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

What is a no-cost EMI?

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

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Have you ever found yourself eyeing the latest range of smartphones and wishing you could replace your old, outdated mobile with a trendier one?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. No-cost EMI is now available on a range of products including 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.

Chapter 1:
What is no-cost EMI?

Chapter 2:
Advantages of no-cost EMI

Chapter 3:
How to avail no-cost EMI?

Chapter 4:
No-cost EMI on phones

Chapter 5:
No-cost EMI on laptops

Chapter 6:
No-cost EMI on clothes

Chapter 7:
No-cost EMI on furniture

Chapter 8:
No-cost EMI on holidays

Chapter 9:
No-cost EMI on online courses

Chapter 1:

What is no-cost EMI?

When you avail a regular EMI plan, you sign up to pay the price of a product over a period of a fixed few months in equal installments. Most EMI options require you to pay an extra application/processing fee and charge a high interest-rate. Because of this, you actually have to pay more for a certain product in the long-run.

A no-cost EMI, on the other hand, has no hidden charges. There is no interest rate, application fee or processing fee involved when you choose these plans.

Purchases of expensive goods and services over a no-cost EMI plan are convenient because, with the high prices of many of these products, not everyone can afford to pay out of pocket at one go.

Pro-Tip: A lot of lenders offer 0% interest EMIs, so be sure to ask about the application fee or processing fee as these two components add to your cost. ZestMoney offers truly no-cost EMI on 3-month tenure plans.

Where can I avail no-cost EMI offer?

No-cost EMI is available on ZestMoney EMI for hundreds of popular online and offline merchant partners. You can use ZestMoney EMI when you are purchasing:

Mobile Phones

Apparel

Furniture

Laptops

Fridge

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.

Enjoy the convenience of no-cost EMI without a credit card

Chapter 2:

Advantages of no-cost 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 additional cost

True to its name, no-cost EMI comes with no additional cost. Unlike traditional EMI plans, a no-cost EMI plan has zero down payment, zero interest, zero application fee and zero processing fees. This makes your purchase even more affordable!

3. You can avail it on multiple platforms

You can avail no-cost EMI on a host of online and offline merchants.

Online Merchants that offer no-cost EMI

• Online retailers:

• Travel merchants:

• Fashion:

• Furniture:

• Educational websites:

• Health:

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, new age fintech platform ZestMoney is breaking grounds by offering no-cost EMI to everyone who has stable financials. The process is completely online. So even if you have no credit card, debit card or credit score, you can avail no-cost emi offer from ZestMoney. 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.

Get access to no-cost EMI on 3000+ brands

Chapter 3 :

How to avail no-cost EMI?

Purchasing a product on no-cost EMI is simpler than you might think. However, for first-time users, availing this payment plan can be a little intimidating. To make this process simpler for you to understand, we have laid out a step-by-step guide. This will help you know what to expect and what documents you will require in order to apply for a no-cost EMI.

Sign up with ZestMoney using your mobile number, complete your profile and you will get to know your credit limit. Your credit limit is the total amount of money you can pay using ZestMoney EMI.

Submit your KYC documents and activate your credit limit.

Once your credit limit is active, visit any of the 3000+ online or offline merchant partners and choose the product or service that you want to buy.

If you are visiting an online partner store (Amazon, Flipkart, Makemytrip, Yatra etc), choose your product on the partner site and go to checkout. Under EMI options, select ZestMoney EMI as your payment method. Choose your EMI plan (tenure) and pay. And it’s as simple as that! Your product will ship to you, and payments will be deducted from your account according to the tenure you have selected.

If you are visiting an offline store (Croma, LifeStyle, Mi Home, etc.), ask the cashier to process your purchase using ZestMoney. The cashier may process the payment using OTP approval or you might need to give him a gift voucher code. Open the ZestMoney app/website, choose the merchant, enter the amount that you want to pay by EMI and purchase your gift voucher online. Give this gift voucher code to the cashier and you are done!

Take the first step to interest-free EMI and start shopping

Chapter 4 :

No-cost EMI on phones

Almost every month, a new smartphone is introduced, with all new-features and sleek looks. And with new phones entering the market so often, technophiles are always on the lookout for the latest gizmos. The only challenge to getting your hands on the best phone in the market is, of course, the cost. With no-cost EMI, however, owning the latest smartphone model is no longer unaffordable. Here’s how and where you can avail no-cost EMI options on your next smartphone purchase.

