Credit Card / No-Cost EMI Calculator
'No-cost EMI' rarely means zero cost — banks still charge interest and 18% GST on that interest, while the merchant may offer an equivalent discount. This calculator shows your EMI, the interest, the GST you can't avoid and whether the offer is genuinely worth it.
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Formula
EMI uses the standard reducing-balance formula. Total interest = EMI × months − principal. GST = 18% × interest. Net extra cost = interest + GST − merchant discount.
Example
₹60,000 at 15% over 12 months has interest of roughly ₹5,000 and GST of ~₹900 — even a 'no-cost' offer leaves you paying the GST.
Frequently Asked Questions
Is no-cost EMI really free?
No. Even when the merchant discount equals the interest, you still pay 18% GST on that interest amount.
Does no-cost EMI affect my credit limit?
Yes — the full purchase amount is blocked against your credit limit until the EMIs are paid off.
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