Upgrade Your Gadgets Now with Smart Consumer Durable Loan Options

When a beloved TV suddenly fails before family movie night or a student urgently needs a powerful laptop, waiting to save up is not practical for many buyers. High-end gadgets and appliances carry steep price tags, making upgrades feel overwhelming. A consumer durable loan provides a solution by offering affordable monthly payments instead of draining savings at once. 

With structured financing like Easy EMI Loan plans, people can take home preferred products immediately and manage costs later. 

Rising Consumer Durable Loan Market in India

India’s retail credit market has expanded significantly in recent years, driven by digital lending and easy EMI options on gadgets and home products. The total consumer loan market grew from nearly $80 billion in March 2020 to about $212 billion by March 2025, according to CRIF High Mark data, with consumer durable loan financing forming a meaningful part of that expansion. Reuters

According to LoansJagat data, retail and unsecured credit including consumer durable loans have shown robust year-on-year growth during festive shopping events, with lenders promoting quicker approvals and flexible EMI schemes. LoansJagat

Online platforms like Amazon and Flipkart are now venturing into consumer durable loan products too, intending to offer tailored installment plans on electronics and appliances once they secure final approvals from the Reserve Bank of India (RBI). These planned offerings may include no-cost EMIs and longer repayment periods, broadening customer access beyond traditional banks and NBFCs. Entrepreneur India

Popular Products Financed via EMI

What Can Be Purchased with a Consumer Durable Loan?

A consumer durable loan supports a wide range of essential and lifestyle purchases across entertainment, productivity, home, and personal tech:

Entertainment and Work Essentials

• Latest mobile phones and 5G-ready devices
• Smart TVs (LED / 4K) for cinematic home experience
• Laptops for work, study, or creative tasks

Major Appliances

• Refrigerators with advanced cooling tech
• Air conditioners suited for every home size
• Washing machines that simplify chores

Personal Tech & Wearables

• Smartwatches and fitness trackers
• Headphones and audio gear

Kitchen & Home Essentials

• Microwaves, mixers, blenders
• Air purifiers and vacuum cleaners

Flexible EMIs as low as Rs. 830 per month with offers such as flat Rs. 1,000 cashback make bringing home favourite products more affordable.

Past Trends and Development

The Reserve Bank of India’s Financial Stability Report (June 2025, Serial No. FSR-2025-06) shows retail credit growth at 18.6% year-on-year, with unsecured personal loans up 23.1% and consumer durable loans rising 20.4% year-on-year — signaling rising dependency on credit for lifestyle and gadget spending. LoansJagat

Despite a spike in festive purchases, total outstanding consumer durable loan volumes were muted at Rs 23,646 crore by October 2025, showing only marginal growth from the prior year, per RBI data reported by ET. The Economic Times

Stakeholder Views

Industry experts note that while consumer loan demand remains strong, lenders are tightening underwriting standards to maintain asset quality. 

E-commerce giants such as Amazon and Flipkart see potential in offering tailored financial products to deepen customer engagement and challenge traditional banks. Entrepreneur India

Conclusion

Smart financing via consumer durable loan options helps buyers upgrade technology and home appliances without large upfront costs. 

With flexible EMI plans, growing digital lending platforms, and evolving RBI policies, consumers now have more ways to manage big purchases efficiently.
 

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About the Author

LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.