What is meant by Zero percent Processing fee EMI? - Basunivesh

Q & A Forum › Category: Banking › What is meant by Zero percent Processing fee EMI?

Hi Basu,

I am planning to purchase electronic gadgets ( Iphone 6s and Microsoft Surface Pro 3) and some other home appliances. I seen many ads ” Zero Percent Processing Fee EMI”. What does it mean. How they will calculate?
How consumers be benefited?

Thanks &Regards,
Praveen V

Question Tags: Zero Percent Processing Fee EMI

1 Answers

0 Vote Up Vote Down

basunivesh Staff answered 1 year ago

Processing charges may be ZERO but it does not mean that they are doing social service. The same is increased in interest rate of the loan. Hence, never rely on such offers. Also, first think whether the gadget you want to buy is NEED or WANT.
Refer my earlier post on the same “Univercell UMI (Univercell Monthly Installment) Offer-False claim of 0% interest !!!“.