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Furniture Loan: How to Get a Loan for Home Furniture?

Furniture Loan

Whether you want to buy furniture for your new home or replace old furniture with modern designs, the cost may be costlier than you think. When you add the costs, it may put a dent in your savings. However, you no longer need to spend huge amounts on buying furniture at once, you can get a Furniture Loan from Hero FinCorp. It is a type of Personal Loan offering an amount of up to Rs 5 Lakh at competitive interest rates and flexible repayment tenures. You can use it to purchase the latest furniture designs without straining your finances.

Financing Furniture through a Furniture Loan

Furniture is an essential item that completes the look and functionality of your house. From buying cupboards to sofas, you want the best pieces to comfort your living space. Buying furniture on loan makes the purchase more manageable without exhausting your savings and keeping them intact for emergencies. Thus, a home Furniture Loan is specifically designed to buy your desired furniture without paying its cost upfront.

Furniture finance is nothing but a Personal Loan, You can use the loan amount for any purpose, such as buying furniture. Moreover, these loans have attractive interest rates, easy eligibility conditions, minimal documentation requirements, and 100% digital loan procedures. 

You can easily opt for a loan for furniture to avoid paying the furniture cost upfront. Flexible EMI options make the Furniture loans more accessible and affordable, letting you upgrade your home without excessive financial burden.

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Advantages of Buying Furniture on a Loan

Buying furniture on loan offers multi-faceted advantages over paying its cost upfront. Let’s take a look.

  • No need to consume your savings and emergency funds.
  • Freedom to use the loan amount.
  • Reasonable interest rates do not increase furniture costs significantly.
  • Flexible repayment terms keep the EMIs easily manageable.
  • No collateral, guarantor, or security requirement make the loan risk-free.

How does getting Furniture on Loan Works?

Are you wondering how to get a loan for home furniture? Here is a stepwise procedure:

  • Evaluate your requirements and decide upon an adequate loan amount.
  • Use a Personal Loan EMI Calculator to choose a loan term with budget-friendly EMIs. 
  • Apply for a Personal Loan for furniture on the Hero FinCorp website or instant personal loan app.
  • After verifying your details and documents, Hero FinCorp will disburse the loan amount directly into your bank account.
  • Use the loan amount to purchase the furniture you desire.
  • The repayment period starts from the day of borrowing. You must pay one EMI monthly to repay the loan with interest over the pre-determined repayment tenure.

Also Read: How Can A Personal Loan Assist You In Purchasing Home Furniture?

How a Personal Loan Helps You to Get Furniture on EMI?

Here is how a Hero FinCorp Personal Loan helps you get your desired furniture on EMIs:

  • Easy eligibility and minimal documentation requirements make furniture finance easily accessible.
  • 100% digital loan procedure facilitates easy and quick approval without a long waiting time.
  • Provides an ample loan amount of up to Rs 5 Lakh to cover the cost of furniture purchase.
  • Lets you spread the furniture cost into EMIs.
  • Gives flexibility of repayment by allowing you to choose a tenure of up to 60  months with affordable EMIs.

Also Read: 7 Budget-Friendly Home Improvement Ideas

How to Apply for a Personal Loan Online?

A Personal Loan for furniture lets you buy home furniture in instalments without using your credit card or emergency funds. Follow these steps to apply for a Furniture Loan with Hero FinCorp: 

  • Visit the Hero FinCorp website or loan app.
  • Check your Personal Loan eligibility, evaluate an appropriate loan amount, and select a tenure with budget-friendly EMIs.
  • Go to the Personal Loan page and click ‘Apply Now’.
  • Enter your contact details and other required information.
  • Scan and upload the necessary documents.
  • Click on ‘Apply for the Loan.’

After verification, you will receive a loan offer you must review and accept to get disbursal directly into your bank account.

Also Read: Remodelling Home In Budget? Personal Loan Can Help You Save The Day

Conclusion

Buying furniture on loan is an intelligent way to enhance your house interior with aesthetically appealing furnishings. However, since purchasing it from your savings is expensive, a Personal Loan for furniture from Hero FinCorp can help you buy the furniture you choose without straining you financially. Enjoy competitive interest rates, flexible repayment terms, and minimal documentation requirements for instant loan application. So, apply now without waiting any longer.

Frequently Asked Questions

1. What is a Furniture Loan?

Furniture is a Personal Loan used to buy or upgrade your home furniture.

2. Do I need collateral for a Furniture Loan?

Since a loan for furniture is a Personal Loan, it is unsecured and does not need any collateral for security.

3. How much can I borrow with a Furniture Loan?

At Hero FinCorp, you can borrow a home Furniture Loan of up to Rs 5 Lakh.

4. Is my credit score important for a Furniture Loan?

The credit score is an important 3-digit number indicating your creditworthiness and repayment history. Lending institutions give due consideration to it when evaluating your loan application.

5. Can I get a loan for a sofa?

A Personal Loan has no end-use restrictions. You can use it to purchase a sofa or any other furniture item.


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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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