Consumer Durable Fees & Charges Related Customer Service FAQs

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Categories > Fees & Charges Related

How much charge does the consumer pay for availing a Consumer Durable Loan?

A consumer durable loan availed for products such as mobile phone, Panel TV, Refrigerator, etc. are primarily subvented by the manufacturers / OEMs / dealers and hence the loan comes at no cost EMI to the customers. However, the customer might have to pay some down payment, processing fees, etc. depending on the product/ tenure of the loan.

For certain models/ products which are non-subvented, customer can still avail the loan to finance the product. However, in such instances the customers have to bear interest or processing fees, the details of which are available at the time of availing the loan.

What is a processing Fee?

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.

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 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. Click here to know more about the charges.

Are there any foreclosure charges to foreclose the loan?

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