A Complete
No-Cost EMI Guide to
Help You Get Started

What is no-cost EMI?

A no-cost EMI is an offer where you can pay for a product or service in affordable monthly instalments with zero interest. This means that you are only paying for the total price of the product, with no extra charges. 

For example, if you buy a product worth Rs 15000 at 3-month no-cost EMI, you will have to pay Rs. 5000 each month for 3 months to your EMI provider (such as ZestMoney), which will be a total of Rs.15000 at the end of 3 months with zero interest cost.

Where can you use a no-cost EMI?

Have you ever found yourself eyeing the latest range of smartphones and wishing you could replace your old, outdated mobile with a trendier one? We’ve all been there – scrolling for hours, looking at the new features and watching unboxing videos, only to realize the price is too high for you to pay. And it’s not just phones – it’s the same with a variety of products and services. From laptops and cameras, to international trips, furniture, and even clothes, we yearn to afford things that seem so unaffordable. We have good news: now they can be within your reach!

Many brands these days have added a variety of payment options for your convenience. Of these, Equated Monthly Instalment (EMI) plans have taken India’s e-commerce economy by storm, with a lot more people availing the payment plan being offered.

Statistics show that almost one out of every two Indians is open to taking a loan to improve their lifestyle.

Apart from regular EMI plans, a new version has emerged that makes life more affordable than ever before: no-cost EMI. A wide range of no-cost EMI products has been made available by retailer platforms which include consumer durables and expensive items like mobile phones, laptops, cars, TVs and more.

This in-depth guide to no-cost EMI will help you understand the what, where and how of availing this payment plan.

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Online educational courses

There are also a lot of things people don’t know they can buy on EMI with ease, like holidays on EMI and flight tickets on EMI.

If you are planning on using a no-cost EMI plan to fund your next purchase, here are just a few of the many benefits you can expect.

1. All your needs become affordable

Birthdays, festivals and special occasions like anniversaries are definitely cause for celebration, but they can also be expensive affairs. You might want to purchase a new phone for your father’s birthday as a token of your appreciation for him, but you might not have the savings to do so. With no-cost EMI, all these expenses are within your reach! Since you don’t require a credit score or a credit card to get started, you can complete your purchase easily. So whether you are planning on upgrading your phone, booking a holiday or enrolling in a certification course to upskill your career, you can fund it through no-cost EMI.

2. Zero Interest cost

Unlike traditional EMI plans, a no-cost EMI plan has zero interest cost. This makes your purchase even more affordable!

3. You can avail it on multiple platforms

You can avail EMI on a host of online and offline merchants. Have a look at some popular online retailers that have no-cost EMI offers on their products.

4. Easily available online

Traditionally no-cost EMIs have been offered by banks to customers who have a credit or debit card after doing some paperwork. However, the new-age fintech platform ZestMoney is breaking ground by providing no-cost EMI offers to everyone who has stable financials. 

Since the process is completely online, you can avail no-cost EMI offers from ZestMoney even if you don’t have a credit card, debit card or credit score. Simply enter your details for the KYC process and avail no-cost EMI on your Aadhaar card. Additionally, ZestMoney EMI has zero pre-closure fees. 

This way, if you get a bonus or save up enough, you can make a bulk payment and clear your monthly payments well in advance.

So whether you are looking to purchase a new laptop or book a vacation, be it offline or online, now you can afford it without paying extra charges on EMI payments.

Buy a phone without saving up for it

Where can you buy a mobile on EMI?

The most popular online platforms to avail EMI on mobile phones in India are Amazon and Flipkart. No-cost EMI on Flipkart and no-cost EMI on Amazon are available options in addition to the discounts that run throughout the year.

In case you don’t have a credit card or even a debit card, you can still buy a mobile on EMI by availing mobile EMI on Aadhaar card details using ZestMoney.

No-cost EMI on phones ensures that you won’t have to pay any interest throughout the payment tenure.

Here are a few of ZestMoney’s partnerships with which you can buy a mobile on EMI:

There are plenty of Amazon EMI options for those looking to buy a phone on EMI. Whether it’s an Amazon refurbished phone or a branded EMI smartphone, like an iPhone on EMI or the option of a plan for the Redmi Note 7 Pro EMI, ZestMoney’s partnership with Amazon has you covered.

