No you do not have to pay interest or payments for 40 months. There is an account keeping fee of $2.95 p/m
Obviously if you took out the loan for say $3,000 on a Plasma TV. You would pay $75 p/m and have it paid off after 40 months. No interest.
The catch is if you don't start paying it off until the 40 months is up you will be paying something like 26% p.a. interest.
