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Home Credit: Information, Eligibility Criteria, Interest Rates, Review & More

Home Credit Information, Eligibility Criteria, Interest Rates, Review & More

If you are looking for quick and instant personal loans, you must download the Home Credit app on your smartphone and explore the platform. The starting rate of interest on a Home Credit Personal Loan is 2% per month. Furthermore, you can get a loan amount of up to 5 lakhs and also get a loan tenure of up to 51 months.

The best part about HomeCredit Finance is that you will get personal loans within a matter of minutes after your document verification is done. In this article, we will mainly discuss the various loan-related features of Home Credit, its rate of interest, the eligibility of the borrower, and customer reviews. Hence, read on through to the end of the article to get fully informed.

Home Credit – General Information  

Home Credit – General Information

If you want to avail of loans from the Home Credit platform, you will need to show your documents to the lenders on the platform. Home Credit is a non-banking financial company, and it claims to provide loans at low-interest rates within only a few hours of application for the loan.

If you apply for a loan now, you will get your loan within a few hours. However, your personal documents must be verified, and you will have to show your reason for availing of your loans. On the other hand, you will also need to make sure that all the documents you provide are true, and you will also need to provide your scanned photo and your current selfie.

Home Credit – Personal Loan Highlights And Loan Features  

The following are the major highlights that will give you a better idea of the loan features of the Home Credit personal loan platform:

Home Credit Personal Loans
Loan AmountUp to ₹5 lakhs
For existing Home Credit BorrowersMinimum: ₹10,000Maximum: ₹5,00,000
For new Home Credit BorrowersMinimum: ₹25,000Maximum: 2,00,000
Rate of Interest On Loan2% per month onwards
Loan Tenure– For existing Home Credit Borrowers: 9 months to 51 months
– For new Home Credit Borrowers: 6 months to 48 months
Minimum Income to Avail Loan₹10,000
Loan processing fees      0% to 5% of the Principal
Foreclosure feeNone
Flexible Personal Loan Processing Fees2.5% of the loan amount
Home Credit India Address (Home Credit office near me)DLF Infinity Towers, Tower C, 3rd Floor, DLF Cyber City Phase II, Gurgaon-122002, India
Home Credit customer care number Delhi+91 – 124 – 662 – 8888 (Between 9:00 AM – 6:00 PM, All Days)
Emailgrievanceofficer@homecredit.co.in

Home Credit – Late Payment Charges (Personal Loan)  

Annualized PercentageStarts From 24%
Number of days due1 day30 days60 days90 days120 days150 days180 days
Late Payment Charges₹350₹450₹550₹750₹750₹750₹750
Total Late Payment Charges₹350₹800₹1350₹2100₹2850₹3600₹4350

Home Credit – Eligibility And Required Documents  

The followings are the eligibility and the required documents needed at the time of availing loans from Home Credit:

Eligibility- If you want to avail of loans from Home Credit, you must fulfil the below-mentioned eligibility:

  • Must be a citizen of India
  • Must be either of the three: Salaried employee, Self-employed individual, or pensioner.
  • Must be aged between 19 to 68 years.
  • Must have an active bank account.
  • At least 90 have passed since the last Home Credit loan application.

Required Documents- The following are the documents you need to have for verification of Home Credit personal loans:

  • PAN Card
  • Address Proof: Voter ID Card/ Driver’s License/ Property Tax Receipt/ Passport Government House Allotment Letter.

How To Download Home Credit App?  

How To Download Home Credit App

The following are the steps you will need to follow to download the Home Credit Loan App on your smartphone from Google Play Store:

Step 1: Open Play Store on your Android smartphone.

Step 2: On the search bar, type “Home Credit.” Tap on the “Home Credit: Loan App” option. (You can also apply for Home Credit loans by going to the following website: https://www.homecredit.co.in/en/home)

Step 3: Tap the install button, and then let the download and installation process take place.

Step 4: Once the Google Home Credit app is installed on your smartphone, you can start the app and then do a Home Credit loans login to get access to the variety of loan options.

