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 website, amount taken in FreeCharge Balance or bank a/c. For eg.- Your approved amount is Rs 40,000 and you use Rs 10,000 for transaction on any merchant and Rs 5000 are taken in Bank A/c. Then you have to pay EMIs only for Rs 10,000 + Rs 5,000 as per the tenure chosen by you.