Pocket-Friendly
With Hero FinCorp's Rs. 5 Lakh personal loan, you can buy a refrigerator on EMI within your budget.
Buy the Latest Refrigerator on EMI!
Loan up to ₹5 Lakhs
Minimum Salary Required ₹15K
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Buy a Refrigerator on EMI without a Credit Card
The primary objective of a refrigerator is to keep things cold and fresh for longer. However, the appliance must work optimally to avoid food spoilage. You must also replace it every few years to get the latest equipment. However, many people avoid this due to a lack of finance. That is when a personal loan for a refrigerator comes into play.
Hero FinCorp offers Personal Loans of up to Rs. 5 Lakh without end-use restrictions. You can use the loan amount to fulfil your aspirations, handle emergencies, achieve goals, or make big-ticket expenses like a refrigerator purchase. Please continue reading to learn how a Personal Loan allows you to buy a refrigerator on EMI and why it is the best funding option.
Why Should You Buy a Refrigerator on EMI?
There are many compelling reasons why you should consider buying a refrigerator on EMI rather than paying its price from savings or using a credit card. Here are a few of them:
- The Personal Loan interest rates are much lower than those of credit cards.
- You can invest your savings elsewhere to grow your wealth instead of spending it on a refrigerator.
- The purchase does become a financial burden, as the EMI repayment remains comfortable on your budget.
- Consider purchasing a better refrigerator model with the loan amount in your account.
- Instant approval lets you grab a discount deal as and when it is available.
Features and Benefits of Buying Refrigerator on EMI Without Credit Card
Here are a few benefits of buying a refrigerator on EMI without a credit card:
Attractive Interest Rate
Hero FinCorp offers personal loans with interest rates up to 30%, lower with good credit scores.
Collateral-Free
Buy a refrigerator on EMI with Hero FinCorp's unsecured loans, no collateral or guarantor required.
Flexible Repayment Tenure
Hero FinCorp offers flexible personal loan repayment up to 36 months with budget-friendly EMI options.
Instant Approval
Apply for a personal loan to buy a refrigerator online, with instant approval and quick disbursement.
No Additional Paperwork
Hero FinCorp Personal Loans require only basic documents (identity, address, income) with a zero-paperwork process.
Eligibility Criteria for Refrigerator on EMI
Please verify the eligibility criteria for a personal loan for a refrigerator online. Simple eligibility conditions make Hero FinCorp Personal Loans easily accessible to all. These include the following:
Age
21 to 58 years of age
Citizenship
Indian citizenship
Work Experience
Six months for salaried; two years for self-employed
Monthly Salary
Minimum Rs. 15,000 per month
Documents Required to Buy Refrigerator on EMI
Hero FinCorp has a seamless Personal Loan procedure with minimal documentation requirements. The documentation includes your proof of identity, proof of address, and proof of income, depending on whether you are a salaried or a self-employed applicant. Be sure to check the necessary personal loan documents before starting the application process.
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 Refrigerator on EMI
At Hero FinCorp, your Personal Loan interest rate can be 30% at most. That means the refrigerator’s cost does not increase excessively when you convert its payment into EMIs. Maintain a high credit score, reduce your debt-to-income and credit utilisation ratio, and show all income sources to get the lowest interest rate on a personal loan for refrigerator at Hero FinCorp.
How to Apply for a Personal Loan to Buy a Refrigerator on EMI?
Have you decided to buy a refrigerator on EMI using a Personal Loan from Hero FinCorp? You can apply online or via the Hero FinCorp Personal Loan App on your mobile device.
Follow these steps to apply online:
- 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
Hero FinCorp offers a repayment tenure of up to 36 months. If your budget allows, you can prepay your EMI or pay off the remaining amount before the term ends. However, the prepayment is permitted only after 12 months of the loan sanction, and prepayment charges will apply.
An interest rate of up to 30% is applicable when you buy a refrigerator on EMI using a Personal Loan. The better your eligibility and repayment capacity, the lower the interest rate you can obtain.
To qualify for a Personal Loan at Hero FinCorp, you must be a salaried or self-employed Indian citizen between 21 and 58 with sufficient work experience in your current job or field.
You can buy a refrigerator on EMI using a credit card, but the interest rate is too high. A Personal Loan to distribute the appliance's cost into EMIs is a much better option with a lower interest rate and flexible repayment terms.