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A Complete Guide To Kotak Credit Card EMI – By CreditMantri

Kotak Mahindra Bank has been in the forefront of innovation in credit cards for the benefit of its users. Their credit cards offer some of the best features and benefits in the market. With an attractive interest rate and an easy EMI facility, Kotak Credit Cards are a perfect choice for all your financial needs.

The EMI facility offered by Kotak Credit Cards is truly unique and can be availed by the customers at very attractive interest rates. They can convert their transactions into easy EMIs in a single step.

Users can opt from one of the following EMI options –

- Instant EMIs

- Transaction to EMIs

- Outstanding to EMIs

Users can avail EMIs starting from 3 months to 48 months tenure.

The current interest rate ranges from 12% to 18% per annum depending on the tenure, and more importantly, it is charged at a reducing cost basis.

Today, we will learn in detail about the Kotak Credit Card EMI facility, how to avail it, and other terms and conditions. Before we begin, let us have a look at some of the popular credit cards offered by Kotak Mahindra Bank -

White Reserve Credit CardKotak 811 Credit CardKotak Indigo Ka-Ching 6e Rewards Xl Credit CardKotak Indigo Ka-Ching 6e Rewards Credit CardWhite Credit CardVeer Platinum Credit Card
Zen Signature Credit CardMojo Platinum Credit CardBiz Credit CardVeer Select Credit Card811 #Dream Different Credit CardKotak Infinite Credit Card
Nri Royale Signature Credit CardUrbane Gold Credit CardCorporate Wealth Signature Credit CardCorporate Platinum Credit CardCorporate Gold Credit CardPrivy League Signature Credit Card
Pvr Kotak Platinum Credit CardPvr Kotak Gold Credit CardRoyale Signature Credit CardBest Price Credit CardLeague Platinum Credit Card-

Also Read : Click here to learn more about the features of Kotak Credit Cards

What Are The Features Of Kotak Credit Card Instant EMI?

Kotak credit cards are widely sought after by users for the superior benefits and features that it offers. One of the most popular feature is the ‘Instant EMI’ feature that is available for all its credit cards users –

- Users can avail easy EMI option for purchases they make online and offline

- Buy Now Pay Later facility offered with zero cost EMIs on 250+ brands

- Convert the transactions instantly into EMIs, at the time of purchase itself

- No processing fees, no down payment, and no documentation required to avail this facility

- Repay the amount in flexible EMIs of 3 months to 36 months

How to avail this facility?

This EMI facility is available at the time of making the purchase, either online or offline. At the time of making the purchase at the retailer's store or website, Instant EMI must be selected. A backend conversion process is not involved. So you need to inform the store merchant about the EMI option before they swipe the card on the swiping machine. For online payments on the relevant merchant website, the cardholder or customer must choose the "Kotak Bank" EMI option and the needed tenure if the website offers Kotak Bank Instant EMI.

Here’s how you convert your in-store purchases into Instant EMIs:

“Shop > Contact Cashier > Choose EMI option > Swipe > Convert”

Here’s how you convert your online purchases into Instant EMIs:

“Add to Cart > Visit Payment Page >Select EMI option > Convert”

Interest rates on Kotak Credit Card Instant EMIs

TenureInterest rate (on reducing basis)
3 & 6 month EMI option12% p.a.
9 & 12 month EMI option14% p.a.
18, 20 & 24 month EMI option15% p.a.
30 month EMI option16% p.a.
36 month EMI option18% p.a.

Converting Transactions On Kotak Credit Card Into EMIs

Apart from the Instant EMI option, users can also convert their regular transactions into EMIs for convenient repayment.

- Convert any purchase, above Rs.2500, into easy EMIs

- Mobile phones, air tickets, online shopping, consumer durables, and more – all are covered under the EMI conversion facility

- Repay in flexible tenures ranging from 3 – 48 months

- Interest rate ranging from 1.17% to 1.50% per month

- No foreclosure charges so you can pre-close the loan any time during the tenure

Here are the steps to convert your Kotak Credit Card transactions into easy EMIs -

- Log in to your Kotak net banking account or Kotak mobile banking login

- Choose credit card

- Choose the transaction you want to convert to EMI

- You will be shown the available tenures and the corresponding interest rates

- Choose the option that suits your requirement and submit

- The transaction will be converted to EMIs and will reflect in the next billing cycle.

Converting Your Kotak Credit Card Outstanding Into EMIs

Sometimes, we may be faced with some huge expenses that we put on our credit card. But then, we may not be able to pay them in full in the next billing cycle. If you don’t make the payment, you will incur very high interest charges. What is the solution here? Converting the entire outstanding bill amount into EMIs can be a great help. Kotak Credit Cards offer this facility to its users so that they don’t incur heavy debt and are able to repay the bill amount comfortably.

Here are the steps to convert your Kotak Credit Card total outstanding into easy EMIs -

1. Log in to your net banking account or mobile banking login

2. Choose credit card

3. Choose the ‘Outstanding to EMI’ option

4. You will be shown the available tenures and the corresponding interest rates

5. Choose the option that suits your requirement and submit

6. The entire bill amount (except gold jewelry purchases) will be converted to EMIs and will reflect in the next billing cycle

Kotak Mahindra Bank places high importance to customer experience. The EMI facility is one of their primary credit card features to allow users to meet their financial needs any time and repay the amount comfortably.

Kotak Credit Card EMI – FAQs:

1. What are the EMI options available for Kotak Credit Card users?

Kotak credit card users can avail the following EMI facilities on their credit cards –

a. Instant EMIs

b. Transaction to EMIs

c. Outstanding to EMIs

2. Is the instant EMI facility available on all websites and merchants?

No, the instant EMI facility is available only with select online sites and store merchants.

3. What items can I buy using the EMI facility on my Kotak Credit Cards?

The EMI facility is available for transactions made for any items – shopping, groceries, consumer durables, electronics, and more. It is not available on purchases of gold jewelry.

4. What is the average interest rate of the EMI facility?

The average interest rate ranges from 1.10 – 1.50% per month.

5. What are the tenure options available for Kotak Credit Card EMIs?

Users can choose comfortable tenures ranging from 3 months to 48 months.

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