WHO would deny that equated monthly instalments (EMIs), which are all but tools that bridge consumers with product sellers, including those who vend loans to them, makes life much easier, particularly when one is in dire need of additional funds, mostly for buying something? The rates of interest that one has to pay while making EMIs payments are a factor of market conditions, and, in some cases, dependent on the ability to pay. The average consumer, thus, is almost always at the mercy of market dynamics. As it sometimes happens in the real world, EMIs tend to be discriminatory, and, therefore, the very purpose of EMIs gets defeated. The number of people who have actually gone through and experienced this would not be too small.

Whenever any festivity or special occasion knocks at the door, people tend to go on a buying or shopping spree. All leading domestic and multinational brands also latch on to this opportunity to lure in customers and hardsell their products and services with attractive EMI schemes. From an average consumer's point of view also, he or she gets the freedom of repaying the entire amount in phases after certain days of purchase, by availing of such EMI scheme. And that way, he or she stands to gain as well. But EMI schemes on offer may not actually be as attractive as it apparently looks to be and there can be cases where the very purpose of equated instalment gets defeated.

Given this, a customer opting for EMI schemes need to be extremely careful and cautious as well.

Before one goes out to buy one's favourite handset, laptop, or any other gadget, one must keep a close watch on few extra things that one is likely to pay for.

First, if you are buying something on EMIs, you have actually accepted and agreed that you will be charged with interest rates. But at times one actually opts for EMIs using e one's credit card. One must keep in mind that the g credit card company will also levy some additional d charges in the name of proe cessing fee and transaction t fee and the likes. And these extra fees differ from g one bank to another. Therefore, one must make these calculations (how much extra one will have to pay actually) before taking a final call.

While opting for an EMI scheme, it appears as if the cost of the product is split into several parts, so that it could be paid easily. But it's not just that. For those going for an EMI scheme it is never easy at first glance to understand how the EMIs are actually arrived at and how they work.

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