What is a homechoice credit facility account?
It is like having a store account where you can buy products on revolving credit. At homechoice, you have access to both a Flexi facility account and an Advantage facility account. The Flexi account allows customers to buy on shorter terms (6, 12 and 16 months). An Advantage account allows them to buy on longer terms (24 and 36 months).
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa)
How will a homechoice credit facility account benefit me?
The Facility accounts benefits:
- Lower interest rates compared to an instalment account, meaning lower monthly instalments
- You can buy up to your available credit
- You don't have to answer questions about your income and expenses every time you want to buy from us. Shopping with homechoice is quicker and easier
- Choose the monthly terms that suit you financially
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa)
What is the difference between the Flexi and Advantage accounts
The Flexi account
This account offers you shorter payment terms of 6, 12 or 16 months.
The Advantage account
This account offers you the opportunity to pay off your purchase over longer terms of 24 and 36 months. Only available to selected customers.
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa)
What are the monthly charges and fees?
homechoice credit facility monthly account fees and charges
homechoice offers you access to both a Flexi facility account (with repayment terms of 6, 12 and 16 months) and an Advantage facility account (with repayment terms of 24 and 36 months). Your monthly instalments will include interest charged at 20.75%, delivery fees of 9% and a facility account initiation and service fee. Delivery charges for furniture clients are charged at 11% (to a maximum of R850). Assembly fees may also apply.
INTERNATIONAL DELIVERY FEE: Orders from Namibia and Botswana have a delivery fee of 15% of the cash
price. Orders from Lesotho and Swaziland have a delivery fee of 25% of the cash price. Zambian
orders include additional delivery fees payable to Mercury Couriers. International tax is charged
as follows: Namibia – 16.5% of the credit price; Botswana – 12% of the credit price.
MONTHLY SERVICE FEE: A monthly service fee (currently R29) will be charged to your account plus an
additional R10 monthly service fee if you use both the Flexi and the Advantage accounts. Using the
Advantage account is optional and fees for this account will only be charged if you decide to use
it.
FACILITY ACCOUNT INITIATION AND SERVICE FEE: The facility account initiation and service fee is made up of an initiation
fee and an annual service fee, but we do not immediately add it to your outstanding balance. The initiation fee
portion of the facility account initiation and service fee is charged proportionately between the Flexi and Advantage
facility accounts. The facility account initiation and service fee will be charged up to a maximum of 10% of the price
of the goods or services each time you purchase and will be added to the outstanding balance on a pro-rata basis each time
you buy until the full fee has been paid. This fee will never exceed the maximum fees allowed in terms of the National Credit Act.
Certain payment providers charge a payment service fee each time you use them to pay your account. The payment service fee is
charged at R7.40 per payment and this amount will be deducted from your payment each time you use this payment method.
The payment service fee is included in the credit costs and is not charged in addition to these.
ACCOUNT INITIATION FEE: A once-off account initiation fee (R100 including VAT) will be charged on the day you open your Flexi account.
This fee is not additional to the fees charged in terms of the NCA and will be deducted from the total facility account initiation and service fee due.
The fee will be added to your principle debt with payments spread across the terms of your purchase.
LEGISLATION: As a responsible lender we meet the requirements of the National Credit Act and
Consumer Protection Act. Please note that we will require documents, such as three months' payslips or
bank statements, to validate your income for new credit accounts.
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa)
How do I apply for a homechoice credit facility account?
2 easy ways to open a homechoice credit facility account
- Visit homechoice.co.za
- Contact our call centre on 0861466324 (South Africa) or +27216801300 (Outside South Africa). Supply the agent with your name, surname, address, contact details, email address, employment
details and South African ID number or passport number (outside South Africa).
Once we have received all of your information a credit bureau check is done to determine whether you qualify for a homechoice credit facility account. If you do, we will require more personal information such as your income and expenses details. As a responsible credit provider, we aim to protect you from over-indebtness and give you the credit you deserve.
What do you need from me when I open a homechoice credit facility account?
We're here to help you get the credit you want. New laws mean that we must get certain information
from you before you shop with us. If you are a new customer or haven't shopped with us
for a while, you will need to answer some questions about your income and expenses. We will ask you to send us documents to confirm your income such as: your last three months' bank statements, payslips or pension slips, OR a completed Proof of Income form.
STEP 1 – Tell us about your income
We need to know about your salary, plus other possible income such as social grants or maintenance, allowance from family or friends, rent, commission or overtime, money from a second job or selling goods.
STEP 2 – Tell us about your expenses
We'll ask you about your monthly expenses. That's your living costs, like food, transport, electricity, education and medical costs plus any existing credit accounts or debts you may already have e.g. loans.
STEP 3 – Show us proof of income
We will ask you to confirm your income with documents. Some of the documents you can use are your last 3 months' bank statements, payslips, pension slips, a letter from your employer showing 3 months' income or a letter from a parent or spouse showing your allowance. Click here to find out how to submit your proof of income documents.
