New Delhi, Oct. 26 -- Buying a new smartphone, laptop or household appliance has become easier with payment options such as Buy Now, Pay Later (BNPL) and credit card EMIs. Both allow consumers to spread the cost of a purchase over time instead of paying the entire amount upfront. However, the convenience of smaller instalments does not necessarily mean the purchase will cost less.

While BNPL platforms often advertise zero-interest payments, credit card issuers offer no-cost EMIs, cashback and flexible repayment tenures. The actual cost depends on the interest rate, processing fees, taxes and repayment period. Choosing the wrong option could mean paying more than the original purchase price.

So, which payment option is cheaper, and how c...