Are 0% interest EMI's really legit?

Status
Not open for further replies.
Pranav.Falcon said:
1) This was the cheapest I could find. Cheaper than Lamington road also
2) Had got this card for free couple of years back when i had purchased some appliances.
3) My current monitor was dead, was the best time to buy one.
4) Agreed !!
Click to expand...

You have to go by the norm, not the exceptions. For normal users, the card costs Rs 400 for sign up and Rs 99 + taxes = 117/year subsequently. It encourages customers to take loans to buy things they might otherwise not buy at all also the yearly subscription cost is also a motivator to make them buy just to make use of the card.
 
Can someone explain what this "zero-cost EMI" exactly is? Is this the same as zero-% interest rate but in another shady language?

Screenshot_20180502-080358~2.png
 
Stupid or noob question but cant we use debit cards in no cost emi situation?

In credit card scenario hidden gst & service charges are understandable but what charges on emi on debit cards?
 
nRiTeCh said:
Stupid or noob question but cant we use debit cards in no cost emi situation?

In credit card scenario hidden gst & service charges are understandable but what charges on emi on debit cards?
Click to expand...

You can, with certain banks. I believe Amazon has tied up with HDFC for the same?
 
rkkaranrk said:
It's the same as 0% EMI, That screen shot is from Amazon and they call it No Cost EMI.
Click to expand...
Yes it is Amazon.
Lord Nemesis said:
Its the same thing. This term is used because its now illegal to advertise 0% interest schemes.
Click to expand...
So advertising is illegal but the actual thing is legal? How is that even possible? :/
I thought the ban would cover all areas related to it. Any chance the RBI would take a look at it again?
But then again these sites can just bypass this by removing the so-called offer and increasing the price at the click of a button. Sigh.
 
Status
Not open for further replies.
Top Bottom