 "loans, emi, joint-loan, borrowers, home loans, housing, residential, property, repayment, debt, restructuring, moratorium, shares, brokers, agents, stocks, insurance, agreements, contracts")
It’s the festival season and many online and offline retailers are advertising their no-cost or zero-cost EMI (equated monthly instalment) schemes on gadgets and appliances. No-cost EMIs are essentially interest subvention schemes between merchants and lenders. Before availing one, however, you should scrutinise the offer to ensure it is truly no-cost.
How it works
By availing of a no-cost EMI offer, the customer avoids paying the entire cost of the product upfront. Instead, she pays in instalments while at the same time not paying any additional interest cost.
Adhil Shetty, chief executive officer (CEO), Bankbazaar, says, “The interest cost is
