Looking to buy an AC or a new LED TV on EMI to upgrade your lifestyle? Want to refurnish your home?
Get the MoneyTap app for a personal loan with a line of credit that you can use as a consumer durable loan to purchase a wide variety of big-ticket items like ACs, TVs, refrigerators, smartphones, washing machines and other appliances on comfortable EMIs.
Looking to buy an AC or a new LED TV on EMI to upgrade your lifestyle? Want to refurnish your home? Get the MoneyTap app for a personal loan with a line of credit that you can use as a consumer durable loan to purchase a wide variety of big-ticket items like ACs, TVs, refrigerators, washing machines, smartphones and other appliances on easy EMIs.
Consumer Durable Loan Interest Rate and Eligibility
Rate of Interest
Varies from 13% to 24.03% pa
23 or above
Minimum Salary Required
Starting from ₹ 3,000 to ₹ 5 Lakh
MoneyTap’s Personal Loan Features and Benefits:
Get a line of credit of up to ₹ 5 Lakh approved in real-time
Withdraw as little as ₹ 3,000 or what you need or as much as your approved limit
Pay interest only on the amount used and not on the entire amount approved for you
Enjoy 100% cash withdrawals with MoneyTap Credit Card 2.0
Repay your card spends in flexible EMIs as you choose the payment period that ranges anywhere from 2 months to 36 months.
You just need a valid address proof and a government recognized ID to get started
I’m a diehard cricket fan and this year I plan to watch the match on a smart HD TV. The only problem is that my appraisal bonus will only come in later, and the IPL will starts before my bonus comes. I used MoneyTap to get a flatscreen TV and set it up just in time for the IPL. I’ll repay once my bonus is in! Thanks, guys!
- Pradeep Ahuja
Consumer Durable Loan EMI Calculator
The EMI calculator for consumer durable loan helps you to determine the monthly instalment to be paid towards your loan. You can also tweak the loan parameters to suit your preference and requirement to derive at the EMI amount that is suitable for you.
Need to buy multiple electronic appliances at one time
You are starting afresh and need an additional source of finance
You are looking to upgrade your home/lifestyle
Want to buy the latest gadget in the market
No need to save up for years to be able to make purchases you need for your home and family to improve your quality of life. Now, with MoneyTap’s line of credit, you can simply apply for a personal loan for consumer durables and fulfil all your needs!
Products You Can Purchase Using a Consumer Durable Loan:
Sofas & Bedding
Cook Tops & Hubs
Home Exercise Equipment
Smart Home Appliances
Home Entertainment System
Bathroom Fittings and Accessories
Download for FREE!
Why Use MoneyTap to Fund Your Purchases?
An affordable consumer durable loan that suits your needs.
Freedom to apply for a higher amount for additional expenses - MoneyTap lets you save on interest rates and allows you to decide the repayment terms.
Get a higher credit limit approved but only use what is actually required, no need to withdraw it all at once.
Freedom to pay interest on the amount used and not the amount approved.
Tips to Keep in Mind When Selecting a Financing Option to Buy Consumer Durables:
When deciding between a consumer durable loan and a personal loan to buy big-ticket items for your home, be sure to check the interest rates before finalizing on your financing option.
Most consumer durable loans have extremely short payback periods. So, if you have to make a big purchase and are strapped for cash, it is best to go for a personal loan so your repayment period is flexible.
Consumer durable loans only provide 80-90% of the total amount, whereas a personal loan gives you a lump sum which can be used as per your convenience.
When narrowing down on a financing option to purchase consumer durables, be sure to incorporate the hidden costs such as processing fees that will also be deducted from the loan amount before selecting the best consumer durable loan option on hand.
With MoneyTap’s line of credit you will have money available instantly 24x7 to use anytime, anywhere. Click below to experience its power.
A consumer durable loan is a finance option that can be used to purchase one or more expensive household appliances on affordable EMIs - like an AC on EMI or an LED TV on EMI by removing your immediate financial burden.
If you don’t want to wait for a long time or dip into your savings, a loan is a perfect solution to add luxury to your life with zero down payments.
Yes, you can buy the home appliances on EMI without a credit card by using options such as debit (ATM) cards, EMI cards, consumer durable loans or personal loans.
If you want to buy household appliances like an AC, washing machine or an LED TV on EMI but don’t have a credit card you can apply for MoneyTap's easy small loan that does not subject you to the hassles of paperwork.