RBL Bank EMI: what it really costs

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

Merchant EMI

Credit card EMI at checkout

Interest: Not stated by the bank
Processing fee: 1.5% of the amount, at least ₹150, plus GST
Closing early: 3% of the amount still owed, plus GST

Source: webassets.rbl.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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