https://www.desidime.com/discussions/what-is-the-deal-with-no-cost-emi-on-hdfc-debit-cards?page=1#post_9566535
Please do not take this personally but if you cannot afford to buy a phone by paying the full cost upfront, it is best you avoid it. The day when you can do that, go ahead and buy the most expensive phone on the planet.
That said, I have availed these no-cost EMIs on HDFC credit card before and there are definitely hidden charges. The instant discount that you get is actually paid back as interest every month. While that would be OK in itself, there is GST on the interest which is never factored/specified by these websites.
So, in short, going for this no-cost EMI option will always be more expensive than paying full upfront unless you manage to invest the money over the EMI period and earn better returns.
Please do not take this personally but if you cannot afford to buy a phone by paying the full cost upfront, it is best you avoid it. The day when you can do that, go ahead and buy the most expensive phone on the planet.
That said, I have availed these no-cost EMIs on HDFC credit card before and there are definitely hidden charges. The instant discount that you get is actually paid back as interest every month. While that would be OK in itself, there is GST on the interest which is never factored/specified by these websites.
So, in short, going for this no-cost EMI option will always be more expensive than paying full upfront unless you manage to invest the money over the EMI period and earn better returns.