Credit Card EMI: Hidden Charges Banks Don't Tell You! Avoid Costly Surprises

• Credit card EMIs often come with hidden charges like processing fees (1-3%) that banks may not disclose upfront.
• "No Cost EMI" isn't truly free; interest can be embedded in the product price or offset by discounts, leading to higher total payments.
• GST (18%) is applied to both the interest and processing fees, silently increasing the overall cost of your EMI.
• Early closure of an EMI incurs foreclosure charges (2-5% + GST) on the outstanding amount, making premature repayment expensive.
• Late EMI payments result in significant late fees, high interest rates, and negative impacts on your credit score.

Why It Matters: Always check total payment, interest, GST, and foreclosure charges before opting for credit card EMI.