Qrates

What does this EMI really cost?

Type the price and pick your bank. We add the interest, the 18% GST on it, the processing fee and any discount you give up, then compare it with paying in full. We earn nothing from any shop or bank.

Why no cost EMI is not free

  • Every card EMI is a loan. On a no-cost EMI the shop gives a discount equal to the bank's interest, so the instalments add up to the price.
  • The bank still bills 18% GST on that interest every month.
  • Most banks charge a processing fee, plus GST, to set up the EMI.
  • Sale offers often give a bigger discount for paying in full, which you give up by choosing EMI.

EMI charges by bank

Checked on 26 October 2026, from each bank's own documents.