Flipkart no-cost EMI also allows you to avail EMI on refurbished smartphones and unboxed mobiles, and of course, brand new phones. Simply choose ZestMoney among the Flipkart EMI options when you check out.

A Mi phone on EMI is easily available on the company’s own website. While you cannot buy refurbished smartphones on their platform the way you can on Amazon or Flipkart, you can buy a phone on EMI like the Mi Note 7 Pro, with a guaranteed warranty and other similar benefits.

Sangeetha sells EMI mobile phones across its chain of stores in the country, as well as on its online stores. With huge sales and discounts throughout the year, Sangeetha is a leading seller of brands of all sorts. Be it an iPhone X on EMI, iPhone 7 plus refurbished, or slightly budget-friendly options like the OnePlus 6T EMI or even the Redmi Note 7 Pro refurbished.

Croma’s EMI smartphone availability has helped many people realize their dream of purchasing better electronic gadgets without hurting their wallets too bad. They provide zero down payment mobile phones from a plethora of brands, and to top it off, these no-cost EMI phones can be purchased with a guaranteed warranty and return policies from across their stores, both online and offline.

A lot of research goes into buying a laptop since there are so many brands to look out for, each offering a plethora of specs with the latest technology. Since a laptop can be a very expensive device and lasts you for a few years, you will need to choose a laptop with great care. The no-cost EMI option on laptops has made purchasing one very affordable, regardless of which model you are choosing.

How to buy a laptop on EMI?

Many choose to buy laptops online instead of offline because retailers online tend to provide better payment options and warranty policies. Online E-commerce brands are also known to offer better discounts than their in-store counterparts.

EMI on laptops has become a very popular payment method, with almost every online retailer offering no-cost EMI on laptops even without a credit card. This is especially helpful for students who do not meet the credit card eligibility criteria to procure a loan.

Where to purchase a laptop on EMI

Some of ZestMoney’s partner stores have the option to buy laptops on EMI with hassle-free EMI plans. Stores like Croma offer MacBook Pro EMI and MacBook Air EMI, along with other laptops on EMI online.

Other partner stores like Amazon and Flipkart also offer no-cost EMI on laptops even without credit cards while offering warranty periods for the same. These platforms offer products from a wide range of brands. For instance, you could get the latest Dell laptops on EMI, Lenovo laptops on EMI and even certain HP products by paying in instalments.

Many people are familiar with the concept of EMI on electronics and furniture, but not many are aware that you can purchase clothes on EMI as well! Fashion is a means of expression, and shouldn’t be restricted by your savings and your budget. Have you ever wanted to buy the latest lehenga choli for a festive season or the best wedding sherwani for a cousin’s marriage, but you weren’t able to because of the price tag attached to these clothes? With no-cost EMI, you can gear up to be the most fashionable person in every room you walk into!

Where can you avail no-cost EMI on clothes?

Since financial restrictions can limit spending, brands have taken to offering a range of EMI plans to help customers make purchases. Here are some of the best places you can shop from using no-cost EMI.

Myntra EMI is by far the most popular, especially because EMI on Myntra allows shoppers to choose from over 500 international and domestic brands. So if you have products just sitting in your wishlist but haven’t purchased them yet, Myntra EMI can help fund your payment!

Flyrobe offers a new approach altogether to shopping. Flyrobe allows people to rent clothes out for events, from anywhere between 2 days to 4 months. They offer a line of bespoke ethnic and western clothes. Since buying these garments is usually a high price to pay, especially for weddings, no-cost EMI on Flyrobe is an ideal solution that helps you save a lot of money.

Looking for the perfect leather wallet to complete your look? Brands that sell accessories like bags, clutches, purses, shoes, etc., such as Hidesign, Neeman’s and Flatheads have partnered with ZestMoney to make no-cost EMI on accessories accessible to everyone!

The right furniture can be the difference between a house and a home. A comfortable couch to snuggle up in after a long day, a sturdy dining table to have family meals at and a large bed to relax in are some of the most important elements in any home.

