Laptop on EMI

Choosing to buy a laptop on EMI allows individuals, especially students, to bring home a laptop through easy installment payments. Besides that, one can also buy laptop on EMI without a credit card. Some companies also offer "no cost EMI," which means you won't pay extra interest. It's a useful option that helps you split the total cost into monthly installments and make the payment process more manageable.

Laptop Loan Interest Rate & Charges

When choosing a buy a laptop on EMI, it is essential to understand the financial implications. Laptop loans are available from a variety of lenders, including major banks and NBFCs (Non-Banking Financial Companies), with variable fees and interest rates.

With Buddy Loan, you can apply to the best lenders and buy a laptop on EMI without a credit card at an affordable interest rate of 11.99% p.a. and a flexible repayment tenure of up to 5 years.

Interest Rate 11.99%* p.a. onwards
Loan Amount Up to 15 lakh
Tenure Up to 5 years
*Note- The interest rates mentioned are subject to change. Do visit the website for more information.

Laptop Loan Lenders

The finance landscape is filled with banks and NBFCs that offer consumer durable loans like loan for laptop purchase. This might make choosing the right lender difficult for you. Check out the table below with the top lenders including both banks and NBFCs along with their respective interest rates and loan amounts and choose a suitable lender based on your needs.

Top Banks and NBFCs to buy Laptop on EMI

Top Lenders Loan Amount Interest Rates (p.a.)
HDFC Bank Up to ₹40 Lakhs 10.50% onwards
SBI Bank Up to ₹20 Lakh 11% onwards
Axis Bank Up to ₹15 lakhs 10.25% onwards
ICICI Bank Up to ₹50 Lakh 10.50% onwards
MoneyTap Up to ₹5 Lakh 13% onwards
Buddy Loan Up to ₹15 Lakh 11.99% onwards
Loanbaba Up to ₹1 Lakh 36.5% onwards
PaySense Up to ₹5 Lakh 16% onwards
Phocket Up to ₹1 Lakh 30% onwards
Pocketly ₹500 - ₹10,000 24% onwards
Navi ₹10,000 Onwards 9.9% onwards
Note- The interest rates mentioned are subject to change. Do visit the website for more information.

Laptop Loan Eligibility Criteria

Most lenders set some criteria that you must meet in order to be eligible for a laptop loan. Lenders usually take into account variables including income, credit score, and employment status. Before you apply for a loan to buy a laptop, make sure you meet these requirements.

Age:between 21 to 60 years.

Income: Minimum of ₹15,000 per month

Employment: salaried individuals should have a job with a reputable company.

Credit Score: above 750 with good credit history.

Residency: must be an Indian citizen.

Are you unsure about your credit score? You can check your credit score for free!

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Calculate EMI for Your Laptop Purchase

Calculating the EMI is important before opting for a laptop loan. To calculate the monthly installment using an online EMI calculator based on the loan amount, interest rate, and tenure.

Monthly EMI 86
Principal Amount 1,000
Total Interest 32
Total Amount 1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

You can also calculate the EMI for your loan manually using a formula. Check out the example given below.

The following formula can be used to calculate the EMI for a loan amount of Rs. 1,00,000 with an interest rate of 12% over a period of 12 months:

EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]


P = Loan Amount

R = Monthly Interest Rate

N = Loan Tenure in months

Now, plug these values into the formula:

P= 100000

R= 12%
N= 12

EMI= [1,00,000 x 0.01 x (1+0.01)^12] / [(1+0.01)^12 - 1]

EMI= 8,885

Therefore, the EMI for the given loan details would be approximately ₹8,885.

Documents Required For Online Laptop Loan

Be ready with the necessary documents to speed up the laptop loan application procedure. Documents such as identity proof, address proof, income proof, and occasionally a photograph are usually needed. What you would need to submit is as follows:

Identity Proof: choose from an Aadhar Card, Passport, Voter ID, or Driver's License.

Address Proof: options include an Aadhar Card, Utility Bills (Electricity, Water, Gas), or Rental Agreement.

Income Proof: provide Salary Slips, Bank Statements, and Income Tax Returns.

For Salaried Individuals: an Employer's Certificate is required.

Photos: include passport-sized applicant photographs.

Features & Benefits of Lapton loan

Check out some of the vital features and benefits associated with a laptop loan, such as flexible repayment options, zero collateral loans, etc.

Quick Approval

Get your loan approval within minutes.


Get your loan amount without pledging your assets.

Affordable Interest

Interest rates starting at just 11.99% p.a.

Less Documentation

Simple E-KYC documentation process

Flexible Repayment

Choose your repayment tenure up to 5 years.

No Hidden Charges

Zero hidden charges and penalties.

Steps to Apply for Laptop Loan

Follow these steps to buy a Laptop on EMI through Buddy Loan:

Step 1: - Visit or Download & install the Buddy Loan app (Android or iOS).

Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.

Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option

Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).

Step 5: Enter your work details (Including company name, years of service and Designation)

Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)

Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.

Ready to take next step ?

Frequently Asked Questions

You can buy a laptop on EMI using a personal loan, debit card EMI, or Buy Now Pay Later (BNPL) option.

You can buy a laptop on EMI by using credit card, debit card, BNPL, or personal loan.

Yes, you can buy a laptop and pay later using an EMI plan. However, you will need to pay interest on the loan.

Yes, students can typically get a loan for a laptop, especially if they meet the eligibility criteria set by lenders or retailers.

The age limit for laptop EMI may vary depending on the financing option and the lender.

The minimum CIBIL score required for a laptop EMI varies by lender, but a good credit score is generally beneficial for loan approval and favorable terms.

EMI can be risky if you do not make your repayments on time. If you default on your EMI payments, you may face late payment fees, penalties, and even legal action.

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