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa)
What is affordability and why do you need my details?
As a responsible credit provider, homechoice adheres to the National Credit Act that was put in place to protect consumers when purchasing something on credit. The National Credit Act includes a set of "Affordability" guidelines that all credit providers must follow to ensure that consumers have the financial means to repay the credit we provide them with.
In order to perform this affordability assessment, homechoice requires your income and expenses information. The information gathered will only be used by homechoice, and it is to help us ensure you have enough disposable income for this purchase and as much as possible for future orders.
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa).
What is the difference between gross, net and other income?
Gross monthly income
Your income from your main job before any deductions (like tax, UIF or your personal expenses).
Net Monthly Income
The amount that gets paid to you every month after deductions like tax and UIF.
Your living expenses and credit repayments should not be taken off your net monthly income.
Other monthly income
Any extra monthly income from other sources such as grants, allowances, commission, etc. We need to
know all your sources of income in order to perform a complete affordability assessment and qualify you for credit.
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa)
What is "monthly living expenses"?
Monthly living expenses
Necessary monthly living expenses are expenses that you pay for things like food, accommodation,
transport, medical, maintenance, education, water and electricity. This amount should not include
your credit commitments such as bond, loans, car repayments or store cards.
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa)
How do I send my proof of income documents?
Here are 4 easy ways to submit your proof of income documents
We do it for you!
With your permission, if you bank with ABSA, Nedbank or Standard Bank, they can send us your bank statement on your behalf.
- It's 100% safe
- All the information is kept confidential
- FREE service
- We won't debit your account without your permission
WhatsApp or SMS
Send us a clear photo of your documents to 0714100031 (outside SA +27714100031).
* Please include your ID number on every page.
Upload
Open the browser on your phone or computer and go to www.homechoice.co.za/mydocs.
Click on 'Upload your documents' and follow the steps to upload your documents.
How to take a clear photo of your proof of income documents
Include your ID
number on every page.
Hold your phone or
camera directly above
your documents
(not at an angle)
Make sure you can
see the whole
document and take
a photo
Check that you can
read everything
clearly
How much credit do I qualify for?
You can find out how much you can spend on credit with us by providing us with certain personal details and giving us permission to contact the credit bureau to establish your credit worthiness. Please be aware that any amount of credit offered to you is subject to our credit approval process at the time of ordering and as a result may change. The amount of credit that you are approved for will depend on many factors including your current salary and your credit record.
For an estimate credit amount, please click here.
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa)
What is "credit cost multiple"?
Credit cost multiple
This shows you how much more you pay, in total, over the agreed payment terms when you buy on credit and is calculated as the total cost of credit divided by the principle debt for the item ordered.
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa)
Can I pay for part of my order using cash?
No, at this stage you can either pay cash or purchase on your credit account facility, but not both on one order.
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa)
Where can I check my credit limit?
Checking your credit limit
- Simply sign into your online account at homechoice.co.za. Your available credit limit will appear at the top of the page, next to your name.
- Dial *120*466324# from your cellphone
- Enter your 4-digit PIN
- Select option 2. Account query
- Select option 1. How much can I spend?
To find out how to register for this option, click here. You must be an existing South African homechoice account holder to use this option.
- Contact our call centre on 0861466324 (South Africa) or +27216801300 (Outside South Africa)
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa).
Can I increase my credit limit?
Yes, if your salary increases or you pay off other credit accounts and have more disposable income, you could qualify for more credit. Just contact our call centre on 0861466324 (South Africa) or +27216801300 (Outside South Africa) for a quick credit limit check. Remember, as a responsible credit provider, we aim to protect you against over-indebtness and give you the credit you deserve. Therefore, you will need to answer some questions about your income and expenses, and provide us with proof of income.
Click here to find out how to submit your proof of income documents.
How do I manage my credit account wisely?
Here are a few tips on how to manage your credit account wisely:
- Think carefully about your payment term, as you pay more interest over longer terms
- Keep track of your balance and expected monthly payment
- Check your monthly statement and contact us if you don't receive it
- A debit order ensures your account is always paid on time
- Pay a little extra each month to save on future charges as interest is calculated daily
- Always make sure you pay your minimum instalment
- Missing a payment will result in additional interest being charged
- Unforeseen circumstances can cause financial strain. Contact us on 0861466324 (South Africa) or +27216801300 (Outside South Africa) to assist with suitable arrangements
- Ensure that we have your correct telephone number so we can remind you of payments
Click here to open your homechoice credit facility account or contact our call centre at 0861466324 (South Africa) or +27216801300 (Outside South Africa)
How do I apply for a finchoice loan?
Get your FinChoice loan in a few easy steps
See how much you could qualify for:
- Step 1: Log onto www.finchoice.mobi or call us on 0861346246.
- Step 2: Enter your ID number and cellphone number.
- Step 3: See how much you could qualify for.
- Step 4: Follow the easy steps to apply.
- Step 5: The money will be in your bank account within 24 hours.