FAQS

Frequently Asked Questions

icon

How do I apply for a new Smart EMI Scheme?

For this, you can visit the nearest store where Kotak  Smart EMI has a tie up.  Click here to find the store near you.

How do I change my EMI date?

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.

What is my EMI date?

Your next EMI is as per the schedule shared in your loan sanction letter.

How can I view my EMI status?

You can view your EMI status through Kotak Mahindra Bank’s Net-banking. Please follow these steps:

  • Enter your CRN number and create a new password.
  • Login to net-banking with your new password
  • Enter the dynamic access code (sent to your registered mobile number)
  • Check ‘overview status’.

Where can I view my loan documents?

The sanction letter is sent to your registered Email ID available with the bank (as mentioned by you in the application form).

What are the features of Smart EMI Scheme?

  • Instant loan approvals of up to Rs. 15 lakhs
  • Zero down payments or up to 30% of the product price as down-payment
  • Processing fee ranges from ₹99 to ₹2,999 on select products, merchants, payment mode is applicable.
  • No Cost EMI*

For more details you can visit the nearest store click here for list of stores.

How and when can I foreclose my Smart EMI Scheme?

It’s mandatory to pay first 3 EMIs then after, please write a mail to cdservice@kotak.com for foreclosing the Smart EMI scheme. You will receive a mail from us with all the details.

How do I get the NOC letter of my loan completion?

The NOC letter will be sent to you registered Email ID within 7 working days after the completion of the loan. If in case you have not received the NOC, please write to us at cdservice@kotak.com or call us on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays.

What is CIBIL score, and why is it required?

Your CIBIL score is your credit score. It reflects how well or how poorly you have dealt with loans or credit cards in the past. It is also known as ‘CIBIL TransUnion Score’. The higher your CIBIL score, the better your chances of getting a loan approved from the bank. A higher CIBIL score increases your chances of a loan approval from the lender or a bank.

How do you get my consent for CIBIL information report?

We have taken your consent through an OTP that you gave us when you have filled your loan application at the store.

How do I get my foreclosure letter?

To make early repayments / foreclosure, you can write to us on cdservice@kotak.com or call us on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays.

Do I need to pay anything additional to avail a loan from Kotak Smart EMI?

This depends on the product and the merchant. Certain products could attract processing fees from certain merchants. Rs.100 is payable towards stamp duties and allied services.

What documents will I have to submit for the approval of my Smart EMI loan?

Basic KYC documents including:

 

  • Pan Card
  • Identity proof
  • OVD (Officially valid document) for address proof
  • 1 post-dated cheque

Could my loan application be rejected? If so, what should I do?

Approval/rejection of financing is solely at the discretion of Kotak Mahindra Bank Ltd. If your loan application is not approved, you can re-apply after 90 days.

Do I have to make a down payment for availing the Smart EMI Scheme?

A down payment would depend on the scheme that is selected. Schemes get reviewed regularly and may change without any prior notice. Our representatives available at the respective stores will inform you.

When do I pay my EMI? How would I get to know about the same?

EMI is payable on the due date of every month (as per the schedule shared in the loan sanction letter). If your payment is not deducted from your bank than you will receive text message for the same and the payment can be made at your nearest Kotak Mahindra Bank Ltd branch or through online payment (IFSC Code: KKBK0000631, Account Number: CFB (Consumer Finance Business) Loan Number).

Will I get any notification or reminder before the EMI is deducted from my bank account?

Yes, through a text message on your registered mobile number.

What is the process to cancel the Smart EMI Scheme?

There is no process for cancelling the loan. There is a process to foreclose the loan. For more details please call us on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays OR write to us on cdservice@kotak.com.

What if I want to change my repayment mode (banking details)?

In case you need to change your EMI repayment account please visit the nearest RA (Retail Assets) branch click here for the branch list Or call us on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays.

How do I update / change my ECS mandate / repayment mode with Kotak Smart EMI?

