New Delhi, Nov. 7 -- Diwali is one of the biggest shopping occasions in India, with retailers and e-commerce platforms offering discounts on smartphones, televisions, refrigerators and other expensive consumer durables. For buyers planning big-ticket purchases, no-cost EMI offers can make spending easier by spreading payments over three, six or 12 months instead of paying the entire amount upfront.

However, choosing between an upfront payment and no-cost EMI is not always straightforward. While no-cost EMI allows consumers to spread payments without directly bearing the interest, it does not necessarily make a purchase cheaper. Manufacturers or retailers typically absorb the interest cost, while buyers may still have to pay processing fe...