Lets suppose you BUY a new Sony LCD TV Costing Rs 50,000 to enjoy the ongoing IPL Season. However, your monthly take home salary of Rs 75,000 may not help you pay the next credit card bill which has this Big Ticket Purchase of Rs 50,000. So what is the way out ? 3 Letter Word EMI. – Equated Monthly Installment. Banks have tied up with Retailers and are increasingly pushing for EMIs on Consumer Durable Products.
So what is EMI on your Credit Card Account ?
Lets assume that you have a ICICI Bank Credit Card with