No-Cost EMI: Unveiling the Hidden Truth Behind Seemingly Free Installments

• No-Cost EMI is a popular option on online platforms for various products, appearing interest-free.
• Banks charge interest on these EMIs, but sellers or platforms adjust it as a discount, making it seem like no interest is paid.
• Hidden costs include loss of instant card discounts, and additional GST and processing fees.
• Choosing EMI increases credit exposure, potentially impacting future loan eligibility.
• Customers should compare total costs, check for lost offers, and consider credit history before opting for No-Cost EMI.

Why It Matters: No-Cost EMI often hides actual costs through lost discounts and fees, making it less 'free' than it appears.