What is No Cost EMI | NO Cost EMI | Explained in Hindi with Example | Expert Vakil |

Normal EMI: In regular EMI there is a Interest rate and Processing fee, the interest rate lies between 8% to 15%, and the processing fee lies between 0.5% to 3%. So if you have bought a product on EMI of Rs.12000 which is to be paid back in 6 months, then the calculation is like this -

(EMI=Rs.12000, Tenure = 6 months, Rate of interest = 12% , Processing fee = 2%)

Then every month you have to pay is Rs. 2157 , where the loan amount is Rs. 12,000, Total interest to be paid is Rs.441, Total Processing fee is Rs.250, Therefore the total amount payable is Rs. 12,691.

No-Cost-EMI: In no cost EMI, the interest rate and processing fee is 0%, so if you habe bought a product on EMI of Rs.12000, which is to be paid back in 6 months the the calculation us like this-

(EMI = Rs.12000, Tenure = 6 months, Rate of interest = 0%, Processing fee = 0%)

Then every month you have to pay Rs.2000, where the loan amount is Rs.12000, Total Interest paid is Rs.0, Total Processing fee is Rs.0, Therefore the total amount payble is Rs.12000.

Subscribe
******************
https://www.youtube.com/channel/UCC--fcPOCZR6RJUNQEeIaEQ?sub_confirmation=1

More Video...

Hashtag
******************
#expertvakil #legalknowlege #legal #legaladvice #lawyer #advocate #legalhelp #lawinindia #onlinelegaladvice #lawyeradvice #onlinelegalhelp #familylaw #criminallaw #civillaw #ipc #crpc #legalnews

For more information...
Visit : https://www.expertvakil.com
M : +91-8980028995
Email : info@expertvakil.com
Email : expertvakil2017@gmail.com

Join Us Online on:
Facebook https://www.facebook.com/expertvakil/
Twitter https://twitter.com/expertvakil/
Linkedin https://in.linkedin.com/in/expertvakil/
============================================
Thanks and Regards #ExpertVakil

LIKE | COMMENT | SHARE | SUBSCRIBE

Disclaimer : The information provided on this channel and its videos are for general purposes only. All opinions expressed here are my own & am not compensated by any financial institution for this.
______________________________________________________________
no cost emi,what is no cost emi,zero cost emi,0% emi,no cost emi on amazon,no cost emi offer,flipkart no cost emi,amazon no cost emi,what is emi,emi,no cost emi on credit cards,emi card,bajaj finance card,equated monthly installment,bajaj finserv emi card,credit card,credit card fraud,bajaj emi card,bajaj finserv,amazon,flipkart,credit card emi,emi fraud,loan emi,bajaj finserv card,personal loan,interest rate,no cost emi expose,theindianfever expert vakil,expert,vakil, lawyer,advocate, legal help, law, legal, cyber crime, law in india,Legal Knowledge,Legal knowledge,legal knowledge,