Buy a phone without saving up for it

The option of zero down payment mobile phones means that you don’t have to have ready savings in your bank account if you want to buy a phone. With the choice to buy a phone on EMI, you can even purchase the latest Vivo or Mi phone without having to pay the full price immediately.

Flexible repayment periods

Many online shoppers buy mobiles on EMI since breaking down the payment on a 6-month basis is lighter on the pocket, whereas paying full price is likely to burn a hole in your wallet. It also helps that most retailers, both online and offline, sell no-cost EMI phones on their websites and in their offline stores. Several retailers offer convenient tenures that range anywhere between 3-month instalments and 36-month instalments, giving you all the more flexibility.

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 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 additional fees throughout the payment tenure. When you use ZestMoney EMI, you can be assured that you won’t have to pay any down payments, processing fees, or pre-closure charges.

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

1. Amazon 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 a Redmi Note 7 Pro EMI, Amazon EMI pay will have you covered.

2. Flipkart EMI

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.

3. Xiaomi EMI

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 a Mi Note 7 Pro, with guaranteed warranty and other such benefits.

4. Sangeetha EMI

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, with everything from an iPhone X on EMI and iPhone 7 plus refurbished, to more affordable options like the OnePlus 6T EMI and even Redmi Note 7 Pro refurbished.

5. Croma EMI

With the latest in electronics, Croma’s EMI smartphone availability, zero down payment mobile phones and no-cost EMI phones can be purchased with guaranteed warranty and return policies from across their stores, both online and offline.

Get your credit limit and buy your next smartphone on EMI

Chapter 5 :

No-cost EMI on laptops

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. E-commerce brands online also offer some of the best value for money laptops with 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 laptops and laptops on EMI without credit card. This is especially helpful for students who do not meet the credit card eligibility criteria to avail 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 offer laptops on EMI without credit card. On these platforms, you can purchase Dell laptop on EMI, Lenovo laptop on EMI and many more brands.

Buy the latest laptops on EMI with your ZestMoney credit

Chapter 6 :

No-cost EMI on clothes

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 felt like you weren’t able to shop from the latest fashion trends and wardrobe essentials 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.

1. Myntra

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!

2. Flyrobe

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.

3. Large multi-brand outlets

Large scale outlets across India like Lifestyle, Planet Fashion, Big Bazaar, FBB and Pantaloons offer no-cost EMI when you pay with ZestMoney. Since these stores have a wide range of products, including clothes, accessories, shoes and more, there’s no limit to what you can purchase on EMI from them.

4. Luxury wristwatch brands

An elegant watch is one of the most understated, yet powerful, style statements you can make. However, classic watch brands tend to be very expensive, making them unaffordable for many. These days, brands like Titan, Ethos, and Helios offer no-cost EMI on watches through ZestMoney. Using this option, you can purchase your dream watch without breaking the bank!

5. Premium apparel brands

Formal wear and handmade ethnic wear tend to be more expensive because of the level of work and detail that go into them. ZestMoney has partnered with premium apparel retailers like Turms, Ogaan, Van Heusen, Allen Solly, and Fab India to give you the option of no-cost EMI when you shop from these brands.

6. Stylish accessories brands

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!

Shop from the biggest fashion brands with ZestMoney credit

Chapter 7 :

No-cost EMI on furniture

A high percentage of Indians – almost 60% of Indian workers – move from one job to another within the first few years of their employment.

This has resulted in many Indians moving from city to city for jobs and renting new homes more frequently. The renting of homes and the purchase of furniture have both seen growth as a direct result of this.

Advantages of no-cost EMI on furniture

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 one of the most expensive purchases for your home that you can make. A single sofa set can often 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.

The advent of furniture rentals

Renting furniture is also a new trend, and more working professionals avail this option since it allows them to own furniture without commitments. People can own furniture for the duration they require it, and when or if they decide to move, they need not deal with the hassle of moving it with them or selling it. They can simply send it back to the retailer! Some even opt to rent furniture as it allows them to keep up with design trends and re-do their home decor to keep their interiors in vogue.

Where can you find furniture on EMI?

