No-Cost EMI Calculator
Analyze the true cost of a "No-Cost EMI" plan by factoring in hidden charges like processing fees and taxes on the interest component.
Currency conversion is approximate.
Your EMI will be debited on the 29th of every month.
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The "No-Cost" EMI Secret: Reverse Calculation
Here’s how it works: the bank charges interest, but the seller gives you an upfront discount equal to that interest. This is how your EMI feels like it has "no cost".
Original Product Price
₹50,000.00
Upfront Discount from Seller
₹2,251.44
Actual Loan Amount (Principal)
₹47,748.56
Actual Loan Amount (Principal)
₹47,748.56
Total Interest Charged by Bank
₹2,251.44
Total Repayment to Bank
₹50,000.00
The upfront discount from the seller (₹2,251.44) almost perfectly cancels out the interest charged by the bank (₹2,251.44), making it seem like there's no cost.
Analysis
"No-Cost" EMI
₹0.00
Average Monthly Cost (Incl. all fees and taxes)
₹0.00
Detailed Cost Analysis
(A)Product Cost
₹50,000.00
(B)Upfront Discount from Seller
-₹2,251.44
(B)Actual Loan Amount (Principal)
₹47,748.56
(C)Total *Hidden* Interest
₹0.00
(D)GST on Interest (18%)
₹0.00
(E)Processing Fee (Fixed Amount)
₹0.00
(F)GST on Processing Fee (18%)
₹0.00
Total Hidden Cost (C+D+E+F)
The total amount you pay over and above the product price.
₹0.00
Total Effective Cost (A+D+E+F)
The real cost of your purchase on a No-Cost EMI plan.
₹0.00
Summary
For a product price of ₹0.00, you will end up paying a total of ₹0.00. This means you are paying an extra ₹0.00 as hidden costs.
Your average monthly cost, including all hidden charges, comes to ₹0.00.