Consumer Durable Loans

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Consumer durable loans are loans given for buying television, microwave, food processors, washing machines among others.
The quantum of loan advanced may vary from Rs 5,000 to Rs 1,00,000. Normally 90% of the value is advanced and the repayment period is between 12 months to 36 months. Although this type of loan is largely unsecured but some of the equipments like computers, refrigerators and music system is hypothecated. Nationalised banks charge lesser rate of interest than the other banks

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Consumer Durable Loans

  1. 1. Consumer Durable Loans Introduction Types & Interest RateConsumer Durable Loans Retail Banking Chapter 10
  2. 2. Introduction Consumer durable loans are for the purchase of consumerdurables such as Food Processors, Microwaves, Television,Washing machines, etc. The loans are advanced to person who isover the age of 18 years and having sufficient disposable income torepay monthly installments. As it is for consumer durables, the quantum may very fromRs.5,000/- to Rs.1,00,000/-. Normally 90% value is advanced. Theperiod of repayment is form 12 months to 36 months. Consumer Durable Loans Retail Banking Chapter 10
  3. 3. Types & Interest Rate Although it is a unsecured type of loan, but in someequipments like computers, refrigerators, music systems, etc. arehypothecated. The rate of interest of this loans are vary from bank tobank. But the nationalized banks charges less interest than that ofother banks. Consumer Durable Loans Retail Banking Chapter 10
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