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Buy the Latest AC on EMI!

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Loan up to ₹5 Lakhs
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Minimum Salary Required ₹15K
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Instant Approval
Personal Loan EMI Calculator

Monthly EMI

₹ 0

Interest Payable

₹ 0

Buy an AC on EMI without a Credit Card

As soon as the summer season starts, the demand for AC increases in the market. However, many postpone their plan due to a lack of finances. That is when a personal loan for AC online provides the much-needed financial support to purchase the AC of your choice! 
Hero FinCorp is one of the most reputable NBFCs offering Personal Loans of up to Rs. 5 Lakh at an interest rate starting from 19%.. These loans are collateral-free and have no end-use restrictions, so you can use them to buy expensive consumer durables like air conditioners. Moreover, they save you from using your credit card, helping you control your CUR and improve your credit score. 
 

Features and Benefits of Buying AC on EMI Without Credit Card

Purchasing an AC on EMI without credit card and taking a loan offers many benefits. Those that matter the most include the following:

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Pocket-Friendly

A loan makes expensive AC models affordable, allowing you to choose based on preferences.
 

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Attractive Interest Rate

Hero FinCorp offers Personal Loans with interest rates starting at 19% per annum, making AC purchases affordable.
 

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Collateral-Free

Hero FinCorp offers collateral-free loans based on credibility, repayment capacity, and eligibility.
 

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Flexible Repayment Tenure

Repay your loan in up to 36 months with flexible EMIs as per budget.
 

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Instant Approval

No paperwork, collateral, or visits speed up loan approval, making it ideal for buying AC on EMI deals.
 

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No Additional Paperwork

Hero FinCorp’s 100% digital loan process lets you apply and upload documents online easily.
 

Eligibility Criteria for Buy AC on EMI

Hero FinCorp personal loan eligibility criteria are transparent and precise, making Personal Loans accessible to most without hassle. The eligibility criteria to obtain a personal loan for AC online include the following:

CriteriaRequirement
AgeYou must fall within the age bracket of 21 to 58.
CitizenshipHero FinCorp Personal Loans are accessible to Indian citizens only.
Work Experience Salaried applicants need 6 months' job experience; self-employed must have 2 years in business.
Monthly IncomeYour monthly income should be a minimum of ₹ 15,000 to qualify for a loan.

Documents Required to Buy AC on EMI

When applying for a Personal Loan at Hero FinCorp, you don't need to worry about hefty documentation and time-consuming procedures. All you need to do is gather documents for identity proof, address proof and employment proof, scan them digitally, and save their soft copies on your device. When prompted, you must upload these personal loan documents online through the website or loan app. The entire process is digital and does not involve branch visits or paperwork.
 

Documents required for Salaried

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Proof of Photo Identity

Driving License, Passport, PAN Card, Aadhaar Card

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Mandatory Documents

Loan Application Form, Passport Size Photo

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Proof of Income

6 Months’ Salary Slips & Bank Statements, Form 16

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Job Continuity Proof

Appointment Letter from Current Employer

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Proof of Residence

Driving License, Passport, Aadhaar Card, Utility Bill

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Additional Documents (Self-Employed Only)

N/A

Documents required for Self Employed

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Proof of Photo Identity

Driving License, Passport, PAN Card, Aadhaar Card

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Mandatory Documents

Loan Application Form, Passport Size Photo

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Proof of Income

Last 6 Months Bank Statements, ITR for Last 2 Years

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Job Continuity Proof

N/A

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Proof of Residence

Maintenance Bill, Utility Bill, Property Documents, Rent Agreement

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Additional Documents (Self-Employed Only)

Copy of Tax Registration, Shop Establishment Proof, Company's Registration Certificate

Interest Rates and Charges on Personal Loan for Bank Employees

The interest rate on personal loan for AC does not exceed 30% at Hero FinCorp. However, the final interest rate you pay depends on your credit history, repayment capacity, DTI ratio, and other crucial factors. That is why it is important to make all your payments on time, take loans sparingly, and minimize credit card usage to buy an AC on loan at attractive interest rates.
 

Interest Rate

Starting from 19% p.a.

Loan Processing Charges

Minimum Processing fee is 2.5%+ GST

Prepayment Charges

N.A.

Foreclosure Charges

5% + GST

EMI Bounce Charges

Rs 350/-

Interest on Overdue EMIs

1-2% of the loan/EMI Overdue Amount Per Month

Cheque Bounce

Fixed Nominal Penalty

Loan Cancellation

1. Online loan app does not charge any cancellation charges

2. Interest amount paid is non-refundable

3. Processing charges are also non-refundable

How to Apply for a Personal Loan for Bank Employees?

Have you decided to buy AC on EMI using a Hero FinCorp Personal Loan? Follow this stepwise procedure to apply for a personal loan for AC online and get the required funding in minutes:
 

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  • 1

    Visit the Hero FinCorp website or install the Personal Loan app

  • 2

    Go to the Personal Loan page and click ‘Apply Now

  • 3

    Enter your mobile number and verify with the OTP received

  • 4

    Choose the loan amount you need

  • 5

    Verify your KYC details to check income eligibility

  • 6

    Click ‘Submit’ to complete your application

What Our Clients Say About Us

It's a great appreciation for obtaining the best personal loan with the fewest papers necessary and promptly disbursing loan ...funds. I truly appreciate your assistance. Simple procedure and a user-friendly interface. There are no problems, inquiries or anything else as long as you pay.

Savi Gupta

Herofincorp has great funds for various purposes. I got the best personal loan offer compared to interest rates, terms, and fees for ...my best financial situation. Thanks for your assistance.

Rashi Kohli

It is a simple procedure. For financial emergencies, it is the best option. Thanks for their assistance. Adaptable and well-balanced. You can acquire an immediate loan transfer with Hero FinCorp.

Lalji Soni

Processing is quick, and had great experiences with this personal loan application and service. I appreciate customer support's gentle communication in helping the process go more smoothly. interest rates provided on the personal loan is the lowest in market. Overall experience good. I'm grateful.

Raj Chaudhary

I have been looking for a platform that allows me to borrow money quickly, it is convenient, safe and reliable to borrow money on this practical and reliable platform.

Kadam Kailash

Frequently Asked Questions

You can buy an AC on EMI using a Hero FinCorp Personal Loan. The loan distributes the appliance’s cost into EMIs, which you can repay in budget-friendly monthly payments.
When you borrow a loan on AC, be prepared to pay a few additional charges, including the processing fee, EMI bounce charges, prepayment charges, documentation charges, and convenience fees.
The documentation requirements vary for salaried and self-employed individuals. KYC documents like identity and address proofs are standard. But salaried employees must submit their salary slips, salary account statements, etc., and self-employed individuals must submit their ITR, bank accounts, etc., to prove their income.

Here are the advantages of buying an AC on EMI: 

  • Cost of AC distributed in instalments 
  • Pocket-friendly EMIs that do not stress the finances 
  • Access to a costlier AC model on a budget