Personal Loans are one of the best funding options to cover various expenses. You may easily use them to finance big-ticket expenses. If you plan to purchase a new TV, a Personal Loan can provide the required TV finance. The best thing is that you can distribute the appliance’s cost into EMIs while keeping your savings intact.
Are you planning to borrow a loan for TV? Here is everything you need to know.
Financing a TV through a TV Loan
If you plan to purchase a new TV, an instant cash loan from Hero FinCorp can provide the necessary funds to make it happen. Ample loan amounts, reasonable interest rates, and flexible loan terms are the major advantages of borrowing a loan on TV.
A few things to look for when finalising a loan plan include the interest rate, repayment terms, loan amount, eligibility conditions, documentation requirements, customer service, etc. Compare the loan plans carefully and decide to get the best deal.
Advantages of Buying a TV on a Loan
Purchasing the TV you desire can be a major expense, especially if your old TV has broken down and you need to buy a new one immediately. A loan on a TV purchase offers multiple advantages, including the following:
- Ample Loan Amount: A TV loan can provide up to Rs 3 Lakh to purchase your desired TV.
- Attractive Interest Rates: Personal Loan interest rates are reasonable enough to avoid unnecessarily increasing the gadget's cost.
- Flexible Repayment: You may choose a repayment term of up to 60 months with EMIs suitable to your monthly repayment capacity.
- Access to a Better TV: Since you don't need to pay the TV’s price upfront, you can opt for a bigger, better, or more feature-rich TV.
- No Need to Exhaust Savings: You can purchase your desired TV without exhausting your savings.
- 100% Digital Application: You don't need to run from pillar to post to seek a TV loan. You can apply for TV loans online from your home and get the required funding instantly.
- Simple Eligibility and Documentation: TV finance through Personal Loans involves a straightforward process without complicated eligibility criteria and documentation requirements.
How Does Getting a TV on Loan Work?
Borrowing a loan for a TV involves the following steps:
- Decide upon the loan amount required for the TV purchase.
- Use a Personal loan EMI calculator Online to select an appropriate loan term.
- Apply for a television loan on the Hero FinCorp app or website.
- Provide the necessary documents to complete the application process.
- Review the loan offer and read the terms and conditions carefully before accepting the loan offer.
- Make a solid repayment plan to pay the EMIs on time.
How a Personal Loan Helps You to Get Television on EMI?
A Personal Loan helps you get a TV on EMIs in the following ways:
- Instant loan approval to finance the purchase
- Freedom to purchase a bigger and better television
- Cost distribution in EMIs
- Easy repayment in budget-friendly instalments
- Competitive interest rates to keep the cost affordable
Also Read: How To Calculate Your Personal Loan Emi Through Various Methods?
How to Apply for a Personal Loan Online to Get a TV on EMI?
Funding a TV purchase with an instant cash loan makes the process much easier and faster. Follow these simple steps to apply for a television loan:
- Visit the Hero FinCorp website or personal loan app.
- Go to the Personal Loan section and click ‘Apply Now.’
- Fill out an online application form with your personal, professional, and financial details.
- Scan and upload the required documents, including your identity, income, and address proof.
- Wait for the verification process to complete and receive approval.
- Review and accept the loan offer to get disbursal in a few hours.
Conclusion
Do you plan to purchase a TV on loan? Opting for a Personal Loan from Hero FinCorp to finance your television purchase on EMI is a strategic financial move. It provides the flexibility to acquire the latest technology without straining your budget. With competitive interest rates and convenient repayment options, Hero FinCorp ensures a seamless and affordable experience.
Frequently Asked Questions
1. What is TV finance?
A Personal Loan used for purchasing a television is called TV finance.
2. How can TV finance help me with investment decisions?
When you purchase a TV on loan, you can make a better investment decision according to your budget. Borrowing a loan with reasonable interest rates and choosing an appropriate repayment tenure makes TV finance affordable.
3. What are the eligibility criteria for a TV loan?
Both salaried and self-employed individuals can apply for a TV loan. However, to qualify, you must fulfil the financial institution’s age, income, and work experience-related conditions.
4. Is a down payment required for a TV loan?
No, Personal Loans are unsecured loans that do not require any down payment, guarantor, or security.
5. How long is the repayment period for a TV loan?
You can repay a TV loan in a repayment period of up to 36 months. An EMI Calculator helps select the right repayment term suitable to your budget.
6. When are EMI bounce charges applied?
EMI bounce charges are applied when an EMI payment fails due to reasons such as insufficient funds, account closure, or technical issues.
