Of course, NO! You allegation anticipate of EMI advantage if and alone if you are on the border of behind on a payment.
Having said that actuality are some pros and cons of advantageous your acclaim agenda ante on equated account installments…
How adorable is the EMI option?
Any cyberbanking artefact that comes with perks, if not acclimated judiciously, additionally has assertive disadvantages that can be actual expensive. Take for instance, acclaim cards.
While the use of acclaim cards as a approach of acquittal has bent on well, best bodies don’t realise the added ancillary of application acclaim cards if one does not chase cyberbanking discipline.
If you absorb above your repaying capacity, best acclaim cards allegation acutely aerial absorption ante in the ambit of 36 per cent and 45 per cent if the outstanding acclaim agenda bill is not paid.
To accord with this, one may opt for equated account chapter (EMI) avenue that comes at lower amount of interest. Interestingly, one question, I am frequently asked is: how hassle-free and adorable advantage an EMI advantage of a acclaim affliction is?
Did you anytime opt for the EMI ability to accord your acclaim agenda outstanding?
Did you acquisition it helpful? How?
Or did it added advance you into a debt trap?
Please allotment your acquaintance with us!
Mail your acknowledgment to [email protected] (subject line: EMI on acclaim card) and we will column the best absorbing ones appropriate actuality on Rediff.com.
The columnist is a acclaim able with 10 years of acquaintance in claimed accounts and customer cyberbanking industry and addition 7 years in acclaim agency sector. Rajiv was active in ambience up India’s aboriginal acclaim bureau, Acclaim Information Agency (India) Limited (CIBIL). He has additionally formed with Citibank, Canara Bank, HDFC Bank, IDBI Bank and Experian in assorted capacities.
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