In case you need to make changes to your banking details, please visit the nearest RA (Retail Assets) branch click here for the list and submit a NACH (National Automated Clearing House) mandate form + cancelled / 1 PDC (Post dated cheque) cheque of the new account bank from where you want your future EMI to be debited.

How can I make my overdue payment?

You can make your overdue payments through any Kotak Mahindra Bank branch OR through online payment (IFSC Code: KKBK0000631, Account Number: CFB (Smart EMI Business) Loan Number).

How can I make a part prepayment?

You can make your overdue payments through any Kotak Mahindra Bank branch OR through online payment (IFSC Code: KKBK0000631, Account Number: CFB (Consumer Finance Business) Loan Number).

I have made my overdue payment at the nearest branch, but I am still receiving collection calls. What should I do?

Please send your statement details to cdservice@kotak.com. We will process your request after checking your payment details. OR call us on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays.

Where do I enquire about my loan details or issues with the transaction?

Please send a mail to cdservice@kotak.com OR call on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays.

How can I check the statement of my paid EMIs?

You can view your total EMI status through Kotak Mahindra Bank’s Net-banking. Please follow these steps:

  • Enter your CRN number and create a new password
  • Login to net-banking with your new password
  • Enter the dynamic access code (sent to your registered mobile number)
  • Check ‘overview status’

How will I receive a refund, if my EMI amount is debited from my account more than once in the same month?

48 hours after the payment was deducted, please log a request to adjust the ‘EMI for next due’ or ‘for getting a refund into your account’ and write to customer care on cdservice@kotak.com OR call us on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays.

For which products can I avail of the Smart EMI Scheme?

You can buy a wide variety of consumer goods under Kotak Mahindra Bank’s Smart EMI. For example: air conditioners, televisions, Refrigerators, washing machines, microwaves, cameras, laptops, mobiles, tablets, kitchen appliances, and audio devices. 

If you would like to have more information about the products that you can buy with the bank’s consumer finance, please visit the nearest store that we have a tie up with, and our representative will be happy to provide you the complete details. click here for the store list.

Who can apply for the Kotak Smart EMI Scheme?

Salaried and self-employed individuals

Age: 21 to 65 years

Should have at least one year of total work or business experience 

What is Kotak Debit Card EMI?

Debit Card EMI is the program offering EMI schemes to Kotak Bank customers who shop with their Debit Cards. Bank provides pre-approved limits to customers based on their relationship with the Bank and based on the Bank’s credit policies. Customers who enjoy pre-approved limit from the Bank can avail No Cost EMI and regular EMI by transacting with their Kotak bank Debit Card at selected stores.

Where can I shop and avail Debit Card EMI (DC EMI)?

The program is available across 27,000 merchant outlets / stores including all major retail chains like Vijay Sales, Croma, Reliance Digital, Sargam Electronics, Sathya Agencies, Vasanth & Co., Tirupati Electronics, Bajaj Electronics and many more. You can shop for your favourite home appliances, electronics, mobile phones, laptops, etc. using the DC EMI program. Click here for the list of stores where you can avail DC EMI using your Kotak Debit Card.

How to check eligibility of my Debit Card?

You can check your eligible limit by sending DCEMI<space><Last 4 digits of Kotak Debit Card Number> to 5676788 from your mobile number registered with the bank.

How to check EMI status of DC EMI?

The sanction letter is sent to your registered Email ID available with the bank in which you can check your EMI details and to know current status, you can call on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays or write an email to cdservice@kotak.com.

How to foreclose / facilitate early repayment of my loan?

You can foreclose the loan by visiting the nearest Kotak Bank branch and placing a request for foreclosing the loan by citing the APAC ID (loan account number) to the branch representatives. Bank may charge early loan closure charges.

How to cancel the loan, though the product is not booked and loan sanction letter has been released?

Cancellation of order / loan are not permitted under Kotak DC EMI.

