Download AppWin Assured Cashback
Paisabazaar Logo - Compare loans and credit cards

Consumer Durable Loan

If you're planning to buy a high-value electronic gadget or household appliance but don’t want to dip into your savings or strain your monthly budget, applying for a consumer durable loan can be a smart choice. It’s a type of personal loan that allows you to convert big-ticket purchases into easy EMIs, often with minimal or zero interest.
icon
Get Cashback of 1,000* on Loan Disbursal
Valid till 31st May '26 *T&C Apply
Instant Personal Loan

Get up to ₹50 Lakhs starting at 9.98%

4.5/5

15.6L Reviews

5.7cr+Satisfied Customers
65+Lending Partners
₹65k Cr+Loans Disbursed
Icon image of Wide Choice

Wide Choice

Curated offers from 30+ lenders

Icon image of Quick Disbursal

Quick Disbursal

Money in your account instantly

Icon image of SmartMatch

SmartMatch

Offers ranked according to eligibility

Icon image of Digital Process

Digital Process

Hassle-free & paperless

Select Your Bank

50K50L
8%30%
1Y 10Y

Your Monthly EMI Payment

0

Principal Amount0
Interest Amount0
Total Amount0

Find Best Personal Loan Offers

Sort by:

HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Why Choose Paisabazaar?
image of Compare & Choose the <strong>Best Offer</strong>

Compare & Choose the Best Offer

image of Pre-approved Offers with <strong>Instant Disbursals</strong>

Pre-approved Offers with Instant Disbursals

image of Know Your <strong>Chances of Approval</strong>

Know Your Chances of Approval

image of End-to-End <strong>Digital Process</strong>

End-to-End Digital Process

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

What is a Consumer Durable Loan?

A Consumer Durable Loan is a type of personal loan that helps you finance the purchase of electronic gadgets and household appliances such as smartphones, televisions, PlayStations, laptops, cameras, washing machines, modular kitchens, and more. These loans typically cover amounts ranging from Rs. 5,000 to Rs. 25 lakh (even more in some cases), making them ideal for both small and big-ticket purchases. The repayment tenure can be as short as a few months or extend up to 6 years or even more, depending on the lender’s terms and your repayment capacity. It’s a smart way to afford high-value items without putting pressure on your pocket.

Consumer Durable Loan Interest Rates

Interest rates for consumer durable loans usually start from 10% p.a. and can go up to 25–30% p.a., depending on various factors including the cost of the product (loan amount) and various aspects of your credit profile such as your credit score, income, employment type, etc.

Key Features of Consumer Durable Loans

Here are some key features of a consumer durable loan:

  • Interest Rate: Usually starts from 10% p.a.
  • Loan Amount: Rs. 5,000 - Rs. 25 lakh
  • Loan-to-Value (LTV Ratio): Usually up to 100% financing
  • No Cost EMI: Available with select lenders
  • Tenure: Up to 6 years (72 months)
  • Loan Type: Both secured and unsecured options are available
  • Documentation: Minimal
  • Processing Time: Quick disbursals

Consumer Durable Loan Options Offered by Various Banks

HDFC Bank - HDFC EASYEMI on Consumer Loans

Minimum Loan Amount Rs. 10,000 (under HDFC EASYEMI on Consumer Loans facility)
Maximum Loan Amount Under HDFC EASYEMI on Consumer Loans facility:

Consumer Durables: Rs. 5 Lakh
Lifestyle Products: Rs. 15 Lakh

Loan-to-Value (LTV) Ratio 100% financing
No-cost EMI facility Available under HDFC EASYEMI on Consumer Loans facility
Tenure 6 months – 4 years (for HDFC EASYEMI on Consumer Loans facility)
Part-prepayment/ Foreclosure Charges Under HDFC EASYEMI on Consumer Loans facility:

Partial prepayment: Not allowed
Foreclosure charges: 3% of the balance principal outstanding + applicable taxes

ICICI Bank - ICICI Bank Consumer EMI

Interest Rate 9.95% – 28.64% p.a.
Loan-to-Value (LTV) Ratio 100% financing
Prepayment/Foreclosure Charges 5% of outstanding loan amount + applicable taxes

Kotak Mahindra Bank - Consumer Durable Loan

Loan Amount Up to Rs. 15 Lakh under Kotak Smart EMI facility
Loan-to-Value (LTV) Ratio Under Kotak Smart EMI facility: 100% financing or up to 30% of the product price as down-payment

Under Kotak InstaCRED facility: 100% financing

No-cost EMI facility Available under Kotak Smart EMI facility
Tenure 3 months – 1 year (under Kotak Smart EMI facility)
3 – 18 months (under Kotak InstaCRED facility)
Part-prepayment/ Foreclosure Charges Partial prepayment: Not allowed
Foreclosure charges: 4% of outstanding loan amount + applicable taxes (mandatory to pay first 3 EMIs)

IndusInd Bank - Consumer Durable Finance

Interest Rate 22.15% – 22.25% p.a.
Loan Amount Up to Rs. 20,000
Loan-to-Value (LTV) Ratio As applicable to the product
Tenure 6 months – 1 year

Avail Personal Loan for
All Your Needs

Avail Personal Loan Banner

Avail Personal Loan for
All Your Needs

Eligibility Criteria of Consumer Durable Loans

The eligibility criteria of consumer durable loans can vary across lenders due to their varying credit risk policies. It can also differ on the basis of the loan variant, product being purchased and the applicant’s occupation profile.

