Fast Digido loan is much easier than from Home Credit!

In this article you will learn all about Home Credit loans – types of loans, conditions, requirements for the borrower. Unfortunately, Home Credit has high requirements for customers and often refuses. For this reason, we recommend Digido loan which is available to every Filipino. You can get up to 25,000 pesos in just 15 minutes without collateral or income certificates!

Home Credit Cash Loan Guide

Last updated: October 25, 2022

Written by: Sean Martin D. Plantado | Reviewed by: Rafael Hular

Key takeaways:

  • Home Credit Bank is one of the biggest banking institutions in the Philippines. It is a great credit line.
  • It has millions of clients, but it also has strict policies about loans.
  • If you applied for a loan in Home Credit Bank, and did not get approved, one alternative that you have to consider seriously is Digido.
  • It is 100% online. It is fast and convenient, and it is easy to get approved provided that you have met the requirements.

In the Philippines, the Bayanihan Act was a major milestone for lenders. The act required banks and other financial institutions to offer a 30 day grace period to all lenders. One of the banks that supported the Act is Home Credit Bank. Though, the bank offers a traditional method of lending it’s the best. To discover more about Home Credit Bank loans continue reading the article.

About Home Credit Bank

The bank is an international finance provider established in 1997. Its headquarters is located in the Netherlands. Did you know the company started as a popular payment option for big-ticket items? This included gadgets and home appliances which could be bought on loans.
However with time they expanded their services to cash loans in Home Credit. And this saw them increasing their market share. Today the group is located in Asia, Central and Eastern Europe, and the United States.
One of their recent branches to be opened is the Philippine Home Credit office. It was established in October 2013 and offers money lending services to Filipinos only. What makes the firm mostly preferred among Filipinos is that it provides personal loans to all consumers, whether you’ve little or no credit score.

→ All about short term loans for blacklisted

How does Home Credit Work?

Home Credit Bank made a name for itself by approaching the market from a different angle. Unlike other institutions, they offer non-cash loans, which help one purchase items such as laptops, furniture, home appliances, cell phones, etc. This is part of their standard loan package that allows one to request financial assistance regardless of their credit score.
Most Filipinos love their payment plans since it gives them a chance to purchase overpriced items with installments. That makes it easier to buy high priced electronics without breaking the bank.
The loan request is evaluated and approved within 10 minutes, and you are good to go. However, you’ll need to pay a down payment and then continue with the monthly installments.
The bank charges an interest of 13% to 30% per annum, depending on the agreement, and a service fee of 3% during the application. Plus you have a loan tenure of up to 48 months. This makes it easier to repay the loan on time without struggling financially.
Moreover, the bank offers you an equated monthly installment (EMI) loan repayment plan. The plan enables one to make payments at a particular date of month. Therefore you can pay off both principal and interest each month until the loan is fully settled.

→ Also read all about fast and easy cash loans

Features of Home Credit

There are various benefits you stand to enjoy from the bank. Here are some of the amazing features that makes the bank an ideal partner when it comes to requesting for funds.

1. Digital applications
Digital services is the new norm that we’ve to get used to. Due to the pandemic consumers have begun to embrace the online Home Credit cash loan application. As a result, no more long queues in the banks when looking for loans.
All you need is your smartphone or laptop and an internet connection to access the site and forward your loan application. That means you can request the funds at the comfort of your home.
Another amazing thing about the online application is there is no need for multiple documents. The only information required by the bank is your bio and filled online forms. Once you submit the forms, the bank gets to evaluate your loan request before approving the cash instantly.

2. Home Credit cash loan amount and interest rate
You can request a loan up to PHP 50,000 at an Home Credit cash loan interest of 29.28% to 73.13%. Though the interest charged depends on the product’s initial cost, repayment and down payment plan. The down payment is usually at least 20% of the retail prices and 10% for purchases that cost less than PHP 5,000.
However, with the interest rates, Home Credit Bank doesn’t publish them. Therefore, to know the interest on the principal amount, we recommend using an online loan calculator.

3. Multiple repayment plans
The firm offers you multiple repayment plans you can choose from. Hence you can select a repayment plan that is convenient to settle the debt on time. The amazing thing about Home Credit Bank is that they accept over-the-counter loan payments as well.
You can visit any of the remittance and bill payment centers in the Philippines to service your loan. The number of payments you make depends on your loan repayment schedule as agreed upon.

But keep in mind that checks and credit cards are not allowed by the institution to service your loan. Apart from the centers, there are other digital wallets and online payment channels you could use. They are the following:

– SM Business Centers and bills payment counters in SM malls;
– Cebuana Lhuillier;
– M Lhuillier;
– GCash;
– Bayad Centers;
–  pay Outlets (7-Eleven, Shopwise, True Money, RD Pawnshop).

4. Unsecured loans for all Filipinos
The loans offered by the bank are meant for everyone who is in need. This means whether you are self-employed or employed, you qualify for the funds. Though your bank statement is needed to prove you can service the loan requested. In this case, the bank does not require a collateral or guarantor.

