Zero Cost EMI

Meaning :

Example : 

For instance, purchasing a phone valued at ₹18,000 and paying ₹1,500 per  month for 12 months results in a total payment of ₹18,000, with no extra costs involved.

How to Understand Zero Balance Account : 

1.Consider Zero Cost EMI as a way to borrow money without any extra fees; you pay the  same price, just divided over several months.

2.This option allows you to acquire expensive items without having to pay the entire  amount upfront.

Importance of Zero Balance Account : 

1. Zero Cost EMI makes high-priced items more accessible by breaking down the cost into  smaller, manageable payments.

2. It alleviates the immediate financial burden by allowing consumers to avoid large  upfront payments.

3. This payment structure promotes planned purchasing, enabling individuals to buy  necessary items without financial stress.

4. It is particularly advantageous for purchasing electronics, furniture, appliances, and  other costly goods.