Check out EMIs and interest outgo on loan taken to buy latest LED TVs
Last Updated : Aug. 4, 2016, 6:59 a.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)