Frequently Asked Questions

The new version is more advanced and can give a much more accurate result after considering a bunch of more factors compared to the old version. The old version is much more simple and can produce real cost of No Cost EMIs while only considering any possible upfront only payment discount.

The new version can tell the actual cost of No Cost EMI as well as Standard EMIs on Credit Card by considering more factors like EMI Payment offers. This version will also tell you when it is better to buy a product on EMI because maybe the EMI Payment Offer more than compensates for the extra charges like interest, GST on Interest, processing fees and GST on that.

So the next time you want to buy anything be it an Electronic item like a Phone/Laptop/Camera or home appliances like refrigerators, washing machine or AC - we advise that you use the new advanced version only - maybe you'll find the EMI option to be more beneficial for your use case depending on the payment offers etc. You can also use our browser extension available for Google Chrome, Microsoft Edge, Mozilla Firefox and all other Chromium based browsers like Opera, Brave etc.

To be able to deduce the actual cost of EMIs, in addition to figuring out the hiddens costs like gst etc, we also have to understand the exact terms of payment offers and what payment methods they are applicable on. In addition one also needs to consider the reward points the user gets for spending on their credit card - where again a lot of terms and conditions come into the picture. We currently do not even try to deduce the reward points, and while we try to pick up the terms of the payment offers as listed on amazon - we face certain technical challenges in parsing absolutely correct terms because of the vast variation in the language used to list these offers often.

So we advise you to click on the view more details button and manually edit any input fields that you think we might've missed. It'd also be great if you could report the issue if you ever think the extension is not picking up certain offers correctly as this will help our continuous efforts to improve the extension. By the way, if you buy us a coffee here - it will for sure boost our development speeds 🙂

No Cost EMI is a promotional EMI offering wherein the interest component is passed on to the user as an upfront discount by the seller so that even after the bank charges interest on the discounted price, the cost to the user comes out to be the original cost of the product. This helps the seller get more sales and helps customers elevate their affordability and by extension their quality of life if used judiciously.

For example - If you are in the market for a new lens for your DSLR or mirrorless camera as a professional photographer, No Cost EMI might help you be able to afford a better, more expensive lens - which in turn might help your career. This is an example of how No Cost EMIs can be a boon for you. But if you go on a reckless shopping spree without taking into account your finances and priorities, the debt will catch up pretty soon potentially leaving you in a less than comfortable place financially. So in a way No Cost EMIs make your credit card experience more powerful - an innovation if you are prudent but a curse if you are not careful.

However, it is quite interesting to note that No Cost EMIs are not actually 100% No Cost. Assuming that you pay your credit card bills on time, you are still left with three primary costs that you have to bear -

GST on Interest Component - Remember that No Cost EMIs still attract interest charges on the discounted price. It's just that a discount equal to this interest component has already been passed on to you upfront so that it doesn't affect you. But the interest will still attract GST at the rate of 18%.

Processing Fees - Often Credit Card issuers like SBI, HDFC, ICICI, Axis, Kotak, IDFC First Bank etc will charge processing fees to the tune of a few hundred rupees. This may or may not be disclosed to you at the time of opting for the EMI option during your purchase process. This cost is additional and makes the cost of the item go over and above the original cost of the item. Making things worse, this processing fee also attracts a GST at the rate of 18%.

Foregoing Reward Points - Often Credit Cards don't offer reward points for EMI transactions which you'd have gotten if you chose to pay for the item in one go. There might also be certain offers as well that only apply to one time payments (although this cannot be considered a con in general as many times payment offers are also available exclusively for EMI payment options).

For example - The ICICI Amazon Pay Credit Card offers either 5% flat cashback on pretty much all purchases done on Amazon or offers 3, 6 months No Cost EMI on all products above a certain price point. Now, if you were to buy an item worth 10,000 from Amazon using this credit card - you could either pay upfront and get the item for an effective cost of Rs 9500 (after 5% cashback worth Rs 500) or you can get it on No Cost EMI. The point to note here is that if you opt for No Cost EMII, the seller will pass a discount such that the cost to the customer after the bank's interest is 10,000 and not 9,500. So this delta of Rs 500 should also be considered as the cost of No Cost EMI, that is obviously in addition to the other hidden costs like GST, processing fees etc as detailed above.

