India is witnessing immense technological advancement. With the IT boom, computers are replacing manual work in every organisation. Computers help in more efficient management of work. Banks are coming up with new loan products like computer loans to meet the needs of their customers.
Generally banks provide a loan up to Rs 100000 for computer hardware and software. Some banks provide a separate software loan to a maximum of Rs. 20000.
Banks generally charge according to the prime lending rate. An extra 2% is sometimes charged by banks. The actual Rate of interest also depends on the amount of loan taken, tenure of loan.
All Salaried, professional, self-employed, businessmen or farmers can apply for the loan by filling a form at the bank or filling an online form. A service charge of 1% of the entire loan amount is levied.Documents Required by Banks for Personal Computer Loans:
Bank of Baroda - Baroda Computer Loan
Central Bank of India - Scheme For Purchase of Computers
Dena Bank - Dena Vidya Laxmi Scheme For Computer Purchasing
* Terms and conditions may vary from bank to bank.