Your Top 3 Loan Repayment Concerns Solved with Payment Holiday and Flexible Payment!

Taking out a loan can significantly improve your financial situation, providing you with the funds needed for immediate or important needs. However, repaying a loan can sometimes be challenging.  

If you’re concerned about loan repayment, you’re not alone. Here are three common concerns Filipinos face when it comes to paying off loans: 

For many, loan payments account for a large portion of their monthly expenses. Balancing these payments with essential costs like food and bills can be mentally, emotionally, and sometimes, even physically exhausting to solve. 

Additionally, the rising cost of living has made meeting loan payments increasingly difficult. When other expenses rise, repaying a loan can feel nearly impossible. 

Late fees can be one of the most frustrating aspects of loan repayment. Missing a payment often results in additional charges, making it even harder to pay off the loan.  

Each borrower has a unique situation; for some, salaries don’t align with the loan repayment schedule. If the due date doesn’t match your payday, you may face costly late payment fees. 

Some borrowers find it challenging to pay off the full loan amount, especially during tough financial times. The remaining balance can seem to grow indefinitely, leading to a feeling that the loan will never be fully repaid. 

Unexpected events such as accidents, health issues, or other financial struggles can further complicate timely repayments. 

Home Credit understands the challenges associated with loan repayment. That’s why Home Credit loans can be paired with Home Credit Protect, a wide array of value-added services that cushion you against unexpected loan concerns. 

To make loan payments easier and less stressful, Home Credit offers Loan Extra Care, giving you additional support when you need it most.  

Loan Extra Care helps you manage your loan repayment better by providing solutions such as payment holidays, adjusting your payment terms, and offering financial advice. 

• Flexible Payment Scheme with Change Due Date: You can request a change in your due date to align with your income cycle, ensuring you never miss a payment.  
• Payment Holiday: If you experience unexpected life events, such as health problems or financial setbacks, you may qualify for a payment holiday from Home Credit, allowing you a break from your loan payments.  
• Savings for Early Repayment: If you come into extra funds, you can make an advance payment for your Home Credit loan. If you pay it in full earlier, you can save on interest. 

Home Credit’s Loan Extra Care is designed to ensure you can manage your loan repayment without added stress. 

If you’re interested in benefiting from Loan Extra Care, claiming it is simple! Here’s how you can access these benefits in three easy steps. 

• Reach Out to Home Credit’s Customer Service: If you’re facing challenges with your loan or need extra support, contact Home Credit’s customer service. They will guide you through the steps to claim Loan Extra Care. 
• Discuss Your Needs: Explain your situation to the representative. You’ll need to provide details about your Home Credit balance payment. Whether you want to adjust your payment schedule or inquire about a payment holiday, they will work with you to find the best solution. 
• Provide Necessary Documentation: In some cases, you may need to submit supporting documents, such as proof of income or a medical certificate if you’re requesting a payment holiday. 

Once all details are settled, you will receive confirmation of your claim, allowing you to enjoy the flexibility and support that comes with Loan Extra Care. 

Paying off a loan in the Philippines can be tough, but it doesn’t have to be stressful. From early repayment options to payment holidays, there are many ways to stay on top of your loan.  

With Home Credit, managing loans doesn’t have to be overwhelming. You can access safe and secure loans, keep your finances on track, and receive the extra care you need for loan payments—all possible with Home Credit.