Verified Support
May 10, 2019
Home Credit India Finance Customer Care's response Dear Rajat,
Thank you for contacting Home Credit.
We regret the inconvenience caused.
We wish to inform you that as per the General Terms and Conditions of the Loan and the Terms and Conditions mentioned in your Loan Summary, the interest amount has been calculated basis the annualized flat rate of interest.
The apportionment of the interest amount over the period of the loan is done on a reducing balance method so that the interest charged on a monthly basis is consistent with the principal outstanding at the end of each month. We assure you that the total amount of interest received from the customer basis the flat rate of interest mentioned in the loan summary remains the same.
There are no foreclosure charges, however, depending on the date of foreclosure, the interest for the number of days in the month till foreclosure happens is calculated in a pro-rated manner.
Please note all the terms and conditions of the loan are mentioned in the Loan summary and the General Terms and Conditions.
Further, your contract is having the delinquent amount of Rs.7, 430/- which is pending from last 31 days. Hence, we would request you to kindly make the payment at the earliest to avoid collection activities.
We appreciate your patience and understanding with this.
For any further help, please contact us on our email id:[protected]@homecredit.co.in.
Regards,
Customer Care Team
Home Credit India Finance Private Limited | Email – [protected]@homecredit.co.in
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Verified Support
May 12, 2019
Home Credit India Finance Customer Care's response Dear Rajat,
Thank you for contacting Home Credit.
We regret the inconvenience caused.
We wish to reiterate you that as per the General Terms and Conditions of the Loan and the Terms and Conditions mentioned in your Loan Summary, the interest amount has been calculated basis the annualized flat rate of interest.
The apportionment of the interest amount over the period of the loan is done on a reducing balance method so that the interest charged on a monthly basis is consistent with the principal outstanding at the end of each month. We assure you that the total amount of interest received from the customer basis the flat rate of interest mentioned in the loan summary remains the same.
There are no foreclosure charges, however, depending on the date of foreclosure, the interest for the number of days in the month till foreclosure happens is calculated in a pro-rated manner.
In order to foreclose your loan, please refer below terms and conditions.
-Minimum 06 installments to be paid to foreclose the loan under this option.
-As per the loan summary letter terms & condition you need to make payment of the amount communicated by our customer care team.
-Nil foreclosure penalty charges will be applicable on the outstanding principal amount as per the loan summary letter terms & condition.
-To raise a request for Early Repayment customer have to call us before 5 days from last due date.
-Once the request is raised and activated with us customer is advised to make the payment within 48 hours to avail the benefit of Early Repayment option, which is as per the terms & condition of loan summary letter.
Please note all the terms and conditions of the loan are mentioned in the Loan summary and the General Terms and Conditions.
We appreciate your patience and understanding with this.
For any further help, please contact us on our email id:[protected]@homecredit.co.in.
Regards,
Customer Care Team
Home Credit India Finance Private Limited | Email – [protected]@homecredit.co.in
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