Consumer Durable Loans

Check out EMIs and interest outgo on loan taken to buy latest LED TVs

Check out EMIs and interest outgo on loan taken to buy latest LED TVs

Last Updated : March 17, 2017, 12:51 p.m.

It seems television makers have taken a leaf out of the car manufacturers' book by launching as many as 70 new models in 2016. Companies like LG, Panasonic, Croma, Sony, Intex and others have created a buzz in the television market space by launching various range of models suiting the tastes of different consumers. The prices of these televisions range from Rs 19,000 to around Rs 3 lacs. So, people with varied budgets can choose the televisions that are on offer. If you have the required cash, you can bring home your desired television by paying off its cost price. However, if you do not have much savings, you can opt for consumer durable loan to buy the television model you want to. You can avail the loan from banks and non-banking finance companies (NBFCs) for a period of 6 months-3 years at an interest rate of 12%-24% per annum. Lenders will decide the quantum of finance on your monthly income, repayment capacity, etc. Let's get down to what you will have to pay on owning these new televisions when you take the same on consumer durable loan, which is provided by financial institutions as part of their personal loan offerings.

LG 32LF561D 32 inch HD Ready LED TV

The 32-inch HD LED television, which comes with a resolution of 1366 x 768 pixels, is available at a price of Rs 25,000.

Table showing EMI, interest on consumer durable loan taken to buy LG 32LF561D 32 inch HD Ready LED TV (Assuming monthly income of Rs 15,000)

Bank/NBFC Name Estimated Loan Amount Eligibility Loan Tenure Interest Rate Processing Fee EMI Interest Payout Total Amount (Principal + Interest)
SBI Rs 22,500 3 years 12.6%-15.1% Rs.500 Rs.754-781 Rs.4,636-5,619 Rs.27,136-28,119
ICICI Bank Rs 22,500 3 years 13.49%-22% Rs.562.5 plus service tax as applicable Rs.763-859 Rs.4,984-8,434 Rs.27,484-30,934
Axis Bank Rs 23,750 3 years 15.5%-24% Rs.237.5 Rs.829-932 Rs.6,099-9,794 Rs.29,849-33,544
Tata Capital Rs 21,250 2 years 13.99%-17.5% Rs.106.25-478.13 Rs.1,020-1,056 Rs.3,234-4,088 Rs.24,484-25,338

LG 32LH604T 32 Inches LED TV

The 32-inch LED television offers resolution of 1920 x 1080 Pixels and is available at a price of around Rs 40,000.

Table showing EMI, interest on consumer durable loan taken to buy LG 32LH604T 32 Inches LED TV (Assuming monthly income of Rs 15,000)

Bank/NBFC Name Estimated Loan Amount Eligibility Loan Tenure Interest Rate Processing Fee EMI Interest Payout Total Amount (Principal + Interest)
SBI Rs.36,000 3 years 12.6%-15.1% Rs.500 Rs.1,206-1,250 Rs.7,418-8,990 Rs.43,418-44,990
ICICI Bank Rs.36,000 3 years 13.49%-22% Rs.900 plus service tax as applicable Rs.1,221-1,375 Rs.7,974-13,495 Rs.43,974-49,495
HDFC Bank Rs.38,000 3 years 16%-22% Rs.760 Rs.1,336-1,451 Rs.10,095-14,245 Rs.48,095-52,245
Axis Bank Rs.38,000 3 years 15.5%-24% Rs.380 Rs.1,327-1,491 Rs.9,758-15,671 Rs.47,758-53,671
Tata Capital Rs.34,000 2 years 13.99%-17.5% Rs.170-765 Rs.1,632-1,689 Rs.5,175-6,541 Rs.39,175-40,541

Croma CREL7322 42 Inches LED TV
The 42-inch LED television features display resolution of 1920 x 1080 pixels with 3 USB and HDMI ports. The price of the product comes out be approximately Rs 45,000.

