Know more about Consumer Durable Loans
8th May 2020 1:22
In this era of digital technological prevalence, laptops have become indispensable for working professionals, self-employed individuals, and even students. However, if you’re planning to buy the latest laptop with top-notch features, you may have to shell out a handsome amount of money.
If you don’t want a dent in your savings, you can avail of Tata Capital’s consumer durable loan and buy laptop on EMI. We provide an easy loan on laptops for salaried as well as self-employed individuals. We also offer a laptop on EMI for students with simple eligibility criteria and minimal paperwork. You can simply apply for our QIK EMI Card and purchase your favorite laptops on EMI without any hassles.
Let’s look at some of the benefits of laptop purchase on EMI through our loan on laptops:
We ask only for some basic eligibility requirements for providing a new laptop on EMI for students, working professionals, and self-employed individuals. Below are the eligibility criteria you need to fulfill to get a loan for laptops from Tata Capital:
Your age should be between 21 years to 65 years
You need to be a salaried employee or a self-employed individual
You can get a maximum loan for laptops of up to Rs. 1.5 lakhs
Your tenure for laptops on EMI can range between 6 months and 24 months
Please note that your final eligibility for buying laptops on EMI is at the sole discretion of Tata Capital. You can get in touch with our customer care executive for more details.
You can buy laptop on EMI with Tata Capital by submitting only a handful of documents. Below is the list of documents we require for providing a loan on laptops:
You can simply buy laptop online on EMI from the convenience of your home. Our loan for laptops is available online and offline with a simple application process. Below are the steps you need to follow to get a new laptop on EMI:
Decide on the laptop you want to purchase on EMI. With Tata Capital, you can even buy a high-end gaming laptop on EMI without any hassles
Visit the Tata Neu and Croma website or any of our authorized retail stores across India and shop for the selected laptop
Use your QIK EMI Card to pay for the laptop, and we will convert your transaction into easy EMIs
The EMI payments for your laptop would be made through the signed repayment mandate on your EMI card
You can also check for your exclusive pre-approved offers before making the purchase. To know your pre-approved offer, visit our website or call us at 1860 267 6060 anytime between 9 AM and 8 PM on all working days.
With easy financing alternatives, bring your desired electronic devices and appliances. Zindagi aur aasan banaye, with the latest technology. Indulge in a modern living without compromising with Tata Capital 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.
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
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.
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 –
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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