Frequently Asked Questions (FAQs)

Who bears the cost for the discount given in No Cost EMI?

You, as a merchant, would bear the cost of No Cost EMI. It will be given as an upfront discount on the product cost to the end consumer. The discount percentage will vary by the bank and period of EMI.

Which payment methods can be used for No Cost EMI?

No Cost EMI is available on all credit card and debit card EMI banks.

Will the customers' banks continue to charge them interest?

Yes, the customers’ banks will continue to charge them interest. However, this interest charge has been provided to the customer as an upfront discount at the time of purchase, effectively giving them the benefit of a No Cost EMI.

Can I enable No Cost EMIs at the Checkout?

Yes. Razorpay enables you to display No Cost EMIs at the Checkout. Know more about No Cost EMIs.

How can I know about the percentage discount of the No Cost EMI that I bear?

Handy TipsThe banks charge GST to end consumers on the interest paid over and above the following amount.

Calculations on the cost incurred by the merchant at all standard plan and tenures are listed below:

Amount (in INR)	Interest (in %)	Tenure (in Months)	Amount Paid by Customer	Monthly EMI	No Cost EMI Discount	Discount	Pricing	Total Cost (in %)
10000	11%	3	9,819.43	3333.33	180.57	1.81%	3%	4.81%
10000	12%	3	9,803.28	3333.33	196.72	1.97%	3%	4.97%
10000	13%	3	9,787.18	3333.33	212.82	2.13%	3%	5.13%
10000	14%	3	9,771.13	3333.33	228.87	2.29%	3%	5.29%
10000	15%	3	9,755.11	3333.33	244.89	2.45%	3%	5.45%
10000	11%	6	9686.85	1666.67	313.15	3.13%	3%	6.13%
10000	12%	6	9659.13	1666.67	340.87	3.41%	3%	6.41%
10000	13%	6	9631.53	1666.67	368.47	3.68%	3%	6.68%
10000	14%	6	9604.04	1666.67	395.96	3.96%	3%	6.96%
10000	15%	6	9576.68	1666.67	423.32	4.23%	3%	7.23%
10000	11%	9	9556.66	1111.11	443.34	4.43%	3%	7.43%
10000	12%	9	9517.80	1111.11	482.20	4.82%	3%	7.82%
10000	13%	9	9479.17	1111.11	520.83	5.21%	3%	8.21%
10000	14%	9	9440.77	1111.11	559.23	5.59%	3%	8.59%
10000	15%	9	9402.61	1111.11	597.39	5.97%	3%	8.97%
10000	11%	12	9428.80	833.33	571.20	5.71%	3%	8.71%
10000	12%	12	9379.23	833.33	620.77	6.21%	3%	9.21%
10000	13%	12	9330.04	833.33	669.96	6.70%	3%	9.70%
10000	14%	12	9281.21	833.33	718.79	7.19%	3%	10.19%
10000	15%	12	9232.76	833.33	767.24	7.67%	3%	10.67%
10000	11%	18	9179.92	555.56	820.08	8.20%	3%	11.20%
10000	12%	18	9110.15	555.56	889.85	8.90%	3%	11.90%
10000	13%	18	9041.13	555.56	958.87	9.59%	3%	12.59%
10000	14%	18	8972.85	555.56	1027.15	10.27%	3%	13.27%
10000	15%	18	8905.30	555.56	1094.70	10.95%	3%	13.95%
10000	11%	24	8939.84	416.67	1060.16	10.60%	3%	13.60%
10000	12%	24	8851.41	416.67	1148.59	11.49%	3%	14.49%
10000	13%	24	8764.21	416.67	1235.79	12.36%	3%	15.36%
10000	14%	24	8678.23	416.67	1321.77	13.22%	3%	16.22%
10000	15%	24	8593.43	416.67	1406.57	14.07%	3%	17.07%

How does the No Cost EMI settlement work?

The order amount minus the entire interest subvented by you as a discount is settled in your bank account as per your settlement cycle.

Watch Out!However, Razorpay pricing is not included in this settlement, it will be applied in addition to the above amount.

Can I create No Cost EMI offers on Cardless EMI?

No, we do not support No Cost EMI offers on Cardless EMI.