Bring Home an Air Conditioner this Summer – Benefits of Buying AC on EMI

With summer season in full swing, it is the need of the hour to cool down. The best way to beat the heat during this sweltering summer is to cool down your home with an air conditioner. While a lot of us would want to purchase an AC to stave off the heat, we would prefer not to pay the money upfront, one solution for this would be to pay in easy instalments and buy the AC on EMI.

In this blog post, we will delve into the benefits of purchasing an AC on EMI and how it can enable you to enjoy a cooler environment without straining your finances!

Buy an AC on EMI: The Optimal Approach for Your Needs

When you want to finance your AC, you can opt to go for EMIs on a Credit Card or buy AC on EMI without a Credit card by availing a Consumer Durable Loan.

Credit Cards may not be a viable option for everyone; however, anyone can apply for a Consumer Durable Loan, regardless of one’s credit history.

Banks and NBFCs like ours, TVS Credit, offer Consumer Durable Loans at minimum interest rates.

With us, you can avail up to 100% finance via our zero down payment Loans. This applies even for first-time borrowers without a credit history.

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Steps to Buy AC on EMI:

AC finance processes are now very user-friendly, with clearly laid down steps for the consumer’s easy access.

Let us break this down in detail below:

• • Create a checklist of requirements:

    Start by recognising your cooling requirements. This can entail zeroing in on the AC type such as Split AC, Window AC, Inverter, or non-inverter AC etc. as well as capacity depending on the space, energy efficiency (star rating) etc.

  • Pick an AC model:

    Once you have a clear picture of your needs, narrow your choices down to AC models that fit them. Analyse the features, price range, customer satisfaction ratings, etc. to make an informed decision.

  • Choose your Financial Institution:

    To execute your EMI plan, you must pick a financial institution. Weigh the EMI plans, interest rates, tenure, and terms and conditions of the loan provided by various lenders before arriving at a conclusion.

    TVS Credit can prove to be a solid choice as you can pay your EMIs with no additional charges on Loan amounts ranging from ₹10,000 to ₹1.5 lakhs* and flexible repayments spread across 6 to 24 months*.

  • Qualify for EMI:

    Once you have an AC model and the financial institution in mind, apply for EMI. Depending on the lender, this requires you to fill out an online application form linked to the lender’s website or apply in person to qualify for the EMI.

  • Get your documents in order:

    Certain documents will be needed by the institution for verification purposes. This includes ID proof (Aadhaar card, PAN card, Driver’s license etc.), proof of residence (Rental agreement, Utility bills etc.), and Income proof (Bank statements, Salary slips, etc.)

  • Await application results:

    Financial Institutions will review your application after you hand in the application form and the required documents. The approval process waiting time might range from a few hours to a few days.

  • Make the AC purchase:

    After your EMI application is reviewed and receives approval, the funds requested to purchase the chosen AC model are either directly transferred to the retailer or reimbursed, depending on the lender’s process.

  • Make the EMI payments:

    You can now proceed to clear the EMI amounts per the agreed-upon schedule. Mostly this is a fixed amount that is due to be paid each month, allowing for effective fiscal management..

Benefits of buying an AC on EMI:

Benefits of buying an AC on EMI:

• • • Purchase of AC in instalments:

      Pocket-friendly monthly instalments can help you avoid the strain on your finances caused by shelling out a lump sum upfront.

    • No cost EMI:

      You can pay your monthly instalments without incurring any additional charges

    • Zero Down payment:

      As all expenses are covered for the consumer durable product you wish to purchase; you need not wait any longer to own your desired appliance

    • Minimal documentation:

      You can now get a Consumer Durable Loan online with minimal documentation and processing with TVS Credit

    • First-time borrowers’ eligibility:

      Financial support is offered even to first-time borrowers with no credit history

Purchasing AC on EMI, Without Credit Card’s Limitations

You can overcome credit card limitations, as in case, you meet the eligibility criteria for a consumer durable loan, you can pay EMI without the need for a credit card.

However, customers who have a credit card may be able to apply for higher loan limits.

In the light of skyrocketing temperatures, buying an AC on EMI can prove to be a comforting solution. AC on EMI is a financially conscious purchase strategy that can help you tackle the heat without lengthy wait times. If you want to estimate the EMI amount as per your budget, you can use our AC EMI Calculator .

With TVS Credit, owning your dream home appliance is made easier than ever! It is an efficient way to finance your AC purchase with our Consumer Durable Loan. The minimal documentation process and round-the-clock approval make financial solutions instantly feasible even for first-time borrowers.