Apply now

→ Also read all about Gadget Loan for students

Home Credit Cash Loan requirements

And how to apply cash loan in Home credit? For one to qualify for the funds from the bank, there are parameters you need to meet. The requirements are:

– You must be between the ages of 18 and 68 years;
– The applicant is supposed to be a Filipino citizen to be considered eligible;
– A bank statement and 2 valid identification cards are also needed during the application.

Home Credit offers Filipinos two types of loans:

– dedicated cash loan through its mobile app;

– and non-cash loan via in-store financing.

The mobile app enables one to access funds directly on their phones once the loan is approved.

But when it comes to in-house financing, the story is different. The firm uses this loan to purchase a product on your behalf. They’ll cover all the expenses at a fee, which is the interest charged on the principal amount.

Always remember that the Home Credit cash loan application form online should be made through the official Home Credit app or over the counter at partner stores. These are the only channels the bank uses to provide consumers which instant cash upon approval. One of the most popular loans in Home Credit – cellphone installment loan without down payment.
The approval takes about 30 minutes, and the funds are released within 2 business working days. If you find it a problem during the application period, you can contact the bank via:

(02) 7753 5714 – Telesales Hotline;
1 800 10 234 3000 – Smart Toll-Free Number;
1 800 8 905 0303 – Globe Toll-Free Number.

Now you know how to avail cash loan in Home Credit.


  • How much is the credit limit for Home Credit Bank?
    The minitial limit on Home Credit is Php 5,000. You can up to Php 50,000 if you score well.
  • How do I contact Home Credit Bank?
    You can contact the 1 800 10 234 3000 – Smart Toll-Free Number or 1 800 8 905 0303 – Globe Toll-Free Number.
  • How long is the processing of Home Credit Bank personal loan?
    The loan approval process takes around 2 working days.

→ Learn more about Personal loan lenders with no credit check in the Philippines

Why was I not approved of the Home Credit loan?

Unfortunately, Home Credit Bank does not give 100% credit approval. There may be situations where your loan application will not be approved. Let’s list the main reasons for rejection.

– You have a bad credit history.
Home Credit Bank pays great attention to credit score. If you have a low credit rating or unpaid loans, you probably won’t get a loan.

– You need less than 10,000 pesos.
10,000 pesos is the minimum loan amount. You can’t borrow less even if you have a good credit rating.

– You do not have a landline phone.
Availability of a landline phone is a mandatory condition for a Home Credit Bank borrower. Unfortunately, not everyone in the Philippines has a landline phone.

– You are over 68 years old.
Even if you have a job and a steady income, you must comply with the age limit. Only people under the age of 68 can qualify for the loan.

I want to borrow ₱ 10000
Min: ₱ 1000
Max: ₱ 20000
Payment Terms 10 days
7 days
21 days
My Monthly Gross Income ₱ 20000
You return*: 10 000
All your data is under secure protection!
We recommend taking a loan!

* Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval.

Read how to get cash loans approval in 1 hour

Alternatives for Home Credit cash loan

Home Credit Bank is a good Filipino bank, but their rules and regulations make it difficult to get a loan. Not all Filipinos can get money here, even if they need it urgently.
If you’ve already been turned down for a Home Credit loan, or you don’t qualify, you can get a loan from Digido.

Digido is an online company that provides loans to Filipinos. Currently, it can only provide loans to Filipino citizens residing in the country.

Digido was founded in 2017 and has become one of the best online lenders in the Philippines. It provides low-interest loans that last from 7 to 30 days. You can request a minimum loan amount from PHP 1,000 to PHP 25,000.

All operations are performed online - you don't have to leave your house
In only 4 minutes you can receive up to 5000 pesos in your bank account
We don't require guarantors representation, documentation, or guarantee deposits.
The service is fully automated

Here are the main pros of Digido:

I. Quick loan approval
Fast loan approval is what you need, and Digido offers that in minutes. You spend 10 minutes filling out the form, and you get your money within 24 hours.

II. Easy loan requirements
Digido requires 1 valid ID, no matter how much you request. However, you can add other documents to increase your chances of getting a loan. This can be a bank statement, paycheck, and other documents.

III. Accessibility for all
Digido gives loans to all people with Filipino citizenship between the ages of 21 and 70. Minor credit history errors are irrelevant. You must also have a steady income and a cell phone.

Apply now

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Written by: Sean Martin D. Plantado

Author pages:
Sean Martin Plantado is the head of Customer Care Dept. and Online Sales Dept. of Digido Finance Corp. creating articles, blogs, and other learning mediums that helps Filipinos struggling on their financial literacy. Sean also loves Cycling, Photography, Cinematography, Online gaming, Fine Arts, and dreams of becoming a Doctor of Veterinary Medicine.

Reviewed by: Rafael Hular

Author pages:
Rafael “Raffy” L. Hular is, the Finance and Accounting Manager. of Digido Finance Corp., monitoring and controlling the flow of cash that comes in and out of the company to meet the company’s business needs, preparing the financial reports and analysis of income and expenses, and monitoring tax compliance.  Raffy loves reading Japanese comics called manga and watching Japanese animated cartoon series. He dreams of establishing his own Accounting and Auditing Firm and teaching in a University.