Explore catalogue loan products, compare planning estimates and read lender-linked reviews. Rates, eligibility and conditions need checking with each lender.
No verification date is recorded for this catalogue. These are planning examples, not confirmed current offers. Check lender sources and product limits before deciding.
2 Catalogue products · Sorted by catalogue starting rate
| Bank and product | Interest Rate | Benchmark spread | Maximum term | Processing fee | Actions |
|---|---|---|---|---|---|
DMI Finance | 13.00% - 22.00% p.a. on reducing | Fixed Rate | 3 years (36 months) | 2% (cap ₹2,500) + 18% GST | |
TVS Credit Services | 14.00% - 20.00% p.a. on reducing | Fixed Rate | 2 years (24 months) | ₹750 + 18% GST |
Consumer durable loans are short-tenure (3 to 24 months) point-of-sale credit facilities. When marketed as "Zero Cost EMI", the merchant or manufacturer pays a subsidy (subvention) to the financier. However, lenders often charge an upfront processing fee plus 18% GST which turns a nominal 0% deal into an effective 2% to 6% annualized borrowing cost.
Under RBI Digital Lending Directives, retail consumer borrowers enjoy clear look-up cancellation windows and full fee transparency. Most digital consumer durable loans allow complete foreclosure without early exit penalties.
Consumer durable loans taken for personal household electronics are non-deductible for personal income tax. For registered GST business owners, financing office computing hardware or air conditioning enables depreciation benefits and input tax credit (ITC) offsets.
Under RBI Master Directions, individual retail borrowers paying floating interest rates on home, auto, and personal credit lines are legally protected against any foreclosure or prepayment penalty.
Commercial banks must price retail credit off external benchmarks like the RBI Repo Rate (EBLR). Spread adjustments are strictly governed and cannot be arbitrary during the loan tenure.
CredSutra factors in Day-1 upfront cash outlays, including processing charges, 18% GST, and valuation fees alongside lifetime compounding interest for 100% objective cost discovery.
No verification date is recorded for this catalogue. These are planning examples, not confirmed current offers. Check lender sources and product limits before deciding.