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The Economic Times

Economy / The Economic Times

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No cost EMI a scam? CA warns why it can be a financial trap targeting middle class

No-cost EMIs are popular in India, making big purchases seem affordable. Chartered accountant Nitin Kaushik warns this is a psychological scam. It makes people focus on monthly payments, not overall affordability. This can lead to debt that burdens future finances. Kaushik suggests a 'buy it twice' rule to gauge true affordability. Consumers should consider future obligations.

3 Jun 2026 7:10 am