Home Credit – Top Borrower Reviews  

The following are some of the interesting reviews by Home Credit borrowers that must be helpful for you:

“WORST EXPERIENCE WITH HOME CREDIT . THESE GUYS IRRITATE THE CUSTOMERS AND DEDUCT AMOUNT REGULARLY FROM BANK ACCOUNT. FORCED FOR THE VALUE ADDED SERVICES AND DONT REFUND AMOUNT. I REQUESTED TO ALL OF U PLEASE DON'T TRUST ON HOME CREDIT FINANCE.”
BY :- JITENDRA MEENA
“DON'T TAKE ANY KIND OF LOAN , SERVICES BAD , HIDDEN CHARGES , INTEREST PERCENTAGE VERY HIGH., AND CUSTOMER SERVICE REPRESENTATIVE VERY POOR CATEGORY.”
BY :- bagderahul04
“I LIKED HOME CREDIT MINI CASH LOAN OPTION VERY EASY PROCEDURES. I TAKEN MINI CASH LOAN FROM HOME CREDIT FOR MY SON SCHOOL FEES ON THAT IT'S REALLY HELPS ME. I GOT 2 DAYS DELAY TO GET CREDIT BUT REALLY HAPPY WITH HOME CREDIT. I THINK THIS IS THE FIRST FINANCE GIVEN THIS TYPE EASY PROCEDURE TO GET LOAN. THANKU”
BY :- MANJU6431
“I HAVE PURCHASED 2 MOBILE PHONES THROUGH HOME CREDIT INDIA WITH ZERO DOWN PAYMENT. ONLY A SMALL AMOUNT OF PROCESSING CHARGES. MINIMUM DOCUMENTS REQUIRED FOR THIS. AND THEY ALSO PROVIDE A SMALL FINANCE OF RUPEE 10000 FOR IMMEDIATE EMERGENCY. IT WILL BE AVAILABLE QUICKLY.”
BY :- NEENU1234

Summing Up  

As you have seen from the reviews of Home Credit in this article, the reviews related to the Home Credit app are mixed. However, you can also read popular reviews of Home Credit loan borrowers. If you see any hidden charges on the loan you are taking, ensure that you ask for full information. Make sure to read every piece of information related to the loans properly before you avail yourself of the loan from Home Credit. Although the app looks genuine, and the platform is certified, the borrower reviews say it all. Have you taken loans through the Home Credit app? Share your experience with us in the comments section below.

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How To Start A Concession Stand Business?

How To Start A Concession Stand Business? – A Complete Guide

Do you want to commence your Concession stand business? Are you ready with your business plan and its prospect? If not, you have to understand the basics of this business to grow your business in the correct direction. You have to work on your plans well before establishing your business. One of the beneficial aspects of the Concession business is that it requires lower startup costs. Now, If you want to increase your profitability in the food service industry, then the application of the concession stand can work well in your friend. The Concession stands location will determine the ongoing success of your business. You have to chalk out a full-proof strategy to increase your profitability. How Much Does A Concession Stand Cost? Its cost depends on two factors:- Do you want to buy a used cart or, You want to build it from scratch. A new medium-sized concession stand will cost you around $11000 -$21000. 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Write A Concession Stand Business Plan Once you get a general idea about what kind of business you want to operate, now it’s time to figure out your business plan. For your concession stand, your business plan will act like a blueprint upon which the growth trajectory of your business will depend. It will help you make the right kind of investments without wasting too much money and time. A solid business plan for your concession stand will help you to gain most of the crowdfunding and other investors as they can gain a clear insight into your business growth in the upcoming days of your business. Also Read: How To Create A Powerful Business Models For Your Business 3. Arrange Funding For Your Concession Stand With a proper business plan in place, you will get the right idea of how much money you require for your business. If you want to launch a small concession stand business, your funding is enough to finance it. 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Fiscal Sponsorship