Online platforms have made it easier to browse wider collections of furniture, and most offer EMI options. ZestMoney has partnered with several brands, both online and offline, that offer furniture on EMI without credit card.

Here is a list of brands that offer furniture on EMI:

1. Home Centre

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, in a range of affordable prices.
Some products include dining tables, dressers, tables, chairs, shelves, wardrobes, and bar furniture. Their most popular products include sofa sets on EMI and beds on EMI.

2. GrabOnRent

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. With sofa sets on EMI, beds on EMI without credit card, and other deals for no-cost EMI on furniture of all sorts, when you pay with ZestMoney EMI on GrabOnRent, furniture shopping becomes cheaper and hassle-free.

3. Sleepy Cat

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 an affordable and premium brand that guarantees undisturbed sleep.

4. Flo

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.

Give your home a makeover with ZestMoney no-cost EMI

Chapter 8 :

No-cost EMI holidays

Everyone dreams of jetting off to their dream destination for the perfect holiday. But travel packages can be quite expensive, with the costs of travel, accommodation and food usually being very high. Not to mention the fact that searching for hotel bookings on one site and making flight bookings on another can leave you flustered.

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.

Pay for your next holiday with ZestMoney no-cost EMI

Chapter 9 :

No-cost EMI on online courses

With over 5 million students taking online courses every year, online learning has become a popular and effective option for students and working professionals. Not only do they allow you to learn at your own pace and in your own time, but the most reputed platforms offer courses taught by professionals in their field. Course packages also include the costs of any online reference material, ensuring you don’t have to pay extra for textbooks.

You can now save more by availing an instant student loan online through no-cost EMI on online courses with ZestMoney’s education partnerships! From online tuition classes with CueMath, coding courses with Coding Ninjas, and UpGrad machine learning courses, to learning programs with BITS Pilani, SimpliLearn, IntelliPaat, and more, get instant loans for students to achieve your dreams.

You can get online loans for students through no-cost EMI with the following leading websites for professional courses:

1. UpGrad

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.

2. Udacity

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.

3. Greatlearning

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 avail cardless EMI and be rest assured that your budget will remain intact and that you never have to click “add to wishlist” again!

FAQ

What is a no-cost EMI?

No Cost EMI is an offer by which you pay your EMI provider only the price of the product, equally divided over your repayment period without any additional interest. Choosing the no-cost EMI option is the most affordable because you won’t have to pay anything extra.
Can I use no-cost EMI without a credit card?

ZestMoney allows you to make purchases across partner websites without a credit card. You just need a credit limit, which ZestMoney will assign to you once you complete your KYC and upload all necessary documents. Using that credit, you can purchase anything you want on EMI
Can I get a no-cost EMI without a debit card?

Of course! ZestMoney aims to provide credit/debit card free credit to millions of Indians. You just need to be 18+, an Indian citizen, and upload KYC and bank details. Once you are assigned a credit limit, you can pay for the product using Zest credit.
Do I require an Aadhaar card to avail no-cost EMI?

When you create an account on ZestMoney, you will be asked to upload your KYC documents which also contains your Aadhaar details. Post that, Zest will issue a credit limit to you. Then, you can use ZestMoney to make various purchases on any of our partner merchant websites and stores.
How can I buy products on EMI on Amazon?

When you choose your payment option on Amazon while checking out, simply choose the bright green ZestMoney logo. Then, you will be able to use your ZestMoney credit to pay for whatever you want
What are the advantages of using ZestMoney?

ZestMoney allows you to buy a wide range of products even if you don’t have a credit card. Once you get the credit limit from Zest, you can immediately start shopping for your favourite things across our partner websites. You can upgrade your life quickly by investing in all the things you love using ZestMoney. Flexible, no-cost EMI plans offered by Zest makes it the best payment option available!
Can I use no-cost EMI in an offline store?

You can, with ZestMoney. All you need to do is look for the bright green Zest logo when you’re paying. At the check-out counter, avail your Zest credit to pay for your desired product.
Can I purchase products online with zero downpayment?

ZestMoney allows you to buy all that you need without any initial down payment. You have the luxury to pay back at your own pace with Zest Money’s no-cost EMI options. EMI repayment periods range from 3 to 12 months.

Enroll yourself in online courses from top partners with ZestMoney EMI

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