Full Payment or EMIs? Which one should YOU prefer? | Personal Finance 2023 Ankur Warikoo Hindi

[@warikoo]

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[@joystick123456789101]

What's your opinion about Per Annum by Lendbox which is offering 9.5% interest with full liquidity? Better than these liquid mutual funds?

[@joystick123456789101]

@Warikoo ㊉①⑧⑤⑨⑥⑨①①⑦⑧⑨ What scam are you running bro...

[@anshujain3194]

And sir what about if paid through credit card on store after bargaining and good discount and pay him in full and at time of billing we select option of 6 emi and cc offering of1.5% cash back Plz sir clear this doubt

[@notshroud39]

Even if it’s the platform bearing the no cost emi, you can see in the card statement that there will be 3 components. One will be exact no cost emi amount and 2 will be additional tax/ interest .. nothing is free ib this world

[@himanshuagrawal8012]

Hi Ankur, Great Explanation. Thanks man. But just one clarification, is that a typo in 4:25? Instead of 1500, it is 6000..

[@Saursb]

Hi Ankur, the interest (simple interest) earned for the last option @5% will be just Rs 875 and not Rs 1500 as the principal will reduce by Rs 10000 each month.. Compound interest will be a bit more but nowhere close to Rs 1500. Also we should deduct tds from the total interest to come up with net earning.

[@jojohdk669]

Saurabh sir ka kehna tha ki apko 60000 to invest karna hi hai aur 6 months ke liye emi bhi bharna hai. It is not like that my 10000 rs will be deducting from the investment every month. The 10000per month will be a different payment.

[@vaibhavshendre1]

Same reply Dene wala tha me bhi 😂 Apni investment bhi 10k se minus hogi na each month

[@shiv6862]

Agree…. Thoda confusion h

[@InvestingEducator]

Hmmm

[@starboy001]

Exactly. He is referring k... 60K rkho 6vmonths tak khud invest krke fir Jake fone khareedi🤣🤣

[@rdias002]

Why does nobody ever talk about the GST interest we still have to pay on each EMI?

[@PeterGerald]

Government se panga ni leta koi 😜

[@hyperion9338]

That's also my question

[@jaiminmaurya1121]

yes I Would like to add some points 1) igst and cgst are charged on each emi. 2) And some banks charges you 199+gst as processing fee which is levied on first bill 3) Also many times bank charges interest and gives the interest amount back as cashback after emi tenure completes, Mostly Happens when you purchase from offline store where bank is running the offer.

[@px6497]

Thank you for raising the point. I was astonished to see gst on emi ...next statement i made the entire payment. Will see if sbi charges extra on my next statement. This is the only time I will be fooled though.

[@jitendermatwa8146]

@@jaiminmaurya1121 I purchased iPad of 25000 from Amazon using sbi credit card on no cost emi and by using sbi credit card no cost emi there was discount of 2000. Now it’s 2 months and in my credit card statement in both months they are applying interest on EMI, GST,CGST charge along with monthly iPad cost. In first there was 99 rs. Processing fees too. Also the CGST and SGST charges seem higher 139 139 each in these two months. I talked to customer care and they are just ignoring agreeing yes this is wrong but doing nothing they asked to mail us with bill photo and this will be resolved. Now it’s already 20 days since I email them and there is no reply yet. This is pure fraud from sbi credit card. I don’t know what to do

[@Raj_Das]

Purchased a TV on No cost EMI, HDFC actually gave me Rs- 10,000 discount on the product. Also The EMI is excluded GST on interest. So the bank/store is giving me the GST on interest too. Only negative is that I couldn't collect the credit card reward points on the transaction

[@RyderNitzz]

What I'v observed with NoCost EMI is that Merchant bears the Interest fee (while overall amount we pay remains the same), what then happens in Bank Statement is that: Processing Fee is charged by the Bank with 18% GST on it, and while we do not pay the Interest amt we certainly have to pay GST on that interest amount. So essentially we pay say, for ICICI, 199+GST, and GST on Interest.

[@sanjibgayen7187]

I also observe this. Not sure what is this charge for. Thanks for sharing this.

[@varaprasad7635]

Is that GST ON EMI or GST ON INTEREST ??

