All you need to know about Shopping Loans

Added one more dress to your wish list but don’t have the cash to buy it? Got a limited time special discount on a new mobile but too low on funds to act on it? Let’s face it – once in a while we have all missed out on amazing deals because we didn’t have cash to spare immediately. This is where a shopping loan comes in handy.

With a personal loan for shopping you can move the items from your shopping wish list to your shopping cart without compromising your monthly budget. Offered by select digital lenders in India, shopping loans are a convenient option to get instant access to funds so that you can make the most of limited time shopping deals.

Personal Loan for Shopping- Features and Benefits

  • Loan amount: Ranging from as low as Rs. 500 to as high as Rs. 2 lakh, personal loan for shopping can be used to buy any lifestyle product or luxury item like clothes, appliances, makeup kits, televisions, mobile phones, jewelry and more.
  • Easy application process: Applying for a shopping loan online is easy as it involves filling up a simple online application form. The loan will be disbursed subject to meeting the lender’s eligibility criteria and submission of key documents as specified by the prospective lender.
  • Access to top retailers: Currently digital lenders provide these loans when you shop with top online/offline retailers like Amazon, Flipkart, Myntra, BigBazaar, etc. This ensures that you don’t miss the biggest deals on offer from these major retailers
  • No Cost EMI option: For convenient and hassle-free repayment, many shopping loans feature retailer specific or product specific no-cost EMI offers. However, some lenders may charge a nominal interest rate on this loan
  • Flexible tenure: Ranging from a few days to few months, the flexible tenure offered by lenders on a personal loan for shopping lets you choose a desired repayment tenure as per your repayment ability
  • Minimum documentation: Shopping loans feature minimal documentation requirements hence disbursal of the loan is quick, usually within a few minutes. Actual disbursal time may however vary based on applicant profile
  • Exciting offers: When you shop for a product from a partner retailer, you may be eligible for additional lender-specific offers like cashback, discount, etc. in addition to offer(s) provided by the retailer.

Eligibility Criteria for Shopping Loans

While the specific eligibility criteria for a shopping loan may vary from one lender to another, the following are some of the common eligibility requirements:

  • You should be at least 21 years old
  • Your maximum age should be 65 years
  • You should be a salaried individual
  • Your minimum monthly income should meet the predefined criteria of the lender

Personal Loan for Shopping- Documents Required

  • ID Proof: Aadhaar, PAN, Voter ID, etc.
  • Address proof: Utility Bills, Ration Card, etc.
  • Income Proof: Salary Slip, Form 16, bank account statement, etc.

Top Digital Lenders Offering Personal Loan for Shopping

  • KreditBee: KreditBee offers a personal loan for shopping starting from Rs. 1,000 and upto Rs. 2 lakh. The process involves submission of minimum documents and allows quick disbursal
  • EarlySalary: EarlySalary allows you to avail a shopping loan instantly with the option of no cost EMI when shopping from top retailers like Amazon and Flipkart. Also, you can conveniently repay the loan within a flexible tenure ranging from 3 to 6 months
  • Stashfin: Starting from Rs. 500, the personal loan amount on offer for shopping at Stashfin can be as high as Rs. 5 lakh. This amount can be repaid within a tenure ranging from 3 to 36 months
  • ZestMoney: If you have already activated your ZestMoney credit limit, you can easily shop at partner stores with the option of EMI repayment over a period of 9 to 24 months. Other benefits on offer in case of personal loan for shopping include zero foreclosure and nil processing fees.

How to apply Personal Loan for Shopping through ?

  • Go to the shopping loans application page on
  • Fill the form with basic information like full name, gender, mobile number, email address, date of birth, monthly income, etc.
  • Click on ‘Proceed’ to view available offers from multiple lenders sorted according to chances of approval
  • Choose a shopping loan offer as per your requirement and submit your application online
  • Subsequently you selected lender’s representative will contact you to guide you through the rest of the process

Some common questions about shopping loans

Is it possible to prepay my Personal Loan for shopping? What would be the charges?

Yes, you can prepay the personal loan for shopping. When prepayment charges are applicable, such charges vary from one lender to another.

What happens if I don’t repay the shopping loan on time?

If you fail to repay the shopping loan on time or miss an EMI, your credit score will get affected negatively. This is because a loan of shopping is designated as a personal loan by most lenders.

How long it take for a Personal Loan for Shopping to get disbursed?

If you have a prior relationship with the shopping loan provider, your loan may be disbursed in minutes. However, actual loan disbursal times may vary from one lender to another.

Can I avail multiple Personal Loans for shopping from the same lender?

The lender might allow you to avail one loan at a time or multiple loans at the same time.