No Initial Payments
You can purchase designer furniture, premium electronics or a luxury piece of fashion without touching any of your savings.
Luxury Products on EMI Without a Credit Card
Loan Amount Up To Rs 5 Lakh
Interest Rates Starting At 19%* p.a
Loan Tenure 12-36 Months
Calculate Your Personal Loan EMI
What Luxury Products Can You Purchase on EMI?
Do you need to buy designer furniture, the latest electronics, expensive watches, or luxury fashion without paying the entire cost upfront? Nowadays, more people are buying luxury items on EMI with a Personal Loan. A Personal Loan allows you to buy luxury items whenever you want and repay in manageable, monthly payments without hassle.
Why Choose EMI for Buying Luxury Products?
There are plenty of benefits in buying luxury items on EMI with a Personal Loan. It is easier to buy any product and pay the cost upfront, without depending on a credit card. A flexible repayment tenure (12 to 36 months) allows you to repay in smaller instalments as per your monthly expenses and income.
Flexible EMI Options for Luxury Products
| Loan Amount (Rs) | Tenure (Months) | Interest Rate (p.a.) | Monthly EMI (Rs) | Total Interest (Rs) | Total Amount Payable (Rs) |
|---|---|---|---|---|---|
| 1,00,000 | 12 | 19% | 5,805 | 10,298 | 1,10,298 |
| 1,00,000 | 18 | 19% | 6,088 | 15,699 | 1,15,699 |
| 1,00,000 | 24 | 19% | 6,378 | 21,185 | 1,21,185 |
| 1,00,000 | 30 | 19% | 6,676 | 26,845 | 1,26,845 |
| 1,00,000 | 36 | 19% | 6,981 | 32,646 | 1,32,646 |
As you can see, the emi amount decreases as you choose a longer tenure. However, you are increasing your total loan cost since you will pay more for the same amount and the same interest on a loan. so, do use a personal loan emi calculator to choose a tenure with emis within your budget.
Benefits of EMI on Luxury Products
Easier Affordability
Easy payments translate to monthly instalments for purchasing luxury items.
Flexibility in Cash
Payments can be structured so that you can match your EMIs to your cash flow.
No Credit Cards
You will not require a credit card for purchasing luxury items on EMI with a Personal Loan from Hero FinCorp.
Keep Your Emergency Fund Untouched
By using a Personal Loan to buy luxury items, you keep your emergency fund intact.
Using an Instant personal loan for luxury items has several advantages. Whether you want to repay it in a 12/18/24/30 month payment plan or a 36-month term, you can enjoy the luxuries of life now based on a budgeted monthly payment.
Eligibility Criteria for EMI on Luxury Products
The eligibility for luxury products EMI without a credit card typically requires you to be at least 21 years old and an Indian resident with a valid ID and PAN. Hero FinCorp asks for income proof and a minimum monthly income.
| Eligibility Criteria | Details |
|---|---|
| Age | 21 to 58 Years |
| Citizenship/Residential Status | Indian Citizen Only |
| Type of Employment | Salaried & Self-Employed |
| Minimum Monthly Salary | Rs 15,000 |
| Minimum Work Experience | Salaried: 6 Months | Self-Employed: 2 Years |
Document for EMI on Luxury Products
The eligibility for luxury products EMI without a credit card typically requires basic identity and financial proofs that make the loan process smooth and quick. At Hero FinCorp, you will need to hand in documents that verify your income and identity to determine the loan size and tenure.
- Pan Card
- Aadhar Card
Interest Rates & Charges for EMI on Luxury Products
The interest rates and charges for EMI on luxury products vary by lender. It’s important to check processing fees, foreclosure options, and late payment penalties before applying. Key charges to know:
| Charges | Details |
|---|---|
| Interest Rate | Starting at 19% p.a. |
| Loan Processing Charges | Minimum 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST |
| EMI Bounce Charges | Rs 350 |
| Interest on Overdue EMIs | 1–2% of the overdue loan/EMI amount per month |
| Cheque Bounce Charges | Fixed nominal penalty |
| Loan Cancellation | - Online loan application: No cancellation fees - Interest paid: Non-refundable - Processing charges: Non-refundable |
How to Buy Luxury Products on EMI Without a Credit Card?
