Advantages and disadvantages of installment schemes
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Advantage-
1. if the amount is big the individual will not have the load to give the amount at one go. She / he can use to give in small amounts at regular intervals, so the individual doesn't feel the extra burden
2. the monthly budget will not be disturbed
Disadvantages-
1. the company charges interest over the amount, so an individual ends up paying extra amount which she / he could have saved if the entire amount was given at the purchase time.
1. if the amount is big the individual will not have the load to give the amount at one go. She / he can use to give in small amounts at regular intervals, so the individual doesn't feel the extra burden
2. the monthly budget will not be disturbed
Disadvantages-
1. the company charges interest over the amount, so an individual ends up paying extra amount which she / he could have saved if the entire amount was given at the purchase time.
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