01
Identity proof- Aadhar card/PAN card/Voter ID card/ Driving License
I have read through the Terms of Service for use of Digital Platforms as provided above by HFCL and I provide my express consent and agree to the Terms of Service for use of Digital Platform.
The Hero FinCorp personal loan app qualifies as one of the modern-day flexible digital platforms that enables easy registration and loan disbursal without any physical documentation. It is available on the Google Play Store for free and is compatible with Android phones. So, if you have any consumer durable loan requirements to buy the latest electronics, personal gadgets, etc., Download the app now and begin with the loan application process. It is 100% secured to initiate.
When the trend changes, our personal gadgets, and home appliances need an upgrade. However, it is not always possible to replace the existing ones due to a lack of affordability. This is the prime reason why financial institutions introduced consumer durable loans online for easy availability of the latest consumer durable products to the masses.
Borrowers using the Hero FinCorp personal loan app can avail different types of personal loans starting from INR 50,000 to 5 lakh. A consumer durable loan is also a personal loan that can be easily approved with zero down payment and affordable EMIs.
If you are worried about your monthly EMIs, you can use the EMI calculator available on the app to know the consumer durable loan instalment in advance. You can adjust the EMIs as per your budget. Try different variations of the principal loan amount, tenure, and interest rate to get accurate EMI results in seconds.
Consumer durable loan is available at a low-interest rate which is affordable to pay every month. The interest rate on consumer durable loans 19% to 30% p.a and may vary from one lender to another. Some financial institutions offer consumer durable loans at 0% interest, especially during festival seasons.
Apart from the interest rate, instant consumer durable loans online charge a low processing fee. There are no hidden charges involved besides nominal fees ranging between 1-3 % of the loan amount by most lenders.
The application process for consumer durable loan involves paperless documentation. This takes less time in loan processing and enables speedy approval in 24 hours. Basic documents for consumer durable loan includes:
Identity proof- Aadhar card/PAN card/Voter ID card/ Driving License
Residence Proof- Passport or Bank account statement
ECS(Electronic clearing services) mandate form duly signed and certified by your bank branch or eNACH completely online process
One Passport size photograph
Consumer durable loans are open for both salaried and self-employed individuals. The borrower should be eligible of:
Minimum age limit 21 years and maximum age 58 years
Minimum income Rs.15000 per month
Minimum work experience 1-2 years for salaried and business stability for self-employed, respectively.
If your Aadhar card is linked with your registered Mobile number, the above documents are not mandatory.*
Who doesn’t want to upgrade to the latest model of a branded phone or change the TV screen to a bigger and better one! These luxuries are a part of our lives and we want to own them at a good cost, don’t we? Consumer durable loan online is also a collateral-free facility similar to a personal loan. An instant consumer durable loan can be availed in minutes. So, it is a great idea to use it timely to gift your own people some high-end surprises. Consumer durable loan makes it possible to purchase the latest version of these technology products with the following advantages:
If you have a low credit score, then it is highly recommended that you fix it up before applying for a consumer durable loan. Further, do compare interest rates, processing fees, foreclosure charges, from different financial institutions using their instant loan apps. Evaluate these terms and conditions and select the lender who gives you the best deal