No cash available? Bring 5 laptops of Rs 40K-50K on consumer durable loan
Last Updated : June 21, 2016, 12:06 p.m.
Laptops are increasingly becoming the mean to live the life these days. It's not only the requirement of technical graduates and engineers any more but it has become the necessity of all. Be it the students, top marketing professionals or even housewives, laptop is being used by everyone. Sometimes, you may have heard working class doing the office work at home via laptop or the personal computer (PC). Laptop, however, is preferred over PC because of its portability.
You have the chance to buy five laptops under the range of Rs 40,000-50,000. But if you do not have the requisite cash, you can then take consumer durable loan to buy these laptop from a list of lenders such as HDFC Bank, Axis Bank, State Bank of India, ICICI Bank for a period of 1-3 years. Loan can be financed upto 80%-100% of the price of the product based on your monthly income and repayment capacity. Without wasting any time, let's get down to the laptops that you can buy on loan.
Laptops
HP Pavilion 15 nOO7AX
The laptop offers 15.6 inch LED display and incorporates a 2GHz AMD A10 APU processor. Powered by Microsoft Windows 8 operating system, the 8GB RAM device features 2GB AMD Radeon HD 7620G8670M GPU and DVD writer. The price of the product is Rs 46,000 (Estimated).
Table showing the EMIs and interest on buying HP Pavilion 15 nOO7AX laptop on consumer durable loan from select lenders (Assuming the minimum monthly income to be Rs 20,000)
| Bank/NBFC Name | Loan Amount | Tenure | Interest Rate | Processing Fee | EMI | Interest Payout | Total Payout (Principal+Interest) |
|---|---|---|---|---|---|---|---|
| HDFC Bank | Rs 46,000 | 3 years | 16%-20% | Rs 920 | Rs1,617-1,710 | Rs12,220-15,543 | Rs58,220-61,543 |
| SBI | Rs 41,400 | 3 years | 12.60%- 15.10% | Rs 418.14 | Rs1,387-1,437 | Rs8,531-10,338 | Rs49,931-51,738 |
| Axis Bank | Rs 41,400 | 3 years | 11.50%-24% | Rs 621-828 | Rs1,365-1,624 | Rs7,747-17,073 | Rs49,147-58,473 |
| Tata Capital | Rs 39,100 | 2 years | 12.99%-19% | Rs 489-978 | Rs1,859-1,971 | Rs5,509-8,203 | Rs44,609-47,303 |
Read to know more about Axis Bank Personal loan
Lenovo B5070 59436068
The 15.6 inch LED display laptop features 2GHz Intel Core i7 processor, 6GB RAM, 2GB ATI JET LE R5 M230. The device incorporates Microsoft Windows 8 operating system with 1TB hard drive storage. The price of the product is Rs 50,000 (Estimated).
Table showing the EMIs and interest on buying Lenovo B5070 59436068 laptop on consumer durable loan from select lenders (Assuming the minimum monthly income to be Rs 20,000)
| Bank/NBFC Name | Loan Amount | Tenure | Interest Rate | Processing Fee | EMI | Interest Payout | Total Payout (Principal+Interest) |
|---|---|---|---|---|---|---|---|
| HDFC Bank | Rs 50,000 | 3 years | 16%-20% | Rs 920 | Rs1,758-1,858 | Rs12,220-15,543 | Rs58,220-61,543 |
| SBI | Rs 45,000 | 3 years | 12.60%- 15.10% | Rs 418.14 | Rs1,508-1,562 | Rs 9,273-11,237 | Rs54,273-56,237 |
| Axis Bank | Rs 45,000 | 3 years | 11.50%-24% | Rs 621-828 | Rs1,484-1,765 | Rs 8,421-18,557 | Rs53,421-63,557 |
| Tata Capital | Rs 42,500 | 2 years | 12.99%-19% | Rs 489-978 | Rs2,020-2,142 | Rs 5,988-8,917 | Rs48,488-51,417 |
Toshiba Satellite C50-Ax3110
The laptop has a 15.6-inch (1366x768px) LED display, 2.5 Ghz Intel i5 processor, 4GB RAM, 500 GB hard drive storage. The product, which runs on Microsoft Windows 8.1 operating system, inocrporates 2GB Nvidia GeForce 710M, DVD writer. The laptop is available at a price of Rs 49,000 (Estimated).
