Apply for Consumer Durable Loan in HDFC Bank

Bank Loan  Updated date : December 6, 2017 12

Apply for our consumer durable loans to fund your purchase of household electronic goods, from refrigerators to recliners.

With up to 100% financing and quick approval of consumer durable loans, enjoy a hassle-free process when you apply for our consumer durable loan.

In addition, our low EMIs and attractive interest rates make our consumer durable loans affordable and easy to repay.

With HDFC Bank's Consumer Durable Loan, you can add luxury to your life without putting a strain on your finances. Avail of this instalment loan to pay for any consumer durable product of your choice, and pay us back in easy EMIs.

✔ Up to 100% Finance
✔ Low EMIs
✔ Complete Transparency
✔ Wide Range of Product Categories

Consumer Durable Loan Features

HDFC Bank offers a range of features on consumer durable loans, such as 100% finance or `15 lakhs.

Additional features of our consumer durable loans include nominal processing fee, and complete transparency in rates and charges on your consumer durable loan.

While there are several benefits of consumer durable loans, the key benefit we offer is the wide range of electronic devices that can be purchase from your consumer durable loan. You can use the funds from our consumer durable loan to buy anything from air conditioners to laptops.

  • Maximum Possible Finance
    Get up to 100% finance, or Rs. 15 lakhs, without having your credit card limit blocked.
  • Low Interest Rates
    With competitive interest rates, you can easily repay your loan in low EMIs, over a tenor of your choice up to 36 months.
  • Nominal Processing Fee
    With Minimal Margin Money and a nominal processing fee, our HDFC Bank Consumer Durable Loan is easily affordable.
  • Wide Range of Product Categories to Choose From
    You can use the money from the loan to purchase any of the following:
    • LED Televisions
    • Refrigerators
    • Washing Machine
    • Laptops and Ultra Books
    • Air Conditioners
    • High End Audio and Home Theatre Systems
    • Recliners
    • Tablets
    • Modular Kitchen
    • High End Camera and Lenses
    • Mobile Phones
  • Complete Transparency
    All our loan rates and charges are communicated up front in writing, along with the quotation, so you don't have to worry about any hidden costs or fees.
  • Available in Wide Range of Cities
    You can avail of our Consumer Durable Loan in any of the following cities:
    • Mumbai
    • Delhi
    • Bengaluru
    • Chennai
    • Pune
    • Hyderabad
    • Jaipur
    • Chandigarh
    • Cochin
    • Ahmedabad
    • Kolkata

Consumer Durable Loan Eligibility Criteria

The eligibility criteria for consumer durable loans depends on the borrower’s profile. Below is the complete list of HDFC Bank’s eligibility criteria for consumer durable loans.

Individuals who meet the following criteria are eligible for an HDFC Bank Consumer Durable Loan

ConditionCredit Criteria
Minimum AgeSalaried – 21 years
Self Employed – 26 years
Maximum Age (at the time of loan closure)Salaried – 60 years
Self Employed – 65 years
Minimum IncomeHDFC Bank Salary Account Customers – Rs. 15,000*
Others – Rs. 18,000
Self Employed – ITR of Rs. 1.5 lakhs
Tenure12-36 months (depending on product type)
Minimum Loan AmountRs. 40,000
Maximum Loan AmountDurables: Rs. 5,00,000
LSP: Rs. 15,00,000

Consumer Durable Loan Documentation

The documents for consumer durable loans will depend on whether you are salaried or self-employed. Here is a list of required documents for consumer durable loans.

The following documents are required along with your loan application:

SalariedSelf Employed
Latest photoPrevious 2 years ITRs with statement of computation of income
Residence address proofC.A. certified or audited Profit & Loss Account statement
Identity and signature proofBalance sheet of previous 2 years
Latest salary slipBank state of previous 6 months
Previous three months bank statement 

Consumer Durable Loan Rates & Fees

HDFC Bank offers competitive interest rates on consumer durable loans. Read more about consumer durable loan interest rates and consumer durable loan fees and charges below.

The HDFC Bank Consumer Durable Loan Rates & Fees are as follows:

FeeAmount to be Paid
Rack interest rateSalaried - 16.00% to 20%
Self-employed businessman - 18.00% to 22.00%
Self-employed profession - 14.50 to 18.00%
Loan processing chargesUp to 2% of the loan amount subject to a minimum of Rs. 500/- & Maximum of Rs. 25000/- for Salaried Customers and Rs. 75000/- for Self Employed Customers.
PrepaymentNo pre-payment permitted until repayment of 6 EMIs
Pre-payment charges07-24 Months - 4% of Principal Outstanding
25-36 Months - 3% of Principal Outstanding
>36 Months - 2% of Principal Outstanding
Part Pre-paymentNot permitted.
No Due Certificate/No Objection Certificate (NOC)NIL
Duplicate of No Dues Certificate/NOCNIL
Solvency CertificateNot applicable
Charges for late payment of EMI24% per annum on amount outstanding from date of default
Charges for changing from fixed to floating rate of interestNot applicable
Charges for changing from floating to fixed rate of interestNot applicable
Stamp duty & other statutory chargesAs per applicable laws of the state
Credit assessment chargesNot applicable
Non standard repayment chargesNot applicable
Cheque swapping chargesRs 500/-
Loan cancellation chargesNIL (However client would be charged interest for the interim period between date of loan disbursement and loan cancellation and processing fees would be retained.)
Cheque bounce chargesRs. 550/- per cheque bounce
Legal/incidental chargesAt actual
CIBIL Report Copy ChargesRs.50 per copy
Amortization Schedule chargesRs 200/-

Rates offered to customer during the period of January'16 to March'16

IRRQ IV (2015-16)
Min IRR14.94%
Max IRR18.01%
Avg IRR15.58%

Annual Percentage Rate offered to customer during the period of January'16 to March'16

APRQ IV (2015-16)
Min APR14.94%
Max APR18.88%
Avg APR15.76%

*Service Tax and other Government taxes, levies etc. applicable as per prevailing rate will be charged over and above the Fees and Charges

Loan at the sole discretion of HDFC Bank Ltd.

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