Here are some of the consumer loan eligibility criteria used by most lenders:

Age 18 – 75 years
Employment Type Salaried individuals and self-employed professionals/ non-professionals; some lenders extend such loans even to pensioners
Minimum Salary Rs. 15,000 to Rs. 75,000 per month, depending on lenders
Minimum Annual Income
(for self-employed applicants)
Rs. 60,000 to Rs. 3 lakh p.a., depending on lenders
Employment Stability At least 1-2 years; some lenders may require longer experience
Business Continuity
(for self-employed applicants)
1-3 years; some lenders may require longer period of business continuity

Documents Required to Avail Consumer Durable Loans

If you're a pre-approved customer, you might not need to submit anything. Others will typically need to furnish these documents:

  • PAN Card
  • Aadhaar Card
  • Proof of Identity
  • Proof of Address
  • Proof of Income

Benefits of Consumer Loans

Here are the key benefits of availing Consumer Durable Loans, listed in simple pointers:

  • No Cost EMI Options: Many retailers offer 0% interest EMI plans—pay only the product price, no added interest.
  • Quick & Easy Approval: Get loan approval in minutes at partner stores or online platforms.
  • Minimal Documentation: Just your KYC documents are usually enough.
  • Flexible Tenure: Repayment period can go up to 6 years (higher in some cases), choose wisely.
  • Zero/ Low Processing Fees: Many offers come with zero or minimal processing charges.
  • Improves Credit Score: Timely EMI payments help build a strong credit history and improve your credit score.
  • Wide Range of Products Covered: Use it for TVs, ACs, smartphones, laptops, refrigerators, washing machines and more.
  • Budget-Friendly: Helps you manage big-ticket purchases in easy EMIs without disturbing your monthly finances or dipping into savings.

Consumer Durable Loan vs. Credit Card – A Quick Comparison

Factors Consumer Durable Loan Credit Card
Loan Amount Depends on applicant’s income, repayment capacity, LTV ratio, etc. Limited to the credit limit
LTV Ratio Up to 100% (usually) Not applicable
Interest Rate 0% to low interest (No Cost EMI Option) Usually higher (but offers available)
Maximum Tenure 6 years or even higher in some cases 3 years or even higher (in case of EMI conversion)
Security May require hypothecation Not required
Documentation Basic KYC may be needed No documents required, instant approval
Processing Time Quick approvals Instant purchase
Rewards/Cashback Not usually offered Some cards offer cashback/reward points
Where Can You Use Limited to partner stores & products Widely accepted online/offline globally
Ideal for Big-ticket planned purchases and lower EMIs Instant purchases and for those looking for convenience and opportunities to earn rewards

If you’re planning a big-ticket purchase and want to keep your budget intact with low or no-cost EMIs, a Consumer Durable Loan might be the smarter choice. But if you need flexibility, rewards and instant processing, using a credit card might be more convenient. Do a detailed cost-benefit analysis before making the choice. Consider all costs involved in availing the consumer durable loan before making the final decision.

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

Avail Personal Loan for
All Your Needs

Avail Personal Loan Banner

Avail Personal Loan for
All Your Needs

FAQs

What is the maximum amount I can borrow with a consumer loan?

You can borrow up to Rs. 25 lakh or even higher, depending on the product being purchased, tenure, various aspects of the applicant’s credit profile (such as the income, repayment capacity) and also the lender’s internal risk policies.

Can I prepay my consumer durable loan? Are there any charges?

Yes, most lenders allow prepayment. However, prepayment/foreclosure charges (usually 3–5% of the outstanding amount) may apply. Check with your lender for specific terms.

What is the typical processing time for a consumer durable loan?

Approval can be instant at partner stores and online portals, especially for pre-approved applicants. Otherwise, it typically takes a few hours to 1–2 working days.

Is it possible to get a consumer durable loan with a low credit score?

Yes, some lenders may approve loans for applicants with lower credit scores, but the interest rates may be higher, and you may need to meet stricter eligibility norms.

What happens if I miss an EMI payment on my consumer durable loan?

Missing an EMI can result in late payment charges, drop in your credit score and collection calls or recovery actions if defaults continue.

quotes icon

What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

icon image of avatar
Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

icon image of avatar
Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

icon image of avatar
Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

icon image of avatar
DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

icon image of avatar
BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

icon image of avatar
Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

icon image of avatar
Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

icon image of avatar
Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

icon image of avatar
Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

icon image of avatar
Anuradha GuptaJan 21, 2026
View All Testimonials
Vandana Punj profile
Written ByLinkedIn icon
Vandana Punj
Shamik Ghosh profile
Reviewed ByLinkedIn icon
Shamik Ghosh

Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners

*Applicable for selected customers

Knapsack with coins

Check Best Personal Loan Offers
with Quick Disbursal

Scroll to top