Is No-Cost EMI Really Free? What Shoppers Should Know
No-cost EMI offers let shoppers pay for a phone in equal monthly instalments with no visible interest. A Rs 60,000 phone split into six payments of Rs 10,000 is the example given. The article argues that nobody lends money for free, and someone still pays for the offer.
Context
Context: Under a no-cost EMI, the store or lender often recovers its cost through a higher product price or fees from the seller. Buy-now-pay-later and card EMI schemes are common in India, so checking the total price helps.
Burning Potato score: 62%