Consumer Durable Loan

Borrower’s CIBIL score reflecting a higher creditworthiness and stable financial history is eligible for a consumer durable loan. CIBIL score is verified to check the financial behaviour of the borrower and accordingly, the loan approval is decided.

You can get a consumer durable loan in two ways. First, you can visit the store personally, buy a gadget/appliance and seek a consumer loan on the same. Second, you can download an instant loan app and avail a personal loan online to buy consumer durable products.

You can avail of a consumer durable loan online or in-person by visiting the concerned store in your area. Compare the product pricing online and decide the better mode of consumer durable loan availability to buy your luxury gadget.

A consumer durable loan is a personal loan and so it is categorised as an unsecured loan. Being a short-term loan, it is approved instantly without the need of any assets or guarantor against the loan.

You can get a consumer durable loan easily through the online mode of instant personal loan apps or through store purchases in your location.

A consumer loan works on the basis of a minimum eligibility criteria that involves KYC verification and income check of the borrower. Consumer loans work instantly after the verification of documents and you can take the product home the very same day.

Consumer durable loans bring dreams to the reality of owning an expensive gadget that might be difficult to purchase otherwise. Some key benefits of consumer durable loan are:

- Depending on the lenders, the interest rate on consumer loan varies from 0% interest to a low rate of interest

- Shorter loan tenure that ends the loan burden between 6 – 24 months

- Loan approved with minimum documents

- Instant approval and product in hand at the same moment

Debt consolidation is combining all the pending debts and paying off through one single loan. Months of credit card bill pending can be combined into a debt consolidation loan for easy repayment.

The basic requisites for a debt consolidation loan approval requires proof of income, credit history and financial stability.

Debt consolidation is an unsecured personal loan that does not demand a collateral or a security for approval. This speeds up the time taken for loan sanction.

Non-Banking Financial Companies (NBFCs) can be trusted for debt consolidation loans as these are authorized lending organizations approved by the government.

The pre-payment charges differ depending upon the chosen lending organization. The foreclosure charges vary based on individual terms.