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Laptop on EMI

Laptops have become a quintessential part of human life. Be it for academic purposes, professional requirements, or personal reasons, having a good laptop is always positive. When it comes to technology, these sleek and portable computers leave no room for wanting more. With its stunning graphics to lightning speed functioning, you deserve an excellent laptop that enhances your screen life. However, excellent laptops have the tendency to be quite expensive. 

Do not let financial constraints hold you back from accessing the technology you want anymore. By taking a personal loan, you can acquire a laptop on loan and repay it in easy installments using our convenient EMI options. Whichever device you choose, we are here to guide you through the step-by-step process of obtaining a laptop on loan and inform you on how you can attain a laptop on EMI.

Why Should You Take a Loan for Buying a Laptop?

In today’s digital age, owning a reliable laptop is no longer a luxury but a necessity. It enables you to stay connected, enhance your productivity, and access a world of information. However, the upfront cost of a high-quality laptop may be a barrier for many individuals. Here are a few compelling reasons why taking a loan for buying a laptop can be a smart decision: 

  • Immediate Access to Technology 

 A laptop loan allows you to acquire the laptop you need without having to wait until you have saved up enough money. By taking a loan, you can enjoy immediate access to the latest technology and utilize its benefits to enhance your work, educational, or personal pursuits. 

  •  Spread Out the Cost 

A laptop loan helps you break down the cost of the laptop into manageable monthly installments. Instead of paying a lump sum upfront, you can spread out the financial burden over a repayment period that suits your budget.  

  • Upgrade to a Better Model 

With the rapidly advancing technology, laptops become outdated relatively quickly. By taking a loan, you have the flexibility to choose a laptop with better specifications, higher performance, and improved features. This ensures that you stay up to date with the latest technology trends and enjoy a more seamless computing experience. 

  • Tax Benefits 

In some cases, the interest paid on a laptop loan may be eligible for tax deductions. For example, if you have bought a new laptop for professional purposes in India, you may be able to claim deductions on the interest portion of the loan, reducing your overall tax liability.  

  • Free Yourself from Budget Constraints:  

Nowadays, laptops come in various price ranges, from flagship to high-end. With a laptop loan, you do not have to worry about the budget, and you can choose a device that has all the specs you want without compromising on quality.

Which Laptop Should You Buy on EMI?

Lenders offer loan options for all brands and models of laptops with absolutely zero restrictions. Following are some of the brands of laptop you can easily purchase on EMI:

Dell Laptop:  Dell laptops often feature durable build quality and reliable performance. Some of their prominent specifications include high-resolution displays, powerful processors (such as Intel Core i5 and i7), ample RAM (typically 8GB or more), and fast solid-state drives (SSDs) for quick storage access. 

HP Laptop:  HP laptops are often praised for their sleek designs, robust performance, and innovative features. They come with various processor options, ranging from entry-level Intel Core i3 to high-performance Intel Core i7 or AMD Ryzen processors. HP laptops often have vibrant displays, ample RAM and storage configurations, and advanced connectivity options. Some models also include touchscreens and stylus support for added versatility.

Lenovo Laptop: Lenovo laptops are popular among business professionals and students alike. They typically offer a combination of performance, functionality, and affordability. Lenovo laptops often feature ergonomic keyboards, long battery life, and solid build quality. They are available in different form factors, including traditional clamshell designs and 2-in-1 convertible models with touchscreens. 

MacBook: You can also get a loan for a Macbook or Macbook Pro on EMI. MacBooks are designed and manufactured by Apple. They run on macOS, Apple’s operating system, and offer a unique user experience. MacBooks are known for their sleek and premium designs, high-resolution Retina displays, and excellent build quality. MacBooks offer seamless integration with other Apple devices and services, and they come with useful features like FaceTime HD cameras, Touch ID for secure authentication, and macOS-specific software and applications.

