for a loan because of urgent financial need without carefully consulting the information. “Close your eyes” to borrow money and then when you can’t stand the financial pressure, there will be false information.
  • There is no clear loan plan, there is no balance between the amount to be borrowed with the income and expenses per month leading to a “default”, unable to pay, being reminded by the debt collection department, then wrong information.
  • Some employees of Home Credit take advantage of the company’s reputation for personal gain such as taking money from customers … leading to unnecessary misunderstandings.


Above is the most accurate and complete information on how to borrow money from Home Credit, customers can refer and apply for a loan. Hope this article has brought useful information to you. In addition, you can also refer to the Loan Product Information Series of financial companies in Philippines compiled by us.

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One thought on “Home Credit Philippines Review You Should Know

  1. karla santillan says:

    hello, may i inquire how much would be the total amount that i need to pay if i will borrow Php 10, 000 wherein i will pay it within 6mos? thank you for your response

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