Home Credit Cash Loan: How it Works and How to Apply

Venus Zoleta

Venus Zoleta

Last updated February 26, 2024

Are you planning to start a new personal project? Do you need assistance with unexpected expenses?

Fortunately, you have plenty of lenders to choose from these days. However, borrowing can be a huge risk and may take a toll on your budget if you fail to manage your loans well or borrow from the wrong lenders. 

For your immediate cash needs, consider the Home Credit Cash Loan. Read on to learn how to apply for a cash loan from Home Credit.

What is Home Credit? 

how to apply cash loan in home credit - who is home credit

Home Credit Philippines (HCPH)[1] started its operations in 2013 as a consumer finance company. Part of Home Credit Group, HCPH slowly became a popular payment option for big-ticket items like home appliances and gadgets. Since then, the company expanded its operations to include cash loans.

Loans are available to Filipino citizens 18 to 68 years old, with stable incomes as employees, entrepreneurs, self-employed professionals, or pensioners. 

Home Credit Philippines offers two types of loans:  

  • Product loans
  • Cash loans 

How does Home Credit work? Learn more about the loans below.

What is the Home Credit Product Loan?

how to apply cash loan in home credit - what is product loan

Home Credit is known for its core financial product, the product loan. It’s a non-cash loan that allows borrowers to purchase big-ticket items like laptops, cellphones, gadgets, musical instruments, furniture, and home appliances, payable via monthly installments.

Even non-credit card owners can apply for the product loan, making it one of the attractive Buy Now, Pay Later (BNPL) options in the Philippines.

📌 Key Features:

  • Loan amount: Up to ₱60,000 for qualified purchases
  • Interest rate: 0% to 5.99% monthly
  • Repayment terms: Six to 24 months
  • Down payment: 20% to 40%, depending on the price and installment offer 
  • Processing fee: 3% of the loan amount
  • Requirements: Primary valid ID with address and date of birth; if one is missing, a secondary ID bearing the missing information 
  • Store availability: Any of Home Credit’s 14,500 partner stores[2]
  • Brand availability: Apple, ASUS, Oppo, Samsung, Vivo, Xiaomi, etc.
  • Partner merchants: Abenson, FC Home Center, Robinsons Appliances, Silicon Valley, SM Appliances, etc. 

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What is the Home Credit Cash Loan?

how to apply cash loan in home credit - cash loan

Home Credit also provides cash loans for a variety of purposes, such as renovating your home, upgrading your appliances, or paying for your kid's tuition.[3]

Note, though, that the Home Credit Cash Loan is available only to existing Home Credit customers with a good record. You'll receive an offer via text, call, or email. Offers are also available via the Home Credit app.

Want to know how to apply for a cash loan from Home Credit without an offer? Unfortunately, you can't.

Learn more about the Home Credit Cash Loan requirements, interest rate per month, and other features below: 

📌 Key Features:

  • Loan amount: ₱3,000 to ₱150,000 
  • Interest rate: Starts at 1.83%  
  • Repayment terms: Six to 60 months
  • Requirements: Valid ID with home address and reference number
Apply for a UnionBank personal loan via Moneymax


Why Should I Apply for a Home Credit Loan?

Still on the fence about sending that Home Credit loan application? Perhaps knowing its advantages will help you make a decision.

👍 Easy Requirements

You need only one valid ID—in some cases, a secondary ID as well—to apply for a Home Credit loan. You can also improve your chances of approval by presenting any available document that proves your financial capabilities.

👍 Quick Approval

As a consumer finance provider, Home Credit can make loan decisions in as fast as one minute for both product and cash loans.  

👍 Flexibility

From determining the amount of your down payment to choosing an agreeable repayment term, Home Credit allows you to customize your payment plan. Even with a limited budget and without a credit card, you can make a big purchase through monthly installments.

👍 Easy Loan Management

Sign up for the Home Credit app to stay on top of your loans and avoid missing due dates. View loan details, payment schedule and status, and loan offers, among others. You can also chat with a customer rep for any questions and concerns.

👍 Early Repayment Options

There are two options for customers who wish to pay their Home Credit loan early:

Partial Early Repayment 

Go for this option if you want to pay the loan in full within the first 15 days after the contract signing and if this payment would cover at least two months’ worth of monthly installments. You can enjoy waived interest fees! To request its processing, reach out to customer service via the app.

Full Early Repayment

If you can pay off the Home Credit loan after the first 15 days of contract signing, you can pay the remaining balance without future interest as long as your account is not past due.

👍 Insurance Option

Borrowers can also avail of the Borrower Protection Plan (BPP) from Sun Life Grepa Financial, Inc. for their Home Credit loans. Enjoy financial protection for yourself and your family against medical emergencies, hospitalization, accident, and death. 

