A to Z of consumer durable loans

A consumer durable loan is a finance option for the purchase of household items like washing machines, refrigerators, air-conditioners, LED TVs, and microwaves.
A to Z of consumer durable loans
2 min read
5 Apr 2023

The demand for consumer durable products never ceases. Who does not want to relax after a stressful day by watching your favourite programs on a giant LED screen in the comfort of an air-conditioned room? You might need a washing machine to save you the chore of cleaning your clothes.

However, not everyone has enough liquid cash to pay for these home appliances in full. That is where consumer durable loans come in. They enable you to spread the cost of your appliances across a period, whenever you receive your income, without having to part away with your cash on the spot.

So, whether you are looking to upgrade your home with new furniture or want to own the latest gadgets, a consumer durable loan can help.

What is a consumer durable loan?

A consumer durable loan is a finance option for the purchase of household items like washing machines, refrigerators, air-conditioners, LED TVs, and microwaves. You can obtain a consumer durable loan from financiers like Bajaj Finserv to fund all your purchases and pay back in flexible tenures as per your convenience. What is more, you can avail of them easily at zero or low interest rates and get financing for up to 100% of your purchases.

Interest rates and other charges

Interest rates on consumer durable loans are lower than those on personal loans or credit cards. Bajaj Finserv offers No Cost EMIs (with zero interest charge) on selected products on the Bajaj Finserv Insta EMI Card. Interest rates may differ from one lender to another, and you should compare them before availing of the loan. Few lenders may also charge a nominal processing fee on your loan amount.


The duration or tenure of the loan reflects the number of instalments that you need to pay. The tenure for repayment of consumer durable loans generally ranges 3-24-months, but it differs for different lenders and for the different products you purchase. Note that it is beneficial to choose a short tenure to save on the interest amount. However, with ‘No Cost EMI’ schemes, you can even opt for a longer tenure without it affecting the interest.

How much financing does a consumer durable loan offer?

The down payment is the money that you must pay out of your pocket for your purchase, after the approval of the loan. Generally, financial institutions provide only up to 80-90% financing on the actual price of the product. This means that you need to make a down payment of 10-20% of your purchase cost. However, there are lenders that provide up to 100% financing, and you are not required to make any down payment.

Thus, consumer durable loans are a smart way to make things affordable, which would otherwise have been difficult with a limited income. With minimal documentation and instant approval, you can avail of hassle-free loans of up to Rs. 4 lakh with Bajaj Finserv EMI Network. Enjoy exclusive pre-approved offers on home loans, personal loans, and other financial services from Bajaj Finserv by simply sharing a few details.


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