These are the things to know about the grace period that occurred during ECQ. Please read the terms and conditions per scenario to learn more:
Juan took a Home Credit loan on January 16, 2020 with a monthly installment worth PHP 1,000.
The loan term is for 9 months, with last monthly installment on September 16, 2020. Juan has two due dates that fall in the grace period given by Home Credit.
Juan was able to pay for the monthly installments of April and May during the grace period.
The loan term will not be extended, and last installment will still be on September 16, 2020. There will be no accrued interest on this scenario.
Juan was able to pay only one of the monthly installments during the grace period.
Loan term will be extended for1 month and last installment will be on October 16, 2020. There will be an accrued interest equivalent to 1 month, which will be added on the billing for October due date.
Juan was not able to pay any of the monthly installments during the grace period.
Loan term will be extended for 2 months and last installment will now be on November 16, 2020. There will be accrued interest equivalent to 2 months, which will be added on the billing for November due date.
You may click this https://bit.ly/2BOx5eX for complete details. Monitor your payments, due dates and balances thru My Home Credit App. Download it now on Google Play Store for free.