With Christmas just around the corner, it’s the best time to get that new tech you’ve been eyeing for yourself or the people you love. Whether it’s that laptop you’ve been looking at, those useful noise-cancelling headphones, or to finally replace that smartphone with the broken screen.
Nevertheless, buying new tech can seem daunting as it can take lots of research and hard-earned money to get right.
But what if we told you that trusted financial partners like Home Credit, BillEase, and Skyro can make it so much easier?
These three services have become trusted gateways for countless Filipinos to confidently secure their dream gadgets. While each offers great value, here’s a quick look at how they stack up.
What are the interest rates and payment terms?
If you’re looking for 0% interest for lower total payment, only Home Credit and BillEase provide this tempting service. The main difference is that BillEase’s 0% interest promos are usually tied to limited-time offers, around 10,000 selected partner merchants, or as a “Pay with Grace” solution with a maximum repayment period of 6 months.
Meanwhile, Home Credit’s 0% interest fundamentally operates the same way – but the company boasts 18,000 partner stores nationwide, which you can also check at Shoppingmall.ph. This is nearly double BillEase’s lineup.
They also have an ongoing promotion called The Great Double Zero Festival that promises zero downpayment and interest. Required documents are minimal; we’ll get into more of that later.
Regular non-promo interest rates, meanwhile, have Home Credit at 0-5.99%, BillEase at a static 3.49%, and Skyro at 1.5-7%.
All loans can be over as little a span as 2 months, or stretched out to 12 (Skyro) or 24 (Home Credit and BillEase)
Is there any flexibility in these loans?
Most notably, Home Credit offers a value-added service called Loan Extra Care for low monthly fees of PHP 49 (product loans) and PHP 99 (cash loans).
There are two benefits to availing of Loan Extra Care:
The first is Partial or Full Early Repayment. Partial Early Repayment allows you to pay more than your monthly dues, which then leads to a shortened overall loan period. The minimum is two months’ worth of payment.
Full Early Repayment, on the other hand, allows you to settle your remaining balance in full in one go. You’ll only need to pay for that month’s interest fee and the Home Credit Protect fee, saving you from any future interest charges.
The second benefit is named Payment Holiday. This allows you to change or postpone your due date by a month. These features allow you to breathe easy and pay your loans in a way that feels right for you.
How much downpayment should I expect to lay down?
With Home Credit, new customers can select from 0-40% depending on their customer profile. The company then rewards existing, well-paying customers with greater flexibility in availing 0% downpayment deals.
BillEase is somewhat equipped with the same functionality, while Skyro will ask you to shell out a flat 20% of the item’s cost.
Are the rest of the elements the same?
As three of the most reputable offerings in the market, their application methods, conditions, and other elements are highly competitive with one another.
You won’t go wrong with any of these three services – it all just depends on what you’re looking for.
So how do I decide which one to go with?
It’s all a matter of timing.
Skyro can complete requests in as little as a single day. BillEase trims that down to an impressive couple of minutes, but Home Credit goes above and beyond by getting you set up in just a minute. Yes, sixty seconds.
In addition to that, Home Credit’s Great Double Zero Festival is in full swing.
As mentioned earlier, that means zero downpayment and interest with over 18,000 partner merchants. You can peruse your choices at the ShoppingMall website to see what catches your eye.
Interested in this promo? Set up the Home Credit App today – it’s on Google Play, the App Store, or the Huawei AppGallery. You’ll easily be able to check your eligibility and get pre-approved for any product installments you’d like to do in the near future.
All you need to prepare is a valid ID (with home address), e-mail address, mobile number, and ensure that you haven’t been rejected for any Home Credit application in the last 90 days. Anyone from 18 to 68 years old (with 3 months employment or proof of regular financial support) can qualify.
There’s still a bit of time until the promotion ends on December 31, 2025. Happy holiday shopping!
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