Table showing the EMIs and interest on buying Toshiba Satellite C50-Ax3110 laptop on consumer durable loan from select lenders (Assuming the minimum monthly income to be Rs 20,000)
| Bank/NBFC Name | Loan Amount | Tenure | Interest Rate | Processing Fee | EMI | Interest Payout | Total Payout (Principal+Interest) |
|---|---|---|---|---|---|---|---|
| HDFC Bank | Rs 49,000 | 3 years | 16%-20% | Rs 920 | Rs1,723-1,821 | Rs13,017-16,557 | Rs62,017-65,557 |
| SBI | Rs 44,100 | 3 years | 12.60%- 15.10% | Rs 418.14 | Rs1,477-1,531 | Rs9,087-11,012 | Rs53,187-55,112 |
| Axis Bank | Rs 44,100 | 3 years | 11.50%-24% | Rs 621-828 | Rs1,454-1,730 | Rs8,253-18,186 | Rs52,353-62,286 |
| Tata Capital | Rs 41,650 | 2 years | 12.99%-19% | Rs 489-978 | Rs1,980-2,100 | Rs5,868-8,738 | Rs48,488-51,417 |
Dell Inspiron 15 3000 Series
The laptop features 15.6-inch (1366x768px) LED display with touchscreen, 1.7 Ghz Intel i5 processor, 4GB RAM, 1TB hard drive storage, 2GB Nvidia GeForce 840M, DVD writer. Powered by Microsoft Windows 8 operating system, the laptop is offered at a price of Rs 49,000 (Estimated).
Table showing the EMIs and interest on buying Dell Inspiron 15 3000 Series laptop on consumer durable loan from select lenders (Assuming the minimum monthly income to be Rs 20,000)
| Bank/NBFC Name | Loan Amount | Tenure | Interest Rate | Processing Fee | EMI | Interest Payout | Total Payout (Principal+Interest) |
|---|---|---|---|---|---|---|---|
| HDFC Bank | Rs 49,000 | 3 years | 16%-20% | Rs 920 | Rs1,723-1,821 | Rs13,017-16,557 | Rs62,017-65,557 |
| SBI | Rs 44,100 | 3 years | 12.60%- 15.10% | Rs 418.14 | Rs1,477-1,531 | Rs9,087-11,012 | Rs53,187-55,112 |
| Axis Bank | Rs 44,100 | 3 years | 11.50%-24% | Rs 621-828 | Rs1,454-1,730 | Rs8,253-18,186 | Rs52,353-62,286 |
| Tata Capital | Rs 41,650 | 2 years | 12.99%-19% | Rs 489-978 | Rs1,980-2,100 | Rs5,868-8,738 | Rs47,518-50,388 |
HP Pavilion 15-p201tx
The laptop features 15.6-inch (1366x768px) LED display, 2.1GHz Intel i3 processor, 4GB RAM, 1TB hard drive storage and 2GB Nvidia GeForce 830M, DVD writer. The product, powered by Microsft Windows 8.1 operating system, is available at a price of Rs 45,000 (Estimated).
Table showing the EMIs and interest on buying HP Pavilion 15-p201tx laptop on consumer durable loan from select lenders (Assuming the minimum monthly income to be Rs 20,000)
| Bank/NBFC Name | Loan Amount | Tenure | Interest Rate | Processing Fee | EMI | Interest Payout | Total Payout (Principal+Interest) |
|---|---|---|---|---|---|---|---|
| HDFC Bank | Rs 45,000 | 3 years | 16%-20% | Rs 920 | Rs1,582-1,672 | Rs11,954-15,205 | Rs56,954-60,205 |
| SBI | Rs 40,500 | 3 years | 12.60%- 15.10% | Rs 418.14 | Rs1,357-1,406 | Rs8,345-10,113 | Rs48,845-50,613 |
| Axis Bank | Rs 40,500 | 3 years | 11.50%-24% | Rs 621-828 | Rs1,336-1,589 | Rs7,579-16,701 | Rs48,079-57,201 |
| Tata Capital | Rs 38,250 | 2 years | 12.99%-19% | Rs 489-978 | Rs1,818-1,928 | Rs5,389-8,025 | Rs43,639-46,275 |
These were the information regarding the product features, as well as EMIs, interest and total payout on buying the said laptops on consumer durable loan . You have now got the necessary financial information to decide on the selection of the lender. Choose the option based on your income and repayment capacity. You can also choose a shorter loan tenure to cut down the interest outgo.
(Updated on:7 November,2016)