EMIs options

Question ID: 29856

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.

Jazakumullahu Khair.

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Asked on November 26, 2013 8:50 pm
Private answer

One is cash price.
One is price of the item to be paid on installments
. The above is the second. Permissible.

Marked as spam
Answered on November 26, 2013 8:50 pm