Buying Home Appliances on No Cost EMI is Now Super Easy


Many times, you may have come across a fantastic discount offer on ACs, fridges, inverters, refrigerators and other home appliances. However, due to the cash crunch, you are left with no options but to let the offer slip.

Also, you may have thought that if you had a credit card, you would have bought all home appliances on EMIs. However, many times, your credit card application could not be approved due to eligibility issues.

Nonetheless, there is no need to wait for getting a credit card to start shopping on EMIs and buying products without issues. A concept called consumer durable loan is now available and famous in India to help you buy home appliances on No Cost EMI.

Many leading lenders such as the Bajaj Finserv EMI Network have made the consumer durable loan facility available in India. In case if you wish to apply for it so that you can buy ACs, fridges and more on EMIs, then you can read this post.

What is a consumer durable loan?

A consumer durable loan is a unique facility designed by leading Indian banks and non-banking finance companies (NBFCs).

The loan is designed to be given only for the purpose of helping eligible customers buy home appliances and other products on easy EMIs. A leading consumer durable loan provider in India is none other than the Bajaj Finserv EMI Network.

If you are a salaried individual with consistent employment and income history, you can get instant approval for a loan limit starting from Rs.4,000 up to Rs.4 lakh.

You can use the approved credit limit to shop for home appliances, smartphones, life care products, groceries, furniture and 1 million+ products.

All that you can do is swipe the EMI Network Card at a partner store and shop on easy instalments.

Consumer durable loan benefits

Higher loan limit

You can buy a product of your choice by using a higher credit limit of up to Rs.4 lakh. You don’t need to compromise on your wish to buy a product of your choice due to cash crunches.

Flexible repayment tenors

You don’t need to bother about paying the utilized limit out of your loan limit soon. It is because you can avail a tenor of 3, 6, 9, 12, 18 and 24 months to repay it. You can select a tenor as per your income level and never strain your monthly budget.

Lower or no down payment or processing charges

Most of the products that you buy on No Cost EMI via the consumer durable loan facility of the Bajaj Finserv EMI Network come with no or lower processing charges. Similarly, you can pay no or lower down payment for buying some products.

What is No Cost EMI?

The No Cost EMI means spreading the entire cost of a product into affordable tenor and paying only the exact EMI amount and nothing extra. When you don’t need to pay anything extra above the EMI amount, you end up saving more.

Let’s clear the concept with an example:

Example – Let’s say if you wish to buy an LG 1.5 Ton 3 Star AC over a tenor of 9 months whose price is Rs.35,000. In this case, if you buy the AC on No Cost EMI, then you will need to pay only Rs.3,888 for the next 9 months and nothing extra.

As a result, if you buy the same AC on other EMI-based payment systems, you may need to pay other charges as well including the EMI amount.

Hence, buying the AC, fridge, inverter and other home appliances on affordable No Cost EMI facility is a smart idea to grab huge savings.

Steps to buy home appliances and more on No Cost EMI

  • Visit one of the 60,000+ local partner stores available across India is 1300+ cities on the Bajaj Finserv EMI Network
  • Pick your fridge, AC, inverter, washing machine and more and swipe your EMI Network Card
  • Come out – your shopping on No Cost EMI is now complete

Even people without the EMI Network Card can now buy products on No Cost EMI. All that they can do is submit their KYC documents along with a cancelled cheque at a store to get in-store financing to start shopping on EMIs.

This way, you can join 1 crore+ members on the EMI Network and make the most of the No Cost EMI facility.