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Consumer Durable Loan

Turn your dreams into reality with an IDFC FIRST Bank Consumer Durable Loan. Our loans are tailored to your needs, with flexible and extended tenures of up to 36 months with loan amounts ranging from *₹5,000 up to ₹5 lakhs. You can easily apply for our Consumer Durable Loan online and get an instant approval in 2 minutes. With IDFC FIRST Bank, you can live your best life.Read More

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Key Benefits

Attractive interest rates

Attractive interest rates

EMIs paid at no additional cost

Flexible Tenures

Flexible Tenures

Choose your repayment plan between 3 to 36 months

Instant approval

Instant approval

Click on Apply Now and check your eligibility OR Walk into any store and apply for a loan

Limitless Financing

Limitless Financing

Access quick loans anytime, anywhere

Pre-Set Credit Limit

Pre-Set Credit Limit

Redeem against any number of purchases. Minimum value of Rs. 3000

Dynamic Credit Limit

Dynamic Credit Limit

With automated credit history check, get your limit updated between 25k to 5 lakhs

Eligibility Criteria:

  • New Customer: An individual between 21 and 65years
  • Existing/ Easy Buy EMI Card Customer: An individual between 21 and 68years
  • Employment Type: Salaried or Self Employed

How to Apply?

Loan application procedure for a consumer durable loan is very simple. You can apply from any of the following option:

Check eligibility online

  • Step 1: Click on “Apply Now
  • Step 2: Enter your mobile number for OTP verification
  • Step 3: Fill in the personal details
  • Step 4: When your Consumer Loan application is accepted, visit our representative at the nearest store Click here

*Terms and conditions apply, based on applicant's eligibility and financial profile

Documentation:

Proof of Identity: (Any one of the below Officially Valid Document (OVD))

  • Aadhaar Card
  • Driving License
  • Voter ID
  • Passport
  • Job ID Card issued by NREGA
  • National Population Register

Proof of Address (Any one of the below *OVD document):

  • Aadhaar Card
  • Driving License
  • Voter ID
  • Passport
  • Job ID Card issued by NREGA
  • National Population Register

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Interest Rates & Applicable Charges

Know about our minimal and transparent Interest Rates & Applicable Charges

View Interest Rates & Applicable Charges

Eligibility Image

FREQUENTLY ASKED QUESTIONS

What is a Consumer Durable Loan?

A Consumer Durable Loan is a finance solution that makes durable items like electronics, home appliances, furniture, etc. more accessible with easy No Cost EMI Options.

Products which you can shop for with a Consumer Durable Loan are:

  • Digital Products like Mobile phones, cameras, tablets, DSLRs, audio devices, laptops, Smart watches, etc. 
  • Home appliances like Refrigerators, Air Conditioners, Washing Machines, Microwaves, Water heater, Water purifier etc.
  • Lifestyle products like Furniture, home decor items, Automotive parts like Tyres, CNG fitments etc. can be purchased with a Consumption Finance Loan.

Is Consumer Durable Loan a secured or an unsecured loan?

Consumer Durable Loans are unsecured loans where you are not required to pledge anything as collateral for the loan.

Why should I take a Consumer Durable Loan from IDFC FIRST Bank?

With IDFC FIRST Bank Consumer Durable Loan you can:

  • Purchase your desired consumer durable products at affordable EMIs without an immediate financial burden.
  • Pay in easy installments with nominal or no down payment as per the product offer.
  • Avail of No-Cost EMI option on a wide range of products thus making your purchase even more affordable.

What is the interest rate on IDFC FIRST Bank Consumer Durable Loan?

IDFC FIRST Bank offers competitive interest rates including No Cost EMI facility and flexible tenure schemes ranging from 6-36 months. Please refer to the Consumer Durable Loan Schedule of charges for additional information.

What is the maximum loan amount offered by IDFC FIRST Bank Consumer Durable Loan?

IDFC FIRST Bank Consumer Durable Loan offers loan of up to ₹8 Lakhs.