[@akashpatel7034]

​@@varaprasad7635on interest

[@omkarpakhare8164]

@@varaprasad7635on interest

[@anmolverma5106]

There is an error at 4:37. The pricing should be 1500 for 6 months.

[@AdrenalineAkash13]

Exactly

[@notshroud39]

Video editor went with no cost emi scheme😂

[@theindian6822]

11:00 this.... This point make mr. Ankur wariqoo 1st choice for me... Yehhh.....💯✨✨✨ Vloging se ku6 to fayda hoga...

[@sanmakssunny7]

I went to Croma and Reliance to buy a 2 door refrigerator and said, I said I will pay all amount in CASH or thru debit card. But they said there is no discount for that. They said If you buy same item in 6 month EMI no cost EMI for processing fees of Rs750 and with discount of 10% and processing fees amount too will be refunded back after 6 month . Now a days no discount for anything if you pay in full amount in cash.

[@vijaymamoria]

That's true. Same case with me. In emi it was costing lower even after including all EMI charges.

[@roguesecurity]

One dark side about 0 cost EMI including the 4th option is, you will be indirectly taking a loan from a bank and your details will be shared with them. So they will start spamming you with a loan and other offers in future and you will have no idea why you are getting such messages from a bank with which you never(knowingly) shared your contact.

[@soumyasagarsahoo1720]

Hi Ankur, Great Explanation. Thanks man. But just one clarification, is that a typo in 4:25? Instead of 1500, it is 6000...

[@pionytudr]

Yes, it's a typo.

[@bhartiharper]

Yea

[@jaiminmaurya1121]

I Would like to add some points 1) igst and cgst are charged on each emi. 2) And some banks charges you 199+gst as processing fee which is levied on first bill 3) Also many times bank charges interest and gives the interest amount back as cashback after emi tenure completes, Mostly Happens when you purchase from offline store where bank is running the offer.

[@adr5754]

So we are only paying the 199+gst as extra, right? Or are we paying more money?

[@jaiminmaurya1121]

@@adr5754 ₹199+gst is charged by bank and IGST, CGST will be charged on each emi transaction

[@jaiminmaurya1121]

@@adr5754 I purchased AC of ₹36000 and did 3 months emi, I paid around ₹800 extra.

[@thecybersahil]

is processing fee charged on every installment i pay? for en eg. there is a phone of 20K on NO COST EMI for 6 Months so every month do I have to pay processing fee + GST?

[@jaiminmaurya1121]

​@@thecybersahilNo, Processing fee is just one time and that will be charged on 1st Emi. And On every Emi you have to Pay IGST and CGST.

[@kishorekb30]

The last option you may not get full 4-5% as every month there will be a pull out of ₹10k so even if we deposit in ST funds.. your interest returns is minimal... Also for every emi on all options you still need to pay GST 😄

[@naniga7794]

Yes we'll know hidden truth

[@Saursb]

And don’t forget to deduct the tds on the interest earned 😃

[@Raj_Das]

Used HDFC credit card to purchase a TV. First of all they gave me a Rs-10,000 discount on the product. With the discount the final price supposed to be 1,39,000. But HDFC charged me 1,37,XXX something. So nearly Rs-2000 to eliminate the GST on Interest every month

[@Rishi-hv4qp]

@@Raj_Das if i want to buy iphone 16 pro which is 1,14,000 or something like that so how will the emi work on that ?

[@RajkumarSinghania]

थैंक्यू सर आज आपकी वजह से मैं महिने का 20 से 30 हजार कमा पा रहा हूं और साथ मे अपना यूट्यूब चैनल भी चला पा रहा हूं.... बहुत बहुत धन्यवाद ❤️ ❤️❤️❤️❤️

[@Ananth...]

The lastpart was kinda eye-opening👀

[@siddharthmohapatra371]

There is also IGST charged on the zero cost emi. There by incurring extra cost over and above the emi amount.

[@meghaagarwal1503]

Watched so many videos to understand zero cost EMI but by far, this is the BEST. I am from the finance background as well but this concept was always greek to me.

