i would rather refute it, there are better things for money/cash to be put use to...camera is the one thing that you should get on interest free installment. Imagine, you potentially have the camera 6 months before if you would have went all the way and saved cash and waited for 6 more months.
As for HN, i recently bought from them and yes they do give slightly costly rate but if you add the 5% EMI charge that other retailers add on top of the cash price, the difference is not much.
J316/MS offered me a flat 5% extra over cash price for any CC installment option - which i found was quite reasonable. Added benefit is that even +5% is less than HN -PLUS- you get discount on other items.