EMI is so much popular, everyone knows that even if it is in online shopping or offline, EMI makes all our tasks easy but if you do not know about EMI learn what is EMI.
And today we are going to talk about No cost EMI, as you know we have to pay interest on EMI but on No cost EMI is not like that at all.
What is no cost EMI
If you purchase anything on no cost EMI, you will not have to pay interest on it, you will have to pay only the basic money for the product you have purchased.
The best thing about no cost EMI is that you can buy a product on EMI and which you can pay in installments and then choose any tenure for this, tenure will not affect the price of that product.
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While shopping on normal bank EMI or financial companies EMI, we have to pay interest at all times, but if you shop online, no cost EMI can prove to be more beneficial for you.
Because we get the option of No cost EMI on large eCommerce sites like Amazon Flipkart, using no cost EMI we can purchase products at no extra cost.
On eCommerce companies, we get a lot of offers, different offers on different products, and No cost EMI is also like an offer because no cost EMI is not available on all products.
The main income source of the lending banks or finance companies is interest, and it depends on their interest rate, tenure, loan amount.
But many products are available at no cost EMI on Amazon, Flipkart, etc, and if you are getting the product at no cost EMI then it does not mean that the bank will not benefit from it, the bank will benefit because its a deal of seller and bank.
This is the reason why “no cost EMI” is not available on all products, so I hope you have understood what is no cost EMI, if you have questions related to No cost EMI you can ask us in the comment.
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