Gurgaon-based Home Credit India Finance Pvt Ltd, a private lender for consumer products, plans portfolio-cum-network expansion by 2018.

The company, which offers interest-free EMI on smartphone purchases, plans to expand its financing solutions for online platform too, said Rahuj Jha, Head – Sales Network, Home Credit India Finance, here.

The company’s EMI scheme covers almost 95 per cent of the smartphone brands that are sold in India and will fully span the segment by next year.

The average loan size of a smartphone purchase has increased from ₹7,500 two years ago to about ₹10,000 now, and the company offers a repayment period up to eight months.

Loan book size

The company’s loan book size is ₹3,200 crore with more than five million customers across the country.

“About 45 per cent of our customers are first-time borrowers. We know how to assess risk and bring our global experience here in risk assessment,” said Artem Popov, Chief Sales Officer, Home Credit India Finance.

The company, which also offers loans for two-wheeler and consumer products, plans to extend zero interest EMI scheme for purchase of home appliances soon. It offers one per cent interest EMI scheme for purchase of appliances as of now.

Home Credit India Finance, part of The Czech Republic-based Home Credit Group, plans to double its present five million customer base by next year and by 2020, it seeks to grow its presence in 89 cities across 20 States to 497 cities across all States.

Also, its dealer network (point-of-sale) will be ramped up from over 20,000 to one lakh stores. Its expansion will also see the company increasing its point-of-sale network in Tamil Nadu to 2000 by 2018 from 650 now with an increase in employee headcount to 625 from 405.

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