Read more: Home Credit Review: Surprising Facts to Know About Its Loans

Factors to Consider When Applying for a Home Credit Loan

Decided on getting a Home Credit Product or Cash Loan this 2024? Before signing up for one, consider these pointers to ensure that you’ll maximize the benefits of the loan.

📌 Interest Rate

The company is regulated by the SEC and the Bangko Sentral ng Pilipinas (BSP), so the interest rates applied to the loans are within the cap implemented by the government regulatory agencies. 

Aside from the interest rates specified above, you can take advantage of promos to avail of 0% interest on select products as well.

If you’re expanding your choices, you can explore low-interest personal loan options using Moneymax’s comparison platform. You can apply for a loan via the website directly.  

Read more: 

📌 Debt

The problem with buying gadgets, appliances, and similar items is that they are depreciating assets, which means they lose their value over time. Usually, you won't make money out of them, except if you plan to buy a phone for business use or a laptop for a side hustle.

If you finance a high-ticket item through a loan, make sure you have enough income to sustain the monthly payments. Otherwise, you’ll find yourself struggling to find ways to repay your installments.

📌 Possibility of Rejection

Just like any lender, Home Credit checks the credit history and score of borrowers with the Credit Information Corporation. This means you’ll likely be rejected if you have unpaid loans reflected on your credit report.

📌 Late Payment Fees

It’s not enough that you pay on the due date itself. Home Credit recommends paying the monthly installments at least three days in advance.

Late payments can lead to extra fees and the possibility of getting declined when you apply for another Home Credit loan.

  • Any time after your due date: ₱200
  • Past due date for 30 days: ₱400
  • Past due date for 60 days: ₱600
  • Past due date for 60 days: ₱800

How to Apply for a Home Credit Product Loan in 2024

The loan process is straightforward: shop for the item you want in-store, purchase it with the help of a sales associate, wait for the loan decision in less than a minute, make the down payment, bring home your item, and pay the installments every month.

You can also start your application via the Home Credit App. Proceed to the store to continue your application. 


How to Apply for a Home Credit Cash Loan in 2024

There are three ways to apply for a Home Credit Cash Loan. Choose the most convenient loan application method for you.

👉 Via the Home Credit App

how to apply cash loan in home credit - home credit app

Step 1: Log in to your app. If you don’t have it on your phone yet, download it via the Google Play Store.

Step 2: Once you’re on the home page, click the Cash Loan banner.

Step 3: Indicate your preferred loan amount and specify the desired number of months for loan repayment. After reviewing the details, tap Continue.

Step 4: You'll be directed to the Home Credit application form. Supply your personal information and prepare your valid ID.

Step 5: Make sure that all details are correct and accurate. Once you’re good, tap Submit.

Step 6: After minutes of submitting your application, you'll see the status of your application. If your application has been approved, your screen will show the Sign the Contract button.

Step 7: Tap the said button to sign your cash loan contract. Once you’ve signed the contract, you'll receive a text message from Home Credit detailing how you'll claim the loan proceeds.

👉 Via Home Credit Cash Loan Hotlines

You can also apply for a Home Credit Cash Loan via any of its contact numbers:

  • Telesales Hotline: (02) 7753 5714 
  • Smart, PLDT: 1 800 10 234 3000 
  • Globe and TM: 1 800 8 905 0303

Follow the instructions of the telesales agent to finish your Home Credit Cash Loan application. For contract signing, remember the following steps:

Step 1: Wait for the text message that will indicate the status of your application. If your application is approved, the text message will have a link that will direct you to the mobile application or website to sign the contract.

Step 2: Click the link to go to the log-in page of your contract. Once you’re there, type in the Loan Account Number found in the text message. You'll also be required to type in the mobile number that received the text message.

Step 3: After providing the details mentioned in Step 2, click Log In. You'll then be directed to the cash loan contract. Read everything carefully, especially the Terms and Conditions.

Step 4: After reading the contract, click the check box in the Terms and Conditions section. Then click the Next button.

Step 5: You'll be redirected to another page that requests a One-Time-Password (OTP). Check your cellphone to see if you’ve received the OTP. Type the OTP into the box and then hit the Submit button.

Congratulations, you’ve signed the loan! The next page will show the steps on how you can claim your loan proceeds.

👉 Via Partner Stores

Here's how to apply for a cash loan from Home Credit in-store:

Step 1: Choose any of Home Credit’s partner stores.

Step 2: Approach a Home Credit sales associate at the store. If you’ve received a loan offer from Home Credit and you want to use it, show the text message from Home Credit. Don’t forget to bring your two valid IDs.

Step 3: Let the sales associate process your application.

Related articles:

Apply for a personal loan through Moneymax

How to Claim Your Home Credit Cash Loan Proceeds

Once your Home Credit loan application has been approved, you'll receive a confirmation via text message. You can claim the proceeds of your loan in two easy ways:

💸 Bank Transfer

The cash will go straight to the nominated bank account. For this option, make sure to bring proof of your bank account when you apply. Check this list for Home Credit's bank partners.