Step-by-Step Process to Get a Laptop on EMI

Follow these six simple steps to become the owner of a flashy new laptop today:

Step 1: Research and Choose Your Laptop:

Begin by researching and selecting the laptop that suits your requirements and budget. Consider factors such as processing power, memory, storage capacity, and design. Ensure that the chosen laptop aligns with your professional or personal needs.

Step 2: Calculate the Loan Amount:

To determine your loan amount, you need to consider the cost of the laptop, additional accessories, and any applicable taxes. Use Finnable’s EMI Calculator, available on our website or on the Android app, to estimate the monthly installments based on different loan amounts, interest rates, and repayment tenures.

Step 3: Check Eligibility and Apply:

Visit your lender’s website to check your eligibility for a laptop loan. Make sure that you have the necessary documents that are up to date and correct. Attach them with the application and submit the loan application with accurate details.

Step 4: Loan Approval and Disbursement:

Once your application is approved, the loan amount will be directly disbursed to your bank account, allowing you to proceed with your laptop purchase.

Step 5: Purchase the Laptop: 

Using the disbursed loan amount, make the purchase from a reputable retailer or online platform. Compare prices, avail discounts if available, and ensure that the laptop meets your desired specifications. Retain the invoice and warranty documents for future reference.

Step 6: Repayment through EMI:

Many loan providers offer flexible EMI options to repay your laptop loan. Determine the repayment tenure that suits your financial capabilities and set up an auto-debit facility or make timely manual payments to repay the loan amount in regular installments.

To complement your brand-new laptop, consider buying an iPhone on loan and become an absolute technocrat!

Eligibility Criteria for Buying a Laptop on EMI

To get approved for a laptop loan in India, you may need to meet the following criteria: 

  • Age: You should be between 21-65 years old. 
  • Citizenship: You should be a registered India citizen 
  • Employment: You should be permanently employed with a private or public organization for at least six months.
  • Income: You should have a minimum salary of Rs. 15,000 per month.

Documents Required

  • Identity Proof- Aadhaar Card, PAN Card, Driver’s license, etc. 
  • Address Proof- Aadhaar Card, Passport, Utility bills, etc. 
  • Income Proof- Previous six months’ salary slips 
  • Bank Statements from previous two years.

How to Apply for a Laptop on EMI

Here is the stepwise process on how to get a laptop on EMI without down payment:

  1. Choose the laptop you want: Do your research and find the laptop that meets your needs and budget.
  2. Check if the laptop is available on EMI: Most major retailers offer laptops on EMI, but not all of them. Check the product page to see if EMI is an option.
  3. Choose an EMI plan: There are different EMI plans available, with different interest rates and repayment tenures. Choose the plan that best suits your budget and repayment ability.
  4. Apply for EMI financing: If you don’t have a credit card, you can apply for EMI financing through a financial institution. The application process is usually quick and easy.
  5. Make your down payment: If you’re required to make a down payment, make it at the time of purchase.
  6. Start making your EMI payments: Your EMI payments will be debited from your bank account on a monthly basis.

Wrapping it Up

Taking a loan to buy a laptop offers numerous advantages, including immediate access to technology, spreading out the cost, upgrading to better models, and potential tax benefits. Many Indian lenders offer competitive interest rates, convenient repayment options, and a streamlined application process. However, it’s essential to consider interest rates, loan eligibility, documentation requirements, and budgeting before making a decision. Apply for a personal loan to purchase a laptop on EMI today and get equipped with the latest tech.

Frequently Asked Questions (FAQs)

Lenders provide laptop loans for a wide range of brands and models, giving you the freedom to choose the laptop that suits your needs.   

To apply for a laptop loan in India, you will need to submit documents such as identity proof, address proof and income proof.

Yes, loan providers offer laptop loans for salaried individuals. However, the eligibility criteria and document requirements may differ.

Yes, some lenders offer flexibility in choosing the EMI amount and tenure for your laptop loan. Based on your loan amount and repayment capacity, you can select an EMI amount and tenure that aligns with your financial goals.