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With summer around the corner, here are 3 appliances to consider upgrading

By Finserv MARKETS - Aug 27,2019
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With summer around the corner, here are 3 appliances to consider upgrading

As Indians, we’re no strangers to scorching summers and the accompanying heatwaves. Every summer, temperatures soar a little bit higher, and so do our electricity bills. Here’s the good news — the mercury may be rising, but you can actually cut down on your bills! By switching to home appliances that efficiently utilize energy, you can keep your bills in check without reducing your consumption. With summer in full swing, here are three appliances you should consider upgrading.

  • Air conditioner

  • Refrigerator

  • Washing machine

Air conditioner

This will arguably be your most-used appliance during the summer, and many homes run multiple units almost throughout the day. That is why it’s so important to choose a model that has the latest energy-efficient technology. You may think that your old window AC is working just fine — but it’s actually guzzling power and running up your bills.

Consider upgrading to an air conditioner that is equipped with the latest inverter technology. An inverter AC is designed to consume 30-50% less units of electricity than a regular AC. In the latter, the compressor will automatically cut off when the temperature of the room reaches the desired level. As the room begins to warm up, the compressor will restart. This puts a lot of strain on the compressor, and the AC unit ends up sucking a lot of power in the process.

An inverter AC simply regulates the amount of power it consumes to maintain optimal cooling levels. This means that the compressor is constantly running, but it will only draw in as much power as it needs to maintain the temperature, thereby reducing its energy consumption.

The price tag on inverter ACs may seem a little steep — but their energy efficiency will benefit you in the long run in the form of considerably lower electricity bills. The Bureau of Energy Efficiency (BEE) rates ACs from 1 to 5 on how energy-efficient they are, so consider investing in a highly-rated model.

Refrigerator

As with ACs, your refrigerator also needs to work extra hard during the summer, around-the-clock. Typically, they account for 15% of your total electric bill. Over the last few years, the energy efficiency of refrigerators has increased by leaps and bounds thanks to the introduction of several new technologies.

Inverter technology is also available in refrigerators, and regulates the power supply to the compressor, saving between 20-40% electricity. Like ACs, choose a model with a high BEE rating, and reap the benefits of your energy-efficient appliances by paying significantly lower electricity bills.

Apart from investing in an energy-efficient and sustainable appliance, upgrading your old refrigerator is also a good idea because of other technological advances. For instance, if you have a flexible budget, you can now opt for models that keep the contents of your refrigerator cool even during prolonged power cuts! This can prove to be a lifesaver because power cuts and load shedding that last for hours on end are all too common during the summer.

Washing machine

The hot, humid weather also means piles of laundry and excessive use of your washing machine in the summer months. This is another appliance that guzzles more electricity than most of the other appliances in your house.

Therefore, if you’re still using an old, top-load machine, consider upgrading to a front-load one. Front-load washing machines use 50% less water and 37% less energy, thereby reducing your expenditure on both. It is recommended to opt for machines with a 5-star BEE rating. Although these highly efficient front-load models are more expensive, washing machines have very long lifespans and you will easily make up the extra cost thanks to the reduced electricity consumption.

But the question remains — what if you don’t have an upfront budget to upgrade your appliances this summer? The answer is simple: A Bajaj Finserv Consumer Durable Loan, available on Finserv MARKETS. A consumer durable loan allows you to fund household appliances, electronics, and gadgets when you don’t want to spend liquid cash upfront.

A consumer durable loan generally provides you with 80-90% of the financing for a product, while you have to shell out the remaining 10-20% as a down payment. Availing a Bajaj Finserv Consumer Durable Loan/Personal Loan on Finserv MARKETS can get you up to 100% of the financing for your purchase. The EMI Store also offers a no-cost EMI option (on selected products), which means that your loan is simply divided into monthly instalments with no interest or extra cost to you.

Now you’re all set to reduce your hefty electricity bills without having to compromise on consumption!

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!

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