Know The Other Side Of Attractive EMI Schemes
4. Absence Of Discounts
Most often credit card companies tie up with product retail outlets to help customers choose for EMI schemes. Considering this, remember that if you opt for EMI you will not be eligible for any kind of discounts and offers that come with the product while purchasing. For example, if you are buying a phone that costs 
25, 000 and if you wish to buy it under EMI, you will probably charge with 28, 000 on the same.
5. Pre-Closure Penalties
When you prefer to buy a product on EMI basis, along with the interest rates, you will also be paying pre-closure penalty in the last month. Even though if you have full amount to pay back before completing the given time period, you will have to pay the pre-closure charge. Usually, these pre-closure charges will range from 2.5 percent-3 percent of the outstanding principal amount.
Also Read:
Are You Opting To Lower Home Loan Rate? A Quick Guide To Follow
5 Personal Finance Myths Which Can Make You Loose Money
