No-cost EMI sounds free, but it is not always so. A bank always charges interest on a loan. Shops often recover that interest by removing a discount or by adding it to the price.
Check these before you buy:
1. Compare the total price for EMI and for full payment.
2. See whether a discount disappears when you choose EMI.
3. Check the processing fee and the GST charged on interest.
4. Read the terms of the bank card offer.
5. Ask about the charge for closing the loan early.
If the total paid in EMI is higher than the cash price, it is not really no-cost. The EMI tab in our tool helps you work this out.