New Delhi, Feb. 28 -- No-cost EMI facility on credit cards is gaining traction in India, especially during the festival season. In this, customers can buy premium products and pay for the amount in easy and convenient monthly instalments without incurring any extra burden of interest.

This provides an opportunity to facilitate easy and seamless buying through credit card users and a systematic way of repayment according to the terms and conditions established by the respective card issuing financial institution.

But the question arises: Is it really a good deal in the larger scheme of things?

No-cost EMI is a payment method in which cardholders can split the price of a purchase of an article into fixed monthly payments and the price is...