What is EMI? Have you ever purchased any product on EMI? How convenient is it?

Question Posted / chandu@a

What is EMI? Have you ever purchased any product on EMI? How convenient is it?..

Answer / Sangam Pandey

EMI stands for Equated Monthly Installments, which is a method of loan repayment where the borrower pays a fixed amount every month over a specified period. Yes, I have purchased products on EMI. It is quite convenient as it allows consumers to buy expensive items by paying them in installments over a longer period.

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