Are you planning to upgrade your old TV with a new and better model? Get a television loan to buy yourself the latest smart TV on EMI with the best features, without exhausting your savings. Purchasing TV on EMI helps to break down the expense into equal and smaller instalments making it a more convenient option.
The facility to buy a TV on EMI is offered to customers by various banks and Financing companies with flexibile EMI options. Also, there is no need for you have a credit card to buy a TV on EMI. So, check the details below and apply online to bring home the TV of your choice!
Interest Rates & Charges to Buy TV on EMI
Some lenders will offer zero interest charges or no-cost EMI when you buy a TV on EMI, however, others may cater it at a low interest rate. There could be additional payments such as processing fees, and late payments charges as well. Some of the general interest rates and charges asked by lenders for a television loan are as estimated below:
| Interest Rates | 11.99%* p.a. |
| Tenure | 6 - 60 months |
| Loan amount | Up to 15 lakhs |
| Processing fee | Up to 4% (Can vary depending on lenders) |
Loan Eligibility to Buy TV on EMI
The eligibility criteria are a set of requirements that you need to meet to get your loan TVs approved. The eligibility criteria are important for you to be aware of the basic requirements needed to get a loan for television purchase.
Below are some general eligibility requirements by loan lenders:
| Citizenship | Indian |
| Age | 21 - 60 years of age. |
| Employment status | Must be salaried or self-employed. |
| Minimum salary requirement | ₹ 15,000 |
| Credit score | 600 above |
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EMI Calculator for TV Loans
Calculate the estimated EMI amount before purchasing your smart TV on EMI using the online calculator given here. Enter your loan amount, interest rate and loan tenure to check the EMI for your personal loan.
The online EMI calculator is easy and convenient to use, helping you manage your finances effectively. Knowing your estimated equated monthly instalment before you buy a TV on EMI will help you understand your affordability. Based on the estimate you can also evaluate the right tenure so you can comfortably manage your EMI to avoid financial difficulties.
You can also manually calculate your EMI using the formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]
Here, P stands for the principal amount, R stands for interest rate and N stands for tenure.
Documents Required for Television Loan
To buy an LED TV on EMI online, you will need minimal documents for identity proof, address proof, income proof and more. Just provide the following documents to the bank or NBFC to get a TV on EMI:
| Identity Proof | Aadhaar card and PAN card |
| Age Proof | Birth certificate or Voter’s ID |
| Address Proof | Rental agreement or Utility bills |
| Salary Proof | 3 months salary slips and 6 months bank statements. |
Ready to take next step ?
Lenders Comparision to Buy TV on EMI
Lenders for TV loans tend to partner with the retailers to provide easy and affordable financing options. Select carefully to find the best repayment plan that suits your budget. Below is a list of various banks and NBFCs that provide television loan along with their interest rates:
| Bank / NBFCs | Interest Rate |
|---|---|
| IDFC First Bank | 10.00% p.a. |
| Kotak Mahindra Bank | 10.00% p.a. |
| Fullerton | 11.99% p.a. |
| HDFC Bank | 11.78% p.a. |
| ICICI Bank | 9.32% p.a. |
| Bajaj Finserv | 11.00% p.a. |
| State Bank of India | 18.35% p.a. |
| Fibe | 12.00% p.a. |
| Tata Capital | 16.00% p.a. |
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The interest rates mentioned are subject to change. Do visit the website for more information.Features & Benefits of TV Loan
Buying a brand new TV on EMI has many benefits along with flexible repayment options. These features and benefits are as follows:
Customisable Loan
Amount
You can get TV loan of any
amount from ₹10,000 up to
15 lakhs.
Tailored Repayment
Plans
You can enjoy a repayment
plan that fits your budget.
Affordable Interest Rate
Enjoy interest rates starting
from 11.99% p.a. Some
lenders offer 0% interest.
Zero Cost EMIs
Most banks and NBFCs
offer no cost EMIs on
television loans.
Minimal Documentation
Get a new TV on EMI with
just PAN or Aadhar card.
Fast Approvals
Get instant approval in just
minutes.
Steps to Apply for TV Loan with Buddy Loan
Getting a new TV has become even easier with a TV loan from Buddy Loan. Just follow these simple steps and get an affordable EMI TV online:
Step 1: - Visit buddyloan.com 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
The minimum amount you can borrow for a TV loan is ₹10,000.
The interest rate for a TV loan will be starting from 11.99% p.a. Although the interest rate will depend on a lot of factors like your credit score, loan amount and the lender.
You can get a TV loan for a tenure of about 12 months to 60 months.
To get a TV loan you will need to be an Indian citizen of about 21 - 60 years of age, salaried or self-employed with a credit score of about 600 above.
A TV loan will take about minutes to get approved, depending on your eligibility and the terms of the lender.
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