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Is Your 'No Cost' EMI Really Free? A Guide to GST Rates and Credit Card FeesCredit Cards
2 Oct 2026

Is Your 'No Cost' EMI Really Free? A Guide to GST Rates and Credit Card Fees

If you have ever shopped online, you may have surely come across the ‘no cost EMI’ payment option at the checkout. It may sound like the best payment option as it allows you to break the payment into smaller instalments and pay the amount over a period, instead of paying the full amount at once. But, as a smart and savvy online buyer, you need to ask is the ‘no cost EMI’ really free or does it have any hidden charges? Well, in most cases, the answer is there are certain charges that are applicable on the no cost EMI that you may not be aware of, like the GST (Goods and Service Tax) charges. So, in this blog, we break down how the GST works on ‘No Cost EMI’ and how much you really pay. Understanding What is No Cost EMI and Its Working? Before we delve into the finer details of the costs associated with ‘No Cost EMI,’ let us understand what exactly the term means. In simple words, ‘No Cost EMI’ means you can buy something today, and pay the amount in small parts over a period, without paying anything extra. The price of the product remains the same and there is no added interest cost like in regular EMIs. Let us understand its working with an example. Mr. Arjun Mehra purchases a new smartphone at Rs. 24,000 from an e-commerce platform. Now, he does not have the full amount to pay at once. So, he chooses the EMI option of six months at the payout. He now has to pay only Rs. 4,000 every month. Mr. Mehra does not have to pay any additional money; the price of the phone remains the same. Usually, in a regular EMI, you would have to pay an interest. So, the total cost becomes more than the actual product price. Whereas, in No Cost EMI, the interest is not charged from you directly, however, the seller adjusts it in the backend. Here how they do it: · The seller typically offers a discount equal to the interest that would have been charged. · The discount is used to cover the interest cost paid to the financial institution. · So, you pay for the product in parts, and it looks like you are paying no interest. Since you are paying the amount in smaller instalments, it feels like a convenient option. But the reality is the No Cost EMI is not always truly free. Charges like GST are still applied. Is GST levied on No Cost EMI? Yes. GST is applied on all No Cost EMIs, but not in the way you may think. While the name No Cost EMI suggests that there is no additional cost involved, if you take a closer look at the payment structure, you will understand the actual reality. In a no cost EMI payment scheme, the financial institution still charges interest on the transaction. However, the seller gives you a discount that covers this interest. So, the total amount may seem like the actual product price. But here is the key difference. Even though the seller absorbs the interest, the amount is not exempt from GST. And according to the current GST rules, an 18% tax is applied on the interest component of the EMI. This means the financial institution charges GST on the interest, and this cost is ultimately borne by the customer. This is why you may often see a small additional amount in your credit bill despite opting for a ‘No Cost EMI’ plan. Breakdown of GST Charges on No Cost EMI Plans Let us assume that you purchase a smartphone worth Rs. 30,000 and you choose a 3-month No Cost EMI payment option. This means you would have to pay Rs. 10,000/month with no additional cost. But if you look at your credit card bill closely, here is what happens behind the scenes: The financial institution charges an interest of Rs. 734.66 over three months The seller gives you discount equal to the interest amount But GST is charged at 18%, i.e., Rs. 132.24 is applied to the bill and it is not waived off You pay this GST, and not the seller In a nutshell, the No Cost EMI is not fully free, it involves GST charges and you have to pay it.

GK
Girish Kannan
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Amazon Great Indian Festival 2026 Deals and Shopping GuidePersonal Finance
5 Oct 2001

