Assalamualaikum Mufti Sahab,
I want to know about EMIs option. Like on plenty of shopping websites they offers EMI option to the buyer.
EMIs are like 3,6, 12 months. And it depends on the MRP of purchased items divided by EMI month we selected.
for e.g. if item is of $600 and we select EMI of 12 months then we need to pay $50 per months for 12 months.
Along with it they charge some processing fees.
Want to know shariah about it.