No interest will be charged on activating FreeCharge EMI facility. Interest is charged only when you use the money for any transaction. The interest charged ranges between 12% to 26% Annualised Percentage Rate (APR) depending upon your credit profile. Interest charged by the lender will be clearly shown to you at the time of each disbursement. A small Processing Charge is also levied when you use this money which will be shown to you at the time of transaction. We never charge any compounding interest, prepayment fees or any other hidden fees.