Will No Cost EMI be applicable in case replacement of defective products?

If a concerned dealer replaces a defective product, your loan booked with Kotak Bank still continues with the original scheme under which it was booked. Hence, if the loan is originally booked under No Cost EMI scheme, the same would continue upon replacement also.

When will I be charged? How to change my DC EMI due date?

First EMI will be deducted as per the schedule shared in the loan sanction letter from your account linked to the debit Card used for doing the DCEMI transaction. Currently there is no option available to change the EMI due date. Payment due dates are  as per the schedule shared in your loan sanction letter.

Will my account get debited in case for DC EMI transaction?

Your bank account will be debited for only Re.1/- for authorization. The loan amount, however, will be charged from the pre-approved limit assigned to you by Kotak Bank. You need to pay monthly installments to Kotak Bank as per the EMI tenure selected by you.

I have ₹ 10,000 in my bank account and want to buy a product worth ₹ 20,000. Can I use ₹ 10,000 from my bank account and avail the remaining ₹ 10,000 through DC EMI?

You will need to make the complete payment of ₹ 20,000 using DC EMI option. Partial down payment is not permitted in DCEMI.

How will I pay my EMI to the Bank?

Kotak Bank will auto-enable standing instruction on your primary savings/current account to enable debit of monthly instalments. Please ensure to maintain sufficient balance in your account to cover for EMI. 

I have seen No Cost EMI being offered in some merchant outlets / stores. Will I also get No cost EMI if I pay using DC EMI?

No cost EMI is available on select product / brands / merchant outlets / stores. To check if your product / store offers No cost EMI, please inquire at the payment counter or with the Kotak Bank representatives stationed at the stores for available EMI schemes.

What charges do I need to pay for availing DC EMI?

For most of the products that we offer EMIs for, there are minimal processing fees varying from Rs. 99 to Rs. 2,999.

What is the minimum purchase amount for availing DC EMI?

Any purchases above ₹ 5,000/- can be made using DC EMI.

What are the EMI tenures available for DC EMI?

Currently Kotak DC EMI is available with 3/6/9/12 month EMI tenures.

Are all EMI schemes No cost EMI schemes?

All schemes with Kotak DC EMI are not No Cost EMI schemes. No Cost EMI schemes are applicable on selected products / brands / stores. However, you can also choose to purchase the product of your choice under normal EMI schemes where interest will be levied on the EMI. You can check the scheme details at the respective stores either from the store representatives or from the Kotak representative present at the stores.

General Framework for operating DCEMI

The following terms and conditions apply to no cost equated monthly installment ("EMI") transactions made using a debit Card issued by Kotak Bank providing an EMI facility to its debit Card holders and using EMI facility as a payment option ("No Cost EMI").

  • The No Cost EMI facility is being offered to the customers who make a purchase transaction at selected merchant outlets (stores) using a Debit Card issued by Kotak Bank, providing an EMI facility to its debit Card holders, using such EMI facility; if available in the selected stores.
  • The No Cost EMI facility is funded by participating brands (as the case may be) and is made available on select products, as determined from time to time by such brands.
  • Using the No Cost EMI payment option, the customers who undertake the purchase transactions at the designated stores, will only pay EMI amounts along with the interest applicable for the EMI tenures selected by the customers while making the purchase.
  • DC EMI will be applicable only on the eligible products. If all products in the customer’s shopping cart are eligible for No Cost EMI, customer will be able to avail the offer on all products. Else, customer will need to make separate billing for the No Cost EMI eligible and ineligible products.
  • The customers may avail the No Cost EMI facility, provided that:
    • The order is not cancelled by the customer or the merchant; or
    • The product is not returned / exchanged by the customer
  • Once a product is purchased under the Kotak DC EMI scheme from any of the selected merchant outlets, no cancellation of the order / loan will be permitted. However, the customer, may wish to foreclose the loan directly by visiting the nearest Kotak Bank branch.
  • The EMI facility is made available to the customers by and at the sole discretion of Kotak Mahindra Bank.

