Consumer durables are gadgets and devices that are designed to last for a long time and yield utility over time. Most of your household appliances will fall under this category. While these products are slightly expensive, availing a consumer durable loan from Money View will be advantageous.
How to Avail a Consumer Durable Loan from Money View
Follow the steps given below to easily get a consumer durable personal loan from Money View -
Check your eligibility
Provide all the details required and we will let you know your eligibility in just 2 minutes
Select Your Loan Plan
Based on the options given, you will have to select the loan amount and repayment term of your choice
Provide Required documents
Easily upload all of the necessary documents online for verification
Instant Loan Disbursal
After your documents are verified and loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours
Note -
- Once your documents are verified, you will receive a NACH form which needs to be printed, signed, scanned, and sent back to us
- This step will enable the auto-debit facility from your bank account and allow you to pay your EMIs on time automatically without the need for any manual intervention
- On receiving your NACH form, you will need to review the loan agreement on the app. Please submit the application after reviewing all the terms and conditions thoroughly
Eligibility Criteria for a Consumer Durable Loan
Given below is the eligibility criteria for a personal loan or consumer loan from Money View -
- Applicants must be between 21 years and 57 years
- Income must be credited directly to the applicants’ bank account
- Minimum in-hand Income and Credit Score requirement is as follows-
| Income and Credit Score Eligibility Criteria* | |||
|---|---|---|---|
| Salaried Individuals | Minimum In-Hand Income | Area of Residence | CIBIL Credit Score Requirement |
| Rs 13,500 | Any | CIBIL Score of 600 /Experian Score of 650 and above | |
| Rs 20,000 | Mumbai/Thane or the NCR region (Delhi, Noida, Gurgaon, Ghaziabad, Faridabad, etc.) | New to Credit or CIBIL Score of 600 /Experian Score of 650 and above | |
| Rs 15,000 | Metro City other than Mumbai and NCR | CIBIL Score of 600 /Experian Score of 650 and above | |
| Self-Employed Individuals | Rs 15,000 | Any | CIBIL Score of 600 /Experian Score of 650 and above |
Features and Benefits of Personal Loans in Kerala
24 Hour Disbursement
Your loan will be credited within a day after your loan application has been approved
Low Interest Rates
Our interest rates are affordable and start at just 1.33% per month
Flexible Loan Amount
Depending on your eligibility you can choose any loan amount of upto Rs. 5 lakhs
Flexible Repayment Term
Depending on your eligibility, choose repayment tenure of up to 60 months
Instant Eligibility Check
Before applying for the loan, applicants can visit the Money View website or download the app to check their eligibility which will only take 2 minutes
Loans for Low Credit Score Applicants
The minimum CIBIL score of 600 or Experian score of 650 is necessary
Completely Online
The entire process from application to disbursal is quick and hassle-free
No Collateral or Guarantor
There is no need for a guarantor or collateral for Money View personal loans
In Conclusion
Consumer durables is a product that is made to last and produce benefits for a long time. The cost of the consumer durables can range anywhere between a few thousand to lakhs of rupees depending upon your preferences. Since these are not replaced very frequently, it makes sense to go in for a good quality one. You can purchase high-quality products with the Money View personal loan for consumer durables and not worry about the expenses. Visit the Money View website or download the app to apply now.
Consumer Durable Loan - Related FAQs
Some of the popular consumer durables are -
- Television/Home Theatre system
- Electronic gadgets like laptops, mobiles
- Washing Machine
- Microwave Oven
- Refrigerator
- Mixer Grinder
- Coolers, heaters, and Air-Conditioner
- Vacuum Cleaner
- Hob/Cooktops
You can avail a personal loan from Money View to pay for your consumer durables with the following documents -
| Identity Proof | Address Proof | Income Proof |
|---|---|---|
PAN Card - This is the primary ID proof required. However, if it is rejected due to image quality issues or
other reasons, any 1 of the officially valid documents given below will suffice)
|
Any 1 of the following -
|
Salaried Applicants - Last 3 months’ bank statements of your salary account in PDF format showing salary
credits
OR Self-Employed Applicants - Last 3 months’ bank statements in PDF format if you are self-employed |
| Fees & Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starting from 1.33% per month |
| Loan Processing Charges | Between 2% to 8% of the approved loan amount |
| Interest on Overdue EMIs | 2% per month on the overdue EMI/Principal loan amount |
| Cheque Bounce | Rs.500/- each time |
| Loan Cancellation |
|
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