Loan Up to ₹50 Lakh
Flexible EMIs
Quick Approval

Hassle-free Loan with Quick Approval

Finance the purchase of consumer durable items without burning your savings. From washing machines to air fryers, purchase all your home essentials with a collateral-free loan  from Poonawalla Fincorp. Get up to ₹50 Lakh at attractive interest rates with minimal paperwork, flexible repayment tenure, and no hidden charges. Apply now!

Why Choose Poonawalla Fincorp

High Loan
Amount
Competitive
Interest Rate
Collateral-free Loan
Minimal Documentation
Flexible
EMIs
No Hidden Charges

EMI Calculator for a Consumer Durable Loan

Calculate your monthly repayments with our easy-to-use EMI calculator. Just enter the loan amount, interest rate, and tenure. Try now!

Optimise Your Personal Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹100000
Interest Payable
₹5,493

Loan Amount

Interest Rate

%
9.99 %
30 %

Tenure

Months
12Months
84Months

Apply for a Personal Loan in Just 3 Steps

Step1

Click on “Apply Now”

Tap the “Apply Now”button to initiate your application.

Step2

Enter Details

Enter your DOB, PAN card number, monthly income, KYC details and residential details.

Step3

Upload Documents

Upload the necessary documents for quicker approval.

On successful verification, the loan amount will be disbursed into your bank account instantly.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for Consumer Durable Loan

Meet our simple eligibility criteria to qualify:

  • Age:  Between 21 and 60 years.
  • Citizenship: Indian.
  • Monthly Income:  Minimum of ₹30,000.
  • Employment:  The applicant must have a full-time job at the central government, MNC, PSU, listed or unlisted public limited, PVT LTD, LLP or the companies which are listed under Poonawalla Fincorp.
  • Work Experience: At least a year of experience and 1 month of experience in the current company.

Documents Required for a Consumer Durable Loan

Submit just a few essential documents:

  • KYC Documents: PAN Card, Aadhaar Card, Voter ID, Driving License, or Passport.
  • Address Proof: Utility Bills, Passport or Rent Agreement.
  • Income Documents: Salary slips for the past 1 month.
  • Financial Documents: Bank statements for the last 3 months.
  • Employment Proof: Official email ID or employee ID card.

Interest Rate and Charges for Consumer Durable Loan

Poonawalla Fincorp offers loan for consumer durables at attractive interest rates and nominal charges:

Interest Rate
9.99%* p.a. onwards
Loan Amount
₹1 Lakh to ₹50 Lakh
Loan Processing Fees
Up to 3% plus applicable taxes
Lowest EMI Per Month
Starting from ₹2,124* per Lakh for 60 months
Loan Tenure
12-84 months
Prepayment/Foreclosure Charges
1. Before repayment of first six EMI:
i) If Foreclosure or Prepayment is done including balance transfer from another financial institution – 4 % on amount being prepaid plus applicable taxes.
2) After repayment of first six EMI:
i) If Foreclosure or Prepayment is done from own funds of the Borrower- Nil charges.
ii) If Foreclosure or Prepayment is done any other source including by balance transfer from another bank/financial institution- 4% on amount being prepaid plus applicable Taxes.
Default Charges
24% p.a. + taxes
Repayment Instrument Dishonour Charges
₹500/- Per Bounce
Stamp Duty
At actuals (as per state)
Hidden Charges
Nil

Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf

*T&C Apply

Get Funds Quickly With
Minimal
Documentation

1

Click 'Apply Now' Fill out the online form to start your loan application.

2

Upload Documents Provide your KYC documents to complete the verification.

3

Get Funds Get the loan amount
disbursed to your bank account.

Happy Customers, Happy Us

Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s FinHub

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Frequently Asked Questions

What is a Consumer Durable Loan?

A personal loan for consumer durables is a financing option for purchasing white goods or luxury items and paying later in affordable instalments. You can use the loan amount to purchase any goods such as home appliances, electronics and even luxury items of up to ₹50 Lakh. 

For which products can I avail of a Consumer Durable Loan?

You can purchase any home appliances, electronic items or luxury goods with Poonawalla Fincorp’s loan for consumer durables. 

Who is eligible for Poonawalla Fincorp’s consumer durable loan?

Anyone can apply for this loan; provided you meet our age, income, employment, and credit score criteria.