What is a Consumer Durable Loan?

A consumer durable loan is a financing option made available to the consumer to purchase items such as Mobile Phones, Cameras, Tablet, DSLR, Audio Devices,Household Products such as Fridges, Washing Machine, Microwave, Kitchen Appliances,Laptop, Projector, etc Consumer Durable Loan helps to purchase the items in easy EMI option.

What are some of the products covered by Consumer Durable Loans?

We offer Consumer Durable Loans for wide-range of products. Here are some of the products that are now within your reach - Digital Products: Mobile phones, laptops, tablets, smart watches etc.Health Products: Laser treatment, financing knee replacement, cosmetic surgery and more.Lifestyle Products: Travel loan, Merchandise loan.

Why should I take a Consumer Durable Loan from Tata Capital?

With Tata Capital Consumer Durable Loans, the life you always wanted is just a few clicks away. Upgrade your lifestyle with the giant television set or, you can also buy yourself a fancy furniture for your living room. Here are some more reasons why we are the right match for you -We give you instant online approvalWe don't ask for any security for the Consumer Durable LoanWe are completely digital with minimum paperworkWe let you decide how and when you want to repay the loanWe offer you competitive interest ratesWe offer loans up to ₹ 5 lakhs.

What are the available mode of repayment?

Auto Debit /ECS Facility- You can repay your loan through ECS or Auto Debit from your bank account. All you have to do is fill up a form and allow us to activate the bank mandate.PDC Facility- You can also provide us with post-dated cheques **** towards the repayment. However, you may be charged a small fee for the same. **** Cheque should be MICR or local clearing.In case you wish to swap the cheques or bank mandate from which the repayment will be done, then you or your representative (with an authority letter) would have to visit the branch. Swapping charges would be applicable.

What are the document proofs required for Consumer Durable Loan?

The documents required for availing a Consumer Durable Loan from Tata Capital are – PAN cardAn address proof such as your driving license, voter ID, passport, or NREGA cardA duly signed NACH mandateA cancelled cheque, if applicableEMI cheques as applicable

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Consumer Durable Loan Document Required

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With Tata Capital’s consumer durable loan, you can upgrade your lifestyle without denting your savings. You can bring home your favorite electronic appliance, smartphone, laptop, camera, and many other products by paying for them in Equated Monthly Instalments or EMIs.

What are the Documents Required for a Consumer Durable Loan?

To avail of a consumer durable loan from us, you’re required to complete a simple documentation process. Below is the detailed description of the consumer durable loan documents accepted by us:

Photo ID Proof

You’re required to submit a copy of your photo identity proof issued by the Government. These may include your PAN Card, Aadhaar Card, Voter ID Card, Driving License, or Passport.

Address Proof

You will also need to attach a copy of your address proof, which can be your Ration Card, Utility Bill, Passport, Voter ID Card, or Aadhaar Card.

Income Proof

Income proof is required to validate your income for a consumer durable loan eligibility check.

Salaried Individual, you can submit a copy of your bank statements for the last six months or your salary slips for the last three months.
Self-Employed, you can submit your latest bank statements and Income Tax Returns for the past two years as your proof of income.

Passport-size Photograph

You’re also required to submit a recent passport-sized photograph of yours to validate your identity.

A Canceled Cheque

A canceled cheque of your salary account (for salaried individuals) or current account (for self-employed individuals) is required for IMPS validation.

ECS Mandate

You’re required to submit a duly-signed ECS mandate for the deduction of your consumer durable loan EMIs directly from your bank account.

A Non-dated cheque

You’re required to submit a non-dated cheque for the entire loan amount drawn in favor of “TCFSL” for security purposes.

Please note that the documents for consumer durable loans may vary from case to case based on the borrower’s profile. Apart from the consumer durable loan documents mentioned above, we may ask for some additional documents at the time of loan processing. You can get in touch with our customer care executive for exact details.

How to Submit the Documents Required for a Consumer Durable Loan?

With Tata Capital’s consumer durable loan, you can get a smartphone, laptop, camera, air conditioner, television, refrigerator, washing machine, or a gamut of home appliances with easy EMI. All that you need to do is fulfill our consumer durable loan eligibility and submit the required documents.

