Home Credit is first and foremost a consumer finance company. There are generally three types of loans.

1. Commodity loan.

Commodity loans are often referred to as installment purchases, including mobile phones, home appliances, electric vehicles, motorcycles, beauty, etc.

Commodity loans generally have shorter cycles and smaller amounts, but the disbursement time is faster.

Take mobile phone installment as an example. A down payment of 3,000 yuan from Home Credit is repaid in 10 months with a down payment of 300 cents. Excluding other expenses, the interest is 300 yuan, and the monthly repayment amount is also 300 yuan.

Why do so many people say that Home Credit’s installment interest rate is very high and the interest is high?

Because Home Credit SA has a double-guarantee assessment (three guarantees for a period of time), a flexible repayment service package, and a personal protection plan

The flexible repayment service package is 15 yuan per month. 7 per thousand of the personal protection plan loan amount.

It is still a 3,000 yuan mobile phone with a down payment of 300 yuan, divided into 10 installments, and an interest of 300 yuan. If you add a flexible repayment package of 150 yuan and a personal protection of 189 yuan, you will need to add an additional 639 yuan in the end. If the loan period is lengthened, the additional fees will be even greater. many.

So when making installments, you must ask clearly what fees are included in the repayment.

2

Cash loan

Home Credit’s cash loan is a cash loan qualification granted to high-quality customers by Home Credit when the commodity loan repayment is good. .

The interest rate of cash loans is relatively high, the payment is fast, and no guarantee is required. The maximum amount reaches 75,000. Use cash loans as little as possible.

If the loan is repaid within 15 days, there will be 0 interest. It is estimated that few people will know this.

3

Super Loans

Super loans are mainly targeted at working white-collar workers with stable incomes. The general limit is 50,000. You can apply online.

Over-loan interest is much cheaper than cash loans, but it can only be applied for by new Home Credit customers. Old customers want to apply, not by others.

Over-loan also has double packages, flexible repayment packages, and personal protection plans (this is also 7 out of 1,000)

Over-loan interest rates are relatively low and are not much different from bank loans. Consider applying.

After March 1, 2018, Home Credit canceled the flexible repayment service package and digital protection plan. There is only one personal protection plan, which is ordinary insurance. When applying for installments, everyone must read it clearly before signing.

After handling Home Credit installment through the downloadable Home Credit financial software, you can clearly see whether the Home Credit sales staff has any extra service packages for you.

Final benefit

Home Credit mobile phone with a price less than 1200 really has 0 interest.

All Home Credit loans can be repaid in advance without interest within 15 years.