Upgrade Your Home With A Consumer Durable Loan

Are you are planning to upgrade your living room TV or want to change your old washing machine but find yourself in a cash crunch? A consumer durable loan from Credy can come in handy. It will allow you to purchase the necessity without spending a huge amount upfront. You can pay off the debt in easy EMIs making it ideal for a salaried person having limited cash flow every month. It will make possible to buy your dream electronic gadget without the burden of a huge upfront cost. A consumer durable loan is very useful for youngsters who dream to own the latest electronic gadgets but found themselves limited with spareable cash. You can easily own a DSLR or a gaming console without saving up for months and pay for the EMI every month. This is very necessary as technologies change every day and saving up for one can take a long time by the end of which the piece of tech can be outdated.

Credy believes in making every small dream come true. We thus provide you the option to buy a gadget or home appliance today by paying up the full amount upfront but with easy EMIs. You can get a personal loan from Credy for the amount of your item and use it to pay for it. The loan can be repaid over a period of 3-12 months in easy EMIs at an affordable interest rate. It is affordable than your credit card and gives you the freedom to spend. A personal loan from Credy can be approved and disbursed directly to your bank account within 24 hours. Thus you know exactly when you can buy your dream TV or your dream DSLR.

What is a consumer durable loan?

A consumer durable loan is essentially an unsecured personal loan provided for the purpose of buying a home appliance or electronic items with an option for easy EMI. You can finance your purchases using a personal loan which is quick and affordable. To be eligible for a consumer durable loan you are required to have a stable monthly salary deposited in your bank account and a good credit score. Your credit score plays an important role in the approval of the loan amount. At the time of application, you are required to provide your personal details along with bank statements along with your reason for the loan. After the approval of your application, a field agent will visit you at your home and verify the documents in person. The whole process from application to approval of your loan to disbursal of the loan amount is, totally paperless.

A consumer durable loan is essentially an unsecured personal loan provided for the purpose of buying a home appliance or electronic items with an option for easy EMI. You can finance your purchases using a personal loan which is quick and affordable. To be eligible for a consumer durable loan you are required to have a stable monthly salary deposited in your bank account and a good credit score. Your credit score plays an important role in the approval of the loan amount. At the time of application, you are required to provide your personal details along with bank statements along with your reason for the loan. After the approval of your application, a field agent will visit you at your home and verify the documents in person. The whole process from application to approval of your loan to disbursal of the loan amount is, totally paperless.

The interest rates on the loan amount vary but are affordable making it ideal for people in cash crunch who are willing to buy a new home electronics or even a smartphone. You can own the product today and continue to pay off the debt in easy installments over a period of 3-12 months. Thus, it will not put any extra pressure on your monthly budget and salary and allow you to manage your monthly expenses effectively while being able to buy the new LED TV or AC. It is practical for most salaried persons, as they have fixed income sources and fixed expenses they need to take care of every month. It will be a burden for them if they are to spend a huge amount at one go on a home appliance or even new phone for themselves.

Home Appliances loan is very useful

As we discussed earlier how buying a home appliance can be expensive and will be a cash burden for an average salaried person. A home appliance loan can be an efficient way to finance your purchase while not carrying the burden of huge expense upfront from your salary. It makes it easier for a salaried person to upgrade their home with a home appliance. If you are in a tight budget but need to upgrade your old home appliance, a home appliance loan is ideal. It is easily approved without much paperwork or keeping any asset as collateral.

It is essentially a personal loan without any restriction on the way you decide to spend it. We do not limit the opportunities as you can decide on whatever gadget you want to buy with the loan. You can take up to 1 lakh rupees as a personal loan from Credy without any security. All it matters is your creditworthiness and salary statement. As per our beliefs of making the process streamlined and paperless we do have physical verification conducted by our field agents. This limits the area of our operations to a few cities only at the moment of writing this article. We are expanding very rapidly thus stay updated with us to know if we are in your city.

Benefits of taking a personal loan for electronics?

A personal loan for electronics is really beneficial for people looking to upgrade their home appliances without the burden of paying the whole amount at one go. You can buy any electronic gadgets including laptops, music system, LED TV, or any other electronics. A personal loan will help you buy the necessity and pay off the amount in equal installments over a period of 3-12 months. The loan interest rates are very nominal and thus it will help you buy your dream electronics upfront. It means upgrading your home will not stop from a cash crunch anymore. You can get a personal loan approved and deposited to your bank account in 24 hours. This ensures that you can have the dream electronics today itself rather than waiting for months to save up to buy your necessity.