But not to worry, the pFinTools Credit Card EMI/No Cost EMI Cost Calculator breaks down all these costs for you so that you can make an informed buying decision and stay on top of your finances both through our browser extension as well as the calculator available on our website.

Some of the hidden costs in any EMI plan irrespective of whether it's No Cost EMI or Standard EMI are -

GST on Interest Component - Remember that even No Cost EMIs attract interest charges on the discounted price. It’s just that a discount equal to this interest component has already been passed on to you upfront so that it doesn't affect you. Despite all that, the interest component will always attract GST at the rate of 18% in both standard EMI as well as No Cost EMIs.

Processing Fees - Often Credit Card issuers like SBI, HDFC, ICICI, Axis, Kotak, IDFC First Bank etc will charge processing fees to the tune of a few hundred rupees. This may or may not be disclosed to you at the time of opting for the EMI option during your purchase process. This cost is additional and makes the cost of the item go over and above the original cost of the item. Making things worse, this processing fee also attracts a GST at the rate of 18%.

Foregoing Reward Points - Often Credit Cards don't offer reward points for EMI transactions which you'd have gotten if you chose to pay for the item in one go. There might also be certain offers as well that only apply to one time payments (although this cannot be considered a con in general as many times payment offers are also available exclusively for EMI payment options).

But not to worry, the pFinTools Credit Card EMI/No Cost EMI Cost Calculator breaks down all these costs for you so that you can make an informed buying decision and stay on top of your finances both through our browser extension as well as the calculator available on our website.

Also read - What is a No Cost EMI? Is it really No Cost?

You can certainly do that by calling your card issuer (eg - SBI, HDFC, ICICI, Axis, Kotak, IDFC First Bank etc) and get your EMI canceled. People often do this to trick the system and get the No Cost EMI discount without having to pay the interest that the discount was supposed to compensate for. But your card issuer may at times charge a foreclosure fee for such kinds of requests.

We do not advise customers to indulge in such activities as we feel it is unethical. No Cost EMIs were meant to help people boost their affordability but these tactics by certain customers might force merchants and banks to relook at the arrangement. Any adverse policy here will affect the many people who use No Cost EMIs as a necessary measure to scale up in life. Customers should rather learn concepts like Time Value of Money and focus on investing the extra cash in relevant financial instruments to generate more returns from the same money than abusing/tricking the system. Also understand that by opting for the EMI option, you are most likely foregoing the reward points that you'd have otherwise accumulated against your purchase.

We are really sorry that you are facing any such issue. Please carefully check the i buttons next to the text input field as well as any error message that you might be getting while trying to check the real cost of Credit Card EMIs, and ensure that you are complying with the message therein. In case if you don't understand something or are still getting the issue, please write to us using the contact us page with all the relevant details and we'll look into it immediately.

YES! We absolutely do not store any user data or track your behavior. Whatever data we use to show the real cost of EMI on Credit Cards is scrapped directly on the user's machine when they use the extension and none of this data is actually sent to our servers. Since we work with affiliate networks we might be paid a commission when you use our extension to buy anything, but none of that data is personally identifiable. I.e. - we have no way to identify who bought what and we get absolutely no details of the customer.

Besides, due to the strict review policies of the different browsers, we cannot even seek any unnecessary permission like the ones required to track/store user data without having to justify the use of that permission to the Browser's (Google Chrome/Microsoft Edge/Mozilla Firefox) dev teams.

For more information you may refer to our privacy policy at - pFinTools.com/Privacy

The extension is currently available on -

Google Chrome - link

Microsoft Edge - link

Mozilla Firefox - link

Most of the other chromium based browsers like Opera/Brave etc - link

Please note extensions/add-ons are generally only supported on PC/Macs and will be unavailable on devices that run mobile versions of Operating Systems like Smartphones, Tablets, iPads etc. with the exception of Chromebooks and Windows PC in tablet form.

Yes and No.

Yes because it's not really no cost - it still has some charges like GST, processing fees etc.

No because it can still be extremely useful and often these charges are declared upfront in one place or the other. With pFinTools Real Cost of No Cost EMI Calculator, you can figure out the exact charges in an even more practical sense without having to worry about reading the fineprints.

For more details on No Cost EMIs, please read - What is a No Cost EMI? Is it really No Cost?

