Home Credit personal loan comes with an amazing Value Added Service called “Safe Pay”, which offers payment holiday, early foreclosure and Life Insurance benefit. The fee for this service will be included in your monthly instalments.
Payment Holiday
This facility allows to postpone the monthly instalment by a month. Customers are eligible for Payment Holiday after paying first 2 EMIs on or before the due date. The payment holiday service can be used twice per year during the loan term and at least 6 EMIs should have been paid between the two services. The loan term increases by 1month every time this service is used.
Free Early Repayment
You can foreclose the loan anytime during the loan term without any additional charges. Points to keep in mind before availing this service There should not be any outstanding amount on your loan Request is raised at least 5 days before the due date in case EMIs are paid through Direct Debit mode. Customers paying EMIs through other payment modes can raise the request at any time before due date Life Insurance Get a Life insurance for 1.25 times the loan amount to cover loan obligation in unforeseen situation due to various causes of death –accidental, illness and natural. During claim, loan outstanding principal will be settled first and the remaining amount will be given to nominee.