If you think buying laptops takes years of saving and patience, think again. Various authorised stores have now started their own EMI plans. And the best part is that you don’t have to pay any extra interest. Before we begin, here is the guide to buying laptops on 0% EMI. Let’s start with an introduction to EMI.
What exactly is 0% EMI?
Equated Monthly Instalment, or EMI, means a fixed payment posed by the seller to be paid each month, just like a loan for a specific product. Moreover, 0% EMI, also known as no-cost EMI, means the loan won’t have additional interest costs. Hence, it is just like dividing the total cost of the product by the number of months. However, there will be an initial payment (down payment) to be paid, usually 20 to 40%.
If you are still confused, let me give an example of a laptop that costs NPR 100,000. There will be different EMI tenures depending on the shop. For this laptop, the EMI tenure is 12 months and the down payment is 40%; then, the consumer has to pay NPR 40,000 upfront and NPR 5000 monthly for 12 months. The buyer will still pay NPR 100,000 for the laptop, but they won’t have to pay it directly at once.
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EMI Guide for Laptops
Asus and Lenovo
Nagmani International has you covered for both Asus and Lenovo products. They are the official authorised distributors for ASUS and Lenovo laptops in Nepal.
You will need a citizenship and an income statement to prove you can pay the amount throughout the period. They require a 40% down payment, while the rest can be paid through EMI. The EMI tenure ranges from 6 months, 9 months to 12 months.
Dell
NeoStore, the authorised distributor of Dell laptops, has also rolled out their 0% EMI scheme. They also require you to submit ID, address, and income proof. After the documents are approved, you pay the 40% down payment and the remaining amount on EMI within a 3 to 12-month tenure. They also provide a 2-year warranty and 1-year insurance on the laptop.
Acer
As for Acer, Mercantile teased about their 0% EMI scheme a while ago. The first device that can be bought at 0% EMI is the Acer Aspire Lite (i3), which was released just back in September. They are also asking for a 20% down payment compared to others’ 40%, along with proof of citizenship card use.
Apple
Last but not least, for MacBooks and iMacs, Evo Store, one of Apple’s authorised retail stores, has its own EMI plans. The EMI tenure for this Ultrabook ranges from 18 to 24 months. They offer EMI through banks like Nabil, Mega, NIC Asia, and Machhapuchhre. And they don’t require you to pay a specific down payment. Unfortunately, you get 0% EMI through Global and Nabil bank cards only. For the rest, the EMI interest ranges from 8 to 12 per cent.
Advantages and disadvantages of 0% EMI
After all the things I shared about EMI, you might be wondering if it is worth it. Therefore, I will discuss its pros and cons. And yes, it is not always positive. The table below will describe both of its pros and cons.
| Advantages | Disadvantages |
|---|---|
| Purchase without Interest Rate | Some require a down payment of 20 to 40% before the EMI plan starts |
| Process completed quickly | Disguised Terms and Conditions |
| Adaptable Tenure Plans | Penalty for late payments (usually around 2%) |
| No need for Credit Cards | Some plans require a credit card, which might involve a complicated cancellation period. |
Conclusion
So, finally, do I suggest you follow this 0% EMI on laptops scheme? Yes, absolutely, if you are currently saving money to buy a laptop. This will not only help you directly fund the laptop, but you will also get the laptop sooner than your expected date. But you must be cautious about the late penalty fees or secret terms and conditions. Nevertheless, in the end, it all comes down to your choice if you really want to follow through with it or not.
- In the meantime, check out the Best laptop in Every Price Range in Nepal:
