Consumer Durable Loan

At a Glance

Do you want to buy the latest refrigerator or washing machine? Are you looking to upgrade your old appliances or need funds to set up your home in a new city? If you are, your search for funds ends with DBS Bank. Enjoy a paperless loan application process along with flexible repayment plans with our online Consumer Durable Loans.

DBS Bank Consumer Durable Loan

A type of Personal Loan, DBS Bank Consumer Durable Loan enables you to purchase a wide range of household appliances from refrigerators and air-conditioners to television sets, furniture, and more. You can avail of this unsecured loan without pledging any collateral and get speedy fund disbursals directly into your account.

Features & Benefits

  • Affordable interest rates: Enjoy competitive interest rates starting from 10.99% on your Consumer Durable Loan online.
  • Longer repayment tenure: Our extensive loan repayment tenure of 12 to 60 months means that you can repay your loan comfortably.
  • Pocket-friendly EMIs: You can use our Personal Loan EMI calculator to arrive at an appropriate EMI amount to suit your monthly budget.
  • Hassle-free Documentation: Complete the entire loan application process through our website by submitting scanned copies of your documents and also complete the e-KYC process online.
  • Instant approval and disbursal: Get funds credited into your account within 4-48 hours. Preapproved customers can get disbursals into their DBS Bank Savings Account within minutes.
  • No restrictions on end-use: Use your DBS Bank Consumer Durable Loan to purchase any home appliances, durable items or furniture of your choice without worrying about any end-use restrictions on the loan amount.

Personal Loan Eligibility Criteria

You can get a Consumer Durable Loan from DBS Bank upon fulfilling the following criteria:

  • Age Group: 22 years to 60 years
  • Nationality: Resident and Non-Resident Indians
  • Applicants: Salaried or self-employed applicants
  • Minimum Net Monthly Income: INR 20,000
  • Credit Score: Above 650 points

Documents Required

Submit scanned copies of the following documents with your DBS Bank online Personal Loan application.

  • ID Proof: Aadhaar, PAN, Driving License, Voter ID, Passport, etc.
  • Address Proof: Aadhaar, Driving License, Voter ID, Passport, Rent Agreement, Latest Utility Bills, Bank Passbook, etc.
  • Income Proof: Last 3 salary slips, 3 months bank statements

*Income Proof documents to be submitted only upon the bank's request and based on the loan amount.

How to Apply for DBS Bank Consumer Durable Loan Online?

  1. Download the DBS Bank app on your phone by scanning the QR code on the website or from your phone's application store.
  2. Complete the e-KYC process to open a Savings Account.
  3. Go to the top-left corner of the app, and under 'Loans', select 'Personal Loans'.
  4. Click on Apply For New Loan > Get Started > Check Eligibility.
  5. Select your preferred EMI plan, attach scanned copies of documents and hit submit.

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Frequently Asked Questions

What are the minimum and maximum loan amounts I can avail to purchase consumer goods?

At DBS Bank, we offer consumer durable loans starting at INR 25,000, with  INR 15 Lakhs being the maximum loan amount.

I am not eligible for the loan amount due to a low credit score. What can I do?

You can consider applying for the loan jointly with another co-applicant with a high credit score. Doing so can increase your loan eligibility.

Can I cancel the loan after getting the funds sanctioned?

Yes, you can utilise the free-look facility and cancel the Consumer Durables Loan provided you do so within 48 hours of loan disbursement. However, you must forfeit the loan processing fee.

**All loans will be given out at the sole discretion of DBS Bank India Limited.

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