Converting credit card purchases into EMIs can provide an effective approach to handling a large purchase. Generally, there will be fees associated with this convenience, which may be different based on the credit institution. In order to make sound financial choices in your best interest you need to understand these fees.
Factors influencing EMI conversion charge
Costs associated with EMI conversions can differ based on many different aspects:
In conclusion, you must first identify if any costs such as the interest rate, the processing fee or even penalties for closing the EMI early will apply. By understanding the associated costs and thoroughly reviewing the terms offered by your credit card, you can make informed choices to promote your financial health.
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