Amazon Great Indian Festival 2026 Deals and Shopping Guide

Planning a festive purchase? Amazon’s Great Indian Festival 2026 announcement covers several shopping categories. This guide highlights selected offers reported by Amazon and explains what to check before placing an order. Festival offer highlights According to About Amazon India, the sale opened to all customers on October 8. Amazon announced discounts of up to 80% across electronics and fashion and beauty, and up to 75% on home and furniture. These are maximum advertised discounts, rather than savings available on every product. Selected prices in the announcement include the Samsung Galaxy S25 Ultra at ₹84,999, JBL Vibe Beam 2 earbuds at ₹2,799 and Fire TV Stick HD at ₹2,999. These are source-listed prices, not independently verified checkout prices. Amazon also announced a 10% instant discount on eligible SBI card transactions and credit card EMI, alongside selected Prime benefits and exchange offers. Check the applicable terms before relying on any saving. Compare the exact product before buying Start with the model number. A phone with more storage, a television with a different panel or an older pair of earbuds may look similar in a sale listing. Compare the same variant across sellers and check the warranty details. A lower price is useful only when the product meets your requirements. For a smartphone, consider storage, battery needs and software support. For headphones, focus on comfort and the features you actually use. For a streaming device, check compatibility with your television and whether the services you want require separate subscriptions. Check the amount you will actually pay Treat the product price, card discount and exchange value as separate items. Read the offer terms for eligible payment methods, minimum order value and maximum discount. Confirm that the saving appears in the payment summary before completing the purchase. Do not assume that every advertised benefit can be combined. If you are exchanging an old device, read the condition requirements and inspection process. Keep your budget based on the amount you can afford if the final exchange valuation is lower than expected. Review the seller and delivery details Check the seller, return or replacement policy, warranty coverage and delivery estimate for your PIN code. If the purchase is a gift, allow time to inspect it. Save the invoice and order confirmation so you can refer to the terms if you need support later. Make a shortlist and stay within budget Write down what you need before browsing. Set a maximum spend for each item and compare a few suitable options. Avoid adding accessories simply to reach an offer threshold. The useful saving is the amount you keep on a purchase you had already planned. Prices, stock, payment offers and delivery estimates may change. Confirm all details on the live product page and at checkout. This guide summarises selected announcements and does not guarantee availability or a particular discount. Source: Amazon.in via About Amazon India. Offer information checked on 16 October 2026.

GK
Girish Kannan
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Everything You Need to Know: Flipkart Big Billion Days 2026 Dates, Bank Offers & Top DealsPersonal Finance
3 Oct 2001

Everything You Need to Know: Flipkart Big Billion Days 2026 Dates, Bank Offers & Top Deals

