Washing Machines on EMI: How to Choose the Best Model Within Your Budget

Buying a washing machine is a major purchase for most households. While it simplifies daily chores, the upfront cost can be substantial. That’s where Equated Monthly Instalments (EMIs) come in—making high-ticket items more accessible to consumers. Financial institutions like IDFC FIRST Bank are offering tailored EMI solutions that help ease the burden of large purchases, including home appliances.

What to Consider When Choosing a Washing Machine

Before making a purchase, it’s important to evaluate the right type of washing machine for your needs. Here are key factors to keep in mind:

Type of Machine
•    Top Load: More affordable and easier to maintain. These machines typically last around 15 years and are ideal for people with mobility concerns.
•    Front Load: Known for water and energy efficiency, front-load machines offer advanced features. However, they come at a higher cost and last about 11 years.

Capacity
Choose a machine size based on the volume of laundry your household generates. Larger families may require higher-capacity models.

Energy Efficiency
Look for energy-efficient machines. Though the initial cost might be higher, these models can significantly reduce electricity bills in the long run.

Features and Technology
Modern washing machines come with conveniences like quick wash, digital displays, and even Wi-Fi connectivity. Select features that align with your lifestyle and laundry needs.

Budgeting Wisely
Instead of compromising on quality due to high costs, consider EMI options to spread payments over time, making premium models more affordable.

Making Large Purchases Affordable with EMI

EMIs break down the total cost of a product into manageable monthly payments, often with little to no interest. This allows consumers to purchase appliances like washing machines without depleting their savings or delaying other essential expenses.

IDFC FIRST Bank’s EMI Solutions

IDFC FIRST Bank has introduced a credit card with EMI options that’ll help you cater to everyday needs. The FIRST SWYP Credit Card is designed specifically for those who want the convenience of paying over time without incurring interest.

Key features include:
•    Zero Interest on EMIs: Convert eligible purchases into EMIs with no interest, only a nominal monthly conversion fee.
•    Eligibility Across All IDFC FIRST Bank Credit Cards: EMI options are available for purchases above ₹2,500 across various popular merchants and brands.
•    Prepayment Flexibility: Customers can repay their outstanding balances at any time without penalties.

Value-Added Benefits of the FIRST SWYP Credit Card

Beyond flexible EMIs, the FIRST SWYP Credit Card provides a suite of lifestyle and travel benefits:
•    Welcome Rewards: Earn 1,000 reward points on your first EMI transaction within 30 days of issuance. Spend ₹5,000 in the same period to get an additional 2,000 points.
•    Travel Offers: Access exclusive coupons and discounts from MakeMyTrip and EaseMyTrip—up to ₹1,500 and ₹2,100, respectively. Enjoy up to 20% off on flight and hotel bookings monthly.
•    Everyday Savings: Get 1% fuel surcharge waiver (up to ₹200/month), 25% off on movie tickets, and access to over 300+ year-round merchant offers across brands like Zomato, Nykaa, Dominos, Myntra, and more.
•    Additional Perks: Complimentary roadside assistance worth ₹1,399 enhances the card’s value beyond everyday shopping.

How to Convert a Purchase into EMI

Using the FIRST SWYP card, converting a transaction into EMI is simple:
1.    Select the Transaction: Choose any eligible purchase of ₹2,500 or more.
2.    Choose Your Tenure: Flexible EMI plans start from 3 months, based on your repayment capacity.
3.    Pay a Fixed Fee: Just a flat monthly fee starting from ₹49 + GST. No interest involved.
4.    Convert Online with Ease: Complete the EMI conversion instantly during the OTP verification process, with support for both merchant transactions and statement balances.

Conclusion

Investing in a washing machine is no longer financially daunting thanks to flexible EMI solutions. By carefully considering key factors like machine type, energy efficiency, and budget—and leveraging tools like IDFC FIRST Bank’s credit cards—consumers can make smarter, stress-free purchases. As household expenses continue to rise, such financial products empower buyers to choose quality without compromise.

Disclaimer:
The information provided in this article is for general awareness and informational purposes only. Product features, benefits, and terms mentioned (including those of IDFC FIRST Bank and the FIRST SWYP Credit Card) are subject to change as per the bank's discretion and policies. Readers are advised to verify the latest details directly with the bank or through official channels before making any financial decisions or purchases. This article does not constitute financial advice or a recommendation.