Personal Loan EMI Calculator
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.
You must consider buying home appliances on EMI for many reasons. Most importantly, it is a way to pay for your required appliances in parts instead of making a single payment in a lump sum. You can buy costly items right off the shelves, even though your savings are not enough for the purchase at the moment. Moreover, a Personal Loan helps you buy anything you want without any end-use restrictions and divides the total cost into monthly installments. Since you are free to choose a repayment plan according to your budget, the EMIs do not burn holes in your pocket.
Let’s look into the benefits of purchasing home appliances on loan without a credit card:
A personal loan lets you buy anything and repay in manageable monthly EMIs without budget worries.
Hero FinCorp’s low-interest rates keep EMIs affordable, allowing easy management and freeing up funds for other uses.
The Personal Loans are collateral-free, and there is no involvement of collateral, security, or guarantor required for approval.
Hero FinCorp offers flexible EMI schemes, letting you customize payments based on your income and finances.
During sales events, you can quickly apply for a personal loan for home appliances online and secure instant approval.
The entire process is digital; simply upload scanned documents online and get approval in minutes.
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:
21 to 58 years of age
Indian citizenship
Six months for salaried; two years for self-employed
Minimum Rs. 15,000 per month
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.
Driving License, Passport, PAN Card, Aadhaar Card
Loan Application Form, Passport Size Photo
6 Months’ Salary Slips & Bank Statements, Form 16
Appointment Letter from Current Employer
Driving License, Passport, Aadhaar Card, Utility Bill
N/A
Driving License, Passport, PAN Card, Aadhaar Card
Loan Application Form, Passport Size Photo
Last 6 Months Bank Statements, ITR for Last 2 Years
N/A
Maintenance Bill, Utility Bill, Property Documents, Rent Agreement
Copy of Tax Registration, Shop Establishment Proof, Company's Registration Certificate
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.
Follow this stepwise procedure to apply for a Personal Loan to buy home appliances on EMI:
Visit the Hero FinCorp website or install the Personal Loan app
Go to the Personal Loan page and click ‘Apply Now’
Enter your mobile number and verify with the OTP received
Choose the loan amount you need
Verify your KYC details to check income eligibility
Click ‘Submit’ to complete your application
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.