Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Personal Loan for Laptop

Purchasing a laptop for personal use, educational purposes, or office work can be a major task to consider. If you want to buy a laptop as a necessity, you can consider a laptop loan. From NBFCs like SMFG India Credit, you can take up a personal loan for amounts from INR 50,000 to up to INR 25 lakhs*, at affordable interest rates beginning from only 11.99%* per annum, repayment periods of up till 60 months, such that the funds will be reflected in your account within 30 minutes* shortly after approval

Features & Benefits of Laptop


Digital Application Process


Quick Loan Approval


Quick Funds Disbursal


High Loan Amounts


Low Interest Rates


Minimal Documentation Requirements


Multiple EMI Options

Documents Required 

Documents if salaried:

  1. Aadhaar card/PAN card/Passport
  2. Pay slips for the past 3 months
  3. ITR or Form 16
  4. Account statements for the past 6 months

Documents if self-employed:

  1. Aadhaar card/PAN card/Passport
  2. Account statements for the past 6 months
  3. Balance sheet, P&L account, income computation, and ITR for the last 2 years
  4. Business proof (GST number or registration certificate)
  5. Clearance certificate
  6. TDS certificate or Form 26 AS of Income tax challans

Eligibility Criteria 

  • Nationality


    Resident Indian

  • Age


    Age between 21 to 60 years**

  • Credit Score

    Credit Score

    750 or above, with good credit history

  • Employment


    Must be less than 40% of monthly income

  • Minimum Income

    Minimum Income

    Minimum Salary – INR 20,000 - 25,000**

**Please note that these are just the basic eligibility criteria. Actual eligibility will be determined based on several parameters including SMFG India Credit’s policy at the time of loan application.

Note: Salaried residents of Mumbai or Delhi: 25,000 per month, Salaried residents of any other Indian City: 20,000 per month
For self-employed individuals, eligibility income will be as per minimum annual turnover, depending on nature of industry / profession

Laptop Loan Interest Rates in India 

Personal loan interest rates start as low as only 11.99%* per annum at NBFCs like SMFG India Credit. However, the final loan interest rate per annum will be decided by the lending institution according to your eligibility and creditworthiness.

Loan Amount Up to INR 25 lakhs*
Interest Rates Starting from only 11.99%* per annum
Processing Fee Up to 6% of loan amount
Loan Prepayment Charges Up to 7% of loan amount
Repayment Tenure From 12 to 60 months

How to Apply 

How to apply for a laptop loan with SMFG India Credit?

Personal Loan for Laptop

Choose a laptop for your requirement and know its price.

Check whether you are eligible through an online personal loan calculator.

Choose a comfortable repayment period.

Calculate your monthly EMI.

Gather all documents as required.

Scan and upload documents online.

Apply by filling the online form with accurate information.

Once submitted, wait for your loan approval.

Post verification of your eligibility, and creditworthiness, your loan will be sanctioned. Within 30 minutes* upon receiving the approval, the funds will be deposited in your account.

* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.

Frequently Asked Questions

Can I get a loan to buy a laptop?

Yes, you can avail of a personal loan online from NBFCs to purchase a laptop of your choice at affordable interest rates and high repayment tenures if you are eligible according to their criteria. Such a loan comes under the category of Unsecured, which means that you need not give any collateral as a security to the lender against the sum of money borrowed. Taking a personal laptop loan can be helpful as you can gain the benefit of possession of the item immediately as well as comfortably repay the loan without having to take up financial burden.

What is the minimum CIBIL score for a laptop loan?

A CIBIL score is one of the most significant factors that determine whether or not you can take up a loan for laptop purchase online. It reflects your income stability, repayment capacity, and history of defaults. To buy a laptop loan from a lending institution like SMFG India Credit, you need a minimum CIBIL score of 750. Anything above this score can enhance the chances of your application being processed and approved by the lender faster. Faster the approval, quicker you can make the purchase.

What is the age limit for laptop loans?

If we check out the eligibility criteria under an NBFC like SMFG India Credit for taking up a laptop loan, then the age limit is such that when you are applying for the loan, you must be of an age of 21 years or above. Not only that, you must apply for the loan and complete the entire process such that during the time of maturity of the loan, your age has not exceeded 60 years yet. Thus, any age between 21 years and 60 years is within the limit to take up a laptop loan.

What are the best options for laptop loans for students?

The best options for a laptop loan for students depends on a variety of factors. Since you are a student, it is best that you take a loan such that you do not have to take up much of a financial burden right now. This means that your interest rates must be low and repayment tenure must be high so that per month, the repayment obligation comes to a manageable amount. Moreover, if you wish to buy a laptop of your choice according to your application, the loan amount allowed to be borrowed must be high so that you need not compromise on the quality of the product. This implies that SMFG India Credit personal loans are the best for laptop loans.

What are the interests charged on Laptop Loan?

At SMFG India Credit, personal loan interest rates are affordably low so that the borrowers can afford to achieve their dream purchases. For a laptop loan, personal loan interest rates start from only [custom:pl_min_interest_rate]* per annum.

How can I calculate my laptop loan EMI?

The formula for calculating the EMI for a loan is as follows:

E = P*r*((1+r)^n/((1+r)^n-1))

Here, E is the equated monthly installment to be repaid to the lender, P is the principal loan amount that you have borrowed for your laptop loan, r is the interest rate, and n is the tenure of borrowing but in terms of months. However, instead of such manual calculations that might be cumbersome, you should check out SMFG India Credit's personal loan EMI calculator which directly tells you your EMI obligation in seconds.

What will be the tenure of my laptop loan?

Your laptop loan tenure depends upon a range of factors. Usually, a lending institution like SMFG India Credit offers repayment tenures between 12 months to 60 months when it comes to a personal loan. The longer repayment tenure you choose, the better it can be financially because you can spread out the loan plus interest amount over a higher number of monthly installments.

Who can apply for a laptop loan?

Anybody who falls into the eligibility category of the NBFC can apply for the laptop loan. Basic criteria include Indian nationality and age being between 21 and 60 years. The minimum monthly income according to the applicant's city of residence is usually decided by the lender. Additionally, the candidate's CIBIL score must be 750 or above, there must be a stable source of income and documents to prove so, and their previous history with repaying loan amounts must be without default. Salaried and self-employed individuals can apply for an online laptop loan if they are able to produce income-related documents required.

How long can I take to repay the loan?

You can take a loan as long as your repayment tenure to repay the loan. Before taking up the funds, you are required to select the number of months you will need to repay the total amount of the loan with interest to the lender. This can range from 12 months to 60 months..

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