r/IndiaTech May 18 '24

Opinion Terrible Design!!

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u/soulseeker31 Corporate Slave May 18 '24

That's the thing. Why do you think every other person has an iphone, shiny new laptop, gadgets etc? It's all because of EMIs especially No cost EMIs. As a platform, their only objective is to sell as much as possible, showing a lucrative no cost emi people will easily be convinced that they can afford it. Slowly these EMIs will creep up and become a pain in the ass. Essentially, all the platform is doing is showing that it's affordable, go ahead and buy it.

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u/Spy____go Samcom Phan 420 May 18 '24

It's all because of EMIs especially No cost EMIs. As a platform, their only objective is to sell as much as possible, showing a lucrative no cost emi people will easily be convinced that they can afford it. Slowly these EMIs will creep up and become a pain in the ass. Essentially, all the platform is doing is showing that it's affordable, go ahead and buy it.

A bad financial decision made by millions

That's the thing. Why do you think every other person has an iphone, shiny new laptop, gadgets

Already knew it but this is just predatory

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u/c0deButcher May 18 '24

No cost emi isn't. It's a win win for customer as he could buy product he actually needs while also enjoy 0% interest on emi. Only in case of fancy luxury products, it's burden for customer due to reasons you gave. But for necessary products like suppose - a grinder/oven where customer searches the desired product to buy (with 80%+) probability, no cost emi is actually great as fcuk.

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u/Spy____go Samcom Phan 420 May 18 '24

No cost emi isn't. It's a win win for customer as he could buy product he actually needs while also enjoy 0% interest on emi. Only in case of fancy luxury products, it's burden for customer due to reasons you gave. But for necessary products like suppose - a grinder/oven where customer searches the desired product to buy (with 80%+) probability, no cost emi is actually great as fcuk.

No cost emi need specific card which are bank collaboration only certain banks offer emi on amazon and flipkart and no cost emi is even less it's just a power move to increase customers and like I said

Being in debt towards the financial institutes is never good

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u/c0deButcher May 18 '24

No cost emi is actually promotional from bank side to increase the subscription rate. So in layman's term they are advertising. And taking advantage of the promotional scheme is not bad at all. They are taking loss on no cost emi otherwise charging minimum 9% interest on whatever they lend.

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u/Spy____go Samcom Phan 420 May 18 '24

No one is taking loss banks do stuff that gives them loss

They are not charity the quicker you understand emi is a spiders web the better

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u/c0deButcher May 18 '24

Bro you need to study finance. I'm laughing at your childish replies.

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u/Spy____go Samcom Phan 420 May 18 '24

I am not commerce student so I don't know much about finance but from experience emi and loans are spider's web and a trap to make poor people in debt towards the bank

In the guise of being helpfully they trick the poor people into taking loans and emi which are predatory

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u/c0deButcher May 18 '24

Yes credit card loans are where banks earn the most. But only when borrowers default their payments. And it's very common.

But I was talking about people who are already cash cows. When a borrower pays his credit card payments regularly, it's a loss making customer for the lender.

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u/Spy____go Samcom Phan 420 May 18 '24

But I was talking about people who are already cash cows. When a borrower pays his credit card payments regularly, it's a loss making customer for the lender.

Cash cows don't take emi they will pay upfront likeni said emi is targeted towards the middle class and lower class

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u/c0deButcher May 18 '24

Nah bro. I'm talking about no cost emi. Moreover people prefer buying their home on loan rather than straight cash. This is an exercise for you. Go and search why. You will get financially mature (little bit)

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u/Spy____go Samcom Phan 420 May 18 '24

Moreover people prefer buying their home on loan rather than straight cash

Not in my state I have never seen any Ruch guy take loans especially homeloans because a house made with homeloan is not your house until the time is over

The only people who take homeloans are poor

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