Fiscal Sponsorship – Everything You Need To Know About It In 2021

Many of us are confused about the fact about fiscal sponsorship? You must adequately consider these facts to help your business grow properly. If you are curious about the fiscal sponsorship, you must consider specific vital facts in light of this matter. The fiscal sponsorship agreement will help your brand to get tax relief. For your fiscal sponsorship, you need to make a formal arrangement under article 501(c)3 as per public charity and project sponsors. It allows you to seek the grants, and it must allow the process of the tax deductions from your end.  There are several aspects that you must know from your end. What Fiscal Sponsors Do Actually? There are several types of responsibilities that fiscal sponsors have to carry on from their end. If you want to get the sponsorship, then you must know these facts from your end. 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Youtube Sponsorship

Youtube Sponsorship – Everything You Need To Know About It In 2021

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A Similar Target Audience  Having a similar target audience is an essential factor that your sponsor must consider for your YouTube sponsorship.     Your sponsor will offer you the sponsorship if your channel offers content related to your target audience. You must not make things haphazard from your end. If you want to develop your business and your target audience’s attention, then your Youtube video content must showcase the sponsor’s interest.    You must take a look for the type of people those who watch videos that you must look for like:  Consider the fact how old are they?  What is your prime interest? Where do you conduct your shopping?  What is the habit of your spending?  What do you do for a living?  What do the other brands love?  Once you have this information, you must consider these facts to help your business grow in the right direction.  3. Quality Of The Content  You must focus actively on the quality of the content. If your content quality is worse on the Youtube Channel, you will not get the YouTube Sponsorship. You need to understand that if you want to develop your business, you must focus on the quality of the content.   Companies do not want to associate with brands whose quality of content is not up to the mark. You need to ask for sponsorships while you have low-quality content with you. If you have low-quality content, then it can get blacklisted at a certain point in time.  Before you reach out to the sponsors, you must do a quality audit. You must look at the content, and you must do quality research before you put the content on the YouTube channel. Another essential way to do content research is to review the quality of the content better.  4. Create Affiliate Sponsorship  You must create an affiliate sponsorship in such a way so that it can help your business to grow effectively. Ensure that you have made your choices in the right direction. It will help your business to grow in a better manner.    The whole idea here is to track your target audience to track the product you are linking to. You must consider the affiliate landing pages to buy the products in a better manner. There are multiple affiliate sponsorships for YouTube that you must include.  Amazon  Target  Skillshare  Movavi  pointsprizes.  Here, you need to develop the perfect branding process to get the YouTube sponsorships in a better manner. You must consider these issues properly so that you can get the YouTube sponsorships in the right order.    5. Promote For Selling Digital Products  You must promote your digital products so that they can help your business grow in a better manner. YouTube Sponsorships will help your business to grow in a better manner. You need to understand things properly so that they can help your business grow in a better manner.    You must not consider some of the crucial facts of YouTube Sponsorship for granted. It will help your business to grow in a better way. You must not consider facts casually from your end. Ensure that you have made the right choices from your end. Do not make a mess out of it.  If you want to develop your brand image, you must consider these factors to ensure that you have made the right choices.    What Type Of Digital Products Must You Sell?  You must consider buying the digital products depending on the sales and possible endless opportunities that can help your brand get the YouTube sponsorship better.    There are certain things like software, photography, ebooks, and other digital products you can sell using YouTube Channels. 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Periodic Inventory System

