BANKING AFFAIRS

Detailed explanation-1: -Despite their availability in varied colours, now they are still called white goods). Banks provide Consumer Durable Loan for purchase of these goods.

Detailed explanation-2: -What is a Consumer Durable loan? A consumer durable loan is a credit/finance option for the purchase of household appliances, electronic goods etc. Return to top. What do lenders look for before offering you a consumer durable loan? Lenders check your annual income and credit history.

Detailed explanation-3: -Updated: 12-04-2022 13:04:27 PM. Consumer durable loan is a special category of personal loan that is generally used to purchase electronic gadgets and household appliances that include smartphones, televisions, PlayStations, home theatres, laptops, cameras, washing machines, modular kitchens and much more.

Detailed explanation-4: -As the name suggests, a consumer durable loan is a loan taken for the purchase of consumer durables. Some of the white goods that are covered in this loan are washing machine, refrigerator, television, cooking range, air conditioner, smartphones, generator, water purifier, music or audio system etc.

Detailed explanation-5: -The concept of personal loan refers to the type of collateral that the customer offers the bank, while the concept of consumer credit refers to the purpose for which the loan will be used and the concept of fast loan refers to how the transaction is processed.