No-Cost EMI What is No-Cost EMI? No-Cost EMI is a financing scheme offereed by Merchants for Retailers by which you pay the price of the product in equated monthly installments. How does it work? Generally, there are 3 parties involved in the transaction, the Manufacturer / Retailer, Bank and the Consumer / Customer. "One thing we need to understand that neither Manufacturer nor bank, are charitable organisations. They are in the business to make profits." In the case of No-Cost EMI, the Manufacturer offers a discount that is equivalent  to the interest cost (but not to the Consumer / Customer). Example:                                   Particulars                      ...