Everything you need to know about no-cost EMI

No-cost EMI is a financing option that allows customers to make purchases on credit. It has become increasingly popular in recent years due to the benefits it provides.

Benefits of a No-Cost EMI

• One of the primary benefits of no-cost EMI is that it allows customers to make purchases they might not otherwise be able to afford. By spreading the purchase cost over several months, customers can avoid paying a large upfront amount and manage their finances more effectively. This is especially useful for customers who have a regular source of income but prefer to make smaller, regular payments instead of a single large payment.
• No-cost EMI is also convenient for customers because it is easy to apply for and does not require lengthy approval. Customers can often apply for no-cost EMI financing directly through the retailer's website or in-store, and approval is usually granted quickly. This makes it a popular financing option for customers who want to purchase quickly and without hassle.

Working with no-cost EMI

• When customers use no-cost EMI to purchase, they essentially take out a loan. The loan amount is then divided into equal instalments, typically over three, six, nine, or twelve months. The customer pays off the loan by making these monthly payments, including the principal amount, interest amount and any applicable taxes.
• Customers should carefully read the terms and conditions before accepting them to ensure they understand all the loan costs.