Consumer Durable Loan

Consumer Durable Loans

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. 

These devices can often be expensive, and availing a loan to buy them is common practice. While there are many consumer durable loan companies, you can opt for a moneyview personal loan and use the funds to purchase the gadgets of your choice.

Eligibility Criteria for a Consumer Durable Loan

The eligibility criteria for a moneyview consumer durable loan or personal loan are very inclusive. To be eligible for a consumer loan, you must fulfill the following criteria -  

Documents Required to Apply for a Consumer Loan Online from moneyview

The documentation required for applying for a consumer loan or a personal loan from moneyview is minimal. All you will have to do is - 

Please note that the documentation requirements will vary based on your profile. You may be required to upload proof of address, bank statement, and other supporting documents. 

In case you are required to upload proof of address, any one of the following documents will suffice - 

In case you are required to upload proof of income, you must furnish your bank statement for the last three months. This statement must also show your salary credits.

How to Avail a Consumer Durable Loan from Moneyview

  • 1

    Check Eligibility

    Provide a few basic details to check your eligibility in just 2 mins!

  • 2

    Upload Documents

    Easily upload all of the necessary documents online for verification

  • 3

    Amount Disbursed

    After your documents are verified and the loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours.

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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
A consumer loan affects your credit score just like any other loan. If you pay the EMIs on time, it is not bad for your credit score, in fact it can improve your credit score.
You can close a consumer loan by paying off the whole amount either in EMIs or as lumpsum.
If a consumer durable loan is not paid, the lender might increase the interest rate, levy fines and other charges. Eventually not paying a consumer durable loan will affect your credit score negatively.

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