Decoding no-cost EMIs: Debunking myths and unveiling facts
These schemes promise the option of purchasing without bearing the burden of hefty interest charges
- Mar 18, 2024,
- Updated Mar 18, 2024 5:28 PM IST
In the realm of consumer finance, the allure of no-cost EMIs (Equated Monthly Installments) often stands as a beacon of affordability and convenience. These schemes, prevalent in the retail landscape, promise the gratification of purchasing without bearing the burden of hefty interest charges. Yet, beneath the surface of this seemingly benevolent offer lies a labyrinth of misconceptions and truths that demand exploration.
As consumers navigate the intricate world of no-cost EMIs, they encounter a myriad of myths and facts that shape their understanding and decision-making. From skepticism surrounding hidden charges to the genuine benefits offered, deciphering the intricacies of these financing options becomes imperative.
“There is no denying the fact that India's rising and aspirational middle class is one of the fastest growing segments of its population. Add to it another fact that we are one of the youngest populations in the world, therefore the demand for big-ticket items like consumer appliances, electronics, watches, apparels, home decor and furniture, and other luxury items is constantly on the rise. Pine Labs' PoS terminals support an integrated network of many banks and NBFCs that offer to their consumers attractive EMI offers at discounted rates and often at no additional cost to the consumers. As a technology platform, we enable the execution of this arrangement between the consumer and the lender through a speedier, secure, and 100% paperless EMI availing process at the checkout via our PoS terminals,” said Mayur Mulani, Chief Growth Officer - Affordability at Pine Labs.
In this piece, Pine Labs Pay Later Ecosystem research on no-cost EMIs has been instrumental in distinguishing between myth and reality, ultimately empowering individuals to make well-informed financial decisions. Here are some of the myths and facts you must know.
NCE has no linkage with a customer’s credit score. A customer's credit score is impacted by any default or delay in paying their monthly credit card outstanding/bill.
In the realm of consumer finance, the allure of no-cost EMIs (Equated Monthly Installments) often stands as a beacon of affordability and convenience. These schemes, prevalent in the retail landscape, promise the gratification of purchasing without bearing the burden of hefty interest charges. Yet, beneath the surface of this seemingly benevolent offer lies a labyrinth of misconceptions and truths that demand exploration.
As consumers navigate the intricate world of no-cost EMIs, they encounter a myriad of myths and facts that shape their understanding and decision-making. From skepticism surrounding hidden charges to the genuine benefits offered, deciphering the intricacies of these financing options becomes imperative.
“There is no denying the fact that India's rising and aspirational middle class is one of the fastest growing segments of its population. Add to it another fact that we are one of the youngest populations in the world, therefore the demand for big-ticket items like consumer appliances, electronics, watches, apparels, home decor and furniture, and other luxury items is constantly on the rise. Pine Labs' PoS terminals support an integrated network of many banks and NBFCs that offer to their consumers attractive EMI offers at discounted rates and often at no additional cost to the consumers. As a technology platform, we enable the execution of this arrangement between the consumer and the lender through a speedier, secure, and 100% paperless EMI availing process at the checkout via our PoS terminals,” said Mayur Mulani, Chief Growth Officer - Affordability at Pine Labs.
In this piece, Pine Labs Pay Later Ecosystem research on no-cost EMIs has been instrumental in distinguishing between myth and reality, ultimately empowering individuals to make well-informed financial decisions. Here are some of the myths and facts you must know.
NCE has no linkage with a customer’s credit score. A customer's credit score is impacted by any default or delay in paying their monthly credit card outstanding/bill.