Everything You Need to Know: Flipkart Big Billion Days 2026 Dates, Bank Offers & Top Deals. The annual festive shopping bonanza, Flipkart’s Big Billion Days 2026, begins on October 9, 2026. And those with Flipkart Plus, Flipkart Black and Flipkart credit cards get early access to all the exclusive deals and offers starting from October 8, 2026. ICICI and Axis Bank cardholders get a 10% instant discount. And, in this blog, we will cover the confirmed details of the Big Billion Day, including – deal format, bank offer, dates, and tips to save money during the sale. Flipkart Big Billion Days 2026 – Quick Summary Sales start date 9 October 2026 Early access 8 October 2026 (for Flipkart Plus, Black and Flipkart credit card members) Sales end date Not announced Bank offers 10% instant discount available for Axis Bank and ICICI Bank cards Flipkart Axis Bank Credit Card 10% savings Super.money 10% cashback on the first transaction Sale store Open Big Billion Days Store Early access is a big boon as it allows the users to get access to the exclusive and limited-stock deals. Most of the popular phones and large appliances are sold at the lowest price, and they get sold out on the first day itself. So, members who shop on the first day get access to the best deals. ICICI Bank or Axis Bank Card – which card allows you to save more? Both cards offer a 10% instant discount, so the choice comes down to three things that are easy to miss at the time of checkout: The discount limit matters, not the percentage The 10% discount offer is capped at a fixed rupee amount per order. This limit is a critical deciding factor of your real savings, and not the percentage of the discount itself. On a ₹ 12,000 phone, the 10% discount would be ₹ 1,200 and you may get the full discount. But if you buy a laptop worth ₹90,000, a 10% discount would be ₹9,000. But you may not leverage the full discount and there would be a cap on it. Flipkart has not published the cap on the discount amount yet for the 2026 Big Billion Days sale. Credit card vs debit card Both Axis and ICICI banks offer many credit and debit cards and the terms and conditions for each one is different. Debit cards typically carry a lower cap or have a higher minimum order value. So, as a customer, it is paramount that you check the offer terms on the checkout screen rather than assume that your debit card would get the same deal as the credit card. A separate offer for Flipkart Axis Bank credit card If you have a co-branded Flipkart Axis Bank Credit card, you get an additional 10% savings on top of the card’s standard cashback on Flipkart spends. This is one of the best cards to have while shopping on Flipkart during the Big Billion Sales, as its own line of 10% savings stacks up, and you can get a significant discount on large orders. If you don’t have any of these cards, it is best advised to check whether your own bank is running any festive cashback offer or campaign. Typically, most banks run some kind of offer during the festive period, and sometimes they don’t get listed on the Flipkart page. Sometimes bank discount does not apply at checkout – understanding the reasons behind it Every year, a large volume of online shoppers reaches the checkout page, and find that the instant discount they were promised is missing or is not applicable on their purchase. This happens because one of the following reasons: · Cart value is low: Typically, most offers have certain limitations, and they are applicable only on purchase of a minimum cart value. So, if the item you want to purchase is lower than that value, you may consider adding another item to cross the limit and take advantage of the discount. · The offer is already used: Generally, bank offers during the festive sales are limited to one or two transactions per car per sale period and sometimes per month. · Wrong payment option: Paying through UPI, wallet, or COD instead of the card on which the offer is applicable will automatically drop the offer. Choose the right payment method or the card as mentioned in the offer terms and conditions. · The product or the seller is excluded: Certain products or sellers that sell gift cards, or gold are generally excluded from bank offers. · EMI vs full payment Some offers are applicable on choosing EMI as the payment option, while others apply only on full payment and they are not interchangeable. So, when you shop during the Big Billion Days 2026 and checkout, check if the discount is clearly visible on the payment summary. If it is not there, do not complete the order and assume it will be credited later. Instant discounts are applied at the transaction and they are not refundable at a later date. Big Billion Days 2026 Deal Formats Flipkart has showcased six deal formats for this year’s sales: · BBD Specials – Headline deals and they are usually in limited quantities · Price Crash – Price drop on selected products · Tick Tock Deals – These are time-bound deals that keep changing throughout the day · Brand Hours – Additional savings are offered on purchase of products of a particular brand. These offers are usually for a limited period · Double Discount – An additional discount is offered on top of the product discount · Rush Hours – These are flash deals offered at fixed time slots The exact timings for the brand hours and rush hours are usually shown on the sales store. If you are waiting to buy a specific product or from a specific brand, you must keep checking its brand slot and buy during that window. Flipkart Big Billion Days 2026 Category Deals This year, Flipkart is revealing the sale prices of the products in phases on the Big Billion Days store. You must keep checking the store for the latest updates and confirmed prices. Category What to Expect Smartphones Check the live prices on the sale store Laptops and PCs Check the live prices on the sale store TV and home appliances Check the live prices on the sale store Earbuds and Smartwatches Check the live prices on the sale store Fashion, Beauty and Home Discounts are revealed closer to the sales day How to get maximum savings during Flipkart Big Billion Days 2026? Wishlist it now Add products to your wish list or the cart before 8-9 October so that you can check out and complete the purchase faster when the sale opens Keep a track of the price history The prices of some of the products go up before the sales, so that the discounts appear bigger. So, it is paramount that you compare and keep track of the product’s recent price before making the purchase. Keep the eligible card handy The 10% discount applies only to eligible cards. Make sure you keep those cards handy during purchase. Also, be wary of the discount limits and terms and conditions. Check the EMI terms Check whether the no-cost EMI and the instant bank discount can be clubbed together on your product before choosing the payment option. Compare the exchange value Check what your old phone, laptop or whatever item that you want to replace or exchange is worth elsewhere before accepting the offer on Flipkart. Don’t miss the return policy The window for returning items may differ based on the product category. So, check and confirm this before ordering anything. Flipkart BBD 2026 or Amazon Great Indian Festival – which is better? Flipkart and Amazon are unarguably two of the biggest e-commerce platforms in India and one of the fiercest competitors of each other. Both brands usually run the festive sales around the same time, and the same products are often priced differently on each of them. Amazon Great Indian Festival 2026 also starts on October 8. So, before you buy anything online, it is advisable that you check the price and compare the bank offers and discount deals on both before making the final purchase.

GK
Girish Kannan
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Term Insurance vs Investment Plans: What Actually Builds Wealth?Insurance
16 Sept 2001

Term Insurance vs Investment Plans: What Actually Builds Wealth?

