As Diwali shopping peaks, banks and e-commerce platforms are lighting up your screens with tempting deals — cashbacks, “zero-cost” EMIs, and easy financing options.
But while these festive offers may look dazzling, not all that glitters is gold.
Some of these “deals” could end up costing you much more once the celebrations are over.
The Truth Behind “No-Cost” EMIs
“No-cost EMI” offers are everywhere this festive season, promising you the ease of paying later without any extra cost.
But here’s the catch — in many cases, the product price is already inflated, or banks add a processing fee that quietly eats into your savings.
Even worse, if you miss just one EMI, the interest charges can skyrocket, turning your “smart deal” into a costly mistake.
Always check the final price breakdown before clicking ‘buy now.’
Don’t Overspend Your Credit Limit
It’s easy to get carried away during Diwali sales and swipe your credit card to its limit.
But experts warn against it.
Try to use only 30–40% of your card limit to maintain a healthy credit score.
If you max out your card, banks may view it as risky behavior, which can hurt your credit rating and make future loans harder to get.
For big purchases, consider splitting payments between multiple cards or using your debit card for part of the payment.
Late Payments Can Cost You Dearly
Skipping or delaying even one credit card payment can be expensive.
Banks often charge interest rates between 30–45% annually, plus late payment fees.
What’s worse — the default stays on your credit report for years.
To stay debt-free, always pay your full bill, not just the minimum due.
It’s the only way to avoid compounding interest and maintain a spotless credit history.
Beware of Fake Discounts
Those “70% off” flash sales may not be as generous as they appear.
Many retailers inflate prices before offering discounts, making the savings seem bigger than they actually are.
Before you buy, compare prices across multiple platforms to ensure you’re getting a genuine deal.
And remember — your credit card is borrowed money.
Every rupee you spend today must be repaid in full later.
Keep Your Diwali Debt-Free
The best way to enjoy Diwali without post-festival stress is simple: plan your budget, track your expenses, and avoid impulse buying.
Spend only what you can comfortably repay.
A debt-free Diwali is the real celebration — where the glow of your lights isn’t dimmed by financial worries.
