Bank of Baroda (BOBCARD) EMI: what it really costs

Interest, processing fee and closing charges from Bank of Baroda (BOBCARD)'s own documents, checked on 26 October 2026.

Smart EMI - Instant EMI

Credit card EMI at checkout

Interest: 16% a year
Processing fee: ₹99 to ₹999 plus GST, depending on the product and shop
On no-cost EMI: You pay "slightly more because of the GST on interest".

Source: www.bobcard.co.in, media.bobcard.co.in

Smart EMI - Post Purchase EMI

Credit card, converted to EMI after buying

Interest: Not stated by the bank
Months offered: 6, 12, 18, 24, 36
Processing fee: 2% of the amount, at least ₹100, plus GST
Smallest purchase: ₹2,500

Source: www.bobcard.co.in

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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