What is No Cost EMI in Hindi | By Ishan

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What is No Cost EMI in Hindi | By Ishan

Normal EMI: In regular EMI there is a Interest rate and Processing fee, the interest rate lies between 8% to 15%, and the processing fee lies between 0.5% to 3%. So if you have bought a product on EMI of Rs.12000 which is to be paid back in 6 months, then the calculation is like this -

(EMI=Rs.12000, Tenure = 6 months, Rate of interest = 12% , Processing fee = 2%)

Then every month you have to pay is Rs. 2157 , where the loan amount is Rs. 12,000, Total interest to be paid is Rs.441, Total Processing fee is Rs.250, Therefore the total amount payable is Rs. 12,691.

No-Cost-EMI: In no cost EMI, the interest rate and processing fee is 0%, so if you habe bought a product on EMI of Rs.12000, which is to be paid back in 6 months the the calculation us like this-

(EMI = Rs.12000, Tenure = 6 months, Rate of interest = 0%, Processing fee = 0%)

Then every month you have to pay Rs.2000, where the loan amount is Rs.12000, Total Interest paid is Rs.0, Total Processing fee is Rs.0, Therefore the total amount payble is Rs.12000.

NOTE: The regular EMI is provided by Credit Card companies directly, but the No-Cost- EMI is provided in collaboration with loan providers, for example if a online shopping website provides the no-cost-emi then it will first partner with a loan provider like Fullerton India , Bajaj Finserv etc, which will provide the loan for the EMI, to get the payment back from you Fullerton India will join hands with a Credit Card Company, so that the emi amount is deducted from your credit card and the repayment value is added with you monthly credit card bill, which you have to pay by the credit cards bill payment due date or else after that date a Charge of Rs.750 will be imposed as fine on the monthly emi of that month.

But as the loan provider is providing you the EMI loan and not the credit card company, it is needed that you have to be a customer of the loan provider, that means if the EMI loan is provided by Fullerton India then you need to be a customer of it who has already taken a financial service from them, or in case of Bajaj Finserv you need to be a customer of them and should hold a Bajaj Finserv EMI Card.

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[Shubhash_]

Good explanation in just 2 minutes 47 Seconds Full support always

[nizamansari]

As salam wakai kum .Aapki bhasha bahut saral hai jo samajhane me aasani hoti hai .
Bahut bahut sukriya

[Aru]

Such a wonderful explanation in 2 mins 🙏🙏🙏🙏🙏🙏🙏

[sunilmamman]

Thnxs Sir ap k samjane ka trika bht asha hai thank you so much

[deepakrajak]

Very helpful information I did not know about this information thank u so much

[ashishkumarsoni]

bhai very nice work keep going and make some video about import and export business registration and other details
i really appreciate your work brother.

[sameersarkar]

भाई अगर हम कोई भी मोबाइल फोन खरीदते है तो हमे पहली बार कितने रूपये देने होगे

[virendranirmalkar]

2 mint ke video aapne sab samjha Diya sir thanks 👍

[ANKUSH]

best explanation....
very good...
keep it up

[visheshmishra]

Thanks for the info.
Totally informative video.

[last_position]

Sir No Cost emi thoda alag h kyonki as per RBI guidelines koi bhi apna product bina interest ki emi k sell nhi kr sakta toh companies ne y trick nikali h ki agar mobile ki cost 12000 h and uska total 3 emi par interest 1000 bnta h toh wo 1000 ka instant discount de deti h aur 11000 ka loan tenture ho jata h. Jab credit card ki statement aayegi toh usme total 3 cheez aayengi
1 emi amount
2 interest amount
3 gst 18% on interest

So ghuma phira ke woh interest part k barabar instant discount de dete h aur bolte h no cost emi

[alkeshjadhav]

Awesome explanation bro...!!! Thank you so much!!! Great help!!!

[nazarahammad]

Hi Ishan bro good and very very useful information. keep going.

[techdogtrainingcenter]

Osam video sir yhankx u so much 👍👍👍👍👍👍

[umarfarooq-fowx]

Bhai credit card kya hai kaise banwate hai aur use kaise karte hai. Is par ek video banaye. Please

[ravneetsingh]

Thanks sir this is very usefull information for me

[ShahFaisalFast]

How to complain private bank...??
Pls sir make vidio on it...

[Nejamcbs]

Ahsaan bhai tumse bahut kuchh sikhane Ko Mila hai aur bahut kuchh sikhane ke bad kitne lakh rupaye Kama Liya hai Maine lekin main aapki video dekhte rahata hun aap kahan ho video dalte kyon nahin Ho

[gulamsarwar]

Thnks bhai...
Bhai mjy ek laptop lena hai kis brand ka lu kuch suggestions dijiye thank you

[georgegaming]

sir bajaj emi card se b le skte h no cost emi me