You can buy premium products on EMI with a personal loan. Approval will be fast based on some basic eligibility criteria and documents. Here’s how to apply:
- 1
Go to Hero FinCorp's website, or download the Hero FinCorp personal loan app.
- 2
Click on "apply now" in the "personal loan" section.
- 3
Enter your mobile number and authenticate using the OTP sent to you.
- 4
Select the loan amount and loan tenure as per your need
- 5
Proceed to KYC verification to ascertain your income eligibility.
- 6
Click on 'Submit' and wait for approval.
What Our Customers Say About Us
❝
When my payment for my destination wedding was due, I turned to Hero FinCorp. Their instant personal loan process was unbelievably fast, with approval and disbursal! No long paperwork, no branch visits, just a few clicks on the app. I loved the flexible EMI option, which let me plan repayments comfortably. The entire journey felt professional and transparent. I got timely updates on every step through SMS and email. This kind of service is exactly what busy working professionals like me need. I’m a happy customer and will definitely use them again when needed.
Ankita Desai, Ahmedabad
★★★★★
❝
As a freelancer, getting credit quickly is not easy. I applied for Rs 5 lakh on their app, completed digital KYC, and received approval within minutes. I love that I could select a repayment plan that matches my irregular income. No branch visits, no stress, the entire process was smooth. The interface is clean, and I could track my disbursal status easily. For anyone who is self-employed and looking for quick funds, this is one of the best options available in the market today!
Priya Iyer, Bengaluru
★★★★★
❝
The instant personal loan is truly instant! No phone calls, no physical paperwork, just a simple, guided process on the app. I took Rs 2 lakh for my higher education fees, and the flexible EMI plan made repayment stress-free. The best part is the option to prepay through the app, helping me save on interest. I’ve already recommended it to my friends and colleagues. Definitely a trustworthy solution for quick and easy financing.
Shweta Bansal, Delhi
★★★★★
❝
I took a personal loan for my sister’s wedding, and the experience was excellent. The approval was instant, and everything was explained clearly, no hidden charges or last-minute surprises. The iOS app is smooth. I will confidently recommend them to anyone needing funds quickly without the stress of traditional bank loans.
Karan Mehta, Pune
★★★★★
❝
When our car broke down unexpectedly, we needed funds quickly. Hero FinCorp’s instant personal loan was the perfect solution. The application process was 100% digital and very easy to follow. I chose a 24-month EMI plan that fits our household budget. The auto-debit feature works perfectly, so we never miss payments. It feels good to know there’s a reliable solution available when emergencies strike. It has made borrowing a completely stress-free experience for us.
Deepika Nair, Kochi
★★★★★
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Frequently Asked Questions
There are plenty of luxury goods you can purchase on EMI through a Personal Loan including designer furniture, premium electronics, luxury watches, jewellery, branded fashion, and high-end appliances.
You must earn a minimum of Rs 15,000 a month to qualify for a Personal Loan at Hero FinCorp.
Yes, you can buy luxury goods online on EMI using a Personal Loan without the need of a credit card.
There is no limit but the loan amount at Hero FinCorp can go up to Rs 5 Lakh. The amount you are actually able to get may depend on many factors including your income, repayment ability, and your profile.
You must earn a minimum of Rs 15,000 to qualify for a Personal Loan at Hero FinCorp.
Most lenders you can trust, like Hero FinCorp, will not hide things from you. However, you should check things like processing fees, interest rates, and late payment-related fees to avoid surprises.
Yes, the repayment periods range from 12 to 36 months with several options for EMIs.
Some lenders do charge a preclosure fee, while others allow you to prepay without fees. Always check before you apply.
Once you've got the loan amount, you can check your loan balance using the loan app or website.