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Consumer Durable Loan in India



It often happens that you want to buy a TV, laptop, refrigerators, microwaves, or other households but you do not have enough money, in that case, you can take consumer durable loan. For many people, it is not easy to buy a consumer durable by paying all the money at once, so they should go for consumer durable loan.

Document Required For Consumer Durable Loan:-

  • Identity Proof such as Aadhar card, PAN card, Voter Id card etc.
  • Address Proof such as Aadhar Card, utility bill, Voter id card etc
  • Income proof such as bank statement or latest salary slip.
  • Two passport size two photographs

Who is eligible for consumer durable loan:-

  • All those who are between 21 to 75 years old can avail this loan.
  • For availing this loan you should have a regular income.

How to apply for Consumer durable loan:-

  • Visit https://www.bankagent.in/ or official bank website by which you want to take a loan
  • Select the consumer durable loan option
  • Fill the form and submit it with the documents
  • You will get a loan approval id note it down, you may need it when you go to buy goods.

Benefits of consumer durable loan:-

Minimum down payment and easy repayment:-

Like other loans, you do not have to pay much money for the down payment, you can make a down payment at a very low amount. The EMI of this loan is so low that the borrower does not face any difficulty in returning the money and he is able to pay back the borrowed amount easily.

No hidden charges:-

There are many other loans in which there are many hidden charges which you know after availing a loan, but in this loan, there is no hidden charges.

No collateral:-

The best thing about this loan is that you do not have to submit any of your assets as security.

Instant approval:-

In this loan, you get instant approval, like the other loan, you do not have to wait to get approved. Cause you immediately get approved, you don’t even have to wait for fulfil your wish.

Minimal documentation and easy process:-

Its process is so easy that customers do not face any difficulty while applying it. You do not need much document for availing this loan, you can avail this loan with just a few basic documents.

Higher amount:-

This loan offers you a higher amount so that you have no difficulty in getting your goods and can easily fulfil your wish.

No interest rate:-

There are some banks which offer 0% interest rate on the loan amount.

List of lenders which offers consumer durable loan:-

  • Bajaj Finserv Durable Finance
  • Tata Capital Consumer Durable Loans
  • HDFC Consumer Consumer Durable Loan
  • Dena Bank Consumer Durable Loan
  • Capital first Instant Consumer Durable Loans
  • Home Credit Consumer Durable Loan

Benefits of Bajaj Finserv consumer durable loan:-

  • No interest rate at the borrowed amount
  • Bajaj Finserv offers up to 15 lakh to the customer
  • There are no hidden charges
  • There is no charge for foreclosure of the loan

Benefits of Tata Capital consumer durable loan:-

  • Flexible EMI and hassle-free repayment
  • No collateral and 0% interest rate
  • No charge for foreclosure of the loan
  • Tata Capital offers up to 1.5 lakh to the customer
  • Maximum tenure is up to 24 months

Benefits of HDFC Consumer durable loan:-

  • HDFC offers up to Rs 15 lakh for the loan
  • Maximum tenure is up to 36 months
  • You will get 100% financing with a minimum product value Rs 40,000

Benefits of Dena Bank Consumer durable loan:-

  • Maximum tenure is up to 36 months
  • Dena offers up to Rs 1 lakh for the loan
  • Low processing and low-interest rate
  • low processing fee and no prepayment charges

Benefits of Capital first Consumer durable loan:-

  • Maximum tenure is up to 36 months
  • instant approval in 2 minute
  • Capital first offers a loan amount from Rs 5,000 to Rs 5 lakh
  • Foreclose charges are nil