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Computer Loan, PC Loan, Laptop Loan in India

Posted on 06.29.2010

Computer Loans in India

Today computer is as much required at home as television. It is a requirement of every individual in one way or another. You need it at office, at home for kids, in schools, colleges for students. Computers have become a part and parcel of everyone’s life. Computers are used for personal as well as professional purpose.

You can explore the entire world sitting at home through internet. There are various other benefits of owning a PC. Some of them are as follows:

  • Plan a trip using internet
  • Prepare documents , letters, etc using word
  • Maintain accounts in soft copy using excel
  • Stay in contact with loved ones through email
  • Explore various career opportunities

Today everyone has a computer at home. But still there are some people who are not financially strong to buy the computer. For such people there is computer loan. It is like a personal loan. The computer loan amount is smaller as compared to any other loan and thus is easy to get sanctioned.

Secured computer loans are available at cheaper interest rate as there is collateral security whereas unsecured computer loan bears higher rate of interest. An individual with good creditability in the market enjoys lower interest rate. Online application forms are available to for computer loan which makes the task all the simpler.

There are various options for loan repayment:

  • Balloon payment is lumpsum payment at one shot. This is suitable for those who expect a lumpsum amount in near future. Interest charges are significantly reduced by this method.
  • Periodic installment method is payment made monthly or quarterly. The interest paid in this method is higher but it is suitable for fixed salaried people.

People with bad creditability in the market also enjoy the benefit of loan. But they have to pay higher rate of interest. Such people should pay the installments on time so as to improve the creditability in the market.

Thus with the help of computer loan, now each and every individual can purchase the computer of his own and enjoy the benefits of the technology. They don’t have to depend on others for their work to be completed.