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As the temperatures rise during the summer season in India, staying cool and comfortable becomes essential. One effective way to beat the heat is by purchasing an air conditioner on a No Cost EMI plan. With this convenient option, you can enjoy the benefits of an AC without any additional interest charges. With the convenient option of Kotak Smart EMI, purchasing an AC on EMI allows you to spread out the cost over manageable monthly installments, making it easier on your budget. This article will guide you through the process of buying an AC on No Cost EMI with Kotak Smart EMI, ensuring you have a comfortable and affordable summer.
Different Types of AC Brand
The first decision you need to make is a choice between two of the most popular AC variants: window and split AC. Your budget, cooling space, and fitment requirements heavily influence the choice between the two. Here is a quick comparison:
Features
Window AC
Split AC
Cooling capacity
Window ACs work better for cooling small rooms
Split ACs can service larger areas
Tonnage
Most window ACs max out at 2-tonne units
Split ACs are commonly available up to 3 tonnes, and some manufacturers offer models up to 5 tonnes
Space requirement
These need to be installed around a window and require a large space as the entire system is one big unit
The cooling unit can be mounted on any wall, while the compressor can be hidden from view
Noise
The attached compressor and vibrations from the window fitting can make these units louder
Separate mechanisms for the cooling unit and compressor make split ACs relatively quiet
Maintenance
On account of a single unit, maintenance cost is lower
Two separate units mean higher maintenance costs
When purchasing an AC, you may consider availing AC on EMI, AC on installment, or AC finance options to make it more affordable. By exploring brands like Voltas, Panasonic, Whirlpool, Lloyd, Samsung, LG, and Haier, you can find the right air conditioner on EMI that suits your requirements. Compare factors such as cooling capacity, tonnage, space requirement, noise levels, and maintenance costs. This way, you can make an informed decision and choose an AC that fits your budget while enjoying the benefits of no-cost EMI on ACs.
Compare the offerings of different brands to find the air conditioner that best suits your cooling needs and preferences.
Eligibility for No Cost EMI
Parameter
Description
Nationality
Only Indian Nationals
Age limit to apply for loans
For consumer durables: Minimum 21 years; Maximum 65 years For digital products: Minimum 23 years; Maximum 65 years
Area of current residence
Individual: Salaried (private/government) Individual: Self-employed Individual: Pensioner
Individual: Business owner
Minimum documents
Identity proof Current residence address proof
These eligibility criteria are applicable for availing Kotak Smart EMI. Please ensure that you meet these requirements before applying for a loan.
Finding a Store Offering No Cost EMI
To make the loan application process faster and more convenient, we have introduced a complete digital end-to-end journey for customer onboarding. With this streamlined process, you can avail of our Kotak Smart EMI quickly and easily. The digital journey includes biometric login, E-NACH, and OTP-based application eSign, eliminating the need for extensive paperwork and lengthy procedures.
Here is a step-by-step guide on how to avail the loan:
By following these steps, you can experience the benefits of No Cost EMI and bring home your desired product without any financial burden. Take advantage of our hassle-free process and enjoy the convenience of shopping on EMI.
Also Read: Buy Laptop at no cost emi with credit card
Tips for Buying a Brand AC on No Cost EMI:
When buying a brand new AC on EMI, there are a few key factors to consider. Here are some of them:
By keeping these tips in mind, you can make an informed decision.
Conclusion:
No Cost EMI offers a range of advantages when purchasing a brand AC. By opting for No Cost EMI, you can enjoy benefits such as loans up to Rs 15 Lakhs, flexible repayment tenures, instant loan approvals, minimal documentation, minimal processing fees, and pre-approved offers. This allows you to own a brand AC of your choice while managing your finances effectively. Don't let the scorching heat affect your daily life; make the most of this opportunity to stay cool and comfortable this summer.
Also Read: What are Finance Charges in Credit Card?
Frequently Asked Questions
1. Is it better to buy an AC on No Cost EMI or a regular EMI?
No Cost EMI is a better option compared to a regular EMI because it allows you to purchase an AC without incurring any additional interest charges. With No Cost EMI, you can spread the cost of your AC purchase over convenient monthly instalments without any extra financial burden.
2 Can I prepay my No Cost EMI instalments?
Yes, you have the flexibility to prepay your No Cost EMI instalments. However, it is advisable to check with the specific terms and conditions of the lender or financial institution providing the No Cost EMI facility.
3. What happens if I miss a No Cost EMI instalment?
If you miss a No Cost EMI instalment, penalties or charges may be applicable, depending on the terms and conditions of the lender. It is important to make the EMI payments on time to avoid any additional fees or adverse effects on your credit score. If you anticipate any difficulty in making the payment, it is advisable to contact the lender and discuss alternative options.
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