What is the maximum loan tenure for IDFC FIRST Bank Consumer Durable Loan?

The maximum loan tenure offered on IDFC FIRST Bank Consumer Durable Loan currently is 36 months. 

What are the benefits of getting a Consumer Durable Loan from IDFC FIRST Bank?

We have one of the best Consumer Durable finance solutions. Our loans are tailored to your needs with flexible and extended tenures with following benefits:

  • Quick and Easy Loan Application process- Click here to apply for IDFC FIRST Bank Consumer Durable loan
  • Quick online approvals within minutes
  • Easy processing: Walk into the nearest dealership store, choose your desired product, instantly get an approval on your loan application by submitting the required documents to our sales representative
  • Flexibility: We offer loans ranging from ₹5,000 to ₹8 Lakhs with a maximum tenure of 36 months
  • No Cost EMI options on a wide range of products. No Cost EMI is also referred to as interest free EMI
  • No security deposit: No security deposit is required to avail of a Consumer Durable Loan from IDFC FIRST Bank.
  • Loan details on your phone  - Easily access your loan details, view/download documents or make EMI payments and much more via our IDFC FIRST Bank mobile app.

Which dealership stores provide IDFC FIRST Bank Consumer Durable Loan?

We have partnered with major retailers and brands across India for your convenience. 

Click here to locate the stores that offer IDFC FIRST Bank Consumer Durable Loan.

Who can apply for an IDFC FIRST Bank Consumer Durable Loan?

Salaried individuals in the age group of 21 years to 60 years & Self-employed individuals in the age group of 21 years to 65 years can apply for IDFC FIRST Bank Consumer Durable Loan.

Click here to apply for IDFC FIRST Bank Consumer Durable Loan via our website. 

Can a Non-IDFC FIRST Bank customer apply for a Consumer Durable Loan?

Yes. Non-IDFC FIRST Bank customers can apply for our Consumer Durable Loan, provided they meet the eligibility criteria. 

Click here to apply now.

Do I need a co-applicant to apply for a Consumer Durable Loan from IDFC FIRST Bank?

No, a co-applicant is not required to apply for a Consumer Durable Loan from IDFC FIRST Bank.

How do I apply for IDFC FIRST Bank Consumer Durable Loan?

You can apply for our Consumer Durable Loan via:

  • Our Website - Apply online and get approvals within a few minutes.
  • Walk into the nearest dealership store and our sales representative can help you with the application process. Locate store

 In case you want to apply right away, follow the below steps: 

  • Step 1: Click here to start your application process 
  • Step 2: Click on “Apply Now”
  • Step 3: Enter your mobile number for OTP verification.
  • Step 4: Fill in your personal details.
  • Step 5: Once your Loan application is accepted, visit our representative at the nearest dealership store. Locate store

What are the documents required for IDFC FIRST Bank Consumer Durable Loan?

The documents required to apply for IDFC FIRST Bank Consumer Durable Loan are:

  • ID Proof -  Aadhar Card / Driving License / Voter ID/Passport/PAN Card
  • Address Proof - Aadhar Card/Driving License/Voter ID/Passport/Rent Agreement/Latest Utility bills/Bank Passbook
  • Income Proof

What are the various charges incurred while taking a Consumer Durable Loan from IDFC FIRST Bank?

You might have to pay nominal processing fees, card fees, etc. depending on the product/ tenure/offer based on your eligibility criteria and offer on your loan.

Please note, Consumer Durable Loan availed for products such as mobile phone, Panel TV, Refrigerator, etc. are primarily subvented (interest amount discounted) by the manufacturers/dealers and hence the loan comes at a No Cost EMI scheme to the customers, with no additional interest to be paid above the agreed product price. 

For certain models/products which are non-subvented, customer can purchase the product but will have to bear the interest or processing fees, the details of which will be available at the time of availing the loan.

Click here to go through the Schedule of Charges.

What is the processing fee for IDFC FIRST Bank Consumer Durable Loan?

