Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Kotak Mahindra Credit Card EMI

    Convert your large purchases into Equated Monthly Instalment (EMI) plans with Instant EMI offered by Kotak Mahindra Bank. This buy now and pay later plan is available with over 250 brands with no processing fees or documentation requirement. The Credit Card EMI plan is also offered at 0% interest on leading brands.

    Features and Benefits

    Here is everything you need to know about the EMI plan:

    • The Instant EMI plan is available on in-store purchases as well as online purchases.
    • You will need to swipe your Kotak Mahindra Credit Card to convert the purchase into an EMI plan.
    • Choose from repayment tenures between 3 and 36 months.
    • No Cost EMI offered on select leading brands.
    • The interest rates charged are lower than credit card interest rates.
    • There is no down payment required.
    • There is no processing fee charged.
    • No documents are required to be submitted.

    Interest Rates on Instant EMI

    The interest rates charged under this Credit Card EMI plan will depend on the repayment tenure chosen and will be on reducing basis. Here are the interest rates charged for the Instant EMI plan:

    Tenure Interest Rate
    3 months 12% p.a.
    6 months 12% p.a.
    9 months 14% p.a.
    12 months 14% p.a.
    18 months 15% p.a.
    20 months 15% p.a.
    24 months 15% p.a.
    30 months 16% p.a.
    36 months 18% p.a.


    Say you make a purchase worth Rs.5,000. Here is how the instalment payment plan will work for different tenures:

    Tenure Interest Payment Total Payment
    3 months and 6 months Rs.600 Rs.5,600
    9 months and 12 months Rs.700 Rs.5,700
    18, 20, and 24 months Rs.750 Rs.5,750
    30 months Rs.800 Rs.5,800
    36 months Rs.900 Rs.5,900

    The total cost for your purchase worth Rs.5,000 will differ between Rs.5,600 and Rs.5,900 depending on the tenure chosen by you.

    How to Convert Purchases into Instant EMI

    The process to convert your purchase into an easy EMI plan will vary depending on whether you are shopping online or offline.

    Converting In-Store Purchases

    • Shop for products.
    • Contact the cashier and inform them about converting the purchase to the Instant EMI plan.
    • Choose your preferred tenure.
    • Swipe your Kotak Mahindra Credit Card to complete your purchase.
    • Your purchase will be automatically converted to the EMI plan.

    Converting Online Purchases

    • Add products to Cart.
    • Go to the Payment Page.
    • Select your EMI option.
    • Convert the purchase into the EMI plan.
    • Complete payment using your Kotak Mahindra Credit Card.
    • Your purchase will be automatically converted to the EMI plan.

    FAQs on Kotak Credit Card EMI

    1. Is the EMI plan available on all Kotak Mahindra Cards?

      No. This plan is not applicable on Corporate cards and B2B cards.

    2. Will the EMI conversion occur immediately after the purchase?

      No. The bank will take at least 4 business days from your transaction date to convert your purchase into the Instant EMI plan.

    3. Is there any type of purchase that cannot be converted to the Credit Card EMI plan?

      Yes. Purchases made at jewellery stores or merchants with a Jewellery related MCC (merchant category code) will be not be converted to this plan.

    4. Can I change the tenure once I have paid for my purchase?

      No. Once the payment has been completed after choosing a tenure, it cannot be changed.

    5. What happens if I cancel an order I have placed online and chosen the EMI plan?

      In case of order cancellations/returns (in-store and online), you will have to inform the bank by calling the Kotak Credit Card customer care number within 15 days from the date you have received the refund from the merchant. The refund provided by the merchant will not be considered as an EMI payment. You will have to separately cancel the plan with the bank.

      You can call the bank on 1860 266 2666 or 1860 266 0811 for further information if you are an 811 customer.


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