There are a lot of individuals in modern society who desire to get the latest smartphone, such as an iPhone or an expensive Android phone. However, their cost is so high that it may be difficult to afford them. Luckily, more individuals are currently utilizing the alternative of purchasing a phone via EMI without having…
A few days before, I lost my car due to some personal reasons, and I am a guy who is always in dire need of a car to travel and to work as well. I don’t have enough money to get a new car in no time, and this problem was so stressful for me,…
EMI or Equated Monthly Installment is the amount of money you pay each month against the loan you have taken at the decided rate of interest for a certain period of time. It mainly consists of a certain portion of the principal amount plus the rate of interest. Mathematically, it can be calculated as; EMI=Pr(1+r)n(1+r)n-1…
Hey there, if you’re like many folks out there shopping for gadgets or big-ticket items, you’ve probably come across “No Cost EMI” options on sites like Amazon or Flipkart. It sounds pretty sweet—pay in easy monthly installments without any extra charges. But if you’re a Muslim trying to stick to Islamic principles, you might wonder:…
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