 

What is Smart EMI Card?

Smart EMI Card is the program offering payment on EMI for all approved transactions. Every transaction done with the Smart EMI Card automatically gets converted to EMIs at the choice of the customer. 

How can I request for a Smart EMI Card?

Currently, you can visit the nearest partner retail outlet and request for a Smart EMI Card while making a purchase with Kotak Smart EMI. 

I am not a Kotak customer and I am not planning to make a purchase from retail outlets. Can I still request for a Smart EMI Card?

We will be soon coming up with more avenues for you to request for a Smart EMI Card without being a Kotak customer. In the meantime, you can try any of the above-mentioned ways. 

How much will I be charged for the Smart EMI Card?

The Smart EMI Card has an issuance fee of ₹ 499 and an annual fee of ₹ 299.

What is the minimum purchase value for using Smart EMI Card?

With the Smart EMI Card you can convert transactions as low as INR 5000 into EMI.

What is the difference between Debit Card EMI and Smart EMI Card?

With Debit Card EMI you need to be a Kotak Mahindra Bank customer whereas you don’t need to have a Kotak Mahindra Bank account to use the Smart EMI Card. 

Frequently Asked Questions

icon

How do I apply for a new Smart EMI Scheme?

For this, you can visit the nearest store where Kotak  Smart EMI has a tie up.  Click here to find the store near you.

How do I change my EMI date?

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.

What is my EMI date?

Your next EMI is as per the schedule shared in your loan sanction letter.

How can I view my EMI status?

You can view your EMI status through Kotak Mahindra Bank’s Net-banking. Please follow these steps:

  • Enter your CRN number and create a new password.
  • Login to net-banking with your new password
  • Enter the dynamic access code (sent to your registered mobile number)
  • Check ‘overview status’.

Where can I view my loan documents?

The sanction letter is sent to your registered Email ID available with the bank (as mentioned by you in the application form).

What are the features of Smart EMI Scheme?

  • Instant loan approvals of up to Rs. 15 lakhs
  • Zero down payments or up to 30% of the product price as down-payment
  • Processing fee ranges from ₹99 to ₹2,999 on select products, merchants, payment mode is applicable.
  • No Cost EMI*

For more details you can visit the nearest store click here for list of stores.

How and when can I foreclose my Smart EMI Scheme?

It’s mandatory to pay first 3 EMIs then after, please write a mail to cdservice@kotak.com for foreclosing the Smart EMI scheme. You will receive a mail from us with all the details.

How do I get the NOC letter of my loan completion?

The NOC letter will be sent to you registered Email ID within 7 working days after the completion of the loan. If in case you have not received the NOC, please write to us at cdservice@kotak.com or call us on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays.

What is CIBIL score, and why is it required?

Your CIBIL score is your credit score. It reflects how well or how poorly you have dealt with loans or credit cards in the past. It is also known as ‘CIBIL TransUnion Score’. The higher your CIBIL score, the better your chances of getting a loan approved from the bank. A higher CIBIL score increases your chances of a loan approval from the lender or a bank.

How do you get my consent for CIBIL information report?

We have taken your consent through an OTP that you gave us when you have filled your loan application at the store.

How do I get my foreclosure letter?

To make early repayments / foreclosure, you can write to us on cdservice@kotak.com or call us on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays.

Do I need to pay anything additional to avail a loan from Kotak Smart EMI?

This depends on the product and the merchant. Certain products could attract processing fees from certain merchants. Rs.100 is payable towards stamp duties and allied services.

What documents will I have to submit for the approval of my Smart EMI loan?

Basic KYC documents including:

 

  • Pan Card
  • Identity proof
  • OVD (Officially valid document) for address proof
  • 1 post-dated cheque

Could my loan application be rejected? If so, what should I do?