Table showing EMI, interest on consumer durable loan taken to buy Croma CREL7322 42 Inches LED TV (Assuming monthly income of Rs 15,000)

Bank/NBFC Name Estimated Loan Amount Eligibility Loan Tenure Interest Rate Processing Fee EMI Interest Payout Total Amount (Principal + Interest)
SBI Rs.40,500 3 years 12.6%-15.1% Rs.500 Rs.1,357-1,406 Rs.8,345-10,113 Rs.48,845-50,613
ICICI Bank Rs.40,500 3 years 13.49%-22% Rs.1012.5 plus service tax as applicable Rs.1,374-1,547 Rs.8,971-15,182 Rs.49,471-55,682
HDFC Bank Rs.42,750 3 years 16%-22% Rs.855 Rs.1,503-1,633 Rs.11,357-16,025 Rs.54,107-58,775
Axis Bank Rs.42,750 3 years 15.5%-24% Rs.427.50 Rs.1,492-1,677 Rs.10,978-17,629 Rs.53,728-60,379
Tata Capital Rs.38250 2 years 13.99%-17.5% Rs.382.50 Rs.1,836-1,900 Rs.5,821-7,359 Rs.44,071-45,609

Panasonic TH 43DS630D 43 inch Smart Full HD LED TV
The 43-inch HD LED television features IPS LED LCD, adaptive backlight dimming and resolution of 1920 x 1080 pixels. Available with 3 HDMI and 2 USB ports, the product is available at a price of Rs 55,000.

Table showing EMI, interest on consumer durable loan taken to buy Panasonic TH 43DS630D 43 inch Smart Full HD LED TV (Assuming monthly income of Rs 15,000)

Bank/NBFC Name Estimated Loan Amount Eligibility Loan Tenure Interest Rate Processing Fee EMI Interest Payout Total Amount (Principal + Interest)
SBI Rs.49,500 3 years 12.6%-15.1% Rs.500 Rs.1,658-1,718 Rs.10,200-12,361 Rs.59,700-61,861
ICICI Bank Rs.49,500 3 years 13.49%-22% Rs.1,237.50 plus service tax as applicable Rs.1,680-1,890 Rs.10,964-18,555 Rs.60,464-68,055
HDFC Bank Rs.52,250 3 years 16%-22% Rs.1,045 Rs.1,837-1,995 Rs.13,880-19,586 Rs.66,130-71,836
Axis Bank Rs.52,250 3 years 15.5%-24% Rs.522.50 Rs.1,824-2,050 Rs.13,417-21,547 Rs.65,667-73,797
Tata Capital Rs.46,750 2 years 13.99%-17.5% Rs.233.75-1051.88 Rs.2,244-2,323 Rs.7,115-8,994 Rs.53,865-55,744

Panasonic TH-49DS630D 49 Smart LED TV

The 49-inch smart LED television offers resolution of 1920 x 1080 pixels and comes with 3 HDMI and 2 USB ports. The television is offered at a price of nearly Rs 80,000.

Table showing EMI, interest on consumer durable loan taken to buy Panasonic TH-49DS630D 49 Smart LED TV (Assuming monthly income of Rs 15,000)

Note- Loan amount eligibility, interest, EMI will differ on different income levels.

Bank/NBFC Name Estimated Loan Amount Eligibility Loan Tenure Interest Rate Processing Fee EMI Interest Payout Total Amount (Principal + Interest)
SBI Rs. 64,000 3 years 12.6%-15.1% Rs.646.40 Rs.2,144-2,222 Rs.13,188-15,982 Rs.77,188-79,982
ICICI Bank Rs 64,000 3 years 13.49%-22% Rs.1600 plus service tax as applicable Rs.2,172-2,444 Rs.14,176-23,991 Rs.78,176-87,991
HDFC Bank Rs.68,000 3 years 16%-22% Rs1,360 Rs.2,391-2,597 Rs.18,064-25,490 Rs.86,064-93,490
Axis Bank Rs68,000 3 years 15.5%-24% Rs.680 Rs.2,374-2,668 Rs.17,461-28,042 Rs.85,461-96,042
Tata Capital Rs.60,000 2 years 13.99%-17.5% Rs.300-1,350 Rs2,880-2,981 Rs.9,132-11,543 Rs.69,132-71,543

(Updated on:1 November,2016)

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