Home Credit India, a leading NBFC (non-banking finance company), has now reached a major landmark in its journey, a watershed mark of sorts. The company now has more than 5 million customers in the country which is a major achievement within just 5 years of commencing Indian operations as per reports.
Home Credit India started operations in the year 2012 and in the year 2016, it surpassed 1 million customers by expanding across the country and launching new financial products with innovative features and benefits. An additional 4 million customers came on board in the last year, helping Home Credit India bolster its position as a leading provider of consumer finance solutions. The company’s officials believe that this is a major landmark in the company’s efforts towards offering hassle free, simple and easy to understanding financial products. Accessibility has always been the key for the company’s rapidly growing customer base according to experts.
Home Credit India has not just grown its customer base hugely over the last five years or so. It has also scaled up its overall distribution and customer service network in India. The company possessed only a few points of sale or PoS in the country when it launched in the year 2012. At present, there are more than 20, 000 touch points for customers across 90 Indian cities and 20 states. Over the last 5 years, the company has started operations in all the major Indian metro cities and other tier I and II cities for reaching out to a bigger audience.
The Mini Cash Loan online financial product was launched in 2017 by Home Credit India and proved to be a major success with customers throughout the country. The product offers easy loans for applicants with minimal documentation and other processes. People who meet the eligibility criteria can swiftly borrow a sum of up to Rs. 10, 000. For helping customers get repayment and loan details on the move, there was a mobile app that launched in April, 2017. These initiatives of Home Credit India have helped it rapidly scale up its customer base in the country.