Home Credit India HCIN #10SaalBemisal

Home Credit India (HCIN), a local arm of the international consumer finance provider, has completed 10-successful years in India this year. The brand is celebrating the momentous occasion with a campaign - #10SaalBemisal comprising of unveiling a 10-year showcasing how Home Credit has grown strength by strength. Home Credit’s efforts in facilitating credit penetration across the country has resulted in bringing borrower-centric services & products such as Safe Pay (payment holiday, no pre-payment penalty and insurance), Care 360 (a holistic healthcare service protection product), and Ujjwal EMI Card (the digital pre-set credit limit card).

With a focus on enabling credit penetration and financial Inclusion in India, since 2012, Home Credit India has fulfilled aspirations of 15Mn borrowers through 50K+ PoSes across country. Home Credit’s strong digital transformation journey has helped customers & retailers embrace online journey.

Home Credit India (HCIN), a local arm of the international consumer finance provider, has completed 10-successful years in India this year as a RBI regulated consumer NBFC. Being committed to India market and financial inclusion, Home Credit in its first decade has fulfilled over 15Mn aspirations through trusted & affordable financial products & services. 

Upon reaching this feat, Home Credit India is celebrating the momentous occasion with a campaign - #10SaalBemisal comprising of unveiling a 10-year logo and a digital AV showcasing how Home Credit has grown strength by strength with various milestones achieved in its decadal journey. 

Home Credit’s focus on financial inclusion by enabling credit penetration across the country, has resulted in bringing borrower-centric services & products such as Safe Pay (payment holiday, no pre-payment penalty and insurance), Care 360 (a holistic healthcare service protection product) and Ujjwal EMI Card (the digital pre-set credit limit card). 

The PoS-led strategy in last decade has given Home Credit a strong foothold in India market, having a robust 50K+ retail network across 600+ cities. As Phygital model becomes the renewed approach, focus on digital-first strategy has enabled both Home Credit’s customers and retail partners to do self-onboarding via Home Credit app. Home Credit has boosted its digital ecosystem through B2B partnerships, enhancing scope of services and online onboarding. Half of HCIN customers now follow a complete online journey, and metrics show these numbers are growing each day. 

Commenting on the 10-Year milestone, Mr. Ondrej Kubik, Chief Executive Officer, Home Credit India, said,

“Completing a decade of doing business in India and having served millions of borrowers is a testimony of Home Credit’s commitment to India. In 10 years, we have serviced over 50 million contracts which is a clear reflection of customer trustworthiness & reliability the brand enjoys. Maintaining the great momentum would have been difficult without engaged and supportive partners, employees and customers. In the fast-changing environment, our purpose remains the same - to empower people to live the life they want now. While we complete 10 years, we still have a long way to go and the zeal & momentum will now be even greater to redefine Home Credit brand connect with consumers in the endeavor to fulfill aspirations.”

Along with customers, as a responsible consumer lender, Home Credit promotes financial literacy to drive a responsible borrowing culture in wider society. Financial literacy initiatives have led to engagement with over 3 million people through Paise Ki Paathshala microsite, blogs and social media campaigns. 

Home Credit recently launched its maiden Sustainability Country Card 2021, codifying ESG principles into the business. The document sets out key sustainability pillars as Financial Inclusion or inclusive lending, Financial Literacy, Digital Empowerment and Sustainable Communities. 

Key highlights at a glance: 

Borrowers Served: 15X Growth since 1MN in 2015 to 10 MN in 2019 and 15MN in 2022 

Serving the underserved: 40% of Home Credit customers were first-time borrowers   

Digital lending: Growth from 2% in 2018 to 30% in 2021 (% of personal loans through digital channels) 

Zero interest: 45% of our consumer loans have 0% interest, thanks to partnerships with retailers and manufacturers 

PoS touchpoints: 50,000+ point-of-sale touchpoints across 625 cities for customers 

Financial literacy: 3Mn people benefited from HCIN financial literacy initiative (Paise ki Paathshala) and social media engagements in 2021.

HCIN AV Link:

Home Credit India Finance Pvt. Ltd. is a local arm of the international consumer finance provider with operations spanning Europe and Asia and committed to drive financial inclusion in India. The company is committed to drive credit penetration and financial inclusion by offering wide financial solutions that are simple, transparent, and accessible to all. Home Credit India has an employee base of approx 5000 and has been consistently expanding operations since its entry in 2012, with its operations spread over 625 cities across India. The company has a strong network of around 53,000 points-of-sale (PoS) and is growing with a customer base of 15 million customers, driven by Pan-India expansion across major markets, a range of diversified and innovative products backed by superior customer experience.