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Guide

Credit Card EMI & No-Cost EMI

What "no-cost" actually costs once GST and discounts are unwound.

By Nishit Kumar, Founder & Editor
Updated 17 August 2026

Your numbers

₹1,000₹60,000₹50 L
014%36
312 months36
₹0₹199₹10,000
Monthly EMI
₹5,387
  • Purchase91%
  • Cost of EMI9%
Interest
₹4,647
GST on interest (18%)
₹836
Processing fee incl. GST
₹235
Total extra cost
₹5,718
Effective annual cost
9.53%

What this means.The advertised 14% becomes 9.5% once GST and the processing fee are counted. "No-cost EMI" is the same maths with the interest folded into the price as a foregone discount — and you still pay GST on that hidden interest.

Questions

Is this credit cards information specific to India?

Yes. Everything on Credsir is written for Indian regulation, Indian tax law and Indian products — RBI rules, IRDAI norms, SEBI regulation and the current financial year’s income tax provisions.

How often is this page updated?

Rate tables are refreshed weekly, and immediately after an RBI policy change or a Budget announcement. Every figure on the page carries the date it was captured and a link to its source, so you can always see how current it is.

Does Credsir get paid to rank products here?

No. We earn from partner links and advertising, but rankings come from a published scoring formula that runs identically on every product, whether we earn from it or not. Products we make nothing from appear in these lists whenever they win on the numbers.

Are these the rates I will actually be offered?

Advertised rates are the best case, reserved for applicants with a high credit score, stable income and a favourable profile. Your offer depends on your credit score, employer, income and existing obligations. Treat published rates as the floor, not the quote.

Related reading

Worth knowing.Rates, fees and terms change frequently and vary by applicant. Everything here is general information, not personalised advice. Confirm the current terms directly with the institution before you apply. How we research and rate.