Gone are the days when laptops were considered a commodity or essential of business executives alone. It has become an essential tool for students as well where some colleges have even made it mandatory that students own one. Laptops due to the advantage of mobility and small size are now preferred to the bulky and cluttering PCs making it an ideal personal computer for all your multimedia and processing needs. The reduction in price has also added to the growth of laptop usage.

Though the prices have reduced than what they were, laptops are still a pricey affair especially for parents to get a laptop for their child after paying hefty college tuition fees.

Here are a few options for those thinking of buying laptops without credit cards whether online or from a physical store and any brand – HP, Lenovo, Apple, Dell etc.

EMI Cards

Bajaj Finserv’s EMI Card is one option to buy your dream laptop. An EMI Card is essentially a pre-approved loan which converts various purchases into easy EMIs. You can additionally choose your tenure and the amount that you are comfortable with to pay as EMIs. If you want to pay off your purchase earlier, there will be no penalty on foreclosure.

Benefits of Buying a Laptop on EMI

Considering the cost, you may think that the only way to obtain the laptop finance amount is by utilizing your savings. However, looking at the advantages of buying the laptop on EMI, it makes complete sense to go for EMIs rather than shelling out total cash.

  1. Maintains Your Savings: Anyone who buys laptops on EMI won’t be required to have the laptop finance amount upfront. You can simply pay the laptop EMI from your monthly salary, and allow your savings to remain untouched.

  2. Easy Repayment: Why pay a lump sum amount, when you can buy a laptop on EMI? Purchasing a laptop on EMI provides a flexible repayment tenure, usually ranging from 6 to 36 months, and you can select the duration that is suitable for you.

  3. Quick Approval: Don’t worry about missing out on those excellent laptop prices during the sale season! In some cases, our laptop loan can be approved in as little as 24 hours.

  4. Affordable EMIs: One of the best things about being able to take a laptop on EMI is that the instalments can be very low. They can be easily accommodated in your monthly budget without it being a financial burden

Consumer Durable Loans:

There are many finance companies like Bajaj Finserv, Tata Capital, CapFirst, and Home Credit that offer consumer durable loans, which you could use to buy your laptop on EMIs. You can shop for your favourite laptop at one of the partner outlets and apply for the loan at the bill counter or apply for it online on their website. Documentation is minimal. If your documents are found to be in order, you will be approved, and you can walk out with your dream laptop in your hand the very same day!

Low-Interest Rates: Taking a consumer durable loan for a laptop purchase can have very affordable interest rates, subject to your credit score and the principal loan amount. Also, if purchased on a credit card, your issuing bank may offer to convert the entire amount into EMIs at a low-interest rate

Lending Technology Platforms:

With new advances in financial technology every day, you can now buy your laptops on EMI with the help of online lenders, using just your existing debit card! You can take advantage of various online lending platforms that let you shop using your debit card and convert it into easy EMIs. Thanks to platforms like ZestMoney, Finomena, and Fast Banking (now Kissht), you can shop with your debit card and have your purchase converted into easy EMI. Approval is fast and documentation required is minimal.

EMI on Your Existing Debit Card:

Banks like Axis, HDFC and ICICI Bank let their customers buy laptops and other gadgets on EMI using their debit card! If you are a customer of any of these banks, you can simply buy your laptop by visiting the partner outlet where this offer is available. You can check with the bank’s website for details on partner outlets and eligibility. Keep in mind that you will need the requisite balance in your savings to account for the transaction to be approved.

Documents Required for Buying Laptop on EMI

  • One passport size colour photograph

  • Address Proof: Aadhaar card, Passport, Utility Bill, or Ration card

  • Photo Identity Proof: Passport, PAN card, Aadhaar card, Driver’s License, or Voter ID card

  • Salary Proof: Last 3-6 months’ bank statements, salary slips, and Form 16

  • Job Continuity Proof: Employment contract/job offer letter, or letter from the HR department

End Note

Laptops are now a necessity and owning a laptop that meets all your needs in terms of features, configuration and settings, has become essential. But, buying a laptop that meets all your requirements can often come with a hefty price tag. You can choose any of the above-mentioned methods which you are comfortable with for getting your favourite laptop. Happy shopping!!