[@ayanchatterjee2664]

The way you explain the topic is adorable sir ❤️ Thank you 😊

[@shreeharshabn5367]

Ankur Sir, there is a typo error. It should be 1500rs instead of 6000rs at 6months EMI to buy a product of 9000rs

[@arunitsingh3518]

Yes I noticed that too

[@siddhikenkre]

Thank you so much for this video! I'm tired of telling ppl that this EMI thing is a trap! Now I can just share this video 😁✌👍

[@tomirprotip4933]

whats ppl?

[@BarkaDog]

@@tomirprotip4933 people

[@dravhomeo]

Well try explaining me, i purchased a phone last month. I was getting the phone for 50k on down payment with cash or with debit card. On using credit card i was offered 5k discount and got the phone for 45k including processing fee and zero percent interest rate. Now my dear what would you have chosen ? I guess you should stop being blind and use what is best at that given time.

[@heisenberg9584]

​@@dravhomeobro tell me what do u feel now? was emi worth it? or they applied some hidden charges on emi??🙌

[@BatanagarParanormalSociety]

Last one is very impressive. Thanks for the share.

[@foodieforlife8263]

Interesting video. I have been following you for some time now… However option 4 also has a catch which you missed covering. When a credit card company offers 0% interest installments, they ensure that you continue with them for the period of the installments. The risk here is that, for any reason if you try to close/cancel your credit card, the remaining installments will be charged along with an early settlement fee. This is what many banks have started doing now, so just thought people should be aware of the single as well.

[@SonuKumar-mp2ku]

बहुत अच्छा से समझा दिया सर आपने।

[@zi420s]

I do the opposite of the last method. I keep my phone for 3 years. So I know in advance that I am going to buy one in the coming year. So I divide the amount by 12. Invest each month as SIP. And then take out the final amount. But now I think your method is better to get more interest.

[@Diljitsingh23311]

if we invest 60000 on lets say 5 to 6 percent and from where we'll pay monthly emi at the end we have to pay emi on every month

[@jagjeet_chandok]

From your income/salary

[@ppsaha1994]

Your income obviously. You should only buy something on emi if you can buy something from your salary. (Property excluded)

[@AKGAMING-cv1hb]

Sir aapke long format video achha feel aata hai...

[@AvinashKumarBarnwalKol]

The challenge I see with the 4th option, no cost EMI, is that once you put the entire money, say 60k in some instruments say corporate bond for a year, you will have the money back (and of course the interest) by EOY. But in between you have the EMI to pay every month, which you don't have now. One has to use some extra money for that.

[@mmohitx]

Last month I bought an iPad with no cost option and put the money in P2P lending platform with ROI 9% (Cred MInt), I withdraw only the emi amount just 5 days before the due date.

[@rishimegharaj2913]

Bro same doubt I had... Exactly

[@caesar_cipher]

you could put it in a sweep-in FD - that way u earn optimum interest for the time invested and also withdraw periodically when u need to pay emi. But one should check the exact fees and interest charges for early withdrawal associated with the sweep in FD

[@Diljitsingh23311]

@@caesar_cipher but bro the interest will not be that much as ankur sir said in his video

[@sagardhangar6321]

They all want you to encourage investing in some or the other way. That's how they(industries) and you(individual) can financially benefit. Better plan SIP beforehand and then buy the product instead, you'll also get time to think if its really needed.

[@meenupipat9974]

Thank you Ankur, it's an insightful video. One more point could have been added - GST applicable on each EMI and that is also an added burden with zero-cost EMIs. Some correction required on a screen where break-up of 9000 in 6 instalments was showing as 6000×6. Although the verbal explanation was right, it was an error in the visual presentation.

[@YourDecentFather]

Want to know about*Short Term Assets* Please make a detailed like this😍😍🥳 Thank you so much for your efforts

[@YourDecentFather]

@warikoo ㊉①⑧⑤⑨⑥⑨①①⑦⑧⑨ gaa*d me daal le tere ye saare benifits

[@lifeon4legs]

Mr Warikoo sir. You are a highly trusted and respected content creator. I really hope the companies you are promoting are equally trustworthy. Otherwise, really thankful for your content.

[@SaurabhModh]

One more thing which is not covered... IGST charges towards Interest Payable towards EMI.

