Product Financing Calculator

Phone shops in Hyderabad and appliance stores in Lucknow sell “12 EMIs” as if they were free. This page finances (price − down payment) at a monthly reducing rate. A ₹60,000 laptop, ₹10,000 down, 12% a year, 12 months, is about ₹4,442 EMI and about ₹63,309 total with the down payment. Compare that with paying ₹60,000 cash.

The price tag, not a checkout

No-cost EMI in India often hides interest in a discounted MRP or a card-fee. IndiaKit shows a classical reducing-balance EMI so you can see the rupee cost when the interest is not “no-cost.” GST on processing fees is extra.

Discount and unit maths

Principal = price − down. Monthly rate = annual/1200. EMI uses the same formula as the home-loan tool. Defaults: ₹60,000, ₹10,000 down, 12%, 12 months → EMI ≈ ₹4,442, financed ₹50,000, total payable ≈ ₹63,309.

If the store’s no-cost EMI is truly 0% on a lower eligible price, type rate 0 and compare. If rate 0, EMI is principal / months.

Card subventions are a contract with the issuer. This site never asks for a card number.

₹60,000 laptop on 12-month EMI in Hyderabad

Sneha in Hyderabad puts ₹10,000 down on a ₹60,000 laptop at 12% for 12 months. IndiaKit shows about ₹4,442 a month and about ₹63,309 all-in. She compares that with a 2% card cashback on a ₹60,000 swipe and picks the cheaper honest total.

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Reducing-balance EMI only. No processing fee, no GST on fees, no foreclosure slab. Not a lender offer.

Common questions

Why is total more than ₹60,000 if I already paid ₹10,000?

Because the remaining ₹50,000 carries 12% interest. The ₹10,000 is added back in the “total payable” so you see cash out of pocket overall.

Is no-cost EMI actually 0% here?

Only if you type 0 in the rate. Many “no-cost” deals pre-discount the MRP. Ask the shop for the cash price versus the EMI price.

Can I use this for a car?

You can, but the car-loan tool includes on-road price and a year-based tenure more typical of hypothecation loans.