Summer is here, and temperatures are soaring! As the days get hotter, upgrading your home with the right cooling appliances becomes a priority. But what if you don't want to pay for these upgrades upfront? Consumer Durables Loans are a practical and easy way to purchase essential household items immediately and repay conveniently over a fixed period.

Whether you're dreaming of buying a new split air conditioner, or giving your kitchen a stylish makeover with a sleek three-door refrigerator, these loans make it simple and affordable.

What are the benefits of buying consumer durables using loans?

Buying new cooling appliances can be expensive, especially if you prefer the latest technology and energy-efficient options. Choosing consumer durables loans provides you with a smarter, budget-friendly way to upgrade your home and beat the summer heat without financial worry.

These loans offer an easy solution, making these purchases affordable for everyone. Here are some of the key benefits:

• Immediate Purchase, Easy Payments: Instantly bring home your AC, refrigerator, or cooler without full upfront payment, and repay comfortably through manageable EMIs.
• Flexible and Affordable: Choose a repayment tenure suited to your budget, making high-quality appliances accessible to everyone.
• Enhanced Purchasing Power: Invest in superior, energy-efficient appliances from top brands, ensuring long-term savings on bills and maintenance.
• Attractive Offers and Discounts: Benefit from seasonal discounts, cashback, and reduced interest rates, making your summer upgrade even more cost-effective.

Top Cooling Appliances to Consider for Summer

Indian summers are scorching and it’s necessary to have reliable cooling appliances at home. Here are some popular options that will help you comfortably get through the scorching months ahead. Here are the top 5 cooling appliances that you should consider investing in to stay cool and comfortable this summer:

LG 1.5 Ton 5 Star Dual Inverter Split AC

Features:

• Dual Inverter Technology: Ensures faster cooling and energy efficiency.
• Smart Diagnosis: Allows easy troubleshooting through a smartphone app.
• Ocean Black Fin: Provides protection against dust, smoke, and chemicals, enhancing durability.
• Approximate Cost: ₹45,490

Daikin 1.5 Ton 5 Star Inverter Split AC

Features:

• Neo Swing Compressor: Reduces friction and vibration, ensuring quiet and efficient operation.
• Econo Mode: Limits power consumption, making it ideal for efficient cooling.
• Coanda Airflow: Distributes air evenly, avoiding direct airflow to occupants.
• Approximate Cost: ₹41,990

Voltas 1.5 Ton 3 Star Inverter Split AC

Features:

• High Ambient Cooling: Maintains comfortable temperatures even at 50°C.
• Advanced Air Purification: Provides cleaner air by removing harmful particles.
• Stabilizer-Free Operation: Protects the AC from voltage fluctuations.
• Approximate Cost: ₹33,990

Panasonic 1.5 Ton 5 Star Wi-Fi Inverter Smart Split AC

Features:

• Wi-Fi Connectivity: Allows control through a smartphone app.
• Twin Cool Inverter: Ensures faster cooling and energy efficiency.
• Shield Blu Technology: Enhances durability by protecting against corrosion.
• Approximate Cost: ₹43,990

Symphony Sumo 75 XL Desert Air Cooler

Features:

• Large 75L Water Tank: Provides extended cooling without frequent refills.
• Powerful Fan: Ensures strong air delivery suitable for large rooms.
• i-Pure Technology: Incorporates multistage air purification filters.
• Approximate Cost: ₹13,000

* Please note that prices are approximate and may vary based on location and retailer. It's advisable to check the latest prices and availability before making a purchase.

Financing Your Summer Upgrades with Consumer Durable Loans

While buying new appliances to keep your home cool can get expensive, but luckily there are easy loan options available. Here’s a simple guide to two popular financing solutions—Consumer Durables Loans and Personal Loans—that make upgrading your home affordable.

Consumer Durables Loans

These loans are specifically designed for buying appliances and electronic gadgets. They’re simple, quick, and affordable.

• Easy EMI Options: Payments are split into manageable monthly installments, making expensive items easy to afford without paying the full amount upfront.
• Minimal Documentation: Applying for these loans is hassle-free, usually requiring basic documents like ID proof, address proof, and income details.
• Instant Approval: Banks and lenders often approve these loans within hours, allowing you to quickly buy and start using your new appliance.

Choosing the right financing option means enjoying a cooler summer without financial worries. Here are some quick tips to help you pick the best loan for your summer upgrades:

• Evaluate Interest Rates and EMI Affordability: Compare interest rates from multiple lenders and choose an EMI that comfortably fits your monthly budget.
• Understand Terms and Conditions: Read loan documents carefully to avoid hidden charges or penalties later on.
• Check Prepayment and Foreclosure Charges: Find out if there are extra fees for paying off your loan early. Choosing loans without heavy charges can save money in the long run.
• Utilize Online Loan Calculators: Use online EMI calculators provided by banks or financial websites to plan your budget better and make informed decisions.

While these appliances will bring a much-needed relief during summer, they can be expensive. You can opt for a consumer durables loan without straining your budget. HDB Financial Services offer up to 100% funding, low down payments, affordable EMIs, and flexible repayment tenure. Click here to Apply