Home Credit Review

When it comes to building a family home, I can say that my husband and I are stil...

When it comes to building a family home, I can say that my husband and I are still pretty new to it. There are so many things to be planned and done when it comes to designing the happy family home. But we’re getting there slowly, but surely. :)

Recently, I’ve been acquiring a few appliances that are much needed in our house, one that is a factor in having a good household. But let’s face it, we can’t get every appliance we need in one go, especially if you’re like me, who doesn’t own or want to have a credit card. I personally don’t like to have one despite the many offers at malls, because I don’t like temptations! >_< I want to spend within my budget.


Fortunately, while window-shopping at SM Appliance Center the other day, I spotted a promo called Home Credit’s SM Hulugang Pinagaan. It immediately caught my attention and asked the staff about it.


Home Credit is actually a global consumer financing company that is a responsible loaning service allowing people with little or no credit history to purchase appliances and electronic gadgets through installments. So, if you have no credit card, no problem! :) You can now buy your dream LCD TV, laptop, camera or phone with the help of Home Credit. :)  


How does the application process go? Let me walk you through it, since I, myself, applied for it. :)




 Our house almost has everything we might need, but lately, some of our fans and vacuum broke, so I was on the lookout for both.

The process is just really easy, simple, and fast. All you need to do is to present 2 valid IDs and for as long as you meet the following requirements, you automatically become a candidate to apply for a Home Credit loan.

·      Filipino Citizen
·      Employed (at least 3 months), self-employed, businessman/woman, or receives regular remittance
·      Primary IDs (at least 1 with address) SSS or GSIS, driver’s license, voter’s ID, passport, UMID, PRC
·      Or you can also show them any of your Supporting documents – Philhealth card, credit/savings card, Postal ID, NBI Clearance, Company ID, Remittance slip, Salary Slip, Certificate of employment, Bank/account statement, electricity bill, water bill, phone bill, mobile bill, barangay clearance, Pag-IBIG/HDMF card.

The first thing I did was talk to a Home Credit staff at the SM Appliance store (always ask for a Home Credit Sales Associate) and told her the items that I wanted to purchase through Home Credit. :)



As soon as she was able to take note of the stuff I wanted to get, we went inside their office to fill up some forms and discuss about the loan terms of Home Credit. It was timely since they were also holding their SM Hulugang Pinagaan promo, which presented two loan terms and offers:

·      12 Months – When you diligently pay the first 11 installments on or before the due date, the last month will be FREE!

·      24 Months – Almost similar with the 12 months, but with this, if you pay the first 22 installments on or before due date, the last two months are FREE!


I opted for the 12 months, since the two items I got were only worth Php 7,000. :)  BTW, you can also do a bundle purchase, meaning you can buy 3 different appliances in one go. :)


Upon filling up the form, you will be asked to jot down your details and even people close to you. Like any typical loan service, there will be a little one-on-one interview that can last about 15 minutes and you will be asked what your work is, how much you earn and if you have any pending debts. It’s important that you are 100% honest about this, because Home Credit will be checking the validity of this and it will be the basis whether your loan will be approved or not.


Once this process is done, you will wait for a phone call from Home Credit verifying all the details you gave the Home Credit Sales Associate. After this, it is the waiting game of whether your loan is APPROVED or REJECTED. The approval of this only took 18 minutes, wherein their poster indicates 20 minutes. :)


   Safe to say, I have a good credit standing, because my loan was APPROVED! J  I proceeded with the contract signing and the Home Credit Sales Associate explained to me in detail how I would pay for my loan monthly. :)



After, I proceeded to the counter to pay for the initial cash-out of Php 2,000 and monthly, I will be paying Php 667. :)

Finally, a new vacuum to keep the house clean at all times and a new electronic kettle!





All in all, I am very pleased with the easy, simple, and fast application process of Home Credit. With them, even without a credit card, first-time borrowers can make big purchases yet still have enough money for other daily needs. :)

Now, a house or a car isn’t the only thing you can loan, but appliances and gadgets as well! With this, my family and I can have a great start at building our future home and filling it up little by little. :)


Visit https://www.facebook.com/homecreditph/ for updates and more details!
Artsy Ava

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2 comments♥

  1. Great review, Ava! nice photos too :)

    ReplyDelete
  2. I'm planning to do the same since I noticed their posters all around the malls. :) Great to know that there is someone who had a good experienced in loaning in this company. I should try doing the same also.

    ReplyDelete

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