[@Raj_Das]

Used HDFC credit card to purchase a TV. First of all they gave me a Rs-10,000 discount on the product. With the discount the final price supposed to be 1,39,000. But HDFC charged me 1,37,XXX something. So nearly Rs-2000 to eliminate the GST on Interest every month

[@Gamer_file_ERROR]

10:42 But 60k 6 six months ke liye rakhenge toh Mahine ke 10k kaha layenge Wo to 60k hi se cut karna padega, phir 50 rahega, aise hi 10k karke minus karna padega Or toh aap calculate kar rahe ho 6 months ke base pe,, o to mane usse pahele intrest nhi dega A sab apply hoga jab aapke pas bohat paisa ho 😑, 10:42 bakwas 😑 But i respect you sir

[@abhishekpatil1907]

Really good information thanks

[@Intenzon2005]

Ap toh gajab baat kar raha yein, ma apna mummy ke ek phone kharida NO COST EMI pe, asli price se 3000₹ down ho gaya tha EMI click kartein😊

[@AnishSinghania92]

Actually there is a GST component applied on the Interest value that the customer has to bear in case of CC No-Cost-EMIs. That cost is always hidden from the customer.

[@adityasinghai8085]

if it is no cost emi means interest is zero. so how can you put gst on zero interest?😂

[@PrinceKumar-gl5fk]

@@adityasinghai8085 go and study

[@adarshchacko6137]

Please do a similar video on surcharge levied on fuel (petrol / diesel).

[@karanbheda]

For option 4th and all options, there is a GST on the installment. So 10K / month will go up by a "nomimal" amount which otherwise would be Rs.0 if you pay upfront.

[@karanbheda]

@adminn_ what number?

[@rayanfernandes]

@@karanbhedahe’s a spammer

[@radhikagokani3660]

I used to think its actually zero cost emi and make purchase on Flipkart. But after a time I noticed Flipkart charge my credit card the entire amount and then it gets converted to emi on its own and I can see some extra charges in statement. Then I realised it not actually zero cost emi .

[@DeeptiMSHealer]

Informative 👍

[@random-0]

I just came here to answer this question No-cost-emi is not a scam if you are financially literate person. Else everything is a scam. One of my friend don't use credit card and he takes loans from his/her friends all the time and is in huge debt any time of the year. So just become financially literate

[@TECHNICALPRABHATPINTU]

Nice information 👌

[@sankuM]

Hey @warikoo, simply explained the 'reality' of Zero-Cost EMI or No-Cost EMI!!! 🙌🏻🙌🏻🙌🏻🙌🏻But at 4:26, I think there's some sync gap b/w the example you give and the amount shown... you mentioned about ₹1.5K/month but the image showed old example of ₹6K/month!!! Do check and correct if possible. Thanks!!!

[@shreychanchad2325]

very well explained sir wari!!! :)

[@adityavarpe6326]

for the 4th option you actually need to have 2x the money or just pay from the monthly salary for 6 months

[@shazebalikhan9407]

One reason for companies to offer such EMI options is to lure you to buy expensive items that you wouldn't have bought upfront. I have seen people fall into this trap and make bigger sized purchases than they actually intended to.

[@SBhttacharya]

Kindly discuss about the cars also, how to purchase a car wisely, if someone wants to avoid emis or want to close the loan asap

[@anirbandas844]

The best explanation of Zero Cost EMI I've come across 🙌

[@SakshamGGM]

Yah video dekhne ke bad yah pata laga ki loan ki vajah saving per Dhyan denge to bahut accha hai 😮

[@zombietwenty]

Also one more input. In the shorts channel advert in the end you mention "no long format content to confuse you" but that would brand all your long format videos as confusing also! Maybe you can rewrite the line.

[@Varun_Krishna18]

Isn't that an error @4:25? It should be 1500 right instead of 6000?

