Pocket-Friendly
A personal loan lets you buy anything and repay in manageable monthly EMIs without budget worries.
Buy the Latest Home Appliances on EMI
Loan up to ₹5 Lakhs
Minimum Salary Required ₹15K
Instant Approval
Personal Loan EMI Calculator
Buy a Home Appliances on EMI without a Credit Card
Home appliances are every household's necessity. Homeowners wish to keep their houses updated with the latest, feature-rich appliances. However, buying several home appliances at a time can be costly, making a big dent in an individual's budget. That is when a Personal Loan from Hero FinCorp comes to the rescue. These are unsecured loans that allow you to buy home appliances on EMI at attractive interest rates not exceeding 30%. You can borrow a personal loan for home appliances online of up to ₹5 Lakh without any end-use restrictions.
Read on to learn more about these loans and how to buy home appliances on EMI without a credit card.
Features and Benefits of Buying Home Appliances on EMI Without Credit Card
Let’s look into the benefits of purchasing home appliances on loan without a credit card:
Attractive Interest Rate
Hero FinCorp’s low-interest rates keep EMIs affordable, allowing easy management and freeing up funds for other uses.
Collateral-Free
The Personal Loans are collateral-free, and there is no involvement of collateral, security, or guarantor required for approval.
Flexible Repayment Tenure
Hero FinCorp offers flexible EMI schemes, letting you customize payments based on your income and finances.
Instant Approval
During sales events, you can quickly apply for a personal loan for home appliances online and secure instant approval.
No Additional Paperwork
The entire process is digital; simply upload scanned documents online and get approval in minutes.
Eligibility Criteria for Home Appliances on EMI
Looking at the eligibility criteria for personal loan for home appliances online is essential to avoid rejection and increase the chances of quick approval. The eligibility conditions include the following at Hero FinCorp:
| 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 Home Appliances on EMI
Hero FinCorp offers a hassle-free loan borrowing experience with minimal documentation requirements for personal loan. KYC-compliant applicants can obtain a loan without any documentation. The documentation process is simple, quick, and 100% digital for everyone. Submitting the necessary documents online ensures a fast application, instant verification, and quick approval and disbursal of funds. These simply include your identity, address, and income proof, such as an Aadhaar card, PAN card, bank statements, utility bills, salary slips, etc.
Documents required for Salaried
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
Documents required for Self Employed
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 Home Appliances on EMI
You must pay an interest rate on Personal Loan to buy home appliances on EMI. However, the interest rate at Hero FinCorp is at most 30%, which means the cost of appliances does not increase significantly. The small loan cost you pay is worth the benefits you enjoy buy borrowing a loan on home appliances.
How to Apply for a Personal Loan to Buy a Home Appliances on EMI?
Follow this stepwise procedure to apply for a Personal Loan to buy home appliances on EMI:
- 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
At Hero FinCorp, you can choose a repayment tenure of up to 36 months, according to your preference. Use a personal loan EMI calculator to calculate EMIs for various loan terms, and opt for an EMI tenure with budget-friendly EMIs suitable to your budget.
When applying for a loan on home appliances, be ready to pay some additional charges, including processing fees, stamp duty charges, overdue EMI interest, EMI bounce charges, swap charges, foreclosure charges, etc. Read the loan document carefully to understand these charges before applying for a personal loan for home appliances online.
Penal interest, EMI bounce charges, and late payment penalties are the immediate financial consequences. Missing EMI payments also reduces your credit score, hurting your eligibility for future loans. Non-payment, even after reminders, leads to legal consequences and collection procedures.
Yes, you can cancel the EMI scheme after availing it within a few days. In the case of a Personal Loan, you can restructure or transfer the loan to reschedule the EMI scheme.