To make the loan application process faster, we have introduced a complete digital end-to-end journey for customer on-boarding process where biometric login, E-NACH and OTP based application eSign is all that’s required during the application process.
Here is the step-by-step process for availing the loan.
1) Instant in-store EMI
Regular process for loan application:
Enjoy superfast approvals Biometric KYC process for loan application:
Experience a complete digital video KYC process for loan application: (coming soon)
2) Debit Card EMI
Not just this, you can also avail No Cost EMI* using Kotak Debit Card on the best-in-class shopping websites like Amazon.in. Watch the video to know more!
3) Smart EMI Card
Kotak Smart EMI Card is accepted across leading merchant outlets and shopping websites.
How to use?
Shop > Contact Cashier > Swipe your Smart EMI Card > Enter Smart EMI Card PIN > Complete the transaction
Add to cart > Visit payment page > Enter your Smart EMI Card number > Enter the OTP* > Click on ‘Submit’ > Complete the transaction
*6-digit OTP will be sent to your mobile number / email ID registered with the bank
How to repay?
Your primary Kotak Account will be debited from the EMI deductions. In case you don’t have a Kotak Bank Account, the EMI will be deducted from the Account mentioned in e-NACH / NACH form submitted at the time of purchase.
For this, you can visit the nearest store where Kotak Smart EMI has a tie up. Click here to find the store near you.
Currently there is no option available to change the EMI due date. Payment due dates are as per the schedule shared in the loan sanction letter.
You can view your EMI status through Kotak Mahindra Bank’s Net-banking. Please follow these steps: