Pocket-Friendly
A personal loan for a cooler lets you split costs into easy EMIs for stress-free payments.
Buy the Latest Cooler on EMI!
Loan up to ₹5 Lakhs
Minimum Salary Required ₹15K
Instant Approval
Calculate Personal Loan EMI
Buy a Cooler on EMI Without a Credit Card
When summers become unbearable, a good-quality air cooler offers a cost-effective solution to stay cool and beat the heat. Unlike power-guzzling air conditioners, they efficiently cool spaces without too much electricity. Another advantage of purchasing a modern-age cooler is that it looks stylish and requires minimal maintenance.
If you plan to buy a cooler on EMI, finance the purchase with a Personal Loan from Hero FinCorp and divide its cost into manageable installments! The cost of expensive air coolers from brands like Symphony and Shilpa is significantly high. You don't need to pay the price from your savings or use your credit card to purchase your favourite model. Hero FinCorp provides a loan on the cooler to cover the cost of its purchase and installation.
Features and Benefits of Buying Cooler on EMI Without a Credit Card
A Personal Loan from Hero FinCorp lets you buy a cooler on EMI without a credit card. So, if you don't have a credit card or want a lower interest rate option to purchase the cooler, buying a cooler on loan will offer:
Attractive Interest Rate
A loan on a cooler offers lower interest rates than credit cards, especially with a good credit score.
Collateral-Free
You can buy a cooler on EMI with a personal loan, no collateral or guarantor needed.
Flexible Repayment Tenure
Hero FinCorp offers up to 36 months tenure; use an EMI calculator for affordable payments.
Instant Approval
Get instant approval for a loan up to Rs. 5 lakhs through the app for urgent purchases.
No Additional Paperwork
Borrowing a Personal Loan at Hero FinCorp is simple with minimal, 100% digital documentation.
Eligibility Criteria for Cooler on EMI
Have you made up your mind to buy a cooler on EMI? If yes, then you must fulfil a few eligibility conditions to qualify. At Hero FinCorp, you only have to look for:
| Criteria | Requirement |
|---|---|
| Age | 21 to 58 years of age |
| Citizenship | Indian citizenship |
| Work Experience | Six months for salaried; two years for self-employed |
| Monthly Income | Minimum Rs. 15,000 per month |
Documents Required to Buy Cooler on EMI
Regarding documentation, an online Hero FinCorp personal loan for cooler only requires proof of your identity, residence, and income. Moreover, you don't need to visit a branch office to submit the documentation. You can upload scanned copies of the personal loan required documents online through the Hero FinCorp website or loan app and complete the application process without hassle.
Salaried Employee
Proof of Photo Identity
Driving License, Passport, PAN Card, Aadhaar Card
Mandatory Documents
Loan Application Form, Passport Size Photo
Proof of Income
6 Months’ Salary Slips & Bank Statements, Form 16
Job Continuity Proof
Appointment Letter from Current Employer
Proof of Residence
Driving License, Passport, Aadhaar Card, Utility Bill
Additional Documents (Self-Employed Only)
N/A
Self-Employed Individuals
Proof of Photo Identity
Driving License, Passport, PAN Card, Aadhaar Card
Mandatory Documents
Loan Application Form, Passport Size Photo
Proof of Income
Last 6 Months Bank Statements, ITR for Last 2 Years
Job Continuity Proof
N/A
Proof of Residence
Maintenance Bill, Utility Bill, Property Documents, Rent Agreement
Additional Documents (Self-Employed Only)
Copy of Tax Registration, Shop Establishment Proof, Company's Registration Certificate
Interest Rate on Personal Loan to Buy Cooler on EMI
When considering purchasing a cooler through EMI, it's natural to consider the interest rate. Don't worry - it's usually lower than credit card rates. Hero FinCorp's Personal Loan interest rates go up to 19% per annum. Plus, your rate decreases with higher eligibility and credibility, ensuring minimal impact on your cooler's cost when bought through EMI.
How to Apply for a Personal Loan to Buy a Cooler on EMI?
If you wish to borrow a personal loan for cooler online from Hero FinCorp, these are the simple steps to apply:
- 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
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Frequently Asked Questions
Some advantages of buying on EMI include the following:
- No need to make an upfront payment
- Distribute the cost into easy EMIs
- Increased budget to access a costlier model
- Savings kept intact
No, it is not important to have a credit card to buy on EMI. In fact, if you choose to use a credit card for EMI, you will have to pay high-interest rates that might defeat the purpose of taking an EMI in the first place.
Borrow a personal loan from Hero FinCorp, purchase the cooler with the loan amount, and repay the NBFC with easy installments.
If you miss an EMI payment, you will receive a reminder for payment and pay late payment charges for the due period. Ignoring the reminders will lead to legal complications and collection procedures.