No-Cost EMI: Unveiling the Hidden Truth Behind Seemingly Free Installments
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Moneycontrol•24-01-2026, 15:50
No-Cost EMI: Unveiling the Hidden Truth Behind Seemingly Free Installments
- •No-Cost EMI is a popular option on online platforms for various products, appearing interest-free.
- •Banks charge interest on these EMIs, but sellers or platforms adjust it as a discount, making it seem like no interest is paid.
- •Hidden costs include loss of instant card discounts, and additional GST and processing fees.
- •Choosing EMI increases credit exposure, potentially impacting future loan eligibility.
- •Customers should compare total costs, check for lost offers, and consider credit history before opting for No-Cost EMI.
Why It Matters: No-Cost EMI often hides actual costs through lost discounts and fees, making it less 'free' than it appears.
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