Consumer Durable Loan

Looking to buy an AC or a new LED TV on EMI to upgrade your lifestyle? Want to refurnish your home?

Get the MoneyTap app for a personal loan with a line of credit that you can use as a consumer durable loan to purchase a wide variety of big-ticket items like ACs, TVs, refrigerators, smartphones, washing machines and other appliances on comfortable loan EMIs.

MoneyTap’s Personal Loan Features and Benefits

Get a line of credit of up to ₹ 5 Lakh approved in real-time.
Pay interest only on the amount used and not on the entire amount approved for you.
Repay your card spends in flexible EMIs as you choose the payment period that ranges anywhere from 2 months to 36 months.

Withdraw as little as ₹ 3,000 or what you need or as much as your approved limit.
Enjoy 100% cash withdrawals with MoneyTap Credit Card 2.0.
You just need a valid address proof and a government recognized ID to get started.

Consumer Durable Loan EMI Calculator

Loan Amount :

₹

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0 |
25L |
50L |
75L |
100L |
125L |
150L |
175L |
200L

Interest Rate :

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5 |
7.5 |
10 |
12.5 |
15 |
17.5 |
20

Tenure :

Yr %

Months

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0 |
5 |
10 |
15 |
20 |
25 |
30

EMI Scheme

EMI in Advance EMI in Arrears

₹24,959

Loan EMI

₹34,90,279

Total Interest Payable

₹59,90,279

Total Payment (Principal + Interest)

Products You Can Purchase Using a Consumer Durable Loan

Home Essentials

Washing Machine
Air Conditioner
Refrigerator

Water Purifier
Microwave

Air Coolers
Kitchen Appliances

Digital Products

Smart Watches
Smartphone
Desktop

Laptop
Printer

Tablet
DSLR Camera

Home Furnishing

Sofas & Bedding
Modular Kitchen
Bathroom Fittings and Accessories

Smart Home Appliances
Home Entertainment System

Cook Tops & Hubs
Home Exercise Equipment

Someone like you is happy with MoneyTap

Navjyoti

You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But MoneyTap credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.

Navjyoti

Julen

The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.

Julen

N Cavin Misao

I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.

N Cavin Misao

Eligibility Criteria

Must be a full-time salaried employee with a minimum take-home salary of ₹ 30,000/month
OR
Must be a self-employed professional with an income of at least ₹ 30,000/month.
(Only certain professionals like doctors, lawyers, or business owners qualify)
Must be above 23 years and below 55 years of age
Must be a resident of one of the following cities:
View city list

Required Documents

Pan Card Number
Professional Selfie
(To be taken on the MoneyTap App)
Address Proof
(Valid Driving License / Valid Passport / Aadhar Card)
ID Proof
(Valid Driving License / Valid Passport / Voter’s ID / Aadhar Card / Pan Card)

Reasons You Are Here

Need to make an immediate purchase for your home
Need to buy multiple electronic appliances at one time
You are starting afresh and need an additional source of finance
You are looking to upgrade your home/lifestyle
Want to buy the latest gadget in the market

No need to save up for years to be able to make purchases you need for your home and family to improve your quality of life. Now, with MoneyTap’s line of credit, you can simply apply for a personal loan for consumer durables and fulfil all your needs!

Why Use MoneyTap to Fund Your Purchases?

An affordable consumer durable finance that suits your needs.
Freedom to apply for a higher amount for additional expenses - MoneyTap lets you save on interest rates and allows you to decide the repayment terms.
Get a higher credit limit approved but only use what is actually required, no need to withdraw it all at once.
Freedom to pay interest on the amount used and not the amount approved.

Tips to Keep in Mind When Selecting a Financing Option to Buy Consumer Durables

When deciding between a consumer durable loan and a personal loan to buy big-ticket items for your home, be sure to check the interest rates before finalizing on your financing option.
Most traditional loans for consumer durables have extremely short payback periods. So, if you have to make a big purchase and are strapped for cash, it is best to go for a personal loan, so your repayment period is flexible.
Consumer durable loans only provide 80-90% of the total amount, whereas a personal loan gives you a lump sum which can be used as per your convenience.
When narrowing down on a financing option, be sure to incorporate the hidden costs such as processing fees that will also be deducted from the loan amount before selecting the best consumer durable loan option on hand.

