Kotak Debit Card EMI & Smart EMI

Features and Benefits of Kotak Bank Debit Card EMI:

The following are the features and benefits of Kotak Bank Debit Card EMI:

1. Kotak Mahindra Bank provides an option to its debit cardholders to avail a No Cost EMI on their debit cards.

1. An approved credit limit is offered by the banks to its debit cardholders using which they can purchase and convert it into monthly EMIs as per their convenience.

1. The bank does not ask for your Know Your Customer (KYC) documents to apply for this debit card.

1. The bank will deduct the EMIs every month from the bank account that is linked with the kotak debit card.

1. Customers can avail loans of up to Rs.15 lakhs on purchases made from the bank’s partnered stores.

1. You are allowed to choose your repayment tenure as per your convenience. The repayment tenure ranges from three months to 24 months.

1. Kotak Mahindra Bank provides instant approval for its debit card EMI. All you have to do is provide your basic information to the partnered store and you will get instant loan approval.

1. It charges minimal processing fee varying from Rs.99 to Rs.2,999.

Fees and Charges

Let us look at the fees and charges of Kotak Bank Debit Card EMI:

Eligibility Criteria

To avail Kotak Bank Debit Card EMI, you need to fulfil the following eligibility criteria:

1. An individual should be an Indian.
2. Age limit:
   1. For digital products: Minimum age: 23 years, Maximum age: 65 years
   2.  For consumer durables: Minimum age: 21 years, Maximum age: 65 years

1. The present resident city of the customer should be same as that of the merchant store from where they purchased the product.
2. Salaried, pensioner, self-employed, and business owners are eligible to avail the card.

Application Process

There are various loan application processes introduced by Kotak Mahindra Bank to avail its debit card EMI. Let's have a look one by one.

Instant in-store EMI

Given below is the regular loan application process:

1. Visit your nearest merchant store to purchase your desired product.
2. Once you have finalized the purchase of the specific product, you need to ask the storekeeper for Kotak Smart EMI schemes.

1. Next, you have to provide all the documents to apply for the consumer durable loan.
2. Once your documents are verified, make the down payment to complete your payment procedure. The rest of the amount will be converted into easy EMIs.

The following are the Biometric KYC process for your loan application:

1. Visit your nearest store to purchase your desired product.
2. Ask the store person for Kotak Smart EMI schemes.

1. Next, use your thumbprint for biometric KYC.
2. The loan will be approved by the bank instantly.
3. Finally, make the downpayment and get the product delivered.

Now, let’s have a look at a digital video KYC process for loan application:

1. Visit the nearest partnered merchant outlet and choose your desired product.

1. Ask the store person about Kotak Smart EMI and go for Video KYC.
2. The store person will enter all your details in the online platform.
3. Once the bank approves your loan, the Video KYC agent will contact you.
4. For video KYC, you need to keep your Permanent Account Number (PAN) card and Aadhar card with you.
5. Post Video KYC, the loan will be processed by the bank.

Debit Card EMI

The following are the steps to get debit card EMI:

1. First, you have to SMS DCEMI(space)(Last four digits of your Kotak Debit Card) and send it to 5676788.
2. Once, you get to know the credit limit approved by the bank, visit your nearest partnered store and choose your desired product.
3. Get information about Kotak Debit Card EMI and swipe your card at the POS terminal.

1. Choose your preferred EMI tenure.
2. Enter your debit card PIN for validating your payment and complete the payment procedure.

Smart EMI Card

Various reputed shopping stores and e-commerce websites accept Kotak Smart EMI card.

At merchant stores:

1. Visit your nearest merchant store.
2. Select your desired product and contact the cashier.
3. Swipe your Kotak Smart EMI card.
4. Next, enter the PIN to complete the transaction.

At e-commerce websites:

1. Add the product to the cart.
2. Click on ‘Proceed’ to get redirected into the payment page.
3. Next, enter your Smart EMI Card number.
4. You will receive a One Time Password (OTP) at your registered mobile number.
5. Enter the OTP and click on ‘Submit’ to complete the transaction.

How to Convert Kotak Debit Card Online Shopping Bills to EMIs

The following are the steps to convert your debit card purchases into Smart EMIs:

1. Once you have used your Kotak Debit Card for shopping purposes, the bank will send you a link via SMS using which you can convert the payment amount into easy EMIs.
2. Next, click on the link that is sent by the bank and choose your desired EMI tenure.
3. Once the confirmation is done, the bank will credit back the debited amount into your Kotak Bank account.

1. From the next month, the bank will auto debit the EMI from the bank account linked with the card.

Kotak Debit Card EMI Payment Online

There are various ways through which you can pay your Kotak Debit Card EMI online.

At Kotak Bank Account

1. Visit https://www.kotak.com/en/personal-banking/payments/loan.html.

1. Select ‘Kotak Bank Loan EMI Payment’ from the drop down menu and click on ‘Pay Now’ button.
2. You will be redirected to a new page.
3. Enter your loan account details and captcha code and click on ‘Pay Now’.
4. Choose your desired payment method to complete the payment procedure.

At Paytm

1. Open your Paytm app.
2. Choose ‘Kotak Mahindra Bank Ltd.’ under the ‘Lender’.
3. Next, enter your loan account number and fetch the bill.
4. Click on ‘Proceed’ to make the payment.

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