American Express India EMI: what it really costs

Interest, processing fee and closing charges from American Express India's own documents, checked on 26 October 2026.

Point of Sale EMI

Credit card EMI at checkout

Interest: 14% to 15% a year
Months offered: 3, 6, 9, 12, 18, 24
Processing fee: ₹199 plus GST
Closing early: 3% of the amount still owed, plus GST
On no-cost EMI: Amex charges full interest plus GST. The shop gives an equal discount. The ₹199 fee still applies.
Smallest purchase: ₹5,000

Source: www.americanexpress.com, www.americanexpress.com

Post-purchase EMI

Credit card, converted to EMI after buying

Interest: 16% a year
Processing fee: 2% of the amount plus GST
Closing early: 3% of the amount still owed, plus GST
Smallest purchase: ₹5,000

Source: www.americanexpress.com

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.

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