  • Easy Approval and paperless: a consumer durable loan which is essentially a personal loan is easily approved. It only takes a few hours to get the process completed and amount disbursed in the accounts. The approval process is very simple and streamlined making it easier for an individual to get a loan from Credy. The process begins with you signing up on our website or Android app and providing your personal information. You need to provide a reason for taking a loan along with your bank statement and personal details. Our experts will assure your application is personally examined and approved as early as possible. After the online process, a field agent will be assigned who will visit you in person to verify the documents. This ensures the whole process is transparent and paperless. After the physical verification, its all about waiting for the fund transfer to be credited to your bank account.
  • No security: a personal loan does not need any collateral. You can get a personal loan from Credy with your bank statement and personal details. Your credit score does matter in granting a loan for your personal needs. It can be any personal needs, like buying home appliances or medical or education. You can take a personal loan for any reason using your creditworthiness and stable salary. Any salaried person living in the cities mentioned in eligibility criteria can take a loan without any security. These cities are constantly expanding as we need to conduct physical verification before loan disbursal.
  • Affordable: a personal loan from Credy is affordable with an interest rate of only 1-1.5% per month through the loan tenure. You have the flexibility to choose the tenure from 3-12 months ensuring that the loan is affordable for you. The charges are also nominal with only 5% processing fees with a minimum of Rs.500. There are some early repayment charges levied on the rest loan amount along with some late repayment fees. The easy EMIs ensures you have the freedom to repay your loan amount over a flexible time period.
  • No restriction: a personal loan gives you the freedom to spend the amount on your necessity without any restriction. A consumer durable loan will allow you to purchase any home appliance. You can pay off the whole amount of your purchase upfront with the personal loan fund and repay the amount in affordable easy EMIs. Any salaried person with a monthly income of Rs. 15,000 is eligible to get a loan from Credy. You just need to have a good credit score to give us the confidence in your creditworthiness to repay the loan.

Consumer durable loan interest rate from Credy

A consumer durable loan from Credy is affordable with a flexible rate from 1-1.5% per month. This will ensure your dream does not get crunched under financial pressure. A personal loan will give you the freedom to purchase home appliances you want to buy in a financial crisis. An affordable personal loan will give you the confidence to spend without getting financially burdened. No one wants a financial burden in their life which they have to carry around for years. A personal loan is affordable and it does not put any pressure on your financial independency.
Refer to the table below for all the charges and interest rates charged on a personal loan up to a sum of 1 lakh rupees.

Loan AmountUp to ₹ 1 Lakh
Interest Rate1 to 1.5% of Loan Amount Per Month
Loan Tenor3 to 12 months
Processing Fee3% of Loan Amount (Minimum ₹500)
Early Repayment Fee2% of outstanding loan amount
Late Fee2% of EMI Amount per week

Eligibility criteria for a consumer durable loan from Credy

Anyone who has a fixed salary is eligible to take a personal loan from Credy. You need to provide us the salary account statement for us to grant you a personal loan. Our verification process is streamlined and transparent making it easier for anyone and everyone to take a loan for our urgent needs. We also believe is standing with you in your need and thus we have the policy of instant loan. This will ensure you get the fund at the time of your need and you do not have to wait for the fund to credit in your bank account. Thus you can be sure of getting the fund when you need it.

You can avail a consumer durable loan from Credy up to 1 lakh rupees if you fulfill the following requirements:

A consumer durable loan from Credy does make sense

A consumer durable loan from Credy does make sense as it offers affordable personal loan without any security. Any salaried person with a minimum monthly income of Rs 15000 is eligible to get a personal loan from us which they can use to purchase any home appliance. Any consumer durable loan is actually a personal loan which is unsecured loan thus require no security. The loan amount that can be approved is up to Rs 1 lakh which can be repaid over a tenure of 3-12 months. The rate of interest levied on the loan amount can vary from 1-1.5 % over the loan amount disbursed in your bank account. It will make it affordable and easier to apply for a personal loan and use it for purchasing your dream home appliances or electronics.

It can be difficult for a salaried person to spend a large sum at one time on buying a home appliance. A personal loan can help you get your dream electronic or upgrade your home appliance without the burden of credit card interest rates. The affordable interest rates from Credy makes it great for a salaried person to choose their home appliance without the burden of huge interest rates. You can get the loan approved and disbursed in your bank account as early as the same day. This will give you the freedom to buy any consumer durable on the day you want it so that you do not have to wait for a long time to get the fund at your disposal. So, a personal loan from Credy for your consumer durable does make sense in today’s market.