An Overview Of Consumer Durable Loans

AN OVERVIEW OF CONSUMER DURABLE LOANS What is a Consumer Durable Loan ? A consumer durable loan is a loaning facility provided by banks and different financial institutions, taken for the purchase of different electronic appliances and domestic/ household appliances that have a handsome price. Let's have a look at the 5 benefits of this attractive and consumer-friendly loan! LOW INTEREST Consumer durable loans are available at lower interest rates than any other loan service. Though the rate may be different from all banks and financial institutions it will be more affordable and cost-effective than other credit facilities. OFLEXIBLE TENURE These loans have a considerable long tenure following the loaning amount. Generally, a consumer durable loan ranges from 6 months to two years. You can get your loan for the tenure by your repayment capability. MINIMUM DOCUMENTATION A consumer durable loan is an unsecured type of loan and there is negligible documentation required for application of the loan. All you need is to do is fill in the form, your income tax return, and the latest tax bill and the loan will be processed. NO COLLATERAL When you apply for a consumer durable loan, there is nothing you put at stake. There is no requirement of collateral to be presented as security against the loan amount. Unlike house loans, home loans, and other different financial services. QUICK PROCESS As we discussed in the earlier points there is very little documentation, no collateral, and negligible processing charge, no foreclosure too! So the entire process of approval and application is quicker than usual. IN THE SEARCH FOR THE MOST RELIABLE CONSUMER DURABLE LOAN PROVIDER? Gujarat Mercantile Co-operative Bank Ltd is a popular name for providing custom consumer durable loans at the best rates in town. We have a team of highly skilled and dependable banking professionals, getting you the most secure, efficient, and convenient financial services. GUJARAT MERCANTILE CO-OPERATIVE BANK LTD www.gmcbank.in INDIA सौ रुपये