Periodic Inventory System: What Is It, How It Works, Applications, And More

The periodic inventory system is the method through which a business does a valuation of its inventory. Here, the business updates its inventory account at the end of each accounting period and not after each sale, wholesale, or purchase. The main advantage of this system is that it helps the business track its beginning and ending inventory within an accounting period. In this article, you will learn about what a periodic inventory system is in general. Apart from that, you will also learn how a period inventory system works. In addition to that, you will also learn the difference between a periodic inventory system and a perpetual inventory system. Finally, you will learn how to use such a system in your business model. Hence, to learn more about this system, read on through to the end of the article. What Is A Periodic Inventory System? Investopedia defines – “The term periodic inventory system refers to a method of inventory valuation for financial reporting purposes in which a physical count of the inventory is performed at specific intervals. As an accounting method, periodic inventory takes inventory at the beginning of a period, adds new inventory purchases during the period, and deducts ending inventory to derive the cost of goods sold (COGS).” The best thing about a periodic inventory system is that it is easier to implement. Apart from that, it is also a cost-effective option for companies that are usually small in size. Another major advantage of a period inventory system is that it helps the business manage risks in the supply chain better. It is an accounting technique where the accountant updates the count of the physical inventory at specific intervals. One can execute a period inventory count monthly, quarterly, and annually. Here, the accountant does not update the account regularly or after each sale of products and services. However, this system of accounting is a great option for small businesses only. When it comes to larger companies, they use the perpetual inventory system. Here, the companies update their inventory lists regularly (or after each sale). How Does A Periodic Inventory System Work? The inventory of a business is nothing but the goods that the company has in its hand, and it can make them available for sale. In general cases, a business holds inventory in the normal course of business. Furthermore, the inventory is also one of the most valuable assets of the business. This is because those inventories create the primary source of revenue for the business. According to FreshBooks.com, “In a periodic inventory system, no continuous record of changes is kept. The yearly inventory purchases are recorded in the purchases account, which is a ledger listing all inventory purchases and their costs. At the end of the year, a physical inventory count is done to determine the ending inventory balance and the cost of goods sold.” In this accounting system, the business keeps a physical count of inventory at certain periods of time. With the periodic inventory system, the time is mostly monthly, quarterly, or annually. This means that the company that uses this system tracks its inventory at hand both at the beginning and the end of a specific accounting period. Here, the company does not track its inventory on a regular basis or during sales. With this inventory system, the company also finds it easier to track the costs of all the goods sold. This inventory updating system is popular among smaller companies that do not have the necessary tools and manpower to conduct regular updates of inventory. Also, these companies have smaller quantities of inventory. Periodic Inventory System Vs. Perpetual Inventory System In the periodic inventory system, the company does not have full information regarding its levels of inventory. Apart from that, it also does not know all the costs of goods sold until the completion of the physical count process. Hence, this system is the best option for businesses that have a smaller number of stock-keeping units (SKUs). Furthermore, the company also needs to operate in a market that plods. In other cases, the perpetual inventory system is a better option for all. The following are the major differences between a periodic inventory system and a perpetual inventory system: The perpetual inventory system updates the inventory asset ledger on a regular basis or after each sale. As a result, the management gets an instant view of the inventory. On the other hand, the periodic inventory system is more time-consuming and does not get updated information. With the help of the perpetual system, the company can always keep its COGS updated. On the other hand, the periodicity of the periodic system makes it less useful when it comes to staying updated. The perpetual system tracks individual items in the inventory. Hence, it is easier to locate defective items quickly. However, the periodic system does not help in this regard. When To Use A Periodic Inventory System? According to Netsuite.com, “Any business can use a periodic system since there's no need for additional equipment or coding to operate it, and therefore it costs less to implement and maintain. Further, you can train staff to provide simple inventory counts when time is limited, or you have high staff turnover.” However, the periodic system is most suitable for small companies with a low number of SKUs. This is because such a business is not concerned fully about scaling its business at the given moment. Apart from that, based on your needs and the types of products you deal with, you can use a periodic system along with a perpetual inventory system. Furthermore, if you have good control of your supply chain system and you sell only a few products, then the periodic system is the better option for you. Wrapping Up The periodic inventory system is the best option for only those companies that deal with only small quantities of goods. Apart from that, companies that are not looking for scale at the moment and have only a limited number of employees must use this inventory accounting system. Do you have more suggestions on how to use the best inventory accounting system? Consider sharing your ideas and opinions with us in the comments section below. Read More By Clicking Below!! What Is Bottleneck In Business? Everything You Should Know About It What Is Free Alongside Ship? Essential Things To Know About It Cost Insurance Freight? Everything You Should Know About It