Is No-Cost EMI a Scam? Hidden Charges of No-Cost EMI
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- Опубликовано: 20 окт 2024
- 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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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
Yeah 😊🙌
Facts:
Take EMI for longer duration.
It's always better to pay in full.
Avoid taking small amounts.
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 🙏
Welcome 😊🙌
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
I paid using amazon credit card under No-cost emi for 9 months I ended with 26,300. But when I paid using my credit card it was showing 24,778rs. Certainly they making fool of us. by adding extra hidden interest charges.
How come 24 mnths EMI is cheaper than 3-6 months?
That was a wrong statement
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?
No
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
Abe kya likha Hai yeh paagal.. tujhe khud bhi samaj aaya?
@Agri Wallah okay bhai
Do we have to pay gst on interest every month or one time?
@Agri Wallah can u ans my question
@@Aditya-dt1rq every month aayega..
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.
Kharidne k kitne din baad emi ka amount deduct hona suru hua??
Maine toh 22nov ko liya..sirf processy fees ka bill Aya..aut emi ka bil avitak nehi ayaa..
And who will include GST on EMI intrest??
bhai bill ke hisab se emi cut ta hai or processing fess ke sath me igst bhi lagta hai to free nh hai
Online is good offline is fraud on no cost emi
Ac cost was 38740.. so actual no cost emi is 6456 (including gst+interest) for 6 month. Amazon deducted 38740- 1533 interest =37207 actual charged that time. Interest given by Amazon and as customer given the actual product cost in 6 equal emai. Only 199 + gst was changed as processing fees.
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!
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..
Konsa credit card use karte ho app?
Amazing explain to no cost EMI 👏👏......
Thanks for such informative videos. I know truth about No cost EMI. You exactly told us same as I know. I avail No cost EMI only one time in life from ICICI Amazon Pay Credit card but that time they don’t charge me processing fee. I bought iPhone that time.
Ohh great 👍
we do not have to pay GST on intrest as it is a loan and is exempted .
Where to complain
What if they are giving us bank discount on emi options.?
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)?
Did u do it? I want to do the same
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???
Bought Daikin 1.5 AC at no cost EMI: Axis airtel c card
//Card Joining fee: 500 + 90rs gst//
Charges# Total amount: 41,800 rs
Installment amt: 7290.8/-
interest rate: 1.33%
Processing fee: 418/-
Tenure: 6 months
Total amount paid: 43,740 +494 = 44,158/-
Maine mobile liya tha no cost emi pe total amount 29000 but bank k bill main 16% interest dikha raha hai and ab total amount 31400 ho gaya hai
I've buy mobile, फ्रिज, washing machine on no cost EMI. I've nothing pay extra.
Great 👏
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.
I got 2500 additional off while choosing no cost emi as payment option as compared to one time payment during eCom offers. SBI 💳
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😔
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
Good question, I have never seen such case, if we canceled the order, we should not get the emi conversation if it has been settled...let's see what she replies to this...waiting eagerly to her answer.
this happend to me too , what should i do?
@@n1ckplays. call the customer care they will rectify it in 1 or 2 working days
Maine bahut bar kiya hai but mujhe extra charges nahi lage
What is offus emi int in my credit card bill after buying phone mam.
Agar no cost emi bina credit card ke mile to usmein bhi costomer ka loss hoga ya nahi?
i always come to learn the content and i end up simping over her voice 😰
It was very informetric video first of all man thanks to your team, Please guide i want term insurance is it good choice to go with EMI options or direct pay, Around 50K Approx Cost
Blocked amount on bank for emi means
But you didn't include the interest we will loose if we will the entire amount upfront.
Ok ma'am is there any alternative to EMI
If the cost of stuff being purchased is 50k
6 ya 9 month ki emi me jo amount hoga to usme har bar gsr lagega? For ex. 34999 amount 9 month me kitan hoga total gst cost?
Why in you calculation chart principal repaid is changed ? The emi is set for all months only the extra part is GST which we pay on interest.
Didi ye wali trick kese work kregi
Pay Via HDFC 18 Months No Cost EMis & Cancel EMis After Delivery
Please Didi btana mujhe🤗🤗
How many times we are paying processing fees for 6 months EMI ???
Till last year Amazon pay later better but now a days only 30 days credit giving and even for emis they r charging 600/- per month which is whopping interest rates..thinking to change to credit card soon as there charges altleast transparent.
