THIS bank offers ‘Everything on EMI’ to debit cardholders, have an account here?


New Delhi: Kotak Mahindra Bank Ltd (KMBL) has announced that all eligible Kotak debit cardholders can now avail the Equated Monthly Instalments (EMI) on Debit Card facility on all their mid and high-value purchases, at all offline and online stores across the country.

Offered under the #KotakSmartEMI initiative, this enables KMBL customers to buy virtually anything and everything – from groceries and fashion to smartphones and electronics – at any merchant establishment and pay via easy instalments.

How to avail #KotakSmartEMI*:

•             Customer makes a purchase through Kotak debit card at any online/ offline store.

•             S/he will get a link via SMS, which can be used to convert the transaction into an EMI.

•             Customer clicks on the link, chooses her/his preferred EMI tenure, reviews details and confirms the transaction.

•             The transaction is instantly converted into EMIs.

•             The original amount swiped is credited back to the customer’s account.


So far, shoppers could avail EMI on debit cards only at particular outlets based on a tie-up between the merchant and the bank. Now, under the #KotakSmartEMI initiative, KMBL has extended the EMI on Debit Card facility to cover all permitted categories at any merchant store across the country, thus giving KMBL customers the convenience and freedom to buy virtually everything on EMIs. Transactions of Rs 5,000 or more can be converted into EMIs with no paperwork or documentation required.

Customers must note that credit is at the sole discretion of Kotak Mahindra Bank Ltd and subject to guidelines issued by RBI from time to time. Bank may engage the services of a marketing agency for the purpose of sourcing loans assets.

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