When customers shop for goods on EMI. So this means that you have to give the same amount over a fixed period of time. Also, interest has to be paid.
People are doing more online shopping in the Corona era. People are avoiding going out at this time. When you shop online, you often see No Cost EMI written. E-commerce companies are offering no cost EMI to customers. Customers often shop by seeing No Cost EMI written.
What is No Cost EMI?
When customers shop on EMI. So this means that you have to pay the same amount for a fixed period at a fixed time. There is also interest. At the same time, customers have to pay only the cost of the purchased goods as EMI in No Cost EMI. No interest has to be paid on this.
How does work?
No cost is a part of the EMI marketing strategy. Retailers try to sell their goods to as many customers as possible through No Cost EMI. Therefore, never see any cost EMI and do not hurry to buy any goods, read about it well. The bank withdraws the discount given as interest. No-cost EMI is divided into three parts – retailer, bank and customer. In case of no cost EMI, the retailer gives the customer a discount of the amount of interest. It works in two ways. The first way is to buy the product at full cost at no cost EMI. In this, companies give discounts to customers as interest to the bank. The second way is that the company includes the interest amount in the price of the first product itself.