Many people buy life insurance with one important question in mind. Will this policy protect my family and also help me build wealth? This is where confusion often begins. Buyers often compare pure protection plans with investment-linked policies without clearly understanding the difference. This guide explains term insurance vs ULIP (Unit Linked Insurance Plan) and other investment plans in simple terms so you can decide what truly supports long-term financial growth. Understanding Term Insurance Term insurance is the simplest form of life cover. You pay a fixed premium for a chosen number of years. If something happens to the policyholder during that period, the family receives a large payout known as the sum assured. There is no maturity benefit in most cases. The policy exists only to provide protection. Because there is no investment component, premiums remain low. This makes term insurance widely considered the best term insurance for young professionals who want high financial protection early in their careers without spending a large portion of income. Think of term insurance as a safety shield. It protects income and ensures that dependants can manage expenses even if the earning member is no longer present. Understanding Investment-Linked Insurance Plans Investment-linked plans, such as ULIPs, combine insurance with market investments. Part of the premium goes towards life cover, while another part is invested in equity or debt funds. Many buyers see this as life insurance as investment , expecting both protection and wealth creation from one product. While this sounds convenient, it is important to understand that charges, market risks, and long lock-in periods affect returns. Investment plans may work for disciplined long-term investors, but they require patience and awareness of market performance. Term Insurance vs ULIP: The Core Difference When comparing term insurance vs ULIP , the main difference lies in purpose. · Term insurance focuses on protection. · ULIPs and similar plans attempt to combine protection with investment growth. · Since ULIPs include investment management costs, premiums are higher. In contrast, term plans provide large coverage at a much lower cost. The money saved through lower premiums can be invested separately in mutual funds, retirement accounts, or other instruments. · Many financial planners suggest separating insurance and investment decisions. This approach gives flexibility and clearer financial tracking. Which Option Builds Wealth Better? Wealth building depends on consistent investing and long-term discipline. Term insurance itself does not create wealth directly, but it protects the earning capacity that makes investing possible. For example, if a young professional buys affordable term insurance and invests the remaining savings regularly, the investment corpus can grow significantly over time. This method often provides better transparency compared to bundled policies. Investment-linked plans may grow wealth, but returns depend on market conditions and policy costs. Understanding risk tolerance is essential before choosing them. Role of Insurance in Retirement Planning Insurance also plays an important role in long-term financial stability. Many people now include insurance while planning for retirement. Using insurance for retirement planning works best when responsibilities are protected first. A term plan ensures family security during working years, while separate retirement investments build future income. This balanced structure prevents retirement savings from being disturbed during unexpected events. Tax Benefits and Financial Advantages Both term insurance and investment-linked policies offer deductions under Indian tax laws. The tax benefits of life insurance India include deductions on premiums paid and tax-free payouts under specific conditions. However, tax savings should not be the only reason to purchase a policy. Protection needs and financial goals should always come first. What Should Young Buyers Choose? Young earners often have limited budgets but high future responsibilities. For them, starting with strong protection is usually the wiser step. The best term insurance for young professionals provides high coverage at a manageable cost, allowing them to invest separately and build wealth steadily over time. Investment plans may be considered later once income becomes stable and financial knowledge improves. Final Thoughts Choosing between term insurance and investment plans becomes easier once their purposes are clear. Term insurance protects income and family security. Investment plans aim to grow money but involve costs and risks. Instead of looking for one product to do everything, many individuals benefit from keeping insurance and investments separate. A clear protection plan combined with disciplined investing often creates stronger long-term wealth and peace of mind.

GK
Girish Kannan
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How Credit Cards Help Build Your CIBIL Score FasterCredit Cards
2 Sept 2001

How Credit Cards Help Build Your CIBIL Score Faster

Your credit score plays a major role in your financial life. Whether you apply for a loan, a home mortgage, or even certain financial services, lenders look closely at your credit history. In India, this is commonly measured through your CIBIL score. One of the simplest ways to strengthen your profile is by using a credit card responsibly. When used wisely, a credit card can help you build credit history India and improve your score faster than many other financial tools. How Credit Cards Affect Credit Score To understand how to improve your score, it helps to know how credit cards affect credit score calculations. Credit bureaus consider several factors when calculating your score: · Payment history Paying your credit card bill on time is one of the most important factors. Regular on-time payments signal reliability to lenders. · Credit utilisation ratio This refers to how much of your credit limit you use. Lower utilisation generally helps your score. · Length of credit history The longer you maintain active credit accounts, the stronger your credit profile becomes. · Credit mix A combination of different credit types, such as credit cards and loans, can improve your overall profile. When you use a credit card responsibly, you contribute positively to all these factors. Improving CIBIL Score with Credit Card You can improve CIBIL score with credit card use by following a few simple habits. · Always pay on time Late payments damage your credit score quickly. Set reminders or automatic payments so you never miss the due date. · Keep the credit utilisation low Try to use less than 30 per cent of your available credit limit. For example, if your limit is ₹1,00,000, keep spending below ₹30,000 whenever possible. · Use the card regularly Occasional transactions show lenders that you actively use credit and manage it well. · Avoid frequent applications Applying for many credit cards in a short period can reduce your score temporarily. These practices help create a strong repayment record, which gradually raises your score over time. · Build Credit History in India from Scratch If you are new to credit, a credit card can help you build credit history India more quickly than waiting for a loan opportunity. Many first-time users begin with entry-level cards offered by banks. Once you demonstrate responsible usage over several months, lenders gain confidence in your ability to handle credit. Over time, this can help you qualify for larger credit limits, premium cards, and better loan offers. Other tips to improve credit score Along with responsible card use, these credit score tips India can help strengthen your profile further: Check your credit report regularly for errors Avoid withdrawing cash from credit cards unless necessary Maintain older credit accounts rather than closing them quickly Pay more than the minimum amount due whenever possible Small, consistent habits often make the biggest difference in improving your credit profile. Choosing the Right Credit Card Selecting the right credit card is an important step in building a strong credit history. Different cards offer different benefits, fees, and eligibility requirements. This is where Unfiltered Money can help. It offers unbiased information about a wide range of credit cards available in India. Here, you can also compare key features such as annual fees, reward structures, cashback offers, and eligibility criteria. By reviewing different options side by side, you can choose a credit card that fits your financial habits and long-term goals. With the right card and responsible use, you can steadily improve your CIBIL score and build a strong credit profile for the future.

