No Cost EMI is new term from 2016 , where some online and offline stores provide zero cost EMI or 0% interest rate. In Sept 2013 RBI (Reserve Bank of India) banned?zero percent EMI schemes In No Cost EMI scheme, some online stores like Flipkart, Amazon offer upfront discount on product ...

To understand No Cost EMI first let me explain what is EMI on credit card. If you want to buy large value item credit card company ( bank) give your credit or loan and charge some interest , and you pay that installment monthly. No Cost EMI is offered by Seller ( i.e Amazon / Flipkart ) ...