Financial Aid For Basic
Essentials In Life

Consumer Durable Loan

A Consumer Durable Loan is an option that helps customers finance their purchase of consumer durables. This class of products includes household appliances or electronics such as TVs, refrigerators, air conditioners, washing machines, microwaves, home theatres, laptops, wellness equipment, lifestyle products, etc.

By obtaining a Consumer Durable Loan, a customer can buy these products and repay the cost of the purchase over a convenient period, ranging from 6 months to 24 months

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Get to know more about
Consumer Durable Loan

    Consumer Durable Loan EMI Calculator

    0 Lac 10 Lac
    1% 30%
    1 Month 180 Months
    EMI Details

    Monthly EMI

    Principal Amount

    Interest Amount

    Total Amount Payable

    Target Segment
    Aspiring Middle Class
    • Those who are not poor but have yet to achieve economic security
    New to Credit Segment
    • The business of a company from the view of credit assignment and control.

    How To Apply

    Submit Aadhar Card / PAN Card

    We will check your Cibil Score

    Submit Income Proof

    We will check your eligibility based on Income / Cibil Score

    Receive Money

    Receive your money in 1-2 business days after verification


    Factors That Affect Durable Loan Eligibility

    Income Proof Scheme - Salaried employees / Pensioners

    Applicant age icon
    Applicant age

    Age: 21- 65 years on loan maturity.

    Monthly income icon
    Monthly income

    Minimum Gross Monthly Income Rs. 15000/-

    Occupation icon

    Vintage of at least 2 years with the current employer.

    Cibil score & loan amount icon
    Cibil score & loan amount

    Government employees with proper ID Card. Cibil score -1 or above 700. Maximum Loan amount Rs. 2.00 L

    Income Proof Scheme - Self Employed Individuals

    Applicant age icon
    Applicant age

    Age: 25-65 years on Loan Maturity.

    Monthly income icon
    Monthly income

    Minimum documented income / Assessed income Rs. 1.50 L

    Occupation icon

    Minimum 6 months in current business

    Surrogate Scheme

    Surrogate Scheme icon
    Surrogate Scheme

    12 months vintage with minimum credit limit of Rs. 50000/-.Latest 3 months credit card statement with no over-dues to be submitted. Minimum Cibil Score of 700. Maximum Loan amount 150% of the Credit Card limit.

    Monthly income icon
    Monthly income

    Minimum documented income/Assessed income Rs. 1.50 L

    Customers with documents icon
    Customers with documents

    Own house proof, such as electricity/water bills or any other ownership proof. Cibil score -1 or above 700. Maximum Loan amount Rs. 1 L

    Note: Common eligibility norm for income and surrogate schemes: Residing in the current address for more than 6 months.


    The act of paying back money previously borrowed from a lender

    Monthly Instalment. No repayment holiday.

    Autopay icon

    Can make use of internet banking to set up autopay for your EMI payments.

    Standing Instructions icon
    Standing Instructions

    Can set up standing instructions using NACH mandate.

    Draft / Cheque icon
    Draft / Cheque

    EMI payments can also be made via drafts or post-dated cheque.

    Online Transfer icon
    Online Transfer

    EMI payments can also be made online using NEFT, RTGS, IMPS payments.

    Loan Amount

    Rs. 5000/-


    Rs. 5 L/-

    Loan Tenor

    6 months


    60 Months

    Maximum Tenor not to exceed 24 months for loans upto Rs. 50000/-


    10% of the invoice value.


    Hypothecation of the assets acquired out of the finance

    Co-Applicant / Guarantor

    Co-applicant Mandatory for loans above Rs.75000/- . Spouse / Family Member / Co-worker can be a coapplicant / Guarantor

    Rate of Interest

    To be decided on a periodical basis

    Interest type: Fixed

    Processing Fee

    Rs. 3% + GST

    Other Charges
    1. Late Payment fee: 2.00% per month (24% per annum) for the defaulted amount for the defaulted period.
    2. Pre-closure charges: 4% of principal outstanding
    3. Penalty for cheque bounce / NACH Return : Rs. 500+ GST
    4. Change of Bank Account: Rs. 400 + GST

    Direct to the supplier / dealer by debit to the loan account.

    Pre-sanction inspection

    Direct to the supplier / dealer by debit to the loan account.


    Insurance coverage (ADLD-Accidental Damage and Liquid Damage) mandatory for all household appliances, Electronic Goods, Wellness equipment etc.

    Pre-sanction documents
    1. Loan application
    2. KYC documents (AADHAAR mandatory)
    3. Identity Proof: Aadhaar Card / PAN Card / Driving License / Voter’s ID / Passport
    4. Address Proof: Aadhaar Card / Passpor t/ Bank Account Statement / Lease / Property purchase Agreement / Utility Bill (not more than 3 months old) / Driving License
    5. Estimate / Performa Invoice

    Income documents:

    1. Salaried – Latest form 16, 3 months pay slip/ Bank account statement for 6 months into which salary credited, Salary certificate
    2. Pensioners- Pension book, Bank account statement evidencing the pension credited
    3. Self Employed/Non-Salaried- Last 2 years ITR (with minimum 6 months gap between 2 filings), 6 months account statement with a monthly credit of Rs. 10K
    4. Business Proof (for self-employed applicants): GST Registration and Filing Documents/ Partnership Deed/Certificate of Practice/ MOA & AOA/ Shop Act License
    5. Documents for surrogate-As per column 3 (Eligibility)
    Loan Documentation
    1. Loan cum Hypothecation agreement
    2. 2 Security cheques- and NACH Mandate
    3. Original invoice / Bill (Post disbursement)
    4. Land Tax Receipt / Copy of title deeds
    Delegation for sanction

    To be decided on a periodical basis

    General guidelines
    1. Customer can either apply for a consumer durable loan online through the LFS website or visiting our branch office / LFS Counter in dealer locations by submitting a duly filled loan application form along with the necessary documents.
    2. Cibil Report / Equifax Report / CRIF Highmark reports to be generated in all cases. (Cibil + Any one of the other.)
    3. Repayment capacity to be calculated using the FOIR Method by taking into the monthly obligations. Maximum FOIR 60% to be insisted.

    Age deviation, Cibil Score Deviation, and waiver of insurance shall be within the delegation of Head-Credit & Risk.


    What Our Customers Says

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    Transparency and the right financial assistance are the key factors for me in choosing LuLu Finserv. The branch staff rightly helps you choose the right scheme based on your financial requirements.

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    George Facister


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    LuLu Finserv is one of the best customer-centric and service-oriented NBFCs in the region, and I would recommend that everyone confidently avail of their services.

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    The easy loan process and quick disbursal of funds is the best part about LuLu Finserv.

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    Nithin P.P


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    I am happy to say that LuLu Finserv has been a great support during any urgent financial need. The genuine customer service and choice of lending schemes make it the right place for all.

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    Rajesh P