Approval/rejection of financing is solely at the discretion of Kotak Mahindra Bank Ltd. If your loan application is not approved, you can re-apply after 90 days.

Do I have to make a down payment for availing the Smart EMI Scheme?

A down payment would depend on the scheme that is selected. Schemes get reviewed regularly and may change without any prior notice. Our representatives available at the respective stores will inform you.

When do I pay my EMI? How would I get to know about the same?

EMI is payable on the due date of every month (as per the schedule shared in the loan sanction letter). If your payment is not deducted from your bank than you will receive text message for the same and the payment can be made at your nearest Kotak Mahindra Bank Ltd branch or through online payment (IFSC Code: KKBK0000631, Account Number: CFB (Consumer Finance Business) Loan Number).

Will I get any notification or reminder before the EMI is deducted from my bank account?

Yes, through a text message on your registered mobile number.

What is the process to cancel the Smart EMI Scheme?

There is no process for cancelling the loan. There is a process to foreclose the loan. For more details please call us on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays OR write to us on cdservice@kotak.com.

What if I want to change my repayment mode (banking details)?

In case you need to change your EMI repayment account please visit the nearest RA (Retail Assets) branch click here for the branch list Or call us on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays.

How do I update / change my ECS mandate / repayment mode with Kotak Smart EMI?

In case you need to make changes to your banking details, please visit the nearest RA (Retail Assets) branch click here for the list and submit a NACH (National Automated Clearing House) mandate form + cancelled / 1 PDC (Post dated cheque) cheque of the new account bank from where you want your future EMI to be debited.

How can I make my overdue payment?

You can make your overdue payments through any Kotak Mahindra Bank branch OR through online payment (IFSC Code: KKBK0000631, Account Number: CFB (Smart EMI Business) Loan Number).

How can I make a part prepayment?

You can make your overdue payments through any Kotak Mahindra Bank branch OR through online payment (IFSC Code: KKBK0000631, Account Number: CFB (Consumer Finance Business) Loan Number).

I have made my overdue payment at the nearest branch, but I am still receiving collection calls. What should I do?

Please send your statement details to cdservice@kotak.com. We will process your request after checking your payment details. OR call us on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays.

Where do I enquire about my loan details or issues with the transaction?

Please send a mail to cdservice@kotak.com OR call on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays.

How can I check the statement of my paid EMIs?

You can view your total EMI status through Kotak Mahindra Bank’s Net-banking. Please follow these steps:

  • Enter your CRN number and create a new password
  • Login to net-banking with your new password
  • Enter the dynamic access code (sent to your registered mobile number)
  • Check ‘overview status’

How will I receive a refund, if my EMI amount is debited from my account more than once in the same month?

48 hours after the payment was deducted, please log a request to adjust the ‘EMI for next due’ or ‘for getting a refund into your account’ and write to customer care on cdservice@kotak.com OR call us on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays.

For which products can I avail of the Smart EMI Scheme?

You can buy a wide variety of consumer goods under Kotak Mahindra Bank’s Smart EMI. For example: air conditioners, televisions, Refrigerators, washing machines, microwaves, cameras, laptops, mobiles, tablets, kitchen appliances, and audio devices. 

If you would like to have more information about the products that you can buy with the bank’s consumer finance, please visit the nearest store that we have a tie up with, and our representative will be happy to provide you the complete details. click here for the store list.

Who can apply for the Kotak Smart EMI Scheme?

Salaried and self-employed individuals

Age: 21 to 65 years

Should have at least one year of total work or business experience 

What is Kotak Debit Card EMI?

Debit Card EMI is the program offering EMI schemes to Kotak Bank customers who shop with their Debit Cards. Bank provides pre-approved limits to customers based on their relationship with the Bank and based on the Bank’s credit policies. Customers who enjoy pre-approved limit from the Bank can avail No Cost EMI and regular EMI by transacting with their Kotak bank Debit Card at selected stores.

Where can I shop and avail Debit Card EMI (DC EMI)?