💸 Pick Up

Receive your cash at any of Home Credit’s disbursement partners. Bring two valid IDs when claiming the money. 

Currently, you can go to the following Home Credit disbursement partners:

  • Bayad Center
  • Cebuana Lhuillier
  • LBC
  • Metrobank
  • USSC

How to Apply for a Home Credit Cash Loan: FAQs

how to apply cash loan in home credit - faqs

1. How do I contact Home Credit?

The fastest way to send a message and get a reply from Home Credit is to use its 24/7 live chat service. Simply go to the Home Credit homepage at www.homecredit.ph and click Chat with us. Select or type the appropriate response to the questions that appear in the chatbox.

If you wish to speak directly with a customer service representative, you may call (02) 7753-5711 (Globe) or (02) 8424 6611 (PLDT).

2. How will I know if I’m qualified for a Home Credit Cash Loan?

As mentioned, only existing Home Credit customers with good payment standing are eligible for a cash loan. To see if you’re eligible for a Home Credit cash loan offer, download the My Home Credit app via Google Play Store and register.

3. Can I apply for another Home Credit loan with an existing loan?

Already have an existing loan with this provider? If you're wondering if you can reapply, yes you can, as long your current loan is about to end. 

4. How to check my remaining balance?

There are two ways to stay updated on your account:

📱 Via the Home Credit app

  1. Access the app and log in to your account.
  2. Select My Account to view the summary of your account and transactions.

💻 Via My Payment Portal on Home Credit’s website

  1. Visit the Home Credit website and go to My Payment Portal.
  2. Look for Sign to My Payment.
  3. Type in your Loan Account Number and Date of Birth.
  4. Click Log Me In.

5. Can I settle my payments through direct debit from my bank account? 

Yes. You can opt for an Auto Debit Arrangement (ADA) to make your monthly loan payments. Once arranged with your bank, your account will be debited the monthly repayment amount before the due date. 

Here are the participating banks:

  • BPI
  • Metrobank
  • PNB
  • RCBC
  • Security Bank
  • Unionbank

Upon application, inform the sales associate you want to avail of ADA. 

6. What are the other payment options for Home Credit Loans?

The company accepts over-the-counter loan payments at different bills payment centers and remittance centers in the Philippines:

  • 7-Eleven
  • AUB
  • Bayad Centers
  • Cebuana Lhuillier
  • M Lhuillier
  • Palawan Express
  • RCBC ATM and over-the-counter
  • Rustans
  • Touchpay
  • True Money
  • Villarica Pawnshop
  • USSC

You can also pay online through these channels: 

  • AUB Hello Money
  • AUB Online
  • Bayad PH App
  • Cebuana Xpress
  • CIMB
  • Coins.ph
  • GoTyme
  • Maya
  • M Lhuillier Online Wallet
  • Palawan Pay
  • RCBC Online
  • Shopee
  • Super U App
  • UnionBank Online

When paying your monthly dues, make sure to follow these guidelines:

  • Get the correct loan account number. Always have a copy of your loan account number to make sure that your payment will be posted on the right borrower’s contract. 
  • Pay three days in advance. Payment delays are inevitable. If you pay three days earlier than your due date, it will be posted on time and save you from penalties. 
  • Include transaction fees. Home Credit payment partners may charge a minimal processing fee. 
  • Keep your receipts. Your receipts are proof of payments. They can be used to support claims on unposted payments. 
  • Review your payment schedule. Payments that aren’t stated in your payment schedule won’t be considered valid. Make sure to pay according to your contract details and payment schedule.  

7. What should I do if my payment was not posted?

If you’re sure you’ve provided all the correct payment details and your payment still hasn’t been posted after three business days, send an email to info@homecredit.ph and provide the following information:

  • Loan account number
  • Full name
  • Date and time of payment, payment channel, amount, and other important payment details 
  • A soft copy of your payment receipt

8. Can I get a discount if I pay my loan in advance?

No. Home Credit doesn’t offer discounts for advance payments. 

Final Thoughts

Home Credit loans can also help you get out of a tough spot. Fortunately, the process of how to apply for a cash loan from Home Credit is easy and hassle-free.

However, before you apply, be mindful and consider how it will affect your finances. The right attitude towards loans will help you maintain your financial health and security.

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Venus has almost 20 years of combined experience in content marketing, SEO, corporate communications, and public relations. Most of her career was spent creating informative articles on personal finance and digital marketing. She also invests in stocks, mutual funds, VUL, and Pag-IBIG MP2. Venus graduated cum laude with a Journalism degree from the University of the Philippines Diliman. A hardcore Hallyu Tita, she loves bingeing Korean shows on Netflix while bonding with her cats. Follow Venus on LinkedIn.


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