Festive Season Sale: These days the festive season sale is going on in the country. Flipkart Big Billion Days Sale 2023 continues on Amazon. At the same time, Flipkart Big Billion Days Sale 2023 is going on on Flipkart. In such a situation, many people take advantage of the strong offers available in the sale. During online shopping, customers get the option of no cost EMI on many products. Many people take advantage of it during sales, but as good as it looks, it is equally harmful. People have to suffer a loss of thousands of rupees by getting trapped in the game of no cost EMI. Know what is the complete information.
Know how to lose money from No Cost EMI offer
If you do not avail no cost EMI on any product during the sale, you can get some discount. But when you avail the benefit of No Cost EMI, then the MRP of the product is considered as the final price. Let us understand this with an example, suppose you buy a smartphone worth Rs 20 thousand, then you will have to pay only Rs 20 thousand on the no cost EMI offer. At the same time, if you do not use no cost EMI then you may get a discount of Rs 1000.
What is the game of No Cost EMI?
For your information, let us tell you that No Cost EMI has two parts. GST is levied on this part, information about which is not provided by the shopkeeper or the online company. In such a situation, the entire burden of tax falls on the customer. In this way, the customers have to pay 18 percent GST on the no cost EMI offer every month on interest payment. Along with this, many times processing fees are also charged in No Cost EMI.
What is No Cost EMI?
Let us tell you here that No Cost EMI means not paying any interest on the original price of the product. In such a situation, the price of the product is simply divided into several parts and then it is paid every month. However, customers have to suffer losses due to processing fees on this. Before availing No Cost EMI, you should read all the terms and conditions carefully.
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