There was a time when refrigerators were something considered a rarity among the populace. It was considered a rich people’s tool and not affordable by others. Now things have changed so much with the price of refrigerators coming down drastically and the lifestyle of people changing where it used to be people buying and storing food materials at most for a day or 2 but now the fast lifestyle of people force them to store food for weeks. This lifestyle has prompted a huge growth in the buying of refrigerators.

Our country being a tropical one where almost 80% of the country has very hot summers play a vital role when it comes to refrigerator purchase.

This article is for all those people looking to buy a refrigerator and looking for finance options to pay for it apart from the conventional credit card loan and personal loans.

What are the options for consumer durable loans?

There are many finance companies like Bajaj Finserv, Tata Capital, CapFirst, and Home Credit that offer consumer durable loans, which you could use to buy your refrigerator on EMIs. You can shop for your favourite refrigerator at one of the partner outlets and apply for the loan at the bill counter or apply for it online on their website. Documentation is minimal. If your documents are found to be in order, you will be approved, and you can walk out with your dream refrigerator in your hand the very same day!

Which are the best EMI Cards?

Bajaj Finserv’s EMI Card is one option to buy your dream refrigerator. An EMI Card is essentially a pre-approved loan that converts various purchases into easy EMIs. You can additionally choose your tenure and the amount that you are comfortable with to pay as EMIs. If you want to pay off your purchase earlier, there will be no penalty for foreclosure.

How lending technology platforms benefit borrowers?

With new advances in financial technology every day, you can now buy your refrigerators with the help of online lenders, using just your existing debit card! You can take advantage of various online lending platforms that let you shop using your debit card and convert it into easy EMIs. Thanks to platforms like ZestMoney, Finomena, and FastBanking (now Kissht), you can shop with your debit card and have your purchase converted into easy EMIs. Approval is fast and the documentation required is minimal.

EMI on your existing debit card:

Banks like Axis, HDFC and ICICI Bank let their customers buy refrigerators and other gadgets on EMI using their debit card! If you are a customer of any of these banks, you can simply buy your refrigerator by visiting the partner outlet where this offer is available. You can check with the bank’s website for details on partner outlets and eligibility. Keep in mind that you will need the requisite balance in your savings to account for the transaction to be approved.

Choose any of the above options that you are comfortable with and keep cool!


Financing a refrigerator is easy by using any of the above-mentioned options even if you don’t have a credit card. These options are reasonable and have flexible terms that can benefit you.


  1. How can I buy a fridge on EMI?

Buying a fridge through EMI is easy as there are many financing options such as:

  1. Consumer durable loans
  2. EMI cards
  3. Lending technology platforms
  4. EMI on existing debit card
  1. Does EMI require a credit card?

Normally EMIs are linked to credit cards or loans. There are also other financing options that provide EMI facility and may not necessarily require credit cards.

  1. What is the cost of a double door fridge?

There are many double-door fridge options available in India. The price of these could range around Rs. 20-30 k depending on the brand and quality.

  1. How much does a fridge cost in India?

A fridge can cost as little as Rs. 5k to Rs. 1 lakh depending on the quality and variant. These can be availed on EMI without credit cards.

  1. How can I get EMI without a credit card?

EMI can be availed by borrowing a loan from online platforms, a loan against an insurance policy, etc. It is not necessary to have a credit card to borrow a loan.