Refrigerator on EMI

Looking for affordable ways to upgrade your kitchen with a new refrigerator, you've come to the right place. The refrigerator loans in India offer a convenient solution, making it easier than ever to bring home the latest refrigerator on EMI. With Buddy Loan, you can get a loan amount of ₹10,000 to ₹15,00,000 at an affordable interest rate start 11.99% p.a.

Explore our range of financing options to find the perfect fit for your budget and needs.

Interest Rates & Charges to Buy Fridge on EMI

Before committing to a buy a refrigerator on EMI, it's essential to understand the associated interest rates and charges. Check out the interest rates and other additional charges in the below table and make informed financial decisions.

Interest Rates Starting at 11.99%* p.a.
Loan Amount ₹10,000 onwards
Repayment Tenure 6 months to 5 years
Processing fee Up to 6% of the loan amount
*The interest rates mentioned are dynamic and subject to change based on your credit history and creditworthiness.

Eligibility to Buy Refrigerator on EMI

The eligibility criteria may vary depending on the specific lender. Given below are the common eligibility criteria for availing a refrigerator loan:

Age: Must be between the ages of 21- 60 years.

Nationality: Must be Indian.

Income: Must have a minimum monthly income of ₹15,000.

Employment: Employed at a recognised public or private sector company.

Credit Score: Ideally a CIBIL Score of 750 or higher.

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Calculate EMI for Your New Fridge

Use an EMI calculator to estimate your monthly payments before buying a fridge on EMI. Just input the loan amount, interest rate, and period to check the calculated monthly installment.

Monthly EMI 86
Principal Amount 1,000
Total Interest 32
Total Amount 1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

For example,

Let's consider a loan amount of Rs. 50,000 with a 12% interest rate, a tenure of 12 months. The EMI using the formula:

EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]


P = Loan Amount

R = Monthly Interest Rate

N = Loan Tenure in months

EMI = [50,000 x 0.01 x (1+0.01)^12] / [(1+0.01)^12 - 1]

EMI = [50,000 x 0.01 x (1.01)^12] / [(1.01)^12 - 1]

EMI = ₹4447/-

EMI for the given loan details would be approximately ₹4447/-

Documents Required to Apply for an Online Refrigerator Loan

You must provide the lender with certain documentation for application to be approved, in order to purchase the refrigerator on EMI. The following essential documents are required for loan approval:

Address Proof: a recent utility bill, rental agreement, or Aadhaar card can be provided.

Identity Proof: an Aadhaar card, passport, driver's license, or any official photo ID issued by the government.

Proof of Employment: this might include your employee ID card, appointment letter, or relevant business records.

Income Proof: display your income using salary slips, bank statements, or income tax returns.

Photographs: attach passport-sized photographs along with your application.

Loan Lender Comparison to Buy Fridge on EMI

Major banks and NBFCs (Non-Banking Financial Companies) offer refrigerator loans as consumer durable loans. It is important to compare the interest rates of different lenders and choose a suitable one based on your needs.

Name of Lenders Interest Rates (p.a.)
SBI Personal Loan 11% onwards
HDFC Bank Personal Loan 10.50% onwards
PNB Personal Loan 10.40% onwards
Axis Bank Personal Loan 10.49% onwards
Bajaj Finance Personal Loan 11% onwards

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Note- The interest rates mentioned are subject to change. Do visit the website for more information.

Features & Benefits of Refrigerator Loan

Buying a refrigerator on EMI via a personal loan comes with several benefits. Explore the various features of below:

High Approval Loan

Get approval loan in minutes.

Get ₹10,000 onwards

You can avail loan amount of ₹10,000-₹15 Lakhs.

Competitive Interest Rates

Interest rates starting at just 11.99% p.a.

No Collateral Needed

Get loan without risking any asset.

Convenient Repayment

Choose your repayment tenure up to 5 years.

No Hidden Charges

Zero hidden charges and penalties.

Best Refrigerators in the Market at a Glance

With the market overflowing with options, choosing the right refrigerator to upgrade your kitchen might seem difficult. Here is a quick comparison of some of the top refrigerators available today, along with information on their costs and EMI options.

Model Name Price EMI (9 Months) EMI (12 Months)
LG 655 L Frost-Free Inverter Wi-Fi
Side-By-Side Refrigerator
₹1,07,990 ₹12,607 ₹9,595
Haier 628L Frost-Free Inverter
Triple-Door Side-by-Side Refrigerator
₹89,990 ₹10,505 ₹7,996
Haier 630L Frost Free Inverter
Side-by-Side Refrigerator
₹65,296 ₹7,623 ₹5,801
Whirlpool Frost Free Multi-Door Refrigerator ₹33,000 ₹3,852 ₹2,932

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Note- The prices mentioned are subject to change. Do visit the website for more information.

Different Ways to Buy Refrigerator on EMI

Buying a refrigerator upfront may not be feasible for everyone. Thanks to the EMI options, it has become easy for people to purchase their desired consumer products monthly installments. Check out the different options to buy refrigerators on EMI and choose the right one for you.

Refrigerator on EMI Without Credit Card

For the purchase of electronic products, such as refrigerators, banks and NBFCs expressly offer consumer durable loans. Refrigerator loan also falls under this category. This type of financing offers EMI choices, which makes it simple for people to buy mobile devices without using a credit card.

Buy Refrigerator on EMI with Debit Card

Certain banks offer debit card EMI, enabling you to buy items in installments. Activate this feature with your bank, select EMI during purchase, and the bank will convert the amount into monthly deductions from your debit card account.

Steps to Apply for a Refrigerator Loan

Check out the step-by-step process to apply for a refrigerator loan with Buddy Loan.

Step 1: - Visit or Download & install the Buddy Loan app (Android or iOS).

Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.

Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option

Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).

Step 5: Enter your work details (Including company name, years of service and Designation)

Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)

Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.

Ready to take next step ?

Frequently Asked Questions

Loan amount may vary based on the eligibility and the lender you choose. Check with your preferred lender for specific details.

Loan tenures typically range from 6 months to 5 years, depending on your preferences and the lender's policies.

Interest rates can be fixed or floating, depending on the lender and the loan scheme you choose. Be sure to clarify this with your chosen lender.

​​Common payment modes include direct debit, online payments, cheque/cash deposit, standing instructions, and mobile wallets.

You can avail a refrigerator loan via Buddy loan. Follow the steps mentioned above and apply for a refrigerator loan.

The required documents may vary from lender to lender, but they generally include proof of identity, address, income, and bank statements.

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