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One of the top reasons why Filipinos avoid getting a loan is because of their perception of high interest rates that some lenders charge. However, this thinking is—most often than not—a result of outdated beliefs or “Sabi ni ano ganito” without an actual comparison of financial service offers. So here’s a quick article to give you a clear idea of how Home Credit’s offers differ in terms of interest rates, affordability, and accessibility.
Product loan interest rates from Home Credit vs other lenders
Interest rates in the Philippines has been viewed negatively by some as it is perceived as costly and not budget friendly. But with Home Credit, you can avail appliances, gadgets, and more with super affordable interest rates of as low as 0%. If this sounds too good to be true, let’s look at this side-by-side comparison of Home Credit’s installment offer versus other financial service providers:
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Overpayment refers to the additional fees that you pay on top of the actual loaned amount that you availed. In this illustration, other financing competitors offer this tablet with an average of 6.02% interest, so the overpayment blows up to as much as ₱5,770 in 12 months. Whereas with Home Credit, there’s only a ₱262 processing fee on top of the gadget price, allowing you to avail it for only ₱721/month at 0% interest. San ka pa?!
Where to avail products via Home Credit
Home Credit has officially served 10,000,000 customers at the time of writing! You can also be one of the millions to finally experience wide-range and flexible offers in over 15,000 stores nationwide, offering more than 50,000 products at 0% interest. For easier shopping, you can also avail our shopping basket where you can fill it in with any products in leading retail stores and just pay later via installments. And for maximum convenience, browse on My Home Credit App and Shoppingmall.ph to get the best deals on gadgets, furniture, appliances, e-bikes, home improvement items, and more!