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How to buy Consumer Durables on EMI without Credit card?

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Nowadays with the innovative and latest technology, consumer durable goods are in high demand. Consumer durable products include home appliances, automobiles, furnishings, mobile phones, computers, and many more, which have a warranty period of 1 year or more are categorized as consumer durable products.
 
People buy consumer durable products frequently on their credit cards and repay the amount in small chunks on EMIs. Credit card is one of the most common sources for purchasing consumer durable goods. So, when there is a shortage of funds or the product amount is heavy to pay at once, people often use credit cards and end up paying EMIs at a high-interest rate.
 

What are the various ways to buy consumer durable on EMIs without a Credit card?


 If you do not wish to use your credit card, you can go for a consumer durable loan at an affordable interest rate and EMI without a credit card. You can also use a debit card and purchase appliances on EMI, but this might affect your monthly budget, as a debit card is linked to your salary account and a very handful of people may like to use their debit card.
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Hence, a consumer durable loan is a kind of personal loan and a preferred option for buying consumer durables at affordable EMIs without a credit card.
 
Several FinTech companies and NBFCs offer consumer durable loans at an attractive interest rate and are flexible to use. One such leading FinTech company in India Hero FinCorp launched Herofincorp, an instant personal loan app for various purposes like home renovation, marriage, debt consolidation, consumer durable loan, and many more, applicable for both salaried and self-employed individuals with basic eligibility criteria.
 
Herofincorp loan app is a completely digitized user-friendly app and a one-way solution to your consumer durable purchases, easily with customized EMIs without using a credit card. EMIs can be set in advance with flexibly moving the variables to derive an affordable EMI. Consumer durable loans are also personal loans and can be availed instantly with an online application.
 
Herofincorp instant cash loan holds seamless features and benefits to buying Consumer durables on EMI without a credit card.
 

Features and Benefits of Consumer Durable loan on EMI without Credit card via Herofincorp

 
  • Quick disbursal within a few minutes
  • Real-time approval in seconds
  • Flexible repayment tenure within 24 months
  • No physical documentation required
  • Collateral-free loan, no security or guarantor is required against the loan
  • Loan amount Rs.50,000 - 1,50,000
 

Herofincorp Eligibility Criteria for consumer durable loan on EMI without credit card

 
  • Age should be between 21 – 58 years
  • A borrower should earn Rs.15,000 monthly
  • Six months bank statement is mandatory for salaried and self-employed individuals
  • A borrower should hold an Indian Nationality
 

Required documents for consumer durable loans are


Identity Proof like Aadhar card and PAN card for E-KYC verification.  
 

How to apply for Consumer durable loan via Herofincorp?


 If your refrigerator or TV needs an upgrade and you intend to buy a new one, you may browse online options or in-store products. The exorbitant price of home gadgets may compel you to buy the product in EMIs without a credit card, within a tenure of 6 months – 1 year
 
With Herofincorp instant personal loan app, you can avail a consumer durable loan quickly in a few simple steps:
 
  • Download the Herofincorp instant cash loan app from Google Play Store on your smartphone
  • Register your Mobile number or Email id for OTP verification
  • Check your EMI on the loan EMI calculator and set a monthly EMI, suitable to your budget
  • Provide your Aadhar card and PAN card number on the app
  • Fill in the application form and the purpose for taking a loan
  • Immediately within seconds of real-time verification, your loan will get approved and disbursal is initiated directly in the borrower’s bank account
 
Finally, it’s a personal choice to opt for a consumer durable loan or a credit card loan. Consider which is convenient to repay and enables the easy purchase of consumer durable products.
 

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Did You Know

Disbursement

The act of paying out money for any kind of transaction is known as disbursement. From a lending perspective this usual implies the transfer of the loan amount to the borrower. It may cover paying to operate a business, dividend payments, cash outflow etc. So if disbursements are more than revenues, then cash flow of an entity is negative, and may indicate possible insolvency.

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