Is No-Cost EMI a Scam? Hidden Charges of No-Cost EMI

Is No-Cost EMI a Scam? Hidden Charges of No-Cost EMI

A lot of us think that with No-Cost EMI, we wouldn’t have to pay any interest or extra charges at all - but that is far from truth. In this video we will analyse the reality of No-cost EMI deeply and find out the actual truth behind No-Cost EMIs.

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[oadityagupta]

Facts:
Take EMI for longer duration.
It's always better to pay in full.
Avoid taking small amounts.

[shahidrmshahi]

How come 24 mnths EMI is cheaper than 3-6 months?
That was a wrong statement

[bakuljoshi]

आप बहोत अच्छा काम कर रही हो, लोगोंको जानकारी उनका अधिकार और नए नए स्कैम के बारे मे बता रही हो, मेरी knoledge काफी बढ़ गई है, आप के video मेरे बेटे दिखाते है, आप की स्टाइल स्पीच किसी को भी अच्छी तरह से समझ में आता है, God bless you dear, keep it up, thank you 🙏

[draju]

Nice explanation—- PPL really get fooled by this trick. Got trapped once few years back after that NEVER gone for EMI option again till date. Like what you said which they never say is GST component which works out very expensive. Two other major points which I faced in NO COST EMI which are also very important :-
1) In many cases you cannot pre close it very easily
2) If u already have some outstanding amount in yr credit card and than this EMI is added to the outstanding or you carry forward the interest is charged on both the amounts and it works out VERY VERY EXPENSIVE
So bottom line is be very carefull when you opt for this scheme . All the best

[arvindbaburaj]

Still better than credit card EMIs.

People shouldn't buy stuff because they are getting no cost EMI. Can opt when they need the product but don't have enough cash in hand. Credit Cards do give additional discounts for opting for no cost EMI during season sale which would offset the fees and taxes.

The order of best option to purchase should be,

Pay in full credit card payment > No Cost EMI > Credit Card EMI

[sata]

What if you immediately pre-close the no cost emi? Most banks charge only the interest till date, i.e. no penalty . Simple question: do you make money/discount or not? And you guys call yourselves influencer!! No wonder the topper in your batch choose a science stream, not commerce. Try influencing that guy!

[battlegroundindia]

oversmart
No EMI cost wale product per bhi discount milte hai
jaise mai ek phone le raha hu
without EMI mujhe 31500 pad raha and also with EMI 31500 pad raha hai
processing fee around 200 and interest 1362- 1359 ( bank discount)= 3 rs
agar aap GST wagera bhi add karenge to bhi without No Cost EMI se better hai
EMI wale plan me bhi ye sare charges lagte hai jo charges aap bata rahi hai
waise aapka video informative hai. thanks

[suryapartap]

I bought one ac from Amazon in 6 mth no cost emi.. for 6 month int paid by Amazon and given as discount. So as a customer i have to pay same account while availing 6 month no cost emi. Only extra was 199 rs processing fees by icici.

[thecybersahil]

is processing fee charged on every installment i pay? for en eg. there is a phone of 20K on NO COST EMI for 6 Months so every month do I have to pay processing fee + GST?

[mkammouo]

No Cost EMI = [Interest + GST 18% on Interest + Processing Fee + GST 18% on PF] - [Interest]
I.e, No Cost EMI = GST 18% on Interest + PF + GST on PF

[VivekKumar-nzro]

we do not have to pay GST on intrest as it is a loan and is exempted .

[jesugupta]

What if they are giving us bank discount on emi options.?

[gnes]

After getting a no cost EMI, if I immediately pre-close the loan and accept the pre-closure fee of 3%, will I also have to pay back the instant discount provided by the merchant (amazon)?

[testdrive]

Finencer Didi ne kuch zyada hi study kar li mujhe to 199 processing fee + GST ke alawa kabhi bhi kuch extra amount paid nhi karne pada..

[syncwork]

How a longer duration emi will be cheaper than shorter duration emi (like 3-6 months)?

I believe longer duration emi mai bank interest bhi jyda lagega.

[barnagaming]

I have ordered a phone from Amazon in emi they have delivered to phone but not deduct any money from my bank when they u deduct the money???

[imVijay-]

Jaane do bhai log hard cash waala he seen sahi hai 😂😂

[SharmilShah-kvhv]

I have a question: If I ordered from Amazon on EMI and after couple of days it got cancelled. Amount got credited as well. Today while checking my statement, I found that EMI is still being charged. Is there a penalty that I can claim to bank for charging false payment in form of EMI? I actually paid 1 EMI

[hrishikeshtamuli]

i always come to learn the content and i end up simping over her voice 😰

[RudranathKabiraj]

So there is another one i have encountered with like in the payment section u will see” No Cost EMI On Credit and Debit Card Transaction and there will some discount from flipkart platform ” so that discount amount will be charged by the bank after statement generation + sgst+ cgst+interest😔