Ownership cost of 5 refrigerators on consumer durable loan

Life is getting easier these days when you talk about the consumer durable space. There were days when we couldn’t think of buying the product without paying its whole price upfront. But in today’s times of growing customerisation, banks and non-banking finance companies (NBFCs) have catered in to the requirements of customers by offering them suitable finances for the durable goods. All you have to do is to choose a loan offering that fits into your pocket.

Consumer durable loan can be availed for buying laptops, washing machine, mobile phones, refrigerators, camera, LED television, etc. Depending upon your monthly income and your repayment capacity, you can get loan upto 80%-100% of the cost price of the durable products for a period of 1-3 years. The loan amount eligibility differs from individual to individual and lender to lender. You have a series of lenders like State Bank of India, HDFC Bank, Bajaj Finserv, Kotak Bank and others to choose from. We, in this article, will pick five refrigerators that cost in the range of Rs 50,000-80,000. Also, we will check the liability that you will have on the ownership of those refrigerators if  wish to buy them on loan.

Refrigerators

1 Samsung RS21HSTPN1/XTL

The 5-star rated refrigerator, with a capacity of 600 litres, has two side-by-side doors. The frost-free refrigerator, which comes with a size of 912x789x734 mm, costs Rs 70,000.

Table showing interest, EMIs on loan to buy Samsung RS21HSTPN1/XTL Refrigerator on minimum monthly income of Rs 15,000

Read to know more about Axis Bank Personal loan

2 Samsung RT47H567ESL Double-door Refrigerator

The 4-star rated Samsung RT47H567ESL Double-door Refrigerator comes with a size of 700 x 1785 x 776 mm. The frost-free refrigerator, with a capacity of 462 litre, is offered at a price of Rs 54,100.

 Table showing interest, EMIs on loan to buy Samsung RT47H567ESL Double-door Refrigerator on minimum monthly income of Rs 15,000

Bank NameLoan AmountTenureInterest RateEMIInterest PayoutTotal Payout (Principal+Interest)
HDFC BankRs 54,1003 years16%-20%Rs 1,902-2,011Rs 14,372-18,280Rs 68,472-72,380
SBIRs 45,9853 years12.60% - 15.10%Rs 1,541-1,596Rs 9,476-11,483Rs 55,461-57,468
Axis BankRs 45,9853 years11.50%-24%Rs 1,516-1,804Rs 8,605-18,963Rs 54,590-64,948

3 Hitachi R-V660PND3KX Refrigerator

The 4-star rated refrigerator has two doors and come in a size of 855 x 1835 x 745 mm. The cost price of this frost-free refrigerator is Rs 76,000.

Table showing interest, EMIs on loan to buy Hitachi R-V660PND3KX Refrigerator on minimum monthly income of Rs 15,000

Bank NameLoan AmountTenureInterest RateEMIInterest PayoutTotal Payout (Principal+Interest)
HDFC BankRs 76,0003 years16%-20%Rs 2,672-2,824Rs 20,190-25,680Rs 96,190-1,01,680
SBIRs 64,6003 years12.60% - 15.10%Rs 2,164-2,243Rs 13,311-16,132Rs 77,911-80,732
Axis BankRs 64,6003 years11.50%-24%Rs 2,130-2,534Rs 12,089-26,640Rs 76,689-91,240

 4 LG GC-B207GPQV Refrigerator

The 2-door, 4-star rated LG GC-B207GPQV refrigerator is available in a size of 894 x 1753 x 731 mm. The frost-free refrigerator is offered at a price of Rs 73,000.

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Table showing interest, EMIs on loan to buy LG GC-B207GPQV Refrigerator on minimum monthly income of Rs 15,000

Bank NameLoan AmountTenureInterest RateEMIInterest PayoutTotal Payout (Principal+Interest)
HDFC BankRs 73,0003 years16%-20%Rs 2,566-2,713Rs 19,393-24,666Rs 92,393-97,666
SBIRs 62,0503 years12.60% - 15.10%Rs 2,079-2,154Rs 12,786-15,495Rs 74,836-77,545
Axis BankRs 62,0503 years11.50%-24%Rs 2,046-2,434Rs 11,612-25,588Rs 73,662-87,638

So, you have got the details of EMIs and interest that you will have to pay while taking loan to buy these four refrigerators. See your repayment capacity and choose the suitable loan option.

(Updated on:7 November,2016)

Personal Loan Interest Rates March 2024
HDFC Bank10.75% - 14.50%
ICICI Bank10.75% - 19.00%
IndusInd Bank10.25% - 26.00%
Kotak Bank10.99%
RBL14.00% - 23.00%
SMFG India Credit12.00% - 24.00%
Standard Chartered Bank11.49%
Tata Capital10.50% - 24.00%
Home Loan Interest Rates March 2024
Axis Bank8.75% - 9.15%
Bank of Baroda8.50% - 10.60%
Citibank8.75% - 9.15%
HDFC8.50% - 9.40%
ICICI Bank9.00% - 9.85%
Indiabulls Housing Finance Limited8.65%
Kotak Bank8.70%
LIC Housing8.50% - 10.50%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance8.50% - 10.95%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI9.10% - 9.65%
Tata Capital8.95% - 12.00%
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