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Consumer Durable Loan
Buy appliances and gadgets easily with a consumer durable loan offering flexible consumer durable finance, appliance loan options, and convenient electronics on EMI.
Approval in 10 Minutes
No Collateral Required
Paperless Documentation
Calculate Personal Loan EMI
Get a Consumer Durable Loan Online
Upgrade your lifestyle with a Consumer Durable Loan is a type of personal loan designed for easy purchases and flexible repayment. Whether you need a new appliance, smartphone, laptop, or other electronics, get financial support without paying the full amount upfront. Apply online with a simple process and access quick approval for your planned purchases.
Hero FinCorp helps you choose convenient EMI options that match your budget and make shopping easier.
Why Choose Hero FinCorp for Your Consumer Durable Loan?
What You Can Buy with a Consumer Durable Loan
Step-by-Step Guide on How to Apply
Hero FinCorp offers a fully digital, paperless application with approval in 10 minutes. Eligible applicants - salaried or self-employed with a minimum monthly income of ₹15,000 - can complete the process in 5 steps:
- 01
Enter basic information to check your eligibility.
- 02
Submit your KYC details digitally.
- 03
Select your preferred repayment option.
- 04
Review and sign your agreement online.
- 05
Get the approved amount after verification.
Eligibility Criteria
To apply for a Consumer Durable Loan online and receive instant approval, applicants must meet the following eligibility requirements. You can also use the Personal Loan eligibility checker on the Hero FinCorp website to verify before applying.
| Criteria | Requirement |
| Age | 21 to 58 years |
| Employment | Salaried (minimum 6 months) or self-employed (minimum 2 years of stable operations) |
| Monthly Income | Minimum ₹15,000 per month |
| CIBIL Score | 725+ preferred for faster approval; lower scores may be considered on a case-by-case basis |
| Residence | Indian citizen or resident |
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App Installs
Pan India
Locations Served
Paperless Documents Required
You need:
- PAN Card (Digital)
- Aadhar Card (Digital)
Self-employed also provide:
- Business proof
- Income documents
Digital consent and Account Aggregator options may help make verification quicker.
Interest Rates, Fees & Charges
Transparency is central to Hero FinCorp’s lending approach. Before applying, review the complete schedule of fees and charges below. Our Personal Loan interest rates are competitive and clearly disclosed, with no hidden costs.
| Fee | Amount |
| Interest Rate | Starting from 18% per annum |
| Processing Fee | Starting from 2.5% of the loan amount + applicable GST |
| Prepayment Charges | Not applicable |
| Foreclosure Charges | 5% of the outstanding principal + applicable GST |
| EMI Bounce Charges | ₹350 per instance |
| Loan Cancellation | No cancellation charges via the loan app; interest and processing fees already paid are non-refundable |
Disclaimer: The above rates are indicative and effective as of the latest Schedule of Charges published by Hero FinCorp. Actual rates may vary based on your credit profile, income, and other factors.
EMI: Tenure-Wise Breakdown
Plan your monthly repayments based on your loan amount, tenure, and applicable interest rate.
| Loan Amount | Tenure (Months) | Interest Rate p.a. | Monthly EMI | Total Interest | Total Amount |
| ₹50,000 | 12 | 18% | ₹4,584 | ₹5,008 | ₹55,008 |
| ₹1,00,000 | 12 | 18% | ₹9,216 | ₹10,588 | ₹1,10,588 |
| ₹2,00,000 | 12 | 18% | ₹18,336 | ₹20,032 | ₹2,20,032 |
| ₹2,00,000 | 24 | 18% | ₹9,985 | ₹39,636 | ₹2,39,636 |
| ₹3,00,000 | 36 | 18% | ₹10,846 | ₹90,446 | ₹3,90,446 |
Disclaimer: The EMI figures above are approximate and calculated using the standard reducing-balance method. Actual EMI may differ based on the interest rate offered to you. Use the Personal Loan EMI Calculator on the website for a precise estimate.
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Frequently Asked Questions
Yes, select lenders offer zero down payment consumer loan options depending on eligibility and credit profile.
Interest rates vary by lender, credit profile, and loan amount. They are usually designed to keep EMIs affordable for everyday purchases.
The amount you can borrow depends on your income, eligibility, credit score, and lender policies.
A consumer durable loan is usually unsecured and does not require collateral for approval.
Your EMI depends on the loan amount, tenure, and interest rate selected at the time of borrowing.
Consumer durable loans work by providing funds for eligible purchases, allowing you to repay the amount through fixed EMIs.
Yes, eligibility depends on income proof and lender guidelines. Alternative documents may be accepted based on your profile.
The minimum CIBIL score depends on lender requirements and your overall credit profile. A good score can support better approval chances.