Jubilee Post News & Views
As consumer aspirations rise across India, especially in semi-urban and urban centers, the demand for quick, reliable, and hassle-free credit continues to surge.
Home Credit India (HCIN), a subsidiary of TVS Group, is stepping up to meet this need head-on. By seamlessly integrating its fast, trustworthy, safe and paperless loan disbursal process with tech-enabled Point-of-Sale (POS) systems, HCIN is making essential and aspirational products instantly accessible, truly empowering customers at the last mile.
According to Home Credit India’s ‘How India Borrows (HIB) 2024’ study, borrowing for smartphones and home appliances surged from just 1% in 2020 to 37% in 2024, highlighting the growing consumer appetite for aspirational products and the need for accessible POS-based credit solutions.
Addressing the Pulse of the Indian Market: Speed and Trust at POS
Recognizing the critical role of POS interactions in influencing customer choice in India’s highly competitive consumer durable market, Home Credit India has strategically enhanced its disbursal capabilities.
This ensures customers receive quick credit access right at the moment of purchase, with completely paperless application process. This seamless integration of human ingenuity with tech capabilities, minimizes wait times and eliminates friction, directly addressing the evolving demands of tech-savvy and time-conscious consumers.
Home Credit India’s commitment to a quick and easy disbursal process isn’t just about efficiency; it’s about empowering dreams at the grassroots level. In a market where every second counts, and trust is paramount, the ability to provide timebound financing directly at the POS is a game-changer. This aligns perfectly with the rising consumer aspirations and the company’s mission to drive financial inclusion across urban and semi-urban India.
Beyond Disbursal: A Holistic Customer-Centric Approach
While speed is a significant differentiator, Home Credit India’s value proposition extends across the entire customer journey, fostering trust and confidence:
· Fast and Easy Approval Process: Loans are approved quickly, ensuring customers receive seamless credit access right at the point of purchase, minimising wait time and enabling swift purchasing decisions. The HIB 2024 report also found that 43% of lower-middle-class borrowers prefer EMI cards for their reliability and faster disbursals, validating Home Credit’s emphasis on POS-led financing tools.
· Transparent Interest Rates and Fees: All loan terms, including interest rates and charges, are communicated in simple terms, helping customers make informed choices and eliminating concerns over hidden costs.
· Simplified Loan Features: Loan structures are designed to be straightforward to understand, making credit more approachable, especially for first-time borrowers.
· Flexible Tenure Options: A variety of repayment plans are available, allowing customers to select tenures that align with their financial capacity and monthly budgets.
· Widespread Accessibility of Loans: Financing options are accessible across a robust network of approximately 53,000 points-of-sale in 625 cities , ensuring credit is available whenever and wherever
needed
. This aligns with the HIB’s findings, where accessibility and tech-enabled POS systems have played a key role in empowering lower-middle-class borrowers, especially in Tier 1 and Tier 2 cities.
· Streamlined Application Process: The end-to-end loan journey is smooth and efficient, with minimal documentation and real-time approvals at partner outlets, making the process quick, convenient, and stress-free.
· Robust Post-Purchase Support: Dedicated customer care, efficient issue resolution, and polite payment collection processes reinforce a customer-first approach.
According to the HIB 2024 report, 65% of borrowers now prefer app-based banking for its 24/7 accessibility and ease of use, while 29% trust chatbot responses and 26% trust loan offers on WhatsApp—reflecting growing digital comfort. Integrating quick loan disbursals at POS enhances this seamless digital journey for consumers.
By combining advanced disbursal technologies with the established reach of its point-of-sale network, Home Credit India is not just simplifying lending; it’s democratizing access to credit and enabling millions of Indians to fulfill their consumer durable needs instantly. The company continues to focus on strengthening retail partnerships and enhancing post-loan support systems, reinforcing its vision for transparent, accessible, and customer-focused financial solutions.
