In April itself, summer frowns look like May-June. Night curfew has been imposed in many cities, so sunny curfew is being imposed during the day.
Drying throat in this scorching heat, if you get a glass of fridge cold water and a little cold air of AC, what to say? Yes, you want a person to buy AC and fridge in summer, but many times your budget does not testify to buy it, but without taking out one rupee cash from pocket, you are going to use AC, fridge, cooler or home Other items can be purchased. Here we are telling you about 4 such options.
Pre-approved loan
Credit card issuing companies offer pre-approved loans to select card holders. This offer is given to those card holders who have a good record of bill payment. In this case, the loan comes to the account shortly after the application. The loan period can be from six months to 5 years. Interest rates can start from 15% depending on the term chosen and the person’s credit profile. Explain that this should be the last option for the buyer. The reason is that the loan cost is very high in this.
Consumer durable loan
Many companies making AC, fridges have tie-ups with banks and banks bring no-cost EMI options to customers. This facility is available when buying these items from offline store. Here you have to pay the original cost of the product in 6, nine or 12 months installments and do not have to pay any interest. Even some financing companies sometimes offer cash back. This happens when you buy consumer durables using their financing option. Explain that this scheme is suitable for those who do not have credit card.
Credit Card EMI
Many e-commerce websites, merchants, retailers etc. have partnered with credit card issuers. Under this, exclusive discount and EMI payment options are offered on credit card purchases. Many card issuing companies have tie-ups with merchants and manufacturers as well and card holders are offered no-cost EMIs. In this arrangement, the manufacturer bears the burden of interest. At the same time, the cardholder pays the purchase price as EMI. However, some credit card issuing firms and banks also offer additional discounts if they opt for no-cost EMI. If you want to get an AC fridge under it, then look at these options on the e-commerce website.
Personal loan
Personal loan is quite a popular option to buy consumer durables like AC fridge TV. The interest rates on personal loans range between 9 to 16 percent depending on the credit score, monthly income, company profile and job profile of the individual. One can easily take a personal loan up to Rs 20 lakh in the range of 1 lakh to 5 years. Some banks also allow 7 years for repaying personal loans.
