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Affordable Consumer Durable Loan
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Minimum Documentation -
Instant Approval
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Higher Limits
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Easy Repayment Options
Why InvestKraft?
We are India’s fastest growing fintech company with all BFSI services on one platform.
Get a Consumer Durable Loan up to 50 Lakhs
What is a Consumer Durable Loan?
A consumer durable loan is a type of personal loan that helps you buy home appliances, electronics, and other essential items like LED TVs, smartphones, washing machines, furniture, refrigerators, and laptops. The loan amount is usually from INR 10,000 to INR 5 lakhs. At InvestKraft, we offer quick, simple, and fully digital online consumer durable loans designed for all kinds of household items and durables.
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Consumer Durable Loan EMI Calculator
Now, calculate easily the EMIs you need to pay for your consumer durable loan, using the InvestKraft consumer durable loan EMI calculator.
Features and Benefits of Consumer Durable Loan From InvestKraft
The following are some of the unique features and benefits of a consumer durable loan from InvestKraft:
| Features | Details |
|---|---|
| Total Product Financing | Get full value financing for any gadget or appliance. No down payment needed. Ideal for big purchases like phones, TVs, or furniture. |
| Higher Loan Amounts | Whether it is a small item or a full home upgrade, our consumer durable loan covers everything. |
| Quick and Easy Online Process | Apply for your consumer durable loan online and get instant approval in minutes. |
| Flexible EMIs | Repay in easy EMIs that suit your monthly budget. |
| Minimal Documentation | No paperwork overload. Just basic KYC and product invoice required. |
| Low Interest Rates | Enjoy affordable rates lower than most market options. |
| No Prepayment Charges | Pay early if you want. Zero penalty on prepayment. |
| Zero Collateral Required | Get a consumer loan online without pledging any asset or security. |
| Support for Low CIBIL Score | Have a low credit score? No need to worry. We help with consumer durable loans for low CIBIL scores too. |
| Trusted by Thousands | Join thousands of happy customers who have used our loan for purchases from mobiles to modular kitchens. |
Easy repayment terms
Whether you take a consumer durable loan of Rs. 10000 or 1 lac, you can choose to repay the borrowed amount in easy and affordable EMIs. Once taken, you would love to come back to Investkraft for your next equipment purchase.
Minimal Documentation
In today’s times of digitization, Investkraft believes in cutting the crap and doing this quickly and easily. We ask for fewer documents to approve your consumer durable loan application which means an easy to finance your household purchases.
Affordable Interest Rates
Our consumer durable loan comes with exceptionally reasonable interest rates than what our competitors offer. So, you can easily fulfil that long-cherished dream of owning a new gadget or buying something much-needed for your loved ones with our loan offer.
Quick Approval
Due to our digital loan application and approval process, it doesn’t take more than a few minutes to get your loan approved. So, never miss a chance with us when it comes to buying something at the best rates.
Loan amount of up to Rs. 10 lakh
At Investkraft, we believe that everything comes at a cost and the materialistic things around us also carry some cost. So, our consumer durable loans are designed in such a way to help you buy the thing you always wanted without worrying about finance.
Zero Collateral
To avail of a consumer durable loan from Investkraft, you don’t need to pledge any security or collateral with us. Our consumer durable is an unsecured loan which means after getting the approval on your loan application, you can easily purchase the said equipment without paying anything to the supplier.
No Prepayment Penalty
You can easily choose to prepay your pending loan amount without facing any kind of penalty amount. This makes Investkraft’s consumer durable loan the most preferred option across all aspects of equipment purchase.
Do not compromise with your desires or necessary upgrades. Apply for InvestKraft consumer durable loan today.
Who Can Apply for a Consumer Durable Loan?
The following can apply for a consumer durable loan:
| Eligible Group | Details | Apply Link |
|---|---|---|
| Salaried Individuals | With a steady income and decent credit history, you can apply for a consumer durable loan. | Apply Now |
| Government Employees | Employees of central, state, or public sector units. | Apply Now |
| Self-Employed Professionals | Freelancers, consultants, and independent professionals with proof of income and decent repayment history. | Apply Now |
| Business Owners | Running a profitable business? Use a consumer loan online to buy electronics or appliances needed for your store or office. | Apply Now |
| Small Shop Owners | From kirana shop owners to boutique operators. | Apply Now |
| Homemakers | Homemakers can apply to upgrade their homes without burning a hole in their pocket. | Apply Now |
| Newlyweds and Couples | Starting a new chapter? Furnish your dream home with everything you need using easy EMIs. | Apply Now |
| Tech Lovers and Gadget Freaks | Want the latest iPhone or PlayStation? Apply for a mobile phone loan or product loan and upgrade your lifestyle instantly, even with a low CIBIL score. | Apply Now |
Individuals who are employed in the private sector but have a stable income and a good credit history are eligible for consumer durable loans to buy electronics, appliances, or other durable goods.
