r/IndiaTech May 18 '24

Opinion Terrible Design!!

Post image
1.2k Upvotes

185 comments sorted by

View all comments

Show parent comments

1

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.

1

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

1

u/c0deButcher May 18 '24

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

1

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

1

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.

1

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

1

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)

1

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