EMI Trap: The Hidden Truth Behind Loans & How to Escape the Debt Cycle!

• A survey reveals people earning ₹35,000-₹65,000 pay ₹28,000-₹52,000 in EMIs, over 80% of salary.
• Many resort to 'rolling' debt, taking new loans from apps or BNPL to pay off old ones, deepening the trap.
• 72% of survey participants reported severe harassment from recovery agents, including abusive calls and threats.
• People fall prey to fake loan apps due to urgent financial needs like medical emergencies or job loss, especially with poor CIBIL scores.
• Despite RBI crackdowns, illegal digital lending apps and BNPL schemes continue to trap consumers in debt.

Why It Matters: Beware of the EMI debt trap; verify loan app RBI registration, check terms, and avoid apps requesting excessive permissions.