Are you planning to upgrade your home with new appliances? It is likely that you do not have adequate money to buy these electronics. The solution is applying for a loan to purchase various consumer durable products.
Here are four features and benefits of these loans.
- Larger amounts with easy repayment
Several lenders provide up to 90% finance for consumer durable loans. Furthermore, the period is longer ensuring you are able to repay without facing any liquidity crunches.
These loans are often available at 0% interest and require low Down payments. Furthermore, the processing fees are nominal with no hidden costs. These features make it affordable for you to apply for a consumer durable loan.
Such loans may be used for buying several products. Some of these include LED TV, Smartphones, laptops, washing machine, audio and home theater system, refrigerators, and air conditioners. This makes such loans versatile and allows you to adorn your home with the latest high-tech appliances with easy Equated Monthly Installments (EMIs).
- No blocking credit card limits
When you purchase any product using the option of credit card EMI, you block the available limit. However, when you opt for these loans, you are able to purchase consumer durables through an EMI without a credit card. This allows you to enjoy the complete credit limit available on your card.
These types of loans are available in most cities in India. A few include Pune, Mumbai, Chandigarh, Chennai, Delhi, and much more. If you choose to buy a washing machine without credit card or any other household appliance with this loan it would help you to improve your cash flow management. This is because the EMI option is affordable and prevents you from facing any financial constraints while paying off the loan.