Yes, the extension can automatically pick up all the required data to calculate the real cost of EMIs whether it is No Cost or not, according to the card you select. But the extension cannot be used on mobile devices or on websites other than amazon, for which you can use our website.

You should also try to confirm the input data used by the extension by clicking on the view more details to be on the safe side. Check - Why does the extension not work with 100% accuracy all the time and how does it affect me?

The extension currently works only for amazon.in and we're in the final stages to add support for flipkart as well. We will explore other platforms as well and your support will go a long way in helping us build more. Buy us a coffee?

This is tricky but there can be a couple of possible solutions to this -

You can couple wallet balance (eg - Amazon Pay balance or Amazon Gift Card balance on Amazon) with your credit card to pay for such an item. Although please check if this voids any t&c of any associated payment offers.

You can try overpaying your credit card balance in advance so that your credit card limit increases temporarily. But this method is not always possible and your card issuer i.e. SBI, HDFC, ICICI, Axis, Kotak, IDFC First Bank etc might have certain restrictions that dictate that you can only over pay the credit card so much.

Please note that in both these options since you are anyways prepaying the balance amount, you are effectively only getting EMI on an amount equivalent to your credit card limit that you are using up for the EMI/No Cost EMI Option.

Before proceeding, please also see - What is the impact of buying a product on EMI/No Cost EMI on my Credit Card's Limit?

When you buy a certain product like a digital camera, phone, laptop, electronics or anything else on EMI be it standard EMI or a No Cost EMI using your credit card, limit equivalent to the price of the item is blocked in your credit card initially a period equal to the tenure of the loan(EMI). Which means you can only use your credit card for an amount equal to

[Your Credit Limit - Price of Item bought on EMI]

As you keep paying your EMIs every month, your available credit limit will keep restoring to its original amount by an amount equal to the principal portion of the EMI.

Please note that for No Cost EMI the amount blocked will be equal to

[Price of the Item - No Cost EMI discount]

For more details, read - What is a No Cost EMI? Is it really No Cost?

While the general wisdom dictates yes and you should definitely be wise - the actual numbers might advise something else entirely. This is because of two reasons -

Sometimes there are payment offers associated with opting for EMI which may not be there for paying upfront. These payment offers can sometimes compensate for the financing charges or specially in case of No Cost EMI actually make it cheaper than paying upfront in terms of total amount.

Because of EMI payment offers or in case of No Cost EMI without any other payment offers on EMI or Upfront Payment, it might be despite the financing charges, the loan might turn out to be something like 2% APR, which is actually absolutely fine given the same money sitting in your bank account can even earn rates upward of 3% easily, even more if you decide to invest it in FD or any other financial instrument.

Having said that, it's really important that you only buy things that you really need and can afford because even with EMI/No Cost EMIs, you'll eventually have to pay for the purchase for sure. It is advisable to have the total amount saved/invested somewhere so that you can also benefit from time value of money, before opting for the EMI option. You should also note that typically EMI transactions on your credit card from issuers like SBI, HDFC, ICICI, Axis, Kotak, IDFC First Bank etc will not earn you the reward points that you'd earn by paying upfront.

Another thing to consider is whether or not, you'll have sufficient credit limit available on your Credit Card after opting for the EMI. For more details, read - What is the impact of buying a product on EMI/No Cost EMI on my Credit Card's Limit?

You must buy the stock at least a day before the ex-date (ex-dividend date) to be eligible to receive the dividend. It is also important that you don't sell it before the ex-date.

See also - What is the ex-date and what is the record date? How are the two related?

You can sell the stock on the ex-date (ex-dividend date) and still be eligible to receive the dividend. It's important to note that you need to have bought the stock at least a day before the ex-date.

See also - What is the ex-date and what is the record date? How are the two related?

Dividend Stripping traditionally used to be a method to deliberately convert capital gains into dividend income so as to avoid or lower tax implications. But in the recent years this has become unfeasible/unprofitable in India thanks to abolishment of DDT and introduction of Section 94 (7) of the Income-Tax Act which focuses on tackling this very concern.

Read more about it here - The Concept of Dividend Stripping in India - by cleartax, Understanding the concept of dividend stripping in India - by Tax2win

The ex-date or the ex-dividend date is the first day a stock trades with the stock price reduced by the amount of the dividend amount. It is the date before which you need to have bought the stock to be eligible to receive the dividend in your linked bank account.