However, furniture is also one of the most expensive purchases for your home that you can make. Simply buying modern dressing table furniture online can sometimes also be more than your monthly income. Because of this, no-cost EMI on furniture can be a huge boon if you are looking to set up your house or simply give your home a makeover.

Home Centre is one of the leading home retailers in the country. It is one of the most preferred home shopping destinations with over 100 stores worldwide. They offer many different kinds of premium home furnishings, at a range of affordable prices.

Some no-cost EMI products that they offer include dining tables, dressers, tables, chairs, shelves, wardrobes, and bar furniture. Their most popular products include sofa sets on EMI and beds on EMI.

GrabOnRent is a rental platform that allows customers to rent furniture for a duration of their choice. This brand has taken off for how smooth sailing the process handling is, as well as their doorstep delivery service. 

You can choose products from their listings online, or request a certain product from their vendors. Be it sofa sets on EMI, beds on EMI or procuring any other furniture, you can have it all, when you pay with ZestMoney.

A new solution for mattress buying, Sleepy Cat is an innovative brand that offers mattresses on EMI. Their mattresses are offered in 4 different styles with different materials, and in different sizes as well. Each mattress is made of a premium gel memory foam to ensure uninterrupted sleep. They also sell pillows, mattresses on EMI for babies, and a ‘smart base’, which is an affordable bed frame that fits their mattresses best.

With their 0% no-cost EMI on furniture enabled through ZestMoney, Sleepy Cat is one affordable and premium brand that guarantees undisturbed sleep.

Another new brand that sells mattresses on EMI, Flo offers two variants of mattresses, each designed with comfort in mind, as well as quality sleep. They offer a 10-year warranty, hassle-free doorstep delivery, and even a 100-night trial period. Their beds on EMI start as low as around INR 500 a month and is an affordable sleep solution, available exclusively online through ZestMoney.

How to book affordable vacations on EMI

Online platforms like MakeMyTrip and Yatra are some of the most popular online travel companies that allow customers to manage their holidays in one place. You can pay for holiday packages and flights on these platforms using ZestMoney to avail the no-cost EMI option. Through this, you can book EMI tour packages and start planning your next big vacation without worrying about the cost! These platforms often have discounts on package deals and offer flights on EMI as well as holiday packages on EMI.

Companies like Pickyourtrail offer customizable holiday packages with EMI options that turn budget international trips into a reality for many. Whether you’re looking for an adventure holiday, a beach vacation, a family getaway, a solo trip for women, or a honeymoon package on EMI, Pickyourtrail offers every kind of holiday on EMI.

For cheap air flight tickets, Happy Easy Go offers several affordable options. You can save even more money by booking flights on EMI through ZestMoney.

With ZestMoney EMI, you’ll have access to some of India’s leading travel agencies and their no cost air tickets on EMI and holiday packages on EMI.

One of the leading names in the industry of online courses for professionals, UpGrad offers programs in the fields of data science, technology, and management. With academic partnerships from across the globe, UpGrad courses can be availed with a student loan online, allowing you to build your skill set with dedicated mentorship, expert career guidance, and courses built with the top universities and industries.

With esteemed faculty that have exercised their knowledge in the real world, Udacity provides its students with Fortune 500 and Global 2000 employees as their guidance faculty. 

They have a network of 1400+ faculty members who provide support round the clock. The most unique aspect of this institute is that it prepares its students for real life challenges and ongoing problems to perform better and apply what they have learned for the greater good.

The best part, students who are not financially stable can also procure Udacity’s tutelage thanks to their EMI packages and online education loan schemes. 

With faculty and certifications from reputed universities, Greatlearning’s programs are some of the best in the business. They offer a range of courses in different learning domains, and their programs are designed to equip students with skills that the leading global companies are on the lookout for. Greatlearning has the highest alumni success rates in the industry, and offers an online education loan with their EMI packages to make learning accessible to all.

So now that you know all there is to know about no-cost EMI in India, as well as the large number of brands that offer this payment option, you can be smarter about your future purchases. 

Even if you don’t have a credit card, you can procure cardless EMI and be rest assured that your budget will remain intact and that you never have to click “add to wishlist” again!

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