You can submit your consumer durable loan documents to us in any of the following ways:

Visit Our Branch

You can also visit your nearest Tata Capital branch to submit the documents required for a consumer durable loan. Our loan executives at the branch will guide you through the entire loan application and documentation process.

Locate a Branch

Get Doorstep Services

We can also arrange for the doorstep pickup of your consumer durable loan documents. All you have to do is call our customer helpline number at 1860 267 6060 between 9 AM and 8 PM on all working days and ask for the doorstep services.

How to Submit the Documents Required for a Consumer Durable Loan?

You can submit your consumer durable loan documents to us in any of the following ways:

Upload Them Online

The simplest way to submit your consumer durable loan documents to us is by uploading them on our website. You can start by applying for a consumer durable loan on our online portal and then upload the required documents when asked.

Popular FAQs

A consumer durable loan is a financing option made available to the consumer to purchase items such as

Mobile Phones, Cameras, Tablet, DSLR, Audio Devices,
Household Products such as Fridges, Washing Machine, Microwave, Kitchen Appliances,
Laptop, Projector, etc

Consumer Durable Loan helps to purchase the items in easy EMI option.

We offer Consumer Durable Loans for wide-range of products. Here are some of the products that are now within your reach -

Digital Products: Mobile phones, laptops, tablets, smart watches etc.
Health Products: Laser treatment, financing knee replacement, cosmetic surgery and more.
Lifestyle Products: Travel loan, Merchandise loan.

There are no penalty charges for foreclosure of the Consumer Durable loan account.

We offer consumer durable loans up to ₹ 5,00,000.

Salaried and self-employed individuals in the age group of 21 to 60 & 21 to 65 years respectively can apply for the consumer durable loan. 

With Tata Capital Consumer Durable Loans, the life you always wanted is just a few clicks away. Upgrade your lifestyle with the giant television set or, you can also buy yourself a fancy furniture for your living room. Here are some more reasons why we are the right match for you -

We give you instant online approval
We don't ask for any security for the Consumer Durable Loan
We are completely digital with minimum paperwork
We let you decide how and when you want to repay the loan
We offer you competitive interest rates
We offer loans up to ₹ 5 lakhs.

We need your primary and KYC documentation -

Identity and Residential Proof
Cancelled cheque
Latest passport size photograph
ECS mandate duly signed
One security cheque (favouring TCFSL, mention the full loan amount, do not enter any date).

Your EMI depends on the loan amount and the defined tenure. 

You can take up to 24 months to repay your Consumer Durable Loan.

Auto Debit /ECS Facility-
You can repay your loan through ECS or Auto Debit from your bank account. All you have to do is fill up a form and allow us to activate the bank mandate.
PDC Facility-
You can also provide us with post-dated cheques **** towards the repayment. However, you may be charged a small fee for the same.

**** Cheque should be MICR or local clearing.

In case you wish to swap the cheques or bank mandate from which the repayment will be done, then you or your representative (with an authority letter) would have to visit the branch. Swapping charges would be applicable.

We offer flexible EMI plans to make your repayment easy  and convenient.

Consumer durable loans are essentially unsecured borrowings. As a result, the lender does not have the security of a collateral to rely on. This is why your credit history plays a key role in determining your eligibility for a consumer durable loan. Lenders tend to look into your borrowing history and your credit profile to verify if you’re a trustworthy borrower. The higher your CIBIL score, the better is your eligibility for consumer durable loan

Consumer durable loans are unsecured loans. As a result, you do not need to provide any collateral as a security. This also means that there’s no mortgaging involved in the process of applying for a consumer durable loan.

The documents required for availing a Consumer Durable Loan from Tata Capital are –

PAN card
An address proof such as your driving license, voter ID, passport, or NREGA card
A duly signed NACH mandate
A cancelled cheque, if applicable
EMI cheques as applicable

If you do not repay your EMIs within the due date, a penalty charge shall be levied on the unpaid amount outstanding at the end of each month. This charge is levied at the rate of 3% of the outstanding amount.

Often times, if there’s an unexpected inflow of cash like a bonus, you may choose to repay your outstanding dues and foreclose the consumer durable loan you’ve availed from Tata Capital. We do not levy any foreclosure charges, so you can go ahead and settle your dues without worrying about any additional charges.

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