Question

No Cost EMI का क्या मतलब हैं? क्या इसमें किसी तरह का Charge या Interest देना पड़ता हैं?

Answer 1

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.