Get the app for a seamless application process

Get it on playstore

Get it on appstore

With MoneyTap’s line of credit you will have money available instantly 24x7 to use anytime, anywhere. Click below to experience its power.

Apply now

Our journey so far

5 years and counting as India’s 1st app based Credit Line

1.1M

Happy faces
252K

Loans disbursed
5

Years of service
10M+

Downloads

Different Ways to Use MoneyTap Personal Loan 2.0

MoneyTap's Personal Loan is
Now Available Across India

Consumer Durable Loan FAQs

What is a consumer durable loan?

It is a finance option that can be used to purchase one or more expensive household appliances on affordable EMIs - like an AC on EMI or an LED TV on EMI by removing your immediate financial burden.

If you don’t want to wait for a long time or dip into your savings, a personal loan is a perfect solution to add luxury to your life with zero down payments.

Is consumer durable loan secured or unsecured?

Consumer durable loans are unsecured loans. That means you don’t need to pledge for loan against property. That’s why lenders look at your CIBIL score and repayment history when you apply.

How can I buy an LED TV on EMI?

You can buy an LED TV on EMI with the following options:

EMI card
Consumer durable loan
You can shop with your debit card and have your purchase converted into affordable EMIs. Approval is quick with minimal documentation.
Credit cards

Can I buy home appliances on EMI without a credit card?

Yes, you can buy the home electronics/appliances on EMI without a credit card by using options such as debit (ATM) cards, EMI cards, consumer durable loans or personal loans.

If you want to buy household appliances like an AC or an LED TV on EMI but don’t have a credit card you can apply for MoneyTap's easy small loan that does not subject you to the hassles of paperwork.

How can I apply for a consumer durable loan online?

MoneyTap has a simple loan online process that can be completed in minutes by downloading the app on your phone and filling the required information to register.

You can then upload your KYC documents and receive an instant approval within minutes. Once approved, your amount will be ready to use as a consumer durable loan.

What are the options to finance an AC on EMI?

You can buy an AC on EMI by using options such as debit cards, credit cards, EMI cards, consumer durable loans or personal loans.

If you are shopping online, then you can choose the option “Convert into EMI” during checkout.

What products can I purchase with a consumer durable loan?

A consumer durable loan covers a wide range of household appliances on EMI including:

Kitchen Appliances
Furniture
Digital Products
Mobile Phone

Cooking Range
Fridge
LED TV
Washing Machine

Microwave
Laptop
Projector
Camera

Tablet
DSLR
Audio Devices

and everything that is covered under the category of consumer products.

Find our social channels

Quick Links

Reach Us

Download the app

Get it on playstore

Get it on appstore

MoneyTap’s Personal Loan Features and Benefits

Loan EMI

Total Interest Payable

Total Payment (Principal + Interest)

Products You Can Purchase Using a Consumer Durable Loan

Someone like you is happy with MoneyTap

Navjyoti

Navjyoti

Julen

The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.

Julen

N Cavin Misao

I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.

N Cavin Misao

Eligibility Criteria

Required Documents

Reasons You Are Here

Why Use MoneyTap to Fund Your Purchases?

Tips to Keep in Mind When Selecting a Financing Option to Buy Consumer Durables

Get the app for a seamless application process

Our journey so far

1.1M

252K

5

10M+

Different Ways to Use MoneyTap Personal Loan 2.0

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Medical Loan

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Used Car Loan

Two-Wheeler Loan

Laptop Loan

Mobile Loan

Home Renovation Loan

Consumer Durable Loan

Debt Consolidation Loan

Used Two-Wheeler Loan

MoneyTap's Personal Loan is Now Available Across India

Consumer Durable Loan FAQs

Find our social channels

Quick Links

Reach Us

Download the app

MoneyTap's Personal Loan is
Now Available Across India