HDFC Bank EMI: what it really costs

Interest, processing fee and closing charges from HDFC Bank's own documents, checked on 26 October 2026.

EasyEMI on Credit Card

Credit card EMI at checkout

Interest: 11.56% to 21% a year
Months offered: 3, 6, 9, 12, 18, 24, 36, 48
Processing fee: ₹99 to ₹699 plus GST, depending on the product and shop
Closing early: 3% of the amount still owed, plus GST
On no-cost EMI: HDFC still charges interest. The shop gives an equal discount. The fee is not refunded.

Source: www.hdfc.bank.in, www.hdfc.bank.in

EasyEMI on Debit Card

Debit card EMI

Interest: 12% to 20% a year
Months offered: 3, 6, 9, 12, 18, 24, 36, 48
Processing fee: ₹299 plus GST
Closing early: 3% of the amount still owed, plus GST
On no-cost EMI: HDFC still charges interest. The shop gives an equal discount. The fee is not refunded.
Smallest purchase: ₹3,000

Source: www.hdfcbank.com

SmartEMI

Credit card, converted to EMI after buying

Interest: 10.08% to 24.96% a year
Months offered: 6, 12, 24, 36, 48
Processing fee: ₹999 plus GST
Closing early: 3% of the amount still owed, plus GST
Smallest purchase: ₹2,500

Source: www.hdfc.bank.in, www.hdfc.bank.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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