Early repayment of a loan at Home Credit Bank: methods, conditions, reviews

Early repayment of a loan at Home Credit Bank is an excellent way for borrowers to reduce the overpayment of a loan, and at the same time get rid of additional worries. Banking organizations widely practice such methods of closing agreements. Everyone should know about the procedure for early repayment of a loan at Home Credit Bank.

Methods and conditions of early payment

In the event that the client wishes to fully compensate for his debt, he must know the following:

• Borrowers have the right to repay the full amount ahead of schedule with payment of interest on the loan at Home Credit Bank for the actual terms of the loan. He can use this opportunity within fourteen days from the moment of receipt of funds, as well as within thirty days after processing a consumer loan.
• The funds are written off directly on the day of the appeal with the submission of an application for early full repayment.
• The borrower, for its part, must ensure that it is possible to write off funds from the credit account that are sufficient for repayment. It is required to transfer the necessary money to the credit account in advance. They should also cover interest and commissions.
• Charges on the loan are paid for the entire period of the actual use of finances until the moment at which an early full repayment is made.

Home Credit Bank addresses will be presented below.

Primary requirements

In the event that the specified deadlines are missed, then such requirements will come into force:

• Notification of the bank about early repayment not less than ten days before the end of the current interest period (Pr). This refers to the timing of the monthly payment.
• As a rule, interest should be repaid for the entire loan period, and not for the period of actual use of funds.
• The bank makes such debt compensation in the last day of Pr. Funds are debited using an automated system. The client does not need to do anything in this case.
• A citizen must necessarily provide the ability to write off funds from the account, which will be sufficient for full early repayment. The required amount must be transferred in advance. There should be enough money to cover commissions, interest and penalties (if any).
• In the event that borrowers have several loan offers in force from the bank, then in its application it must indicate specific products for which early compensation is made. The application is also filed ten days before the completion of the current PR.

What else involves early repayment of a loan at Home Credit Bank?

Loan repayment

In order to fully compensate the loan before the expiration of the contract, it is required:

• Get acquainted with the above conditions, and then find out exactly what amount of interest will have to be repaid (for the full loan period or for the actual use of funds).
• Calculation of the full amount of debt, taking into account additional contributions.
• Personal appeal to the bank office.
• Filling out an application for early repayment of the cost of a loan.
• Submission of a document to the bank for processing.
• Depositing money into a credit account.
• Make sure that the amount has been credited (statement of extract or verification of data via the Internet).
• Requirement of a document confirming the fact of premature full repayment.
  

Funds must be paid into the account no later than the week when the application is submitted. The terms of deposit depend on the conditions of the loan at Home Credit Bank and may be different.

Is early repayment of this bank possible?

There are several types of early repayment. It can be full or partial.

This financial institution provides its customers with the option of early repayment of part of the loan. The result of such compensation will be only a reduction in the size of the monthly payment. However, in some situations, it is possible to shorten the loan period. The following rules work here:

• In the event that you make a significant portion of the debt on a consumer loan within thirty days from the receipt of the money, the terms of the loan may be reduced. The Bank did not disclose the concept of a “significant part”, which brings some ambiguity to the conditions for partial repayment. Also in this situation, customers will be formed a new payment schedule, which can be obtained in the Internet bank or in any credit account.
• In order to perform partial repayment, customers need to notify the banking institution in writing at least ten days before the completion of the current PR. At the same time, an amount is required to be placed on the account, which will allow early compensation for a certain part of the loan. A monthly payment is transferred by the client and compensation money is additionally credited.
• Repayment of the loan share is made on the last day of the PR, on which the client receives an application. The number of monthly payments does not change. Only contributions are reduced.
• Against the background of partial repayment, additional documentation to the contract is not drawn up. The new payment sizes are reported to the client by sending SMS. Borrowers can also find out through a personal appeal to a financial institution or directly by phone.
• Redemption by parts of customers of the payment of minimum payments during each PR does not exempt. Borrowers will be required to make such financial transfers until full credit compensation.

The procedure for such early repayment is similar to the procedure for early repayment of the whole cost of a loan. The only difference is that the client in this case chooses the amount of compensation on their own.

Reviews

Clients who have ahead of schedule compensated their debts in this bank, report the following positive points in their comments:

• Availability of opportunity to pay interest during certain periods only for the actual application of the loan.
• The possibility of partial and full repayment.
• Relatively simple procedure.

Far from always, clients manage to successfully close contracts ahead of schedule. Therefore, on the Internet there are also negative reviews about this:

• Bank employees may refuse to provide accurate information on loans.
• They are silent about the current state of affairs (for example, they say that the agreement is closed, and then they inform that the debt has allegedly accumulated).
• The financial institution under consideration in the role of compensation can simply be written off as a monthly payment. As a result, customers have debts.

How to make an early repayment correctly?

Advice to borrowers

The most important thing that experts recommend when using the services of this bank is to monitor the progress of early compensation. It is necessary to demand from the organization a certificate or statement stating that the repayment was made ahead of schedule. It is extremely important to obtain documentary evidence (and not the words of any employee).

It must be remembered that Home Bank gives borrowers the opportunity to pay interest for actual use. It is important to pay attention to such conditions. This will certainly help to save money.

It is required to ensure that the write-off is carried out exactly on the day that is indicated in the conditions of premature compensation (that is, on the date of depositing funds to the account or according to the schedule). It will also bring big savings.

In order to calculate approximately your waste, you need to use special calculators. It is especially convenient to do this online. From a person there will not be required additional efforts in terms of installing software.

Home Credit Bank Addresses in Moscow

Here are a few addresses of this banking organization in the capital. The nearest office is easy to choose.

How can I calculate the repayment in this bank with a calculator?

Each manufacturer of the calculator sets its own list of data that is necessary for calculations. Typically, to obtain accurate information, the client enters:

• The total cost of the loan.
• The size of the bet and the period for which the money was issued.
• The amount to be paid in excess of the monthly payment.
• The month in which the client wants to compensate the debt.
  

New payment schedule

After filling in all the fields, the system issues a new payment schedule. Some services even allow you to print such information. In any case, you need to know that the information of such calculators is not considered official information, but only has an introductory property. In order to get a reliable repayment scheme, you must contact the bank office.

We examined how the early repayment of a loan at Home Credit Bank takes place.