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Dussehra Shopping 2026: No-Cost EMI vs Consumer Durable Loan vs Personal Loan for TV, AC and Fridge

Key Takeaways

Compare Dussehra and Diwali deals based on price, urgency, availability, and potential savings.
Decide on the right financing solution by understanding no-cost EMI, consumer durable loan, and personal loans.
While it offsets the interest cost, no-cost EMI may include other charges and terms.
A personal loan meets varied Dussehra shopping needs with attractive terms.

15 Oct 2026 by Team FinFIRST

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With Dussehra around the corner, festive deals await! All big-ticket purchases you've been putting off can finally be realised thanks to attractive discounts. Whether it is buying a TV, AC, fridge, or other electronics, Dussehra is a good time to make your planned purchase. But Diwali follows soon after. So, should you wait or lock in the upcoming deals with a personal loan? Let's find out.

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Should you buy during Dussehra or wait for Diwali?

Festive sales run across both occasions, and the best time depends on your needs and how you plan to buy. Here are ways to decide between a Dussehra and Diwali sale:

The kind of deals during Dussehra

The urgency of your purchase

Product availability during the sale

Your budget at the time of purchase

The cost of waiting, like spending on repairs and managing an unreliable appliance

Buy at Dussehra if: the appliance is failing, you want a specific model in stock, or you need delivery before guests arrive.

Wait for Diwali if: the purchase can wait, you’re price-sensitive on big-ticket items, or you want to combine bank offers.

No-Cost EMI vs consumer durable loan vs personal loan: What’s the difference

Once you've decided when to buy, you can think of how to pay for it. If you don’t have enough funds for an upfront payment, you can consider these three options:

No-cost EMI

A no-cost EMI is a payment arrangement where you can split the purchase into equated monthly instalments without paying additional interest under the scheme. This facility may be available through a credit card or a consumer loan, depending on eligibility and availability. However, a processing fee and GST on interest may still apply.

Consumer durable loan

The meaning of a consumer durable loan extends to a purpose-specific loan that is intended to finance the purchase of a TV, fridge, AC, and other household appliances and electronics. IDFC FIRST Bank consumer durable loan combines the benefit of no-cost EMI options (depends on availability) and the convenience of instant approval.

Personal loan

For broader shopping needs during Dussehra, you can consider a personal loan. Instead of being restricted to a particular category of purchase, a personal loan is an instant credit option which is usable for varied expenses.

Here are the key points of difference between these financing options:

Factor	No-cost EMI (if available)	Consumer durable loan	FIRSTmoney Personal loan
Main purpose	Financing a specific purchase via instalments	Buying a home appliance, gadget, or a lifestyle product	Funding a wide range of expenses
Offered by	Offered by banks and NBFCs, with the merchant or brand subsidising the interest.	Banks or lenders, through retailers	Offered by the IDFC FIRST Bank
How it works	Purchase amount is split into EMIs under the offer	Loan amount is used towards a specific purchase	Loan amount is used at your discretion, while you repay it in EMIs
Interest	Interest is offset via discount; GST on interest still applies.	Interest-free EMI on a wide range of products depending on the availability.	Interest rate starting at 9.99% p.a.
Flexibility	Repay in select tenure limits	Repayment depends on the product, lender and credit options	Choose within a tenure range of 9 to 60 months
Disbursal	Cost adjusted against the purchase at checkout	Quick, linked to the purchase	Disbursed within 10 minutes after approval

What is no-cost EMI and how does it really work?

With a no-cost EMI, you can flexibly manage the purchase amount across smaller monthly instalments, while the interest that would normally be charged is offset through the offer.

For example, if you buy a TV worth ₹60,000 for a 6-month no-cost EMI, you could potentially pay ₹10,000 a month, plus applicable processing fee and GST.

When you opt for a no-cost EMI option, it's worth considering the following:

Processing fee: Typically, 1-3% of the transaction amount or a flat rate depending on the type of credit and lender.
Offer restrictions: Applicable to select products, merchants, banking cards, or tenures.

GST on interest: For credit card no-cost EMIs, GST is applicable on the interest component, even when the interest is offset under the scheme.

Repayment period: Typically 6 and up to 12 months in some cases.

When is a personal loan better than a store EMI offer?

A store EMI can look like a better choice as you make your pick of the new TV or fridge at the showroom, but a personal loan can have an edge when:

You're making multiple purchases

A personal loan isn't tied to one appliance; you can use it for varied expenses at your discretion, which is managed under the same EMI.

You need a larger amount

You can borrow anywhere between ₹50,000 and ₹15 lakhs with a FIRSTmoney personal loan to manage all your significant purchases during Dussehra shopping.

You want to borrow funds flexibly

With the on-demand loans facility, you can borrow as and when you need against your approved and available loan offer. Pay interest only on what you use.

You want repayment flexibility

You can choose a tenure ranging from 9 to 60 months to suit your repayment comfort with a FIRSTmoney personal loan.

Zero foreclosure charges

If you borrow with a plan of going debt-free sooner, you need not worry about any foreclosure charges with a FIRSTmoney personal loan.

Sample EMI calculation for a ₹1 lakh personal loan

For instance, if you take a FIRSTmoney personal loan of ₹1 lakh at an interest rate of 9.99% p.a. for 12 months, here's what your repayment could look like:

Particulars	Amount
Loan amount	₹1,00,000
Interest rate	9.99% p.a.
Loan tenure	12 months
Monthly EMI	₹8,791
Total interest payable	₹5,492
Total repayment amount	₹1,05,492

With a fixed monthly EMI, you can plan your festive purchases while spreading the repayment over 12 months.

Note: The calculation is illustrative and assumes a fixed interest rate on a reducing balance. Actual EMIs may vary based on the applicable interest rate, loan terms and additional charges.

Final thoughts

Whether you buy this Dussehra or wait for Diwali, the right financing option can make a big-ticket purchase easier on your budget. Here’s a quick way to choose:

No-cost EMI suits you if you’re buying a single product and the offer covers your model, card, and tenure. Just check the processing fee and GST before you confirm.

A consumer durable loan works best for a single appliance bought at the store, when you want quick approval at checkout without using a credit card.

A personal loan fits if you’re planning multiple purchases, need a larger amount, or want a longer, flexible repayment tenure.

Planning to upgrade more than one appliance this festive season? Check your FIRSTmoney personal loan offer and get funds in 10 minutes.

Frequently Asked Questions

What does no-cost EMI actually mean?

It means you repay the purchase through EMIs without bearing the interest cost under the scheme. However, GST on the interest component and processing fee still applies to credit card no-cost EMIs.

Is a consumer durable loan different from a personal loan?

Yes, a consumer durable loan is generally linked to buying a specific appliance, gadget, electronic, or a lifestyle product, while a personal loan can be used for a wide range of personal expenses.

Are Dussehra deals better than Diwali deals on electronics?

Diwali deals may offer deeper discounts, larger bank cashback offers, and aggressive offers on electronics compared to Dussehra. However, buying during Dussehra may offer better model availability and faster delivery before the peak holiday season.

Can I use a personal loan to buy electronics?

Yes, you can use a personal loan to buy electronics or for any other personal financial need.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirst.bank.in for latest updates.