ICL Hire Purchase Loan is designed to meet the financial needs of the salaried/self-employed people etc, who intend to purchase household appliances such as Televisions, Washing machine, Refrigerator, Air conditioner, Micro wave ovens etc. for their personal use.
The salient features of our business loan service are as follows:
- Customer to pay 25% down payment of the total value of appliance
- Loan is given up to 75% of the value of the appliance.
- Loan proceeds are paid directly to the merchant from where the appliance was bought.
- Minimum Loan amount is Rs.5,000 and maximum upto Rs.50,000
- Period of the loan is 12 months EMI basis
- Interest Rate flat 18%
- The loan can be closed at any time by paying remaining EMI
Please visit one of our nearest branches to understand the terms and conditions of ICL Hire Purchase loan products. Our customer sales executives will be happy to render their help to you.