[@bhartiharper]

Sir you could have added one more case where these companies give you instant cashback on EMI. Because they say that whatever interest you are paying, we are offering that much amount as discount. It's somewhat like Case-3 only

[@TheEnthraller]

And after getting that cancel, the emi ans preclose it You'll have to bear some charges, but it'll be lower than what the final interest you would have paid

[@gunjaan6674]

Excellent! Simple answers to market gimmicks about emi. Thanks

[@souravbarui8079]

Hi Ankur, having watched your video always ask whether it's actually adding value to my living or wasting time & ended up finding the importance of your content in our life. That's the way to make us wise in every part of life.

[@ashishviswakumar]

Very informative video. Thank you

[@kajalsarkar6535]

EXCELLENT CLARIFICATIONS ABOUT 0⃣ COST EMI.THANKS A TON MR ANKUR.GOD BLESS YOU AND YOUR FAMILY AND YOUR ENTIRE TEAM.

[@mahendrachoudhary7346]

ankur sir there is mistake in shirt emi is written 6000 but it should be 1500 per month time 4:24 in the video

[@TripppleAAA]

Sir hatts off to u , me too stucked in no coast Emi and it shows by Amazon but it's credit card convert it at monthly cycle to emi option then charge 300+18% gst on it at purchase of 30k, means every month I will pay 300+gst which is total 2500 which is interest of 30-40% per annum loan by bank ,

[@pokechannel9758]

Zero cost EMI that you are talking about in option 4 is also not a zero cost emi. You said that zero cost emi is kept on big sale days so in those days they can increase the selling price of the product to get the amount they paid back.

[@whatsapp.2100]

WhatsApp this line

[@garima.yog12]

Omg I was about to make a purchase through this..just came here to see how everything works..just cancelled the purchase.Thankyou sir.

[@seenivasantamilmani9944]

Thank your clear vision

[@ravithej4918]

11:10 calculation wrong u directly took intrest for 60000 for 6 month ...no actually u will be paying 10000 every month means for the 6 th month ur intrest from fd is lesser🔥

[@Goldsimith]

Great tips said to us with best manners, it's superb.

[@curiousMan69]

I have a confusion. How would I be able to differentiate between option 1 and 4 as the prices may not be transparent on the platform? Does in option 1 base price of the product gets reflected on the final checkout page?

[@ajitwaghare]

Thank you so much sir 💖

[@shubhamsalunkhephotography5610]

Watch your formal conversation with Amrita ma'am learn alot ankur sir ❤️

[@ganesh0709]

Dear sir, In the example of t-shirt the value of emi specified in chart is 6000 and not 1500

[@Amaan.803]

Please make a video on zero cost term insurance.

[@dipeshpatel6643]

Very good video Ankur sir.

[@ourmail3907]

Great Video very educative Sir Can you explain the use of Credit card and redemption of credit points

[@Snatch_184]

Here's what I do. I take no cost EMI where I don't have to pay anything extra. I get upfront discount on the product from the platform. Then I close this loan in the first month and pay it off completely. This way I nearly double the discount on the product 😁

[@Kunjappikanna]

How does that happen? Can you explain please?

[@rb300tzp]

Yes. I also do this. You get the upfront discount also & you need not pay the interests of the remaining emi minus the processing fees & gst

[@TheEnthraller]

​@rb300tzp which card did you use I'm thinking of doing this using hdfc millenia credit card

[@vikaskarade5585]

You forgot to mention one point about the no cost emi: This distributed payment structure may make people to buy stuff which they would not need at that cost even when they have money, because of the cost/benefit ratio...

[@shauryaawasthi1770]

Give a video regarding credit card and it pros and cons please and which is best credit card to use in India

[@SanchitNakra]

Sir, I want to add a disagreement here.. If a person buying an expensive phone for 60,000 do you really think he will be interested in investing and saving 1500.. If he so much in investing or saving money he must have bought a phone for 10-15k or max 20k knowing that phone is a depreciation asset.

[@nitinpatil16]

With due respect i think there is editing issue in time span of 4:30-4.:44 where the number should be 1500 instead of 6000

[@sagarkumbalkar83196]

Sir, You are Awesome 👍

[@nipunjoseph4616]

Sir, what is your opinion about buying an ev in Flipkart for emi/ buying it directly from showroom?

[@nileshpatidar2218]

Believe it or not ,but I too bought a phone of worth 15500 during big billion days on the day 1 of my credit card month and did FD of 15500 for next 44 days and earned some💰........on it.

