Many Indians balance dreams of owning a new home with hopes for a secure retirement. The EMI versus mutual fund SIP debate is widespread. India’s retail loans exceed ₹50 trillion1, comparable to the country’s total mutual fund assets. However, the immediate effect of EMIs and SIPs on the common man’s wallet is quite the opposite.
EMIs: Building Assets, Shouldering Debt
EMIs as a financing option arrived in the late 1980s and early 1990s. Rising incomes and global exposure spurred consumer aspirations for assets like cars and homes. Instead of focusing on the Maximum Retail Price (MRP) of goods, EMIs caught the public imagination as they made costly items affordable through monthly payments.
This story is from the August 2024 edition of Outlook Money.
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This story is from the August 2024 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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