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Business News/ Brand Stories / How You Can Buy Electronic Items Using Hero FinCorp Personal Loan Without Breaking Your Savings
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How You Can Buy Electronic Items Using Hero FinCorp Personal Loan Without Breaking Your Savings

Also known as consumer durable loans, these are unsecured Personal Loans you may borrow for buying electronic items, latest gadgets, or home appliances.

How You Can Buy Electronic Items Using Hero FinCorp Personal Loan Without Breaking Your SavingsPremium
How You Can Buy Electronic Items Using Hero FinCorp Personal Loan Without Breaking Your Savings

Do you plan to upgrade your television or replace your old washing machine but don't want to break your savings? A Hero FinCorp Personal Loan can come in handy in such situations. Using a Personal Loan to purchase electronic items and paying the price later in easy EMIs is an ideal scenario for people with a limited cash flow. It helps you buy your desired products without paying their price upfront. Those who dream of buying the latest electronic gadgets but are short on cash can get Personal Loan online to achieve their goals. 

Since technology changes every day and saving enough cash for them takes a long time, a Personal Loan for electronic items makes small dreams come true. Let’s look into this funding option in more detail.

What are Personal Loans for Electronic Items?

Also known as consumer durable loans, these are unsecured Personal Loans you may borrow for buying electronic items, latest gadgets, or home appliances. Finance your big-ticket purchases using a quick and affordable Hero FinCorp Personal Loan. To qualify for a Personal Loan, you must have a stable income, a low debt-to-income (DTI) ratio, and sufficient work experience. Credit score also plays a significant role in determining your loan eligibility. 

The Personal Loan interest rates may vary, but they are affordable for people willing to buy home electronics on EMIs. When you get a Personal Loan, you can own your desired product today and pay its price in EMIs for a period of up to 36 months. Thus, it lets you own the product without putting any extra pressure on your monthly budget. 

Benefits of Buying Electronic Items with a Personal Loan 

Purchasing an expensive electronic item by paying its price upfront can be a huge burden on your savings. Here are the benefits of financing it with a Hero FinCorp Personal Loan:

  • A Personal Loan can be an efficient funding option to finance the purchase without creating a burden on your finances or breaking your savings. 
  • Those on a tight budget can upgrade their old home appliances and pay their price in easy instalments.
  • Personal Loans are known for their digital loan procedures, easy eligibility conditions, and minimal documentation requirements, making electronic purchases easy for individuals on a tight budget.
  • These loans are collateral-free and do not require the security of any guarantor or asset. All that matters is your income and creditworthiness.
  • Due to 100% digital loan procedures, you can apply for a Personal Loan using the Hero FinCorp loan app anytime from anywhere. 

Features That Make Personal Loans the Most Popular Funding Options

Let’s look at the features of Personal Loans that make them the most popular funding options for electronic items:

Easy Access: Personal Loans are really beneficial if you wish to upgrade your electronic appliances and gadgets without paying their price in one go. Whether you want to purchase a laptop, smartphone, gaming console, LED TV, music system, refrigerator, or microwave oven, get a Personal Loan to buy your desired product and pay its cost in EMIs over 36 months. 

Low-Interest Rates: Personal Loan interest rates are lower than credit cards and many other credit options. Thus, you can buy your desired electronic products without stretching your finances unnecessarily. 

Quick Funding: Thanks to their 100% digital procedures, you can apply for a Personal Loan online and get approval within a few minutes. That means you can buy your dream product today rather than waiting for the savings to accumulate.

Paperless Application: The Personal Loan application process is online and paperless, saving you from multiple branch visits. Once you submit the digital loan application through the instant loan app, the lender takes just a few minutes to verify your details and documents. Once you get the approval, you can review and accept the loan offer to get disbursal directly into your bank account. You don't need to visit the lender's branch office even once during the entire process, from application to disbursal.

No Collateral Requirement: Personal Loans do not need any collateral for security. You can get a Personal Loan from Hero FinCorp with your personal, professional, and financial details. However, your income and professional stability do matter for approvals. Any salaried or self-employed individual fulfilling the eligibility criteria can obtain a Personal Loan without any collateral, security, or guarantor.

EMI Affordability: Personal Loans from Hero FinCorp have flexible repayment terms of up to 36 months. You can choose a tenure with EMIs that suits your monthly affordability. The longer the tenure, the smaller the EMIs. Additional charges like processing fees are also nominal, making them the most affordable funding options for electronics.

Eligibility Criteria for a Personal Loan

Before applying for a Personal Loan at the Hero FinCorp loan app, ensure fulfilling these eligibility conditions:

  • Indian citizenship
  • Age: 21-58 years
  • Minimum monthly income: 15,000 
  • Work Experience: Six months for salaried and two years for self-employed

Steps to Apply

Follow these steps to apply for a Personal Loan through the Hero FinCorp loan app:

  • Open the Hero FinCorp loan app.
  • Go to the Personal Loan page and click ‘Apply Now’.
  • Fill out the application form with your income, identity, and employment details.
  • Scan and upload the necessary documents.
  • Wait for the verification process to complete.
  • Review and accept the loan offer to get disbursal into your bank account instantly.

A Personal Loan from Hero FinCorp Does Make Sense

A Personal Loan from Hero FinCorp does make sense due to its affordable interest rates without any security. Any salaried or self-employed person with a minimum monthly income of 15,000 can get a Personal Loan of up to 3 Lakh to purchase their desired electronic item. You can repay the borrowed amount in a flexible tenure of up to 36 months without stressing your budget. The interest rate is low, making it an affordable funding option to purchase your dream electronics. Due to all these benefits and features, a Personal Loan from Hero FinCorp does make sense for your electronics purchase.

Disclaimer: This article is a paid publication and does not have journalistic/editorial involvement of Hindustan Times. Hindustan Times does not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same. The article does not constitute financial advice.

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Published: 22 Feb 2024, 01:44 PM IST
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