Pocket-Friendly
Enjoy pocket-friendly EMIs for a sofa set, making a costly purchase budget-friendly without draining savings.
Buy the Latest Sofa Set on EMI!
Loan up to ₹5 Lakhs
Minimum Salary Required ₹15K
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Buy a Sofa Set on EMI without a Credit Card
The sofa set is the focal point of your living area, where you arrange the rest of the home furnishings. A good sofa set is a comfortable space to unwind and relax after a long day. It also offers an inviting space for interacting with friends and family. However, these furniture pieces can be expensive, and your savings might not be enough to cover the cost of your favourite piece. That is where buying a sofa set on EMI kicks in.
A Personal Loan is an unsecured loan at attractive interest rates. It is easy to apply for, attracts quick approval, and is convenient to repay. Read on to learn more about a personal loan for sofa set online.
Why Should You Buy a Sofa Set on EMI?
While many individuals may use their credit cards to finance and pay purchases through card bills, a Personal Loan from Hero FinCorp up to Rs. 5 Lakh is a much better funding option. It distributes the cost into easy monthly instalments, allowing you to buy a costlier sofa set on EMI without a credit card. Consequently, you don't need to save money for a long time to buy your favourite furniture. Moreover, you can keep your savings intact for emergencies or investments.
Features and Benefits of Buying Sofa Set on EMI Without Credit Card
Buying a sofa set on loan without a credit card offers multi-faceted benefits, including the following:
Attractive Interest Rate
Hero FinCorp offers low-interest EMI on sofas with a high credit rating and low DTI/CUR.
Collateral-Free
Hero FinCorp Personal Loans are collateral-free, allowing you to buy a sofa set on EMI safely.
Flexible Repayment Tenure
Hero FinCorp offers flexible 36-month repayment tenures with easy EMIs. Use an EMI calculator for better planning.
Instant Approval
Need a sofa set? Get instant approval on a Personal Loan and seize the opportunity quickly.
No Additional Paperwork
Hero FinCorp offers a 100% digital documentation process for easy loan applications via website or app.
Eligibility Criteria for Sofa Set on EMI
Since the sofa set is a cosy spot to nap, read, or just take a break, investing in a high-quality sofa set is of the essence. If you plan to buy a sofa set on EMI using a Personal Loan from Hero FinCorp, ensure you fulfil the following eligibility criteria for a personal loan:
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 Sofa Set on EMI
When applying for a loan on a sofa set at Hero FinCorp, you must be worried about what documents you must provide and how. Thanks to the NBFC's 100% digital procedure, you don't need to visit a branch office even once. You can complete the job by uploading scanned copies of your identity, income, and residence proof through the website or app.
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 Sofa Set on EMI
The interest rate to buy a sofa set on EMI is 30% at Hero FinCorp. This is a reasonable rate to avail of the Personal Loan service and distribute the sofa set’s cost into EMIs. Improving the credit score, reducing the DTI ratio, and showing high repayment capacity are effective ways to borrow a personal loan for a sofa set online at the lowest interest rates possible.
How to Apply for a Personal Loan to Buy a Sofa Set on EMI?
Have you finalised buying a sofa set on EMI using a Personal Loan from Hero FinCorp? You can apply online or via the Hero FinCorp Personal Loan App on your mobile phone.
Follow these steps to apply for a personal loan for sofa set 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
Purchasing a sofa set on EMI using a Personal Loan attracts interest charges. At Hero FinCorp, it may go up to 25%, depending on your credit history, DTI ratio, repayment capacity, and other crucial factors.
You must provide proof of income, identity, and address to prove your eligibility and obtain a loan on a sofa set.
Missing an EMI payment attracts penal charges, reduces your credit score, compromises your future loan eligibility, and leads to legal consequences. Therefore, use an EMI calculator to choose an EMI plan you can easily repay monthly.
If you buy a sofa set on EMI using a Personal Loan, Hero FinCorp does not impose any end-use restrictions on the fund usage. You can buy a sofa set according to your choice or keep the funds in your account until you find the best deal. Therefore, there are no minimum purchase restrictions for EMI.