No. You do not pay any EMIs for the amount that is approved and not used by you. EMIs are paid only on the amount used for any merchant transaction or on the amount taken in FreeCharge Wallet. For eg.- Your approved amount is Rs 40,000 and you use Rs 10,000 for the transaction on any merchant and Rs 5000 are taken in FreeCharge Wallet. Then you have to pay EMIs only for Rs 10,000 + Rs 5,000 as per the tenure chose by you.