Help me understand credit card emi bill
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Hello,
Recently on 20th oct, I have purchased few items from Flipkart using SBI cashback card with 9 months NO Cost EMI option.
Final Bill was around 38k change with one time payment, but I opted for NO Cost EMI option using SBI cashback card with 9 months & with all offers and final bill came around 35701 rs. EMI is 4231 rs per month plus processing fee of 199+GST which equivalent to 38k change.
The problem is, I am being charged with interest on EMI (attached Pic) and If calculated final amount by the time I clear EMI, It will be around 39k to 40k. If i have opted for single payment, I could have brought it for 36.5k including cashback.
IS interest on NO Cost EMI is normal? or just gimmick or misleading?
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There will be two extra charges which will get added in your every bill. And that is normal
1. IGST
2. Offus emi transaction
Try to download your loan payment schedule. It will clear your doubt.