No Cost EMI is an offer provided by Amazon India that allows customers to buy a product at zero interest. The offer enables customers to make payment to their EMI provider towards an online purchase in equally divided instalments over the repayment timeline. The following are some key points to keep in mind regarding No Cost EMI on Amazon:

• The No-Cost EMI option on Amazon is available on select categories of products including mobiles, large appliances, and laptops.
• The offer is applicable on "select sellers only".
• No-Cost EMI cannot be clubbed with balance in the e-commerce companys digital wallet service called Amazon Pay.
• The No-Cost EMI offer can be availed while exchanging an existing product to make a purchase at Amazon.
• The No-Cost EMI offer is applicable only on tenures of 3, 6, 9, and 12 months. If the customer avails a tenure of more than 12 months, they will need to pay an interest for the product they purchase.
• The bank will continue to charge interest on EMI as per existing rates. However, the interest to be charged by the bank will be passed on to the customer as an upfront discount at the time of purchase, effectively giving the benefit of a No Cost EMI.

It is important to note that the No Cost EMI is not really no-cost, as the customer ends up paying either the full price for a discounted product or an additional amount in interest if the product is not discounted. Therefore, customers should consider the pros and cons of No Cost EMI before opting for it.