Processing fee was 99 +gst now its doubled to 199 which is too much in my opinion
Yeah 😥
I love your content, Based on your analysis 👌
Tum wahi ho naa ???? RJ NAVED ki team wali ladki???🤔🤔
Hhhhhh shi hh
Yessssss
Nowadays influencers are giving faltu(jabardasti) ka gyan agar mere paas jaise ki maximum logon ke paas credit card nahi hai tab to mai wo product 25000 pe lunga hi or agar mujhe emi pe lena hai to 14% to 24% intrest lagega hii to aap isko 14 24 se compare na karke jo credit card pe 5%cashback milega usse compare karna is not justified.
Or agar mai kuch nahi samajh paayaa to please make me understand.
I couldn't understand your percentage calculations. With no cost emi it is 25400 while without emi and amazon icici card it is 23750. So the difference is 1650, how come this difference amounts to 23%?? Isn't this is somewhere around 6-7%?
Exactly
aare ye to WAH AASHISH WAAH slow claps wali bandi hai.... i like her
Processing fee is totally rubbish
no cost emi se purchsing power badh jati hai agar mai ek bar payment karke 20k ka phone le rha hu to emi pe mai sayad 30k ka phone le skta hu mujhe lagega ki thore thore paise hi to dene hai lekin in long term nuksaan to mera hi hua jaha mujhe 10 nahi kharchne they vaha maine karch diya
ha par kisi kisi case me vo sahi bhi ho skta hai
most beneficial trick mai apko deta hu
24 months ka no cost emi par product lijiye(eg. iphone 13) aur 2 days me bank ko call kijiye aur full payment kar k EMI close kar dijiye to apko all charges less kar k bhi ek 62000/- ka iphone 13 only 53000/- me milega yani 9000/- less
Yeh calculation abhi (2/6/23) chal rahe offers HDFC DC EMI ka hai.
Please ek bar offer check kijiye aur new tricks k sath purchasing ka video baniye.
Is processing charge paid for every month?
No. It's one time
Samajh nahi aaya please explain with example
It’s an amazing calculation 👍
Please make video on snap mint application. It is useful to us or not please explain.
Jaane do bhai log hard cash waala he seen sahi hai 😂😂
@bekifaayati ⁉️🙏🙏 can you please help me out? Please.
I take a pay after placement course.
Now they asking me to pay the payable amount: 15%of my CTC for 3yr. Which is 2.25L ,
There is 2 options -
1. If i pay the amount in 18 months,
Then they offer 10% discount. Which is 22,500 less.
And the EMI will be 11,250 per month for 18 months= 202,500
2. I can pay 2.25L in 36 months. Which is 6,250 per month.
Then according to you what is best option for me? Please please reply 🙏🙏🙏🙏
so for 30000 i will pay 30600 in total
Mujhe lrki atchi lgi isiliye meine video dekha wese mene cash hi buy Kiya hei ..sahi baat
Bhai saab aaj tak ye sab nhi socha tha
😅😂
Ma'am maine 23 November ko ek mobile liye no cost emi par..but December ka 18 ho Raha avi tak emi ka bill generate nehi hua..mera due date hain 30th ko..mera card first time use ho raha..isliye pata nehi process..maine card details main dekha processing fee aur GST ka bill Aya ,wo bill generate hua..but emi ka nehi hua...kya karna chiye?
bill date ke sath hi emi katega
@@tecnicsamjo but bill to generate ho geya Mera...usmain toh emi value nehi aya
chill kro call on customer support your Card
Auto debit charge of 2% is also a part of this jumla.
Your voice so quite😍
Hold my the beer while I explain how to make the most of No Cost EMI. 🍺
Here's the trick: When you're buying something, opt for the longest repayment plan available. Once you've started paying off the loan, aim to close it out ahead of schedule, as soon as your bank permits. Believe me, this strategy can result in paying even less than the discounted price. Why? Because the initial discount you receive essentially covers the interest portion of the loan, reducing the principal amount. And if your bank allows early closure, you won't accrue any additional interest charges. Sure, there might be a 3% foreclosure fee, but it's a small price to pay compared to the 14%-15% interest rates you'd otherwise. However, obviously, check with you bank about foreclosure policy first and do run some calculations before going for this procedure. Catch my drift?"
what if I invest the amount in Mutual Funds then I will be in profit. Take that into consideration.
Sure, we will consider it..
No cost emi ka 1 se 1.5 lakh ka conpleated video banao ko kaise cheaper hota hai pleasee
Please share the excel sheet with us. It will be a big help.
emi Par aur details chahiye iss par ek Aur video chahiye ...
Rubbish,
An actual no cost emi is -
No cost emi means the interest charged by the bank in over 6 months is given as discount upfront .
