Credit card & no-cost EMI calculator
See what a card EMI — even a “no-cost” one — really costs after GST and fees.
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- Formulas published
Extra you pay vs paying upfront
₹692
"No-cost" still costs ₹692 here — GST on the interest plus the processing fee.
- Monthly EMI
- ₹10,000
- + GST on interest (month 1)
- ₹129
- Upfront discount (covers interest)
- ₹2,540
- GST on interest
- ₹457
- Processing fee + GST
- ₹235
- Effective APR
- 3.97%
Assumptions behind this estimate
- No-cost EMI: the merchant gives an upfront discount equal to the interest, so your EMIs add up to the purchase price. GST on that interest is still charged to you.
- GST is charged monthly on the interest portion of each EMI, and once on the processing fee.
- Processing fee is charged once, at conversion. Some banks charge it in the first statement.
- Effective APR treats the purchase amount as the benefit received today and the processing fee, EMIs and GST as payments.
- Excludes late fees, foreclosure charges and any change to your card's reward points.
Extra you pay vs paying upfront
₹692
How this works
How we calculate the true extra cost of standard and no-cost credit card EMIs, including GST on interest and processing fees, and an effective APR. Read the full methodology, formulas and sources.
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Frequently asked questions
Is no-cost EMI really free?
Usually the interest is offset by an upfront discount, so your EMIs add up to the purchase price. But GST is charged on the interest component, and there is often a processing fee plus GST. Those are the extra costs this calculator shows.
Why is GST charged on no-cost EMI?
The bank still charges interest on the EMI loan; the merchant or brand covers it through a discount. GST applies to that interest and to the processing fee, and is billed to you.
Related
- Loan True Cost & APR CheckerSee what your loan offer really costs once fees, GST and other charges are included.
- EMI CalculatorWork out your monthly EMI, total interest and full repayment schedule.
- Loan Affordability CalculatorEstimate a safe EMI from your take-home pay and expenses, and the loan it supports.
Last reviewed · Reviewed by ClearRupee Editorial Team