Bring home these power saver air conditioners via consumer durable loan
Last Updated : July 11, 2016, 12:13 p.m.
In the sultry hot summer, it gets taxing for the body on account of recurrent perspiration and the discomfort that it brings. Suddenly, the focus shifts to air conditioners that can cool things down and provide the comfort you need after getting battered by the hot weather. But on the flip side is the soaring electricity bills that can result due to the operation of the air conditioner. You can choose from a series of air conditioners in the market. But not many can offer low power consumption, which is key to the reduction in electricity bill. So, we have listed out some power-saver air conditioners that you can buy. If you have the cash of say Rs 35,000-70,000, you can buy the top rated power saver air conditioner. Else, you will have to take consumer durable loan to bring home these air conditioners.
Yes, you can take consumer durable loan from banks as well as non-banking finance companies (NBFCs) to buy products like refrigerator, washing machine, air conditioner, laptop, music system, health equipment system, recliner, etc. You can get the finance upto 80-100% of the price of the product for a period of 6 months-3 years. The loan amount eligibility is based on your monthly income, repayment capacity, savings, etc.
So, without much ado, let's get down to the power-saver air conditioners and their ownership on consumer durable loan.
Hitachi KASHIKOI 5300I (RAU512IWEA)
The 1-tonne, 5-star rated split air conditioner has a power consumption of 492 KWH for 1600 hours. The price of the AC is Rs 53,800.
Table showing the EMI and interest on loan taken to buy Hitachi KASHIKOI 5300I (RAU512IWEA) (Assuming the monthly income to be Rs 15,000)
| Bank Name | Loan Amount | Max Loan Tenure | Interest Rate | Processing Fee | EMI | Interest Payout | Total Amount (Principal + Interest) |
|---|---|---|---|---|---|---|---|
| SBI | Rs 48,420 | 3 | 12.6%-15.1% | Rs 500 | Rs.1,622-1,681 | Rs9,977-12,091 | Rs58,397-60,511 |
| ICICI | Rs 53,800 | 3 | 11.49%-22% | Rs 1,345 | Rs1,774-2,055 | Rs10,059-20,167 | Rs63,859-73,967 |
| HDFC Bank | Rs 53,800 | 3 | 16%-20% | Rs 1,076 | Rs1,891-1,999 | Rs14,292-18,178 | Rs68,092-71,978 |
| Axis Bank | Rs 53,800 | 3 | 15.5%-24% | Rs 538 | Rs1,878-2,111 | Rs13,815-22,186 | Rs67,615-75,986 |
Godrej GSC 12 GIG 5 DGOG
The 1-tonne, 5 star rated AC is next in the line with a power consumption of 511 KWH for 1600 hours. The AC is available at a price of Rs 57,500.
Table showing the EMI and interest on loan taken to buy Godrej GSC 12 GIG 5 DGOG (Assuming the monthly income to be Rs 15,000)
| Bank Name | Loan Amount | Max Loan Tenure | Interest Rate | Processing Fee | EMI | Interest Payout | Total Amount (Principal + Interest) |
|---|---|---|---|---|---|---|---|
| SBI | Rs 51,750 | 3 | 12.6%-15.1% | Rs 523 | Rs 1,734-1,796 | Rs 10,663-12,923 | Rs 62,413-64,673 |
| ICICI | Rs 57,500 | 3 | 11.49%-22% | Rs 1,438 | Rs 1,896-2,196 | Rs 10,750-21,554 | Rs 68,250-79,054 |
| HDFC Bank | Rs 57,500 | 3 | 16%-20% | Rs 1,150 | Rs 2,022-2,137 | Rs 15,275-19,429 | Rs 72,775-76,929 |
| Axis Bank | Rs 57,500 | 3 | 15.5%-24% | Rs 575 | Rs 2,007-2,256 | Rs 14,765-23,712 | Rs 72,265-81,212 |
Hitachi KASHIKOI 5200I (RAU512AWEA)
The 1-tonne, 5-star rated split air conditioner offers 560 KWH power consumption for 1600 hours. You can get the product with a price of Rs 51,000.
Table showing the EMI and interest on loan taken to buy Hitachi KASHIKOI 5200I (RAU512AWEA) (Assuming the monthly income to be Rs 15,000)
| Bank Name | Loan Amount | Max Loan Tenure | Interest Rate | Processing Fee | EMI | Interest Payout | Total Amount (Principal + Interest) |
|---|---|---|---|---|---|---|---|
| SBI | Rs 45,900 | 3 | 12.6%-15.1% | Rs 464 | Rs 1,538-1,593 | Rs 9,458-11,462 | Rs 55,358-57,362 |
| ICICI | Rs 51,000 | 3 | 11.49%-22% | Rs 1,275 | Rs 1,682-1,948 | Rs 9,535-19,118 | Rs 60,535-70,118 |
| HDFC Bank | Rs 51,000 | 3 | 16%-20% | Rs 1,020 | Rs 1,793-1,895 | Rs 13,548-17,232 | Rs 64,548-68,232 |
| Axis Bank | Rs 51,000 | 3 | 15.5%-24% | Rs 510 | Rs 1,780-2,001 | Rs 13,096-21,032 | Rs 64,096-72,032 |
LG BSA12MAYD
The 4-star rated, split air conditioner comes with a power consumption of 648 KWH for 1600 hours. The cost of the product is Rs 45,000.
Table showing the EMI and interest on loan taken to buy LG BSA12MAYD (Assuming the monthly income to be Rs 15,000)
Note-EMIs, interest, loan amount will vary on different income levels.
| Bank Name | Loan Amount | Max Loan Tenure | Interest Rate | Processing Fee | EMI | Interest Payout | Total Amount (Principal + Interest) |
|---|---|---|---|---|---|---|---|
| SBI | Rs 40,500 | 3 | 12.6%-15.1% | Rs 409 | Rs 1,357-1,406 | Rs 8,345-10,113 | Rs 48,845-50,613 |
| ICICI | Rs 45,000 | 3 | 11.49%-22% | Rs 1,125 | Rs 1,484-1,719 | Rs 8,413-16,869 | Rs 53,413-61,869 |
| HDFC Bank | Rs 45,000 | 3 | 16%-20% | Rs 900 | Rs 1,582-1,672 | Rs 11,954-15,205 | Rs 56,954-60,205 |
| Axis Bank | Rs 45,000 | 3 | 15.5%-24% | Rs 500 | Rs 1,571-1,765 | Rs 11,555-18,557 | Rs 56,555-63,557 |
(Updated on:3 November,2016)