The record date is the day when a company checks its list of shareholders to determine the shareholders eligible to receive the dividend. This is linked to the ex-date depending on the trade settlement cycle.

While traditionally the record date came a day or two after the ex-date, as Indian Stock Market moves from a T+2 day settlement cycle to T+1 and eventually T+0 phase wise, the ex-date and record date may even fall on the same day. For this very reason, the pFinTools Dividend Calendar shows only the ex-date to avoid any confusion. The record date anyways is for the company's internal bookkeeping purposes and doesn't concern the investor all that much practically.

Read more about the Indian Stock Market's Transition from T+2 to T+0 settlement cycle here - T+0 Settlement: A new dawn in Indian stock market - by The Economic Times

Please note that the actual dividend payment date is independent of the ex-date or the record date and is purely at the discretion of the dividend issuing company.

When a company pays a dividend, the stock price of the company is reduced by the amount of the dividend being paid per share so that the declaration of profit does not affect one's net gains from an investment. So while dividend proves to be a sure shot way of profit booking by transferring a part of your investment to your bank account, it does not really benefit the investor directly by itself (unlike a buyback); instead in many cases it can have a negative impact on your tax liabilities - see How are dividends taxed?

A dividend is a type of corporate action and one of the many ways a company rewards its shareholders. Dividends are often announced quarterly/annually or to commemorate special feats/events - and can accordingly be categorized as Final, Interim or Special Dividend. While dividends are often seen as a way to share profit with the shareholders, the company might also decide to pay dividends after a non-profitable period using cash reserves.

Read more about Dividends here - Dividends: Definition in Stocks and How Payments Work - by Investopedia

In India, Dividends are added to your regular income and taxed according to your Income Tax Slab depending on whether you are opting for the old tax regime or the new tax regime. This is different from Capital Gains Taxes on income due to Price Appreciation of a Stock.

Read more on the tax implications of Dividends in India here - Tax on Dividend Income: Do I Need to Pay Tax on Dividend Income? - by cleartax

The dividend is paid on the Payment Date which is independent of the ex-date or the record date and is completely at the discretion of the company. It can range from a few days to a few months after the record date.

Read also - What is the ex-date and what is the record date? How are the two related?

The Yield is the USP of the pFinTools Dividend Calendar as pFinTools is the first and only platform (as of writing this answer at least) that shows the yield of an upcoming dividend if you were to invest in the stock right now. It is calculated as the dividend amount upon the stock price of the company. This figure is updated in real time in line with changes in the stock price of the company and is the percentage of your investment you will get back in your bank account as dividends.

The yield shown on pFinTools Dividend Calendar is shown for each instance of the upcoming dividends on the calendar while the conventional dividend yield is the average yield of all the dividends declared by the company in the last one year or similar period.

Also read - What does a headline like stock 'X' announces 1000% dividend mean?

We at pFinTools very strongly believe that headlines like Stock 'X' announces 1000% dividend are misleading click bait headlines. The reasoning is that the 1000% dividend is calculated by dividing the dividend amount by the face value of a stock - a number that is decided at the time of incorporation of the company and is largely redundant and independent from the market value of the stock.

Eg - If Vedanta were to announce a dividend of Rs 10, some headline will read - Vedanta announces a 1000% Dividend on grounds that the face value of the Vedanta stock is Re 1. But not to worry, the one of a kind pFinTools Dividend Calendar will still show you the real yield of the announced dividend by replacing the denominator with the real time share price of the stock.

Read also - What is Yield shown on the pFinTools Dividend Calendar? How is it different from conventional dividend yield?

This might happen because of one of the following reasons -

The dividend amount is not yet decided by the company even though the dividend has been announced.

The stock price of the particular data point is not available with our data source. This is more probable to happen if the stock is just listed on NSE and not available on the BSE.

If you face any such issues where you think the reason is not one of the points mentioned here, please let us know using the contact us page so that we might look into it and rectify the issue.

Yes you can sort data by any of the column headers including ex-date (ex-dividend date), yield etc on the pFinTools Dividend Calendar by clicking on the little arrow icons next to the column headers. You can also set your own filters for all the column headers in both Upcoming Dividends as well as the Historic Dividends data.