A processing fee is an administrative fee involved in the disbursement of a Consumer Durable Loan. It is charged basis the scheme selected. Our sales representative at the store can help you with additional information regarding processing fee applicable on your purchase.

How much financing does IDFC FIRST Bank Consumer Durable Loan offer?

The financing depends on the product selected, schemes available and the eligibility criteria. The IDFC FIRST Bank sales representative at the store can help you with the information.

How much of an EMI amount do I have to pay?

Your EMI depends on the loan amount, down payment and the tenure defined as per the scheme for the product you have purchased. The IDFC FIRST Bank sales representative at the store can help you with the information.

When will my EMI begin post disbursal of the loan?

Post disbursal of the loan, your EMI cycle will occur on 3rd of every month till loan closure.

You can easily access all your loan & EMI details, view and download Statement of Account, NOC, Repayment Schedule, etc. or make payments by downloading the IDFC FIRST Bank Mobile app. Click here to download the app.

Subject to Terms and Conditions.

Where can I view my IDFC FIRST Bank Consumer Durable Loan details?

You can view your Consumer Durable Loan details via:

  • The IDFC FIRST Bank Mobile app. Click here to download the app.
  • WhatsApp Banking - Send a ' Hi' on 95555 55555 to initiate

How can I get my Consumer Durable Loan Statement of Account/Welcome letter/Repayment Schedule/No Dues Certificate?

You can download your Statement of Account/Welcome letter/Repayment Schedule/No Dues Certificate via the below given modes: 

1. Website

  • Click on login on the top right corner & Login with your Registered Mobile number.
  • Select your loan from the ‘list of active loans’
  • Click on download 'Account statement' option. 

2. Mobile banking app

  • You can also view/download your Account Statement and other documents on the IDFC FIRST Bank Mobile app. Click here to download the app.

3. WhatsApp Banking

  • Send a ' Hi' on 95555 55555 to initiate

What is foreclosure and can I foreclose my Consumer Durable Loan?

Foreclosure/Prepayment of loan means early closure of your loan by making payment of the full loan amount before maturity of the loan.

Click here to foreclose your IDFC FIRST Bank Consumer Durable Loan.

Are there any foreclosure charges to foreclose the loan?

Yes. A foreclosure charge of 5% on the outstanding principal amount plus applicable GST will be levied for foreclosing your Consumer Durable Loan. Click here to know more about the charges.

Can I make a part payment of my IDFC FIRST Bank Consumer Durable Loan?

Unfortunately, you cannot make a part payment for your IDFC FIRST Bank Consumer Durable Loan.

Can I cancel my application after my Consumer Durable Loan has been approved?

Yes, you can cancel your application after your Consumer Durable Loan has been approved subject to receipt of cancellation request within 30 days or 1st EMI presentation date, whichever is earlier. In case of cancellation after these milestones, cancellation will be treated as foreclosure. 

To cancel your application, you can visit the dealership store from where you had applied for the loan and raise a request for loan cancellation. 

Are there any late payment charges ?

In case there is a delay in payment of your EMIs, you will be liable to pay a late fee (generally a fixed charge) along with the due EMI amount as per the terms and conditions of the Loan agreement. Click here to know more about the charges.

What does bounce charge mean and how much are the bounce charges?

A bounce charge is a penalty fee charged in case your EMI payment via cheque/NACH/ECS/SI etc. has got dishonoured due to any reason. Each bounce charge is a fixed charge of ₹400 + GST. Click here to know more about the charges.

What are the different EMI repayment methods?

Your EMIs will be auto-debited from your bank account on the due date through the NACH registered at the time of your loan application. 

You can also pay your EMIs via: 

You can also make your EMI payment by visiting the below link:-

https://partner.idfcfirstbank.com/QuickPayEMI/Login/LoginEMI.aspx

In case you have any query regarding repayment channels, you can call us at 1800 10 888 between 9:30am to 6:00pm on all working days except 2nd and 4th Saturday, Sundays and Bank holidays.

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