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:
Say you make a purchase worth Rs.5,000. Here is how the instalment payment plan will work for different tenures:
3 months and 6 months
9 months and 12 months
18, 20, and 24 months
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.
Frequently Asked Questions
Is the EMI plan available on all Kotak Mahindra Cards?
No. This plan is not applicable on Corporate cards and B2B cards.
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.
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.
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.
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 their Phone Banking 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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Already I had taken a personal loan from KOTAK at that time banker has offered a credit card with life time free. I have been using this card for one year. The credit limit is sufficient and I never preferred for the cash limit. I utilized EMI conversion more than 3-4 times but charges are high. I use this card for shopping and all other purposes. I don't feel they are providing much offers .
I am using Kotak Mahindra Bank credit card for the past 6 months .The credit limit was really good and converting emi option is there .This card is very useful on all circumstances and it dont have cash on hand this will play a vital role.This card was delivered on time .
I am using League credit card more than 6 months from Kotak Bank. This is an excellent card. Maximum I am using for online shopping, Eb payment and recharges, online payments and domestic shopping, home appliances through online and I applied this card through other channel.
Credit limit from Kotak Bank which is okay limit and the service need to be improved. The rate of interest was high in this bank which they need to decrease .I am getting a reminder call but they need to improve the tele calling system and other part.
Kotak Bank credit card service was good, they have a wonderful application and its a customer friendly bank because I am struggling to use other bank. I am getting 1+1 movie offer on this card even if I spend 1L in a year, i am getting 2 movie tickets free which am happy.
Mostly am using this Kotak Mahindra credit card for shopping, bill payments, etc and this card has a EMI facilities, usually i won't go for EMI. This bank has a very good customer service and i got this credit card offer directly through bank only.
I was using KOTAK card past 2 years ago. I chosen this card from my end which applied direct to bank. They provided a life time free card and the credit limit was low of 15K only. I was using this card for shopping and other usage and getting benefits. Then I felt not interested to hold this card for further so I raised a request to close the card and it was done on time from bank.
I am using Kotak Mahindra Bank credit card which was taken through bank.I am using this credit card almsot 10 to 12 years only since have salary account bank offered this credit card .This was a life time free card and not using this credit card much .I am using this credit card for shopping and dinning .I have submitted documents through agent and the process was smooth and good .
I have a PVR credit card with Kotak Mahindra Bank which am using it for around 5years. I have an issue with the limit, now its 83K but when I started it was only 25K. I am not paying annual fee. There is no special benefits, only they have provided 2 pvr tickets when I purchased above 10K.
I am using KOTAK Bank credit card for last one month and i applied this card directly through bank. I have an account with this bank based on that i got this offer without any documentation its pre approved. This card has buy 1 get 1 movie ticket offer.
I have an account with Kotak Bank, so i got this credit card offer. They have increased the limit with in one month , now the limit is sufficient and i am using Kotak service is very good which am using it for past 2.5 years. I am using this card for all purpose.
I have Kotak Mahindra Bank credit card which was taken through bank. I am using the card for the past 1 year and this card is having was very less credit limit which I would suggest them to increase. EMI conversion is included and easy to navigate.
I got a offer from KOTAK Bank for credit card which have availed and i was using for the last 2 years. This is a free card actually its card to card basis. Actually i use this card for medicine, groceries, mobile bill, EB bill payment. Overall its working good.
I have been using the Kotak Mahindra bank credit card but i am planning to close this card because of non usage. They will give some reward points based on my usage. There will be one movie ticket free every month from PVR Cinemas. They have given me a satisfied credit limit. They charge a yearly fee of Rs. 499 any way it will be waived off. One of the executive approached me to get this card.
In Kotak Mahindra bank, i have been holding urban credit card for around 2 year which is a basic card so i won't get much benefits. Value of the reward point is very low. Since i hold a savings account with Kotak Mahindra bank, they have forced me to take this card actually they gave me a upgrade option but am not interested. Overall, customer care service is good. EMI, processing fee and fore closure fee is quite high when i compared to others. Their reward point conversion should be bit more higher.
Took my Kotak Mahindra bank credit card around 2 years. There is a waiver option, if i spent a limit of Rs.35000 in a year. It does not have any free movie ticket offer. They have increased my credit limit on a yearly basis. They keep on sending me a offer notification through SMS. I'm receiving the bills on time and i haven't received the hard copies.
I access the online transaction on my Kotak Mahindra bank and I'm not that much satisfied with the customer care service because its not getting connected easily and it takes lot of time. EMI conversion facility is very good when i compared to other cards because when i select the EMI option, they will inform their terms and conditions through mail after that they will process.
KOTAK has given the cash limit of 40K and they have enhanced the credit limit of 3- 4 times for past 2 years. Some time I use this card for fuel purpose. They have given option for EMI conversion. Generally I use this card for all purposes and getting good benefits.
From KOTAK Bank, i am using Delight credit card for more than 1.5 years and it was applied directly through bank. Sometimes, am getting reward points and there was some offers on bookmyshow.com. If I spend 40K in a year then annual fee will be zero. I got 1L as a credit limit.
I was holding KOTAK bank credit card for more than 2 years. It was a life time free card but the service is not up to the mark. There is no proper intimation for my query and also not easy to connect them, at initial I got the credit limit of 25K. since there is no proper service, I have cancelled this card.