The enormous exposure to the western world and the ever-evolving technology is drastically changing our lifestyles. Ironically, our standard of living is not proportional to our salaries. We are getting close to being the brand conscious society and consequently, our expenses are weighing more than our incomes.
Today, we do not mind shelling a few additional pounds on the product that gives us an extra amenity or reduces effort in any way. This inclination to comfort drives us to buy things over and above our pocket sizes. Amongst the middle or low-income groups, expenses are always high and requirements are more. It’s a tough decision to fit a luxury item within the narrow monthly budget. Here is where the EMI or equated monthly installments come into play.
EMI enables in prompt buying and paying later in parts over a specified period of time. From housing loans to buying a branded pair of shoes or glares. Undergoing an expensive dental or cosmetic surgery or buying Jewellery. From buying a car to shopping for a piece of furniture or electronic gadget. Today, Emi solutions cover all the consumer durables and services. Surprisingly. we prefer the EMI option Irrespective of the presence of hard cash. This is because it gives us the privilege to postpone our expenses and pre-pone the happiness of buying straightaway.
Power to buy more, better and upgraded:
During festive seasons or year-end sales, one is tempted to buy more and shop for luxurious consumer durables. You can now take the advantage of choosing a product of a better brand, with upgraded features and of a better version than you would have, considering your budget constraints. EMI also enables one to buy more than one product or more numbers of a single product at one go.
Small interest bigger joys:
The craved luxury items like electronics, furniture, jewelry and mobile phones sometimes burn a hole in the pockets. A large number of Financial, non-financial institutions, charge minimum interest and processing fees on consumer durable loans. Additionally, Fintechs like us at Snapmint provide quick loans and easy repayment plans. The availability of an EMI alternative adds to the joys of owning and not just fascinating. The feeling of instant gratification and the relief of paying later definitely encourage buying.
Emi- the way to pay!
The inflation rate will keep rising every year and the brands and services will keep getting more costly day by day. Nevertheless, survival for a common man is only possible if he has a radiating bank balance or the EMI option, in order to afford the lifestyle he desires and the facilities he expects. EMI is irrefutably a savior for all. All things considered, EMI is surely the way to pay!