No Cost EMI Offers on Mobiles, TVs, Laptops, Furniture, Clothing & More


Is it something you’d like to buy at absolutely no cost? Want to know the steps to getting no-cost EMI? Are you curious about the procedure for a loan with no origination, no-cost EMIs? Don’t worry, though; all your questions concerning EMI at no cost will be answered here.

What is a no-cost EMI?

EMI means you can pay for a product or service with manageable monthly instalments and no interest if you take advantage of an option called no-cost EMI. The full purchase price is all you owe, with no further interest added.

How does the No-Cost EMI Scheme Work?

  • The vendor may impose a processing fee of 0.5% to 3% in addition to an interest rate of 8% to 15% in the case of regular EMIs. If a customer buys an item with a total price of Rs. 12,000 and chooses the normal EMI payment plan over 6 months, their payments will look like this:

Time = 6 Months

Money put up front = Rs. 12,000

Interest Rate = 12%

Processing fee = 2%

 This means the monthly charge to the buyer is Rs. 2,157. They’ll have to pay Rs. 441 in interest and Rs. 250 in processing costs. Thus, the buyer’s final price will be Rs. 12,691.

  • In the case of interest-free and fee-free EMIs, the buyer will not have to pay any money toward the cost of the product. If a customer purchases an item costing Rs. 12,000 over 6 months using EMI, then the monthly instalment amount will be Rs. 2,000. No interest or processing fee will be added to your initial payment. That brings the final price tag to Rs. 12,000.

No-Cost EMI Benefits

  • Allows one to affordably upgrade their standard of living by purchasing high-priced items in increments.
  • Previously, zero-interest EMI was only available for large-ticket items like smartphones, washing machines, and laptops. This has now been expanded to include smaller purchases like furniture, cosmetics, travel, etc.

No-Cost EMI Disadvantages

  • The EMI credit with low cost is quite similar to the EMI credit with no cost. The final cost to the customer may be far more than if they had paid with cash.
  • If the EMI is free, the consumer may use the money to buy things at random, which can be expensive.
  • If the EMI isn’t paid on time, it could hurt the borrower’s credit.

Online Stores that Offer a No-cost EMI Option

If you’re looking to make a large purchase online and take advantage of the no-interest EMI plans offered by retailers like Flipkart and Amazon India, you can do so with complete peace of mind. To prevent their consumers from having to dig too far into their savings for the sake of completing a purchase, these two online retailers provide the no-cost EMI option.

1. Flipkart

The online retailer, Flipkart, has partnered with 13 financial institutions to provide this financing option for their consumers. However, this choice is limited to a specific set of items. Flipkart does not tack on any sort of processing or interest cost to the price of the merchandise. If a person decides to buy a refrigerator for Rs. 18,000 and pay for it over 9 months, the monthly payment will be Rs. 2,000. There won’t be any hidden fees associated with this deal.

2. Amazon

American online retailer Amazon’s Indian arm has partnered with eleven financial institutions to offer interest-free instalment payments. These institutions include Standard Chartered, Axis Bank, HDFC Bank, Yes Bank, HSBC, Citibank, Kotak Mahindra Bank, SBI, RBL, and the EMI cards of NBFCs (non-banking financial companies). If an item is eligible for no-cost EMI on Amazon. in, the buyer will not incur any additional fees during the checkout process. For instance, if they want to buy a TV for Rs. 21,000 and pay for it in nine equal monthly instalments, the total they will pay over the year will be Rs. 33,000. As a result, they’ll have to repay Rs. 21,000, the full amount they borrowed. The maximum EMI period that Amazon. will accept 12 months.

The process to Avail No-Cost EMI While Shopping Online

The following are the steps a shopper must take while purchasing electronics and home appliances from online retailers like Flipkart and Amazon.in :

  • Choose the item you wish to purchase.
  • They must determine if zero-interest EMI/no-cost EMI plans are available for the product in question.
  • The buyer should investigate all payment plan choices if the goods are eligible for EMI.
  • On the payment page, users must choose the EMI that they believe is appropriate for their budget.
  • The customer must then provide their credit card information, which includes the card number, cardholder name, expiration date, and security code.
  • Their entire principal amount will be held after they move forward with the checkout.
  • A detailed explanation of the transaction will be sent to their designated email address.

The process to Avail No-Cost EMI while Shopping Offline

When purchasing high-priced items like furniture, appliances, and electronics from a physical store, the shopper must take the following precautions:

  • Once a customer has decided on a product, they can choose an EMI plan that works best for them. At most stores, one can choose from 3, 6, 9, or 12 months of EMI.
  • The next step is for them to fill out a form with their information (name, phone number, address, EMI option chosen, and signature).
  • Along with the form, they must also include a copy of one form of identification and one form of residency verification.
  • Once all the paperwork is finalised, they can take the product with them.


The purpose of this article is to give a comprehensive examination of no-cost EMI. If you want to buy something pricey but don’t have the cash on hand to pay for it all at once, a no-cost EMI loan might be a good option.