The demand for consumer durable products continues to grow. After a long, tiring day, nothing feels better than relaxing with your favourite shows on a large LED TV in a cool, air-conditioned room. A washing machine can also save you valuable time and effort by taking care of your daily laundry needs.
However, paying the full price upfront for such home appliances isn’t always convenient. That’s where an EMI Card makes a difference. It allows you to purchase appliances without paying the entire amount at once and convert the cost into manageable monthly instalments.
Whether you are planning to upgrade your home with new furniture or bring home the latest gadgets, an EMI Card helps you spread the expense over time—making big purchases easier without straining your finances.
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 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 Easy EMIs (with no additional 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.
Tenure
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 to 60 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.
Benefits of buying consumer durables using Insta EMI Card
Purchasing household appliances and electronic gadgets can put pressure on your monthly budget if you pay the entire amount at once. The Bajaj Finserv Insta EMI Card makes it easier to manage such expenses by converting the product cost into convenient monthly instalments. Here are some key advantages:
- Convert big purchases into Easy EMIs: Instead of paying a large lump sum, you can divide the cost into manageable monthly instalments over a chosen tenure.
- Pre-qualified card loan offer amount up to Rs. 3 lakh: You can access a ready credit limit, which allows you to shop for multiple products without applying for a fresh loan every time.
- Flexible repayment tenures: Choose a repayment period between 3 to 60 months, depending on what suits your monthly income and financial commitments.
- Wide acceptance across India: The card is accepted at over 1.5 lakh partner stores in more than 4,000 cities and on leading e-commerce platforms.
- Zero down payment offers on select products: During festive seasons and special promotions, you may be able to buy selected appliances without paying anything upfront.
- Nil foreclosure charges: If you wish to repay your loan earlier than planned, there are no foreclosure charges.
- Instant approval process: Eligible customers can get quick approval with minimal documentation.
- Improves credit profile: Paying your EMIs on time every month can help strengthen your credit score over time.
Appliances and gadgets you can buy with Insta EMI Card
The Insta EMI Card allows you to purchase a wide range of consumer durables, making it easier to upgrade your home or personal devices without financial strain. From essential home appliances to the latest electronic gadgets, you can shop both online and offline at partner stores and convert the total amount into Easy EMIs.
Category |
Examples of products |
Televisions |
Smart TVs, LED TVs, Android TVs |
Home appliances |
Refrigerators, washing machines, air conditioners |
Kitchen appliances |
Microwave ovens, mixer grinders, induction cooktops |
Mobile devices |
Smartphones, tablets |
Computing devices |
Laptops, desktop computers |
Personal gadgets |
Smartwatches, headphones, speakers |
Insta EMI Card eligibility criteria for consumer durable loans
Before applying for an Insta EMI Card for buying consumer durables, you must meet certain basic eligibility requirements. These conditions ensure that the loan is offered responsibly and suits your repayment capacity. The criteria are simple and designed to make the application process smooth for eligible applicants.
Eligibility requirement |
Details |
Nationality |
Must be an Indian national |
Age |
Between 21 years and 65 years |
Income |
Should have a regular source of income |
Credit score |
Good credit score per Bajaj Finserv policies |
Documents required for consumer durable loans via Insta EMI Card
To purchase consumer durables using the Insta EMI Card, you need to complete a simple verification process. Keeping the required documents ready ensures faster approval and activation of your card.
Document type |
Details |
Identity proof |
PAN card |
Address proof |
Aadhaar card or other valid address proof |
Bank details |
Bank account information and IFSC code |
KYC documents |
Aadhaar or DigiLocker for online KYC verification |
How to apply Insta EMI card for consumer durable loans
Applying for the Insta EMI Card is a straightforward process and can be completed either online or at a partner store. Once approved, you can use the card to buy consumer durables and convert the cost into Easy EMIs.
Online process
- Visit the official Bajaj Finserv website.
- Enter your mobile number and verify it using OTP authentication.
- Fill in the application form to check your eligible credit limit.
- Complete KYC verification using Aadhaar or DigiLocker.
- Pay the one-time joining fee of Rs. 530.
- Register the e-mandate to activate your card.
Offline process
- Visit a Bajaj Finserv partner store.
- Submit the required documents for verification.
- Once approved, pay the joining fee to receive your card.
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. 3 lakh with Bajaj Finserv Insta EMI Card. Enjoy exclusive pre-approved offers on home loans, personal loans, and other financial services from Bajaj Finserv by simply sharing a few details.
