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 documents required for a Consumer Durable Loan?

We need your primary and KYC documentation - Identity and Residential ProofCancelled chequeLatest passport size photographECS mandate duly signedOne security cheque (favouring TCFSL, mention the full loan amount, do not enter any date).

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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Get Mobile on EMI

Modern-day smartphones come equipped with some advanced features, such as quad camera set-up, waterproof design, hi-speed processor, and 5G internet support. A high-end smartphone not only makes your daily tasks easier but also acts as a status symbol.

If you don’t want to deplete your savings, you can buy your mobile on EMI through Tata Capital’s consumer durable loans. Our mobile loans come with a range of attractive features and benefits, such as a high loan limit, zero processing fees, instant approval, and flexible repayment options. Additionally, you can avail of pre-approved offers from us for buying a smartphone on EMI without any hassles.

Benefits of Buying a Mobile on EMI

You can buy mobile on EMI by applying for mobile loans online or offline. When you apply for finance for mobile with Tata Capital, you stand to benefit in more than one way. Here is why you should buy phone on EMI from us:

Distribute Your Financial Burden

You can pay for your mobile phone using our mobile loans, and your financial burden would be spread into a convenient tenure of 6 months to 24 months.

Instant Approval and Quick Disbursal

We provide instant approvals for our loans on mobile. You can simply apply for a mobile loan online from the convenience of your home or office. You can also apply for a QIK EMI Card and use it to shop for your favorite smartphone on EMI.

Access to Latest Versions

With Tata Capital’s loans on mobile, you can purchase the latest smartphone as per your requirements.

No Cost EMI

When you buy smartphone on EMI with us, you can get the benefits of 0% interest or No Cost EMI. Additionally, we won’t levy any security deposit or hidden charges on our mobile loans.

Simple Eligibility and Minimal Documentation

To avail of our loans on mobile, you’re required to fulfill very simple eligibility criteria and complete the basic documentation process. You also have the flexibility to apply for our mobile loan online and upload the required documents on our website.

What are the Eligibility Criteria to Buy Mobile on EMI?

To be eligible for our mobile loans, you are required to meet very easy eligibility criteria in terms of age and employment status. Below are our eligibility requirements for providing loans on mobiles:

The age of the applicant should be between 21 years and 65 years

The applicant needs to be a salaried or self-employed individual

We provide maximum finance for mobile of up to Rs. 5 lakhs

The tenure for our mobile loans can range between 6 months and 24 months

Please note that the final decision of approving loans on mobiles rests solemnly with Tata Capital. You can get in touch with our customer care executive for more details on our mobile loans’ eligibility criteria.

How to get a Mobile on EMI?

By availing of finance for mobile from Tata Capital, you can purchase your favorite mobile on EMI with zero inconveniences. Our mobile loans are available online and offline with a simple application process. Below are the steps you need to follow to buy phone on EMI from us:

Decide on the smartphone that you want to purchase on EMI. Before deciding, compare various smartphones from different brands based on their features, specifications, and prices
Walk into any of our authorized retail stores across India or visit the Tata Neu and Croma website to shop for the selected mobile on EMI
Use your QIK EMI Card to pay for your smartphone. If you don’t have a QIK EMI Card, you can apply for it by visiting your nearest Tata Capital branch or on our website
Take your mobile home, and we will pay for it at the store. The EMI payments for your smartphone would be made through the signed repayment mandate on your QIK EMI card

Eligible customers can also get pre-approved offers while buying mobile on EMI from us. To check your pre-approved offers, you can visit our website or contact our customer care helpline at 1860 267 6060 between 9 AM and 8 PM on all working days.

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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