The demand for our short term needs never seem to end. Today, relax karne ke liye we need a big-screen LED TV for the upcoming Cricket World Cup, aur bacchon ko padhane ke liye, online tutorial service plays an important role. We do not normally plan such expenses, but inke saath, life becomes a bit easier. When we don’t want to utilise all our funds in these needs, Consumer Finance comes handy.
As its name suggests, we take Consumer Finance for the purchase of short-term consumer needs. Ek baar mein pay karne ke liye, you can take Consumer Finance at attractive interest rates instantly and pay your Equated Monthly Instalments (EMI or aasan monthly kisht) later.
The loan amount you can apply for could range from Rs 5000- Rs 2 lakh. Repayment duration generally 3-12 months mein hoti hai.
Choose your favourite product at a store or online and just get it!
The basic eligibility condition to apply for this type of loan is that apki age 21 aur 65 ke range mein honi chahiye. Documentations mostly online application form ke through hote hain. ID proof, Income proof and Residence proof are needed for loan approval.
Banks ask their customer to pay the finance amount in equated monthly instalments every month. Iske sath aapko interest bhi pay karna hota hai jo banks decide karte hai. Zyadatar interest 0% hoti hai.
After knowing the details of consumer finance, the obvious question now arises is, ‘I can buy the same product with credit card.’ Aap bilkul sahi hai! Lekin, consumer finance and credit cards mein thode differences hai like:
So, with consumer finance, you can easily buy your favourite LED TV and cheer for Team India, after all, “Teesra Cricket World Cup bhi toh jeetna hai!”
Learn more about consumer finance loan offered by AU Small Finance Bank
Know more about what is a debit card