Digitization has seen tremendous changes in the Indian college scenario. Students carrying their laptops with them to college is now commonly seen in colleges across India, irrespective of their study discipline. Laptops are slowly replacing the traditional method of taking notes in books. 

Laptops are now the main medium of communication and instruction among students and teachers alike. With the second wave of the Covid-19 pandemic looming large in India and lockdowns becoming the norm, colleges have had to continue to resort to online learning modes. 

So, a laptop has become a necessary device for studies like other gadgets like tablets and smartphones for carrying out daily college activities. Getting a good laptop is a concern for many college-going students as there are various considerations while choosing a laptop for students. Though the price is the main consideration, features and compatibility are equally important for them as they mainly do most of their college work on the laptop.

Are you one of those students looking out to buy a good quality laptop at affordable rates, but are not aware of the options for purchasing one?

There is no need to despair, as there are now a host of lenders, like online lending platforms, who offer laptop loans at good rates and with easy payment options. Let us then explore the various options available for college students who want to avail of laptop loans.

Laptop Loans for College Students - All You Need To Know

Now, there are different online lending platforms wherein you can avail of laptop loans by using your debit card and convert such purchases into easy EMIs. The online lending platform firstly pays the price to the laptop seller upfront and then gives you the option of making a down payment on such a laptop purchase to the lending platform. So, a college student can easily get a loan through their debit card for purchasing a laptop.

Credit Fair, Tata Capital, SBI are few lending platforms wherein a student can easily avail laptop loan with fast approval and easy EMI payment options. Such loans are available for students to buy other electronic gadgets like phones etc through their debit card.

Procedure for availing Online Laptop Loan 

  • Go to the lending platform’s official website 
  • Visit their online/offline partner outlets
  • Purchase your laptop from them
  • Sign in with your personal particulars
  • Upload your KYC documents along with the loan application form
  • Your application is assessed
  • Once the application is accepted, then you can decide on the monthly EMIs
  • After reading all the terms and conditions, sign the loan agreement

Online lending platforms are popular for small borrowers like students, as they do not ask for your credit history or collateral like secured loans. However, the student will be required to make an initial down payment and interest charges would apply as per lender terms.

How to get a personal loan to buy a laptop?

Another way to avail of a laptop loan is by going in for a personal loan. A personal loan is an unsecured loan, wherein a borrower can avail of collateral-free loans. However, such types of loans entail a higher rate of interest as compared to a secured loan. Also, lenders are very cautious while approving a personal loan. Only a person with a good credit history or a stable income can get their personal loan easily approved.

Still, there are now a host of innovative online lending platforms which will provide personal loan even if the borrower has a low credit score or low income. This will help the student to avail personal loan for buying the laptop in a hassle-free way,

What are you waiting for? Apply for a personal loan for a laptop with Credit Mantri, the online loan platform wherein you can easily get the loan for your laptop at affordable rates. Credit Mantri has a host of lenders to choose from. Your credit information and credit and demographic profile would be matched to the lender's lending criteria and then shortlisted most suitable lenders for you. You can then choose from this list, the lender of your choice. At Credit Mantri, an applicant’s loan application is pre-screened so as to first ensure that they qualify as per the lender's credit criteria. This increases the chances of your personal loan application for purchasing a laptop getting approved faster.


Students have now various options to choose from while availing of laptop loans at affordable prices. Review the different options and choose the best one that works for you. 


1. Does a laptop loan have any foreclosure charges?

Many lenders like Tata Capital do not levy any charges for the foreclosure student laptop loan. So, a student can at any time foreclose their loan without the need to pay any added charges.

2. Can I purchase a laptop with my credit card?

Yes, you can make purchases on your credit card provided you have the sanctioned credit limit.

3. Is it necessary to repay a laptop loan on a monthly basis?

Yes, it is very necessary that you repay loans on a monthly basis. Otherwise, you may have to pay a high penal interest charge for every delayed payment. Also, this would impact your credit score, which in turn prevents potential loans from getting approved easily.

4. Do you require collateral for a student laptop loan?

There is no requirement of collateral for a student laptop which otherwise would be required for a secured loan.

5. Would students be able to get a laptop loan instantly?

Student loans applied through online lending platforms can get instant loan approval. They normally have a paperless KYC verification process which makes the whole loan approval a lot easier.