Payment & terms
Pre-approved or instant credit
How it may influence
"Already approved" can skip the moment you would normally stop and think.
Evidence to check
- What do the Key Fact Statement, APR and penalty charges say?
Useful step
Ask for the Key Fact Statement and read it before accepting.
When this is reasonable
Pre-approval can be convenient when the terms are clear.
Related Indian rule (for information)
RBI Digital Lending Directions
Tamil Nadu examples (illustrative)
- Online sale: "No-cost EMI" on a TV, with a processing fee shown only at checkout.
- Course call: "just ₹999 a month" without the number of months.
- Showroom: "exam fee extra" or "installation extra" mentioned once, quietly.
Sources
This page is a general explanation only; it says nothing about any particular seller.