Is No-Cost EMI Really No-Cost?

With the onset of the festive season, retailers, both online and offline, offer various products like mobile phones, refrigerators, etc. on no-cost EMI or zero-cost EMI. While purchasing expensive products on no-cost equated monthly instalments (EMI) without any interest may sound attractive as it removes the burden of paying the entire amount upfront, you must note that in reality, there is always a cost that you will have to bear o…