Consumer Durable Loan
Get digibank by DBS’ online Consumer Durable
Loans and enjoy express disbursals
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 digibank by DBS. Enjoy a paperless loan application process along with flexible repayment plans with our online Consumer Durable Loans.
digibank by DBS' Consumer Durable Loan
A type of Personal Loan, digibank by DBS' 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 digibank Savings Account within minutes.
- No restrictions on end-use: Use your digibank 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 digibank by DBS 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 digibank by DBS' 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 digibank by DBS Consumer Durable Loan Online?
- Download the digibank by DBS app on your phone by scanning the QR code on the website or from your phone's application store.
- Complete the e-KYC process to open a Savings Account.
- Go to the top-left corner of the app, and under 'Loans', select 'Personal Loans'.
- Click on Apply For New Loan > Get Started > Check Eligibility.
- Select your preferred EMI plan, attach scanned copies of documents and hit submit.
Do More, Live More with the Unbank
Open Instant digibank Savings Account in just a few minutes.
Download digibank.
Fill your details and complete KYC.
Activate your digibank savings account.
Frequently Asked Questions
What are the minimum and maximum loan amounts I can avail to purchase consumer goods?
At digibank by DBS, 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.
View Terms and Conditions
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