Want to buy a product but don’t have enough money for that? Fret not. There are some good companies out there who understand your needs and can help you acquire the goods you want to add to your home. Though these companies charge you one time fee or interest but these can help you buy something essential you need urgently. Here in this article, I will walk you through some renowned consumer durable loan companies in India to buy items on EMI.
Consumer durable finance companies in India allow you buy household appliances such as LED TV, laptop, refrigerator, air conditioner, mobile and the like, on EMI with or without credit card. And nowadays many durable loan companies offer interest free loan with reasonable processing charges.
Durable finance facility has been gaining popularity in India since the prominent companies pertaining to this finance segment have come up with ‘No Cost EMI’ options.
Earlier, Indian consumers kept themselves away from durable finance because of high interest rates and processing charges. But now many well-established finance institutions have shown interest in durance finance.
To mitigate extra charges like interest rates, file charges and various fees, some companies have started offering finance schemes wherein interest rates are sub-vented either by the manufacturers or companies themselves.
In this post, I’ll be highlighting top consumer durable loan companies in India which are providing consumer durable loan facility with astonishingly low charges.
Although, nowadays, almost all finance companies provide this type of facility but some of them are evolving very rapidly because of their lucrative loan offers.
Read on to know list of top consumer durable finance companies in India.

Top consumer durable loan companies in India
Considering current scenarios, I’ve listed four durable loan companies which are popular among consumers. I’ve finalized this list by considering offline and online popularity.
- Bajaj Finserv
- Tata Capital Financial Services Limited
- ICICI Bank Consumer Finance
- HDFC Bank Consumer Durable Loan
Bajaj Finserv
Let’s begin the most obvious and best company in India that enables you buy products on EMI. It’s none other than Bajaj Finserv. It’s a subsidiary of Bajaj Holdings & Investments Limited.
Bajaj Finserv has evolved remarkably in consumer durable finance segment. In fact, it’s the company who actually revolutionized durable finance business in India.
The company provides EMI finance facility for almost all electronic goods that one needs at his/her house.
Quick loan approval and low processing charges make it best choice of consumers. One can visit its authorized outlet or its website or can download its mobile wallet to apply for loan.
Bajaj Finserv has over 12000 partner stores across the country to provide hassle-free EMI loan.
The company recently has expanded its business significantly. Now it’s not limited to durable finance, you can even request for home loan.
Tata Capital Financial Services Limited
Tata Capital Financial Services Limited based in Mumbai is a well-known finance company in the country which has been providing satisfactory financial solutions to fulfill everyone’s finance needs.
TCFSL also provides consumer durable loan for purchasing household goods or items. It offers a large range of electronic products at no cost EMI. The company has a large network of branches across the country and also offers online EMI loan facility.
ICICI Bank Consumer Finance
ICICI Bank Consumer Finance helps customers buy their favorite gadgets such as mobile, laptop or the like at no cost EMI. The company offers loan facility to buy electronics products on EMI.
The bank is offering finance facility for purchasing household items. One can contact ICICI Bank representatives to know more about the facility.
ICICI Bank has made loan process very easy, sometimes loan gets disbursed within few minutes. Customer will need to produce very less documents to get approved for the loan.
The bank has partnered with many big brands to speed up the process.
It’s indeed a best consumer durable loan companies in India.
HDFC Bank Consumer Durable Loan
HDFC Bank offers loan for buying electronic goods or durable goods. The bank provides loan amount up to the cost of the product for up to 36 months tenor. Contact HDFC Bank representatives for further queries pertaining to loan or visit official website of the bank.
Equated Monthly Installments (EMI) options are available on credit card, debit card and EMI cards.
Like other consumer durable loan companies, HDFC Bank has made loan disbursement process as easy as possible.
Before you jump in, I would suggest you read following texts. Many of us extravagantly buy things. I strongly suggest you, don’t become one of them. Seek durable finance option only if you really need something.
Who should avail durable finance facility?
Though anyone can avail durance finance facility but industry experts only recommend it to those who are in dire need. Buying things unnecessarily is never a wise decision and you should rather seek an investment option like SIP to meet your future needs than acquiring something that you won’t need.
This peace of content on ‘Stop Wasting Money‘ is worth reading.
On the flip side, it is also a good option to fulfill your desires of luxury goods.
Eligibility to avail durable finance
Currently, this facility is available for salaried and self-employed persons. Those who don’t have regular or stable income sources cannot avail this facility. However, it’s up to the consumer durable loan company to honor your loan request or not.
In most the cases, where price of the goods is not too high, usually companies disburse the loan.
Benefits of consumer durable loan
Earlier, one might not think to avail durable goods loan facility due to various hidden charges, processing fees, and interest rates. But, as of now, consumer durable loan companies in India have come up with transparency and ‘No Cost EMI’ options. Therefore, one can consider to avail it to hike up his/her living standard.
Here are some benefits of consumer durable loan:
- Reasonable processing charges
- Most of the products are available at ‘No Cost EMI’ option with some or zero processing fee. This way customer only pays the actual product price.
- Choose term of loan as per your convenience. Consumer durable finance companies in India offer flexible EMI tenure. Customer can decide amount, period and EMI frequency of the loan.
- Quick approval with less documentations. Usually, to buy things on EMI, one should only needs to show his PAN Card as a proof. Without PAN Card, most of the companies deny loan.
- Some companies offer zero down-payment option.
- No penalties for prepayment of loan.
- You can avail this facility without having credit card.
Conclusion
Consumer durable finance can be beneficial for those who want to maintain a healthy lifestyle but facing shortage of funds. One can avail this facility to acquire something that is urgently needed.
No it doesn’t. You simply give standing instructions to your bank that certain amount should be paid on monthly basis to the payee account.
Can bank charges after getting noc of consumer durable loan?