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In no-cost EMI, buyers can buy goods on EMI without any high interest, that is, a kind of loan without interest, but is no-cost EMI really beneficial for buyers? Let's know.

How beneficial is no-cost EMI?

The Diwali festival is coming in the coming months. In such a situation, now people will buy new things for their homes. Some people will buy things like TV, laptop, while some people will also buy smartphones. Due to Diwali, many types of offers are given to customers at shops. One of these offers is also of no-cost EMI. In no-cost EMI, buyers can buy goods on EMI without any high interest, that is, a kind of loan without interest, but is no-cost EMI really beneficial for buyers. Let's know.

How beneficial is no-cost EMI?

No-cost EMI means EMI without any interest, but the reality is something else. Actually, no-cost EMI attracts customers in a way. In no-cost EMI, the interest is adjusted in the price of the product itself and customers feel that they have got the benefit of EMI without any interest. In no-cost EMI, the discount on the product is hidden. Let's understand with an example. Suppose you have bought a product worth Rs 50,000 on no-cost EMI. If this product is costing you Rs 55000 on EMI, then you will feel that the company is bearing the expense of Rs 5000 but in reality it is not so. Actually, this Rs 5000 will be a discount on the product, which the company will not give you.

Many times, in the name of no-cost EMI, companies hide the cashback, coupons and other offers available on the product. Apart from this, many companies also increase the price of the product.

Keep these things in mind before buying a product on no-cost EMI

If you are buying a product on no-cost EMI, then first check the MRP and selling price of the product, that is, check whether you are being told a higher price for the product. Apart from this, compare the offers given by different companies and see whether direct discount or no-cost EMI is cheaper for you.