No cost EMIs allows you to pay back your lender only the MSRP of the product.
Interest rates are not applicable on loan schemes with no-cost EMIs.
For example –
If you bought a bike costing Rs. 1, 80,000 with 6-month tenure through a no-cost EMI loan scheme, you will pay back the debt in EMIs without any interest.
In short, you will only pay back the MSRP of the bike and no additional interest amount.