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 own 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.
- 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 stay.
- Easy Repayment: Why pay a lump sum amount, when you can buy 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.
- Quick Approval: Don’t worry about missing out on those excellent laptop prices during the sale season! At Upwards, your laptop loan can be approved in just 24 hours or less.
- Affordable EMIs: One of the best things about being able to take a laptop on EMI is that the installments can be very low. They can be easily accommodated in your monthly budget without it being a financial burden
- Low Interest Rates: Taking a consumer durable loan for a laptop purchase can have very affordable interest rates, subject to your CIBIL score and the principal loan amount. Some appliance providers also laptop in EMI option for consumers, many of which are available interest-free if availed during promotional offers. Also, if purchased on a credit card, your issuing bank may offer to convert the entire amount into EMIs at a low interest rate
What are the basic eligibility criteria for applying zero down payment option?
In order to avail a zero down payment option for buying your mobile phone, you must meet the following basic eligibility criteria:
- Income: Minimum net income of Rs. 15,000 per month
- Age: Between 21 to 55 years of age
- Residential status: Must be an Indian resident
- CIBIL score: Minimum 630+
How Does No-Cost EMI Work?
No-cost EMI is when you pay an EMI provider for only the product price equally divided over the selected repayment tenure. There is no interest charge levied on the EMI. For example, let’s assume you buy a laptop on EMI for Rs. 36,000 on a 12 month tenure. The laptop EMI comes to Rs. 3,000 each month for a total of 12 months, which comes to a total of Rs. 36,000.
How to Avail No-Cost EMI?
You can avail a no-cost EMI from online vendors like Flipkart or Amazon. During the checkout process, there will be an option where you can avail no-cost EMI on your purchase. Many credit cards provided by banks may offer to convert purchases into a no-cost EMI. There are also many offline retailers that can provide a no-cost EMI option for your laptop.
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 HR department
How to Buy Laptop on EMI with Upwards?
You can finally get the laptop of your dreams with a personal loan from Upwards! Simply download the app and apply to get your personal loan for laptop.