How a Home Credit Cash Loan Works and How to Apply for One in 2022

How a Home Credit Cash Loan Works and How to Apply for One in 2022

Sometimes, a Credit cash loan can be the only way out in difficult financial situations. In some emergencies, you might wonder where you can get a loan at affordable rates.

Home Credit Philippines is a company that provides credit facilities for individuals within the country. It provides one of the best loan app Philippines can offer its citizens. 

Filipino citizens can now bail out a financial crunch at affordable interest rates. If you have wondered how a home credit cash loan works and how to apply for one in 2022, this article has the answers.

It is always wiser to invest in a home since it helps you cut costs and is not a liability. Whatever the purpose is, you are covered with the low-interest package available.

Loans are available for users in the age bracket of 18-68 years.

Home Credit gives users access to loans to cover their financial needs. According to the latest statistics, up to 44.6% of the share of residential property loans granted for new housing units in the Philippines were used to acquire condominium units.

Percentage of residential property loans granted for new housing units in the Philippines as of the 4th quarter of 2021, by type of housing unit

Home Credit Cash Loan


Note that you can only access this assistance if you are an existing customer on the platform. Also, your credit ratings must be good, featuring timely repayments. 

Here are essential features of this advance to take note of.

RequirementsA valid government-recognized ID card bearing your current home address
Repayment TermsBetween 6 to 60 months intervals
Interest RatesFrom 1.83% monthly on a 12-month loan
Amount Starting from ₱3,000 to ₱150,000
Originator Fee₱500 (upfront fees for the application process)

How to Apply Successfully for a Home Credit Cash Loan?

There are three methods to access this loan; you are better off choosing what works for you.

Download my Home Credit App 

  • Visit the Apple AppStore for iPhone users and Google Play Store for android users. Download the Home credit loan app and open the app.
  • Download the app and log in.
  • On the homepage, click on the Cash Loan logo.
  • Select your desired amount, then indicate the month’s repayment time.
  • Cross-check, then click on continue. 
  • The page will automatically take you to an application form.
  • Fill in your personal information on this form and keep your valid ID card close by.
  • Confirm your details and check for errors. Click on submit.
  • Your application status will be communicated to you in a few minutes. If your records are good, it is likely going to be successful.
  • Once approved, click the Sign the Contract button on your device screen.
  • When your signing is completed, you will receive a message on how you will collect your money.

Walk into Partner Store

You can also make an application in person by visiting a partner store of Home Credit. You must go along with two valid ID cards and follow the sales attendant’s guidance.

Over the Phone

You can apply for a loan easily. (02) 7753 5714 Telesales Hotline, 1 800 10 234 3000 – Smart, PLDT, Sun, TNT and 1 800 8 905 0303 For Globe and TM users. Follow the agent’s directives over the phone to start the application process.

How to Claim Your Cash for the Loan?

You can opt for a bank transfer or physical collection to receive your home credit loans. For bank transfers, the money will be sent to your preferred bank. 

However, you must use a bank listed on the Home Credit website for effective disbursement. 

Also, you can choose to receive your cash directly from any Home Credit disbursement center. All you need is a valid identity card. 

Their disbursement partners are USSC, Metrobank, LBC, Bayad Center, and Cebuana Lhuillier. 

You can easily receive your requested amount with any of these three methods. However, if you fail to collect the amount in seven days, the contract will become invalid. 

Benefits of Home Credit Loans

Home Credit loans have numerous benefits that include: Simple requirements, fast approval, flexible options, and early repayment benefits.

          Benefits       Details
Simple requirements:With a valid ID card or a document showing your financial capacity, you are on your way to receiving a generous loan offer from Home Credit.
Approval In less than five minutes after your application, you will get feedback if it was successful.
Flexible OptionsWith Home Credit, you can create a custom payment plan which suits you best. With this feature, you can spread your repayment over a time frame of months. 
Early repayment benefitsEarly repayment gives users two options to choose from.
Full early repayment: This kind of repayment is done after the first 15 days of the initial contract.
All payments are interest-free if you pay before the due date.
Cooling-off Period: If you pay your total amount within the first 15 days of the contract, you will not be charged any interest or fees.

Factors to Consider Before Applying for a Home Credit Loan

Interest Rates 

Home Credit has special interest rates on cash loans; they are government-regulated and reviewed. Therefore, they are reasonable.

Poor Credit Scores Bring Rejection

Home credit works with their client’s credit scores before disbursing loans. A poor score will likely reduce your chances of getting a loan from the company. Poor scores are acquired by having unpaid debts or late payments.

Late Payments Have Penalties

Late payments attract penalties, and it is advised that you pay your monthly installments three days before time. 

There is various degree of penalties depending on how late your payment is. They include

  • Collection Charges ₱200
  • 30 days after the due date ₱400
  • 60 days after the due date ₱600
  • A termination fee of 40%
  • These apply for loans below ₱8,000 for those at ₱8,000 and above:
  • Collection charges ₱300
  • 30 days after the due date ₱700
  • 60 days after the due date ₱1000
  • A termination fee of 40%

These fees are all subject to change periodically.

Regarding security and confidentiality, your information is in safe hands. 

They will never sell or share your information with any third party. In 2020, Home Credit was fined by the Commission for a confidentiality and security breach resulting from the unauthorized disclosure of the personal information of one of their employees.


When it comes to financing your dream home or making other personal expenses can be thrilling yet demanding. Home Credit loan offer users access to one of the best apps.

One benefit is that they offer flexible repayment options and even an insurance option for users to insure their loans. Advances are disbursed quickly and do not require extensive documentation. 

Also, you can access them through the app, over the phone, or physically in a Home Credit Loan partner center office close to you. 

The company has brought financial solutions to your doorstep; sign up today.

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