Home Finance Buying A Laptop On Emi Without Down Payment

Buying A Laptop On Emi Without Down Payment

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Buying A Laptop On Emi Without Down Payment
Buying A Laptop On Emi Without Down Payment

Laptops are a disruptive innovation in the field of computers. What comes to our mind when we think of computers is the big grey box. One would not have imagined that this box could be made into a portable form. Laptops have improved processing speed, great graphics, and better storage and memory technologies. With better technology comes a higher price. But this does not stop one from buying a good laptop. One can purchase laptops like Lenovo laptops on EMI. The EMI option in purchasing laptops has made the dream of millions of people of getting their dream laptops true.

Banks do not usually offer loans on laptops, but there are Non-Banking Companies (NBFC) from which one can get a loan to buy a Laptop on EMI. The laptop dealers have contact with these NBFCs.

Benefits of Buying a Laptop on EMI:

  1. You need not compromise your savings: If you buy a laptop on loan, you need not touch your savings. You can manage to repay the loan along with your monthly expenditure.
  2. More manageable Repayment: Rather than paying in a single go, one can pay small amounts in each instalment.
  3. Low-interest rate: The interest rate for the loan is comparatively less when applied through the dealer.
  4. Instant Approval: If one takes a loan for the appliance through the dealer, the loan gets instant approval.

How does it work?

Down payment refers to paying a certain percentage of the total price of the object initially. No cost EMI without a down payment means that one can pay the total amount as small instalments without making a down payment. There will not be any other additional charges to be paid.

Eligibility criteria for availing of a no-cost EMI loan

  1. You should be over 21 years.
  2. One must have a stable income source.
  3. One must be an Indian resident.

Apart from these, there can be other eligibility criteria depending on the organization giving you credit.

What are the documents required?

  1. Identity proof
  2. Address proof
  3. Filling the required documents from the organization lending the loan.

Where can one buy a laptop on no-cost EMI?

By following these ways, one can buy a Laptop at no cost EMI.

  1. Online platforms: While you buy the laptop from online shopping apps like Amazon or Flipkart, you can choose the no-cost EMI in the payment option. You can select your debit or credit card, repayment tenure, and check out. Once the process is approved, they will deliver the product. The payment gets automatically deducted from the respective account you have given the card details.
  2. Offline stores: If you are buying the laptop from a brick-and-mortar store, you will have to produce the required documents and fill out the forms at the store. Post this, and once your request is approved, you can purchase the laptop. The money will get debited similarly to in an online store.

Thus the price of laptops is no longer a barrier to buying your dream laptop. The availability of laptops like has indeed been a great blessing.

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