Watch out for hidden charges in no-cost EMI schemes

Use buy-now-pay-later offers only if you can make timely repayments

- HIMALI PATEL

E-commerce giants such as Amazon and Flipkart have rolled out their Freedom Sales, offering opportunities to upgrade wardrobes, gadgets, and big-ticket items. Others will follow suit as the festival season gets underway.

Experts caution that inflated maximum retail price (MRP), complex equated monthly installment (EMI) schemes, and misleading "deals" mean not every offer is a genuine bargain.

Spotting genuine discounts

Festival sales often promise massive discounts. But sometimes platforms hike prices before the sale and then show fake discounts. "Track the product's price a few weeks before the sale to check if it was inflated and then slashed," says Nirav Hemani, cofounder, Aabo.

Harsh Vira, certified financial planner and founder, FinPro Wealth, a financial services and education firm, recommends using price tracking tools like Keepa and Price History to check whether a discount is genuine. Conduct checks for the latest model you intend to purchase, as heavy discounts often apply to older stock.

Use price comparison tools

Price comparison tools and alerts remove the guesswork from festival shopping, helping you snag genuine deals.

"Always search using the exact model name or number to avoid a mismatch. Set a target price you are comfortable paying," says Hemani. Enable email or app notifications so you can act quickly when the price drops.