BusinessPhoto: Hindu BusinessNo-Cost EMI Is Not Really Free, Costs Are Hidden
During festive seasons, electronics shops offer 'No-cost EMI' on products like TVs and phones, implying interest-free loans. However, the cost is recovered either by charging a higher price or removing discounts available to cash buyers. For example, a phone priced at ₹60,000 on EMI costs ₹3,000 more than the ₹57,000 cash price, covering the interest charged by banks or finance firms.
Hindu Business·



