What's wrong with Home Credit's installment payment? Penalty how much?

If you are taking a loan at Home Credit financial company, you should not ignore the problem Home Credit installment payment late with your loan. What are the things to note about this content, today's article, Banktop will help you synthesize the most detailed information.

About Home Credit Vietnam

Home Credit is a leading financial company in Vietnam, established in 1997, now covering major countries around the world, including Vietnam with total assets of more than 14 billion Euros.

As a safe, fast and diversified unsecured loan unit with many loan packages, supporting the majority of customers in many fields. Received trust and satisfaction through many years of operation and development.

Currently, Home Credit has linked with more than 4000 payment points via e-wallets, via Payoo application and connected with Viettel system, Post offices and banks nationwide to improve product quality to bring good experience. best for customers.

How many days late payment leads to late Home Credit installment payment?

When taking out a loan, you should actively monitor the monthly interest payment time according to the contract minutes. There are a number of financial units before the payment date that will notify customers via SMS so that customers can actively pay on time.

Late payment time leading to late payment at Home Credit can be from 1-5 days beyond the specified time, you will be charged an additional fee. The longer you wait, the more the penalty fee will be.

The harm of late payment of Home Credit installment payment

The harm of late payment of Home Credit installment payment
The harm of late payment of Home Credit installment payment

If you pay late for your Home Credit loan, you will have to accept the following problems that may occur:

Call to remind debt

When customers are late for their Home Credit installment payment, the bank staff will definitely call and ask the customer to quickly pay the loan early to avoid incurring additional penalty fees.

Penalty fee 150% interest rate

When taking out a loan, you should balance your finances to avoid the inability to pay the installments, leading to a high penalty fee of up to 150% interest rate. The slower the payment, the more the penalty and % will increase than both principal and interest.

Bad debt arising on CIC

When you are too late to pay Home Credit from 10 to 365 days, you will be placed in the group of bad debt from group 1 to group 5. This greatly affects your desire to borrow money later because of your debt history. bad stored on the system's CIC.

Go to debt collection

Going directly to Home Credit debt collection usually applies to group 3 bad debt customers with large remaining loans. In this case, no one wants to because, in addition to financial companies, some banks also apply this measure to force customers to complete the loan early.

Influence relatives reference

When making a loan application at a financial institution, information about relatives to contact for reference is always required. Through this information, in case the customer does not pay on time or the debt lasts too long, the unit will contact relatives according to the information provided by the customer to request support on the loan. you are taking out a loan.

Explore more: Home Credit loan experience

Formula for calculating late payment penalty fee for Home Credit installment payment

Formula for calculating late payment penalty fee for Home Credit installment payment
Formula for calculating late payment penalty fee for Home Credit installment payment

When you are late for your Home Credit installment payment, you will be fined with a fee based on the overdue principal and interest. The formula is shown as follows:

The penalty interest rate applied to the overdue principal balance is 150% of the original fixed interest rate.

Overdue principal penalty fee = (150% x initial interest x number of days overdue for repayment x principal amount)/365 days

Overdue interest will be charged at 10%/year:

Overdue interest penalty fee = (10% x number of days overdue x overdue interest)/365 days

After that, you add 2 overdue principal penalty fees and the above overdue interest penalty fees will return the amount to be paid to Home Credit when you are late for payment according to the loan contract.

The experience of paying money to not be late for Home Credit installment payment SHOULD NOT be ignored

You should note the following experiences to avoid incurring unexpected fines if you are late.

Understand payment methods

When applying for a loan at Home Credit, you should ask the staff about the loan payment method. So that when the payment term is due, you can be flexible and pay on time to avoid delay.

Currently, Home Credit financial company also has links with many large units and smart e-wallets such as Momo, Zalopay, or Internet Banking service at banks. You can completely pay your credit bill through the above online forms to make it easier for you to move and save time.

3-7 days early payment

When paying a loan at Home Credit, you do not have to be on time to pay the loan, but you can completely pay it 3-7 days earlier according to the time specified in the contract. When making payments, it is recommended to choose the first days of the week or the middle of the week to make the transfer and receive money faster.

Limit transactions on weekends because sometimes the system fails, the bank does not work. Therefore, the amount transferred to the financial company Home Credit will also be slower. If you pay early, that's okay, but paying close to the date can lead to a late or overdue loan that raises other fees.


When applying for a loan at a financial company, do your research carefully and make sure that you can afford to pay the amount each month. Because of the fee Home Credit installment payment late very high if you don't have enough money to pay. Finally, Banktop would like to remind you to consider all your decisions when taking out a loan and wish you success!

The article was edited by: Banktop.vn