25,000 less disc upfront = Real transaction value .
Your owning cost over months is 25,000 + processing fee ( one time when you do the transaction - usually 235rs ) .
Exactly
Plus gst on interest component every month.
You’re Rubbish.
LoL you're reading the theory. First take a NC emi. Then sit and calculate the difference. This should answer your rubbish statement
23.65 percent kaise jod lia behen
🤣
But I have been buying from flipkart and Amazon with NO COST EMI(6 month) which doesn't cost me even 1 single rupees except for 199 rupess service charge for using credit card..
Also I get 5% cashback with rewards points 😇😇😇
Great 👏
Which credit card?
@@bekifaayati that's mean ur video useless
199+18%GST APPROXIMATELY 240
@@DeepakSharma-np7lt yes so what..
Wo to sab samj gaye,, lekin hamare jeb se to sirf 25000 hi ja rahe hai nn..
25400 jayega, processing fee + gst, 400 lagenge
Very Good 😂
Congratulations!! You learned nothing !!
No cost emi is big scam to make more sales by comapanies and bank in a simple way you want to buy a iteam worth 50k and you see discount on no cost emi is 5000 first thing comes to our mind we are saving 5000 as its no cost emi but once the bill will be generated first month you will find you are paying more because the discount of 5000 bank gave you that they will charge as interest+ gst so once your emi are over the product will cost you 51-52 k instead of saving 5000 you will make lose of 7000 thats how they earn in nocost emi better to pay in one go if you have credit card and take instant discount that is saving otherwise you regret
Jo log apne relatives and friends ko apne card se emi krwatw h bhai ....intrest n gst b le liya kro😂😂😂😂😂
Basically you meant that there would be loss of money which could have been invested elsewhere,however a issue I found out with the video was that it didn't account for the opportunity cost,like I would have invested 25000 and at the end of the month,withdrawn 4167 and continue the process uptil the last payment,this way I would have earned returns too,however it would have been possible in case of the credit card in which I would have to make payment at the end of month of purchase
Hope I said right,if not please do correct me.
Maine apko Kabir sing mai dekha hai..acchi action ki thi
Superb learning
Beauty with brain ♥️
Thanks ab koi dhang ka video mila hai
Good informative video ❤️
Thank you 😊🙌
Great and unique content
Thank you 😊🙌
MADAM U R WRONG CASH IS OFFERED IN NO COST EMI
Ji ma'am
Hi beautiful.,
Plz make long videos !
At least 5 hrs 😍🤣
Ye tech RUclipsr kaise ban gai
Very nice video 👍
Didi aapki taali badi tagdi lagti hai 😅😅
Thanku didi ❤️😍
Welcome 😊🙌
Nice content maam❤️
Thank you 😊🙌
Emi me cashback offer nikal diye hai
I want to buy an iPhone 13 on no cost EMI on which I have to give₹ 2489 for 24 months on no cost EMI is it worth it for me to buy it.?
No
Thanks mam
Amazon pay later EMI ke bare mein bhi video karna chahie
Itna angreji aata to khud hi artical nahin padh leta 😯😡
25000-1500 kam karke , emi banani h, tabhi to no cast emi hoga
Thoda video sahi bana lete h, view ke liye wrong knowledge mat diya karo
Please
Please 🙏🙏
Create more confusion than clarity
❤️
0:04
Plzz tell
Nahi matalb aapna youtube channel hai to kuch bhi bolne na maine bajaj ke emi card se 35000 rs ka printer liya usme mujhe sirf 117 process fee lagi our mera emi 2709 rs ka aaya hua hai 8 month ke liye to batao mujhe kitna charges bharna pada no cost emi pe
Log aapke videos dekhte hai to kuch bhi bolne ka ye sahi to nahi hai na aap paise kama rahe ho videos dal dal ke pr hamko to kamake kharidna padta hai na sab kuch to itne paise kaha se laye ham
50% mam sach bol rahi, 50% time waste ke liye hota h
No Cost EMI is a Scam
I am second 😱😅
Lot of wrong info ...
Home work could have been better before video shoot
foolish video.. even considering 5% discounted price u pay 25400/- instead of 23750/-, i.e. 1650/- extra === ~6% extra (no need to extrapolate),.. and if you have the money upfront, can invest the money n get interest/return(can get more benefit if it is more than 1 yr)
I ordered using a HDFC credit card. If we cancel no cost emi and pay the full amount immediately then we wont be charged anything and you will get no cost emi discount also! Let me know if somebody had a bad experience with this technique using HDFC CC.