[@JaspreetKaur-nk9uq]

Love you bruda

[@dravhomeo]

Well try explaining me, i purchased a phone last month. I was getting the phone for 50k on down payment with cash or with debit card. On using credit card i was offered 5k discount and got the phone for 45k including processing fee and zero percent interest rate. Now my dear what would you have chosen ? I guess you should stop being blind and use what is best at that given time.

[@heisenberg9584]

bro tell me what do u feel now? was emi worth it? or they applied some hidden charges on emi??🙌

[@Diljitsingh23311]

Literally i am no joking I searched for this topic yesterday

[@Amiittk]

Emi for me is convenience more than anything else.. Instead of paying 52k once for a phone, i prefer to pay that in 18 months with a emi of 3k odd. There by allowing me to have more cash in hand for other important things like any medical Emergency or say buy a dip in a stock, any other. Plus when you use a credit card, its convenient as u have pay at the end of the cycle which is typically 50 days. And I am talking about a No cost EMI option.

[@prashant19sep86]

@ankur In today's world it's very common that we keep or want to upgrade our gadgets electronics furniture etc after every 2 to 3 or 4 years. Please suggest a smart way that we can adopt so that we have to pay less and still able to upgrade. Ofcourse we have to pay money for the upgrade but what can be the best way? Please suggest

[@kittyhubbs]

I just love ur voice sir...😍

[@npavan888]

Thanks for the information

[@zombietwenty]

Will you change the graphic which shows 6000 K as emi when you talk about emi being 1500?

[@harahilpatel3837]

Grateful 🙏🏻

[@rishukashyap3077]

Thank you very very much Sir!

[@PiyushKumar-dl6pm]

you can not get 4 - to 5 % interest because at the time of phone pament apko 10000 dene honge bache 50000 isko fd mei daloge phir next month 10000 nikalna isse karke nikalta rahe ga each month to intrest 1-2 percent hi banega

[@pravasranjan6952]

Nowadays people don't use paper money majorly 🙄.....most of people go for e-payment 👍....I think this is the reason peoples expenses are increasing day by day in worst things😑...

[@chetanharne2355]

9:48 Sir Actual price 59,900 hai & 4000 Diwali discount and 2000 HDFC credit card instant discount and it offers no cost EMI and there is no processing fee. Kay ye actually no cost EMI hai kya..?? Plzz tell mi sir

[@gauravkhuspare42]

Sir ,ek video banaye on pay 1/3 companies plz...is that a flop idea from NBFC's .... basically how it was working at backend 👍

[@wariko1]

Thanks for the comments Drop your message on the WhatsApp number above for Guidelines and information on trading..

[@Sadiqslens]

At 04:25 - The calculation below 9,000 should have been 1,5000 instead of 6,000.

[@pokechannel9758]

You too are wrong. It should be 1500 and not 15000

[@ganesh0709]

I had purchased a laptop via flipkart last year, with credit card emi for 12 months, where gst on credit given was also charged, it amounted to Rs.452/-

[@NamesDontMatter1992]

Croma had a real Zero cost emi scheme. I bought two TVs for my family members and they gave me an instant cash back of 10k and they even refunded my processing fee.

[@AdityaRaje]

In the last example, If you are buying using an ICICI Amazon Credit Card then they are giving you flat 5% off in the start itself. I think that makes more sense instead of putting that money in some bond to earn that 5% ...

[@GamingChannel-zy8js]

I bought iq00 Neo 6 using SBI card with no cost EMI It cost me 25500/- When it's actual price is 32000 So it's not every time bad...do your own analysis

[@SiddharthaSankarDutta]

Thank you so much for this video!

[@monikajain5266]

Sir a big fan of yours. Always learn something new from you

[@archimedes1608]

Time stamp 4:23 Why in e.g of T-shirt, 6 installments of ₹6000 was shown for ₹9000 price? Shouldn't it be 1500, 6 times

[@PeterGerald]

Hey Ankur, you've a typo in this video. 9k Tshirt payments are shown as 6k monthly.

[@sauravpatra1474]

You forget about 18% GST on interest charged by the bank on monthly EMI.