GK
Girish Kannan
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Hidden Clauses in Insurance Policies Most Buyers MissInsurance
22 Jul 2001

Hidden Clauses in Insurance Policies Most Buyers Miss

Buying insurance often feels simple. You choose a plan, pay the premium, and believe you are fully protected. But many people face problems only when they try to make a claim. The main reason is that they did not understand the small conditions written inside the policy document. These conditions are not meant to confuse buyers, yet they are often overlooked. Learning about the hidden terms in insurance policy documents can help you avoid stress and financial loss later. Why Reading the Policy Matters Most buyers focus on benefits shown in advertisements or summaries. Very few read the complete policy wording. Important rules are usually written in detail, sometimes called the fine print. Understanding the fine print in insurance explained simply means knowing what is covered, what is not covered, and when a claim can be denied. Insurance works smoothly when expectations match policy rules. 1. Policy Exclusions Many People Ignore Every insurance plan has limits. These limits are called exclusions. They explain situations where the insurer will not pay for treatment or loss. An insurance policy exclusions list may include: Pre-existing illnesses during the waiting period Cosmetic or non-medical procedures Injuries caused by risky activities Certain treatments in the first few years Buyers often assume everything is covered, which leads to disappointment during claims. Checking exclusions before buying helps you choose the right plan. 2. Waiting Period Clauses A waiting period is the time you must wait before certain benefits become active. Many policies include waiting periods for specific illnesses or existing medical conditions. For example, if a person buys health insurance today, some treatments may only be covered after one or two years. Not knowing this is one of the common claim rejection reasons insurance companies mention. Always check how long you must wait before full coverage begins. 3. Incorrect Information During Purchase One of the key aspects of buying an insurance policy is honest disclosure. If you hide medical history, smoking habits, or previous claims, the insurer may reject future claims on the grounds of policy non-compliance. Many people do this unknowingly, thinking small details do not matter. However, incomplete information is a major reason how insurance claims get rejected becomes a real concern for families. Providing accurate details at the beginning protects you later. 4. Sub-Limits and Payment Conditions Some policies place limits on specific expenses. For example, there may be a cap on room rent, doctor fees, or certain treatments. If expenses cross these limits, the policyholder must pay the difference. These limits are part of the hidden terms in insurance policy documents that buyers often miss because they focus only on total coverage amount. Reading benefit limits carefully helps avoid unexpected bills. 5. Policy Lapse Due to Missed Premiums Insurance remains active only when premiums are paid on time. Missing payments can cause the policy to lapse, which means coverage stops. If an incident occurs during this period, claims may not be accepted. Many people discover this rule only after facing emergencies, making it one of the avoidable claim rejection reasons insurance providers encounter. Setting reminders or choosing automatic payment options can prevent this issue. 6. Network Hospital and Claim Procedures In health insurance, cashless treatment works only at network hospitals. Visiting a non-network hospital may require reimbursement instead. Similarly, delayed claim intimation or missing documents can also lead to rejection. Understanding claim procedures in advance reduces confusion when emergencies arise. Final Thoughts Insurance is meant to provide security, but it works best when buyers understand the rules clearly. Learning about the fine print in insurance explained, reviewing the insurance policy exclusions list, and knowing common claim rejection reasons insurance companies mention can save both money and stress. Before buying any policy, take a few extra minutes to read the document carefully and ask questions. Understanding how insurance claims get rejected is not about fear. It is about being prepared. When you know what your policy truly covers, insurance becomes a reliable safety net rather than an unpleasant surprise.

GK
Girish Kannan
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