CONSUMER GOODS LOAN - ABRUS KRISHNA FINANCE
Service Overview
The Consumer Goods Loan from Abrus Krishna Finance enables customers to purchase essential household and personal-use products through a legally compliant, simple, and transparent loan facility. This loan is designed for individuals purchasing items such as home appliances, electronics, furniture, mobile phones, two-wheeler accessories, kitchen equipment, and other permitted consumer goods.
As a registered entity under the Kerala Money-Lenders Act, 1958, Abrus Krishna Finance provides a fully compliant loan process where the loan amount is advanced to the customer (or directly to the partnered retail store), while maintaining strict transparency, responsible lending, and accurate documentation.
This service is executed through a Loan Contract (Customer ↔ Abrus Krishna Finance) and a Purchase Contract (Customer ↔ Retail Partner), ensuring full legal clarity and separation of roles. Ideal for individuals looking for easy instalment financing without credit cards or hire-purchase complications.
Key Features
- Fast Approval with basic KYC and income check
- Small & Medium Ticket Loans tailored for consumer goods
- Partnered Store Purchases with direct-to-merchant payment option
- Flexible Repayment Cycles (weekly/monthly, based on income)
- Simple Interest Only (no compounding, fully KML compliant)
- No Collateral Required
- Transparent Terms—no hidden fees or unauthorized charges
- Legally Valid KML Agreement executed at the branch
- Repeat Loan Eligibility for good repayment customers
- Merchant Network Support to ease product selection and billing
- Quick Disbursal after documentation
Eligibility Criteria
- Applicant must be 18 years or above
- Must be a resident of Kerala
- Must have a steady and verifiable source of income (salary, business income, pension, rental income, or daily wages as per policy)
- Mandatory KYC completion
- Must demonstrate repayment capability
- No unresolved defaults or fraudulent financial history
- Must complete branch visit for signing the loan agreement (mandatory under KML Act)
- Aadhaar Card
- PAN Card
- Address Proof
- Recent Photograph
- Signature Proof
- Income Proof (any one):
- Salary slip
- Bank statement
- Business proof
- Pension document
- Wage/occupation confirmation (as per internal policy)
- Mandatory Forms:
- Consumer Goods Loan Application Form
- KML-Compliant Loan Agreement
- Guarantee Form / Post-dated Cheques (if required as per scheme)
Most Consumer Goods Loans are unsecured.
Depending on the loan scheme and ticket size, the following may be applicable:
- Personal Guarantee
- Income/Salary Confirmation
- Bank Statement Verification
- PDCs / Guarantee Note
These are optional and depend on internal policies.
Consumers may use this loan to purchase items such as:
- Household appliances (Refrigerator, Washing Machine, AC, TV, Fan, Mixer, Grinder)
- Consumer electronics (Mobile Phones, Laptops, Tablets, Smart Devices)
- Furniture and home essentials
- Kitchen equipment & utensils
- Mattresses, cots, cupboards, and home fittings
- Two-wheeler accessories
- Home utility items (water purifier, pumps, stabilizers, inverter, battery, etc.)
Not Allowed:
- Gold purchase
- Real estate or construction
- Non-consumer goods
- Investment or business-related purchases
- Services that are not classified as “goods”
- Interest charged strictly within the permissible limits under the Kerala Money-Lenders Act
- Simple interest only — compounding is not permitted
- All charges clearly communicated before sanction
- Customer receives:
- Loan Agreement Copy
- Repayment Schedule
- Receipts for all payments
- ll transactions recorded in statutory registers as required under KML
- No hidden charges or unauthorised penalties
- Direct payment to store is done only after customer consent
This ensures full transparency and legal validity of the loan.
Multiple schemes are offered based on:
- Borrower’s income
- Product type
- Loan value
- Repayment capacity
- Internal policies
- Market conditions
Scheme options (interest, tenure, offers) will be explained at the branch.
All schemes are subject to periodic updates based on company policy.
Frequently Asked Questions
What items can I buy under the Consumer Goods Loan?
Any approved household or personal-use consumer goods.
Will you give money directly to the shop?
Yes, based on policy; this ensures transparent purchase.
Do you offer EMI or weekly payments?
Yes — weekly or monthly, based on income.
Is collateral required?
No, this is an unsecured loan.
How fast is the approval?
Same-day approval is possible after document verification.
Do I need a co-applicant?
Not mandatory, unless required for specific risk profiles.
Is branch visit compulsory?
Yes — document signing must be done at the branch as per KML Act.
Can I buy goods from any shop?
Yes — from partnered shops or customer-chosen shops (with verification).
What if repayment is delayed?
Simple interest continues as per agreement; reminders provided.
Can the loan be renewed or topped up?
Yes, for customers with good repayment history.
Apply for a Consumer Goods Loan Today
Get easy financing for appliances, electronics, and essential goods through our trusted network of retail partners — with complete transparency and KML-compliant documentation.