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

Consumer Durable Loans

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 NameEstimated Loan Amount EligibilityLoan TenureInterest RateProcessing FeeEMIInterest PayoutTotal Amount (Principal + Interest)
SBIRs 22,5003 years12.6%-15.1%Rs.500Rs.754-781Rs.4,636-5,619Rs.27,136-28,119
ICICI BankRs 22,5003 years13.49%-22%Rs.562.5 plus service tax as applicableRs.763-859Rs.4,984-8,434Rs.27,484-30,934
Axis BankRs 23,7503 years15.5%-24%Rs.237.5Rs.829-932Rs.6,099-9,794Rs.29,849-33,544
Tata CapitalRs 21,2502 years13.99%-17.5%Rs.106.25-478.13Rs.1,020-1,056Rs.3,234-4,088Rs.24,484-25,338
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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 NameEstimated Loan Amount EligibilityLoan TenureInterest RateProcessing FeeEMIInterest PayoutTotal Amount (Principal + Interest)
SBIRs.36,0003 years12.6%-15.1%Rs.500Rs.1,206-1,250Rs.7,418-8,990Rs.43,418-44,990
ICICI BankRs.36,0003 years13.49%-22%Rs.900 plus service tax as applicableRs.1,221-1,375Rs.7,974-13,495Rs.43,974-49,495
HDFC BankRs.38,0003 years16%-22%Rs.760Rs.1,336-1,451Rs.10,095-14,245Rs.48,095-52,245
Axis BankRs.38,0003 years15.5%-24%Rs.380Rs.1,327-1,491Rs.9,758-15,671Rs.47,758-53,671
Tata CapitalRs.34,0002 years13.99%-17.5%Rs.170-765Rs.1,632-1,689Rs.5,175-6,541Rs.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 NameEstimated Loan Amount EligibilityLoan TenureInterest RateProcessing FeeEMIInterest PayoutTotal Amount (Principal + Interest)
SBI Rs.40,5003 years12.6%-15.1%Rs.500Rs.1,357-1,406Rs.8,345-10,113Rs.48,845-50,613
ICICI Bank Rs.40,5003 years13.49%-22%Rs.1012.5 plus service tax as applicableRs.1,374-1,547Rs.8,971-15,182Rs.49,471-55,682
HDFC BankRs.42,7503 years16%-22%Rs.855Rs.1,503-1,633Rs.11,357-16,025Rs.54,107-58,775
Axis BankRs.42,7503 years15.5%-24%Rs.427.50Rs.1,492-1,677Rs.10,978-17,629Rs.53,728-60,379
Tata CapitalRs.382502 years13.99%-17.5%Rs.382.50Rs.1,836-1,900Rs.5,821-7,359Rs.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.

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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 NameEstimated Loan Amount EligibilityLoan TenureInterest RateProcessing FeeEMIInterest PayoutTotal Amount (Principal + Interest)
SBIRs.49,5003 years12.6%-15.1%Rs.500Rs.1,658-1,718Rs.10,200-12,361Rs.59,700-61,861
ICICI BankRs.49,5003 years13.49%-22%Rs.1,237.50 plus service tax as applicableRs.1,680-1,890Rs.10,964-18,555Rs.60,464-68,055
HDFC BankRs.52,2503 years16%-22%Rs.1,045Rs.1,837-1,995Rs.13,880-19,586Rs.66,130-71,836
Axis BankRs.52,2503 years15.5%-24%Rs.522.50Rs.1,824-2,050Rs.13,417-21,547Rs.65,667-73,797
Tata CapitalRs.46,7502 years13.99%-17.5%Rs.233.75-1051.88Rs.2,244-2,323Rs.7,115-8,994Rs.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 NameEstimated Loan Amount EligibilityLoan TenureInterest RateProcessing FeeEMIInterest PayoutTotal Amount (Principal + Interest)
SBIRs. 64,0003 years12.6%-15.1%Rs.646.40Rs.2,144-2,222Rs.13,188-15,982Rs.77,188-79,982
ICICI BankRs 64,0003 years13.49%-22%Rs.1600 plus service tax as applicableRs.2,172-2,444Rs.14,176-23,991Rs.78,176-87,991
HDFC BankRs.68,0003 years16%-22%Rs1,360Rs.2,391-2,597Rs.18,064-25,490Rs.86,064-93,490
Axis BankRs68,0003 years15.5%-24%Rs.680Rs.2,374-2,668Rs.17,461-28,042Rs.85,461-96,042
Tata CapitalRs.60,0002 years13.99%-17.5%Rs.300-1,350Rs2,880-2,981Rs.9,132-11,543Rs.69,132-71,543

(Updated on:1 November,2016)