Only a few days are left for Holi to come. In such a situation, e-commerce websites are coming up with various offers to woo the customers. In such a situation, you should read all the terms and conditions carefully before shopping.
This is how companies cut your pocket due to no-cost EMI, offers may be heavy
No-Cost EMIs Offer:No Cost Equated Monthly Installment (EMI), also known as Zero Cost EMI. In today’s time, this scheme is very famous among online shoppers. Most of the e-commerce companies offer the option of no cost EMI to woo their customers. Seeing the offer of no-cost EMI, you get desperate to buy the goods and immediately place the order. With its help, you can buy mobiles, refrigerators, TVs, washing machines, and other expensive items without any extra charges.
Only a few days are left for Holi to come. In such a situation, e-commerce websites are coming up with various offers to woo the customers. Most companies and retailer shops offer no cost EMI schemes during the festival season. Under this, you do not have to pay any interest rate and charge as extra processing fee. However, there are some such charges under which you need to be alert. Today we are going to tell you about such hidden charges, knowing which you can avoid getting cheated and avoid a big loss.
These charges are hidden in no cost EMI
No-cost EMIs are one such financial option, which can be converted into multiple monthly installments without interest. According to experts, this offer is definitely attractive but the price of the goods you are taking can be high. Also, high processing fees and high delivery charges can be hidden under this. In such a situation, the customers should order carefully.
Do this work before taking no cost EMI
If you are buying any item under No Cost EMI, then first of all you should know that you will have to pay processing fee. Along with this, 18% GST of the bank will also have to be paid. In such a situation, you should read about the term and condition, tenure, processing fee, pre-closure fee, prepayment penalty and late payment charges before buying any item under No Cost EMI.
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