Individuals working in a government department can apply for a Consumer Durable Loan to finance the purchasing of home appliances, electronics, and more goods for households at an attractive rate of interest.
Self-employed professionals with a verifiable income and a strong credit profile may also be eligible for consumer durable loans.
Small business owners with a profitable business and a good credit standing can sometimes apply for consumer durable loans for business-related purchases.
Shop owners or service providers can utilize these loans to buy necessary electronics like cash registers, TVs, or display units.
Individuals keen on upgrading to the latest smartphones, smartwatches, or gaming consoles can avail of these loans for easy and affordable upgrades.
Women managing households can use consumer durable loans to purchase kitchen appliances, furniture, or home entertainment systems conveniently.
Couples setting up their new homes can use these loans to furnish and equip their living space with modern essentials.
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Eligibility Criteria for a Consumer Durable Loan
Looking to apply for a consumer loan at Investkraft? Do look at the eligibility criteria before proceeding further.
- Age: The age of the applicant should be between 21 years-65 years.
- Occupation: The applicant can be either a salaried employee or self-employed for at least one year
- CIBIL Score: The applicant should have a CIBIL or credit score of a minimum of 700.
- Monthly Salary: The minimum monthly salary of the applicant must be Rs 15,000, given the city of residence.
Documents Required for a Consumer Durable Loan
The next thing to look for is the documents required to avail a consumer durable loan from Investkraft.
For Salaried Individuals
- Proof of Identity:
- Self-attested photocopy of any one of the following:
- Driving license
- Passport
- Voters ID
- Aadhaar
- PAN
- KYC:
- Valid identity/Residence/Signature proof
- Income proof:
- Form 16/ITR for the last 3 years
- Latest 3 months' salary slip
- Banking:
- Latest 3 months’ Salary Credit Bank Statement.
For Self-employed Individuals
- Identity & Age Proof – Aadhaar Card
- Completely filled out a personal loan application with photograph
- PAN Card
- Residence proof - Passport driving licence, Voter ID, postpaid/landline bill, utility bills (electricity/water/gas)
- Bank statements for the last 3 months(preferably your salary account)
- Salary Slips for the last 3 months
- Last 3 years' Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
How To Apply For a Consumer Durable Loan from InvestKraft?
Getting a consumer durable loan from InvestKraft is simple and convenient. All you need to do is follow three simple steps:
Apply Consumer Durable Loan
1Fill in Your Details
Start by filling out our easy application form with your basic information and click Submit. You can use our app to get a vehicle loan as well.
2 Upload Your Documents
Submit the required documents online, such as ID proof, income proof, and bank statements. These will be communicated to you once you provide your basic information.
3 Get the Funds
Once your documents are verified and the loan is approved, the required amount will be credited directly to your bank account.
Consumer Durable Loan Interest Rates and Other Charges
A consumer durable loan is a type of personal loan, which is why interest is incurred on it. The following table clearly shows interest rates and other charges associated with consumer durable loan:
| Fee Type | Details |
|---|---|
| Interest Rate | Generally ranges between 12% to 22% per annum. Some lenders may even offer 0% interest EMI schemes on select products. |
| Processing Charges | A one-time fee, usually between 0% to 6% of the loan amount, is charged during disbursement. |
| Pre-closure Charges | If you decide to repay your loan early, you may be charged a 3% fee on the outstanding principal, plus 18% GST. |
| EMI Bounce Charges | In case of missed payments, lenders may charge INR 500 + applicable taxes per bounced EMI. |
| Late Payment Penalty | A fixed penalty may be levied if your EMI is not paid on time, in addition to the due amount. This varies by lender. |
Please note that these charges depend on the lender and may vary according to the marketing conditions. We recommend that you check the official website before applying.
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Frequently Asked Questions
A consumer durable loan is a kind of personal loan in which the loan amount can be used to finance electronic gadgets and household appliances like smartphones, washing machines, furniture, LED TVs, and others in the form of easy EMIs.
The interest rate on a consumer durable loan varies from lender to lender. So, you can check with your lender about the interest rate it is charging against the purchase.
At InvestKraft you will find many lenders under a single roof willing to offer you the required consumer loan subject to fulfilment of the eligibility criteria. Moreover, there are several other advantages of InvestKraft in comparison to others.
Digital Journey
Lower Interest Rates
Easy Documentation Process
