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?

The administrative fee/charges involved in the disbursement of a consumer durable loan are covered under processing fee.

What is late payment charges?

In case you are late in paying your EMIs, you have to pay these charges (generally a fixed charge) along with the due EMI amount. Please visit our website for more details

What is bounce charges?

Cheque bounce charges are payable in case you miss an EMI payment because the account linked to the post-dated cheque is either low on funds or has been closed. It is generally a fixed charge of around Rs. 500. Please visit our website for more details

Will I be charged penalty if I foreclose my consumer durable loan?

Yes. You would be charged penalty of 5% if pre-closing your consumer durable loan. Please visit our website for more details