The program is available across 27,000 merchant outlets / stores including all major retail chains like Vijay Sales, Croma, Reliance Digital, Sargam Electronics, Sathya Agencies, Vasanth & Co., Tirupati Electronics, Bajaj Electronics and many more. You can shop for your favourite home appliances, electronics, mobile phones, laptops, etc. using the DC EMI program. Click here for the list of stores where you can avail DC EMI using your Kotak Debit Card.

How to check eligibility of my Debit Card?

You can check your eligible limit by sending DCEMI<space><Last 4 digits of Kotak Debit Card Number> to 5676788 from your mobile number registered with the bank.

How to check EMI status of DC EMI?

The sanction letter is sent to your registered Email ID available with the bank in which you can check your EMI details and to know current status, you can call on 1860 266 7777 (Local call rates apply) between 10:00 am to 7:00 pm from Monday to Saturday, excluding holidays or write an email to cdservice@kotak.com.

How to foreclose / facilitate early repayment of my loan?

You can foreclose the loan by visiting the nearest Kotak Bank branch and placing a request for foreclosing the loan by citing the APAC ID (loan account number) to the branch representatives. Bank may charge early loan closure charges.

How to cancel the loan, though the product is not booked and loan sanction letter has been released?

Cancellation of order / loan are not permitted under Kotak DC EMI.

Will No Cost EMI be applicable in case replacement of defective products?

If a concerned dealer replaces a defective product, your loan booked with Kotak Bank still continues with the original scheme under which it was booked. Hence, if the loan is originally booked under No Cost EMI scheme, the same would continue upon replacement also.

When will I be charged? How to change my DC EMI due date?

First EMI will be deducted as per the schedule shared in the loan sanction letter from your account linked to the debit Card used for doing the DCEMI transaction. Currently there is no option available to change the EMI due date. Payment due dates are  as per the schedule shared in your loan sanction letter.

Will my account get debited in case for DC EMI transaction?

Your bank account will be debited for only Re.1/- for authorization. The loan amount, however, will be charged from the pre-approved limit assigned to you by Kotak Bank. You need to pay monthly installments to Kotak Bank as per the EMI tenure selected by you.

I have ₹ 10,000 in my bank account and want to buy a product worth ₹ 20,000. Can I use ₹ 10,000 from my bank account and avail the remaining ₹ 10,000 through DC EMI?

You will need to make the complete payment of ₹ 20,000 using DC EMI option. Partial down payment is not permitted in DCEMI.

How will I pay my EMI to the Bank?

Kotak Bank will auto-enable standing instruction on your primary savings/current account to enable debit of monthly instalments. Please ensure to maintain sufficient balance in your account to cover for EMI. 

I have seen No Cost EMI being offered in some merchant outlets / stores. Will I also get No cost EMI if I pay using DC EMI?

No cost EMI is available on select product / brands / merchant outlets / stores. To check if your product / store offers No cost EMI, please inquire at the payment counter or with the Kotak Bank representatives stationed at the stores for available EMI schemes.

What charges do I need to pay for availing DC EMI?

For most of the products that we offer EMIs for, there are minimal processing fees varying from Rs. 99 to Rs. 2,999.

What is the minimum purchase amount for availing DC EMI?

Any purchases above ₹ 5,000/- can be made using DC EMI.

What are the EMI tenures available for DC EMI?

Currently Kotak DC EMI is available with 3/6/9/12 month EMI tenures.

Are all EMI schemes No cost EMI schemes?

All schemes with Kotak DC EMI are not No Cost EMI schemes. No Cost EMI schemes are applicable on selected products / brands / stores. However, you can also choose to purchase the product of your choice under normal EMI schemes where interest will be levied on the EMI. You can check the scheme details at the respective stores either from the store representatives or from the Kotak representative present at the stores.

General Framework for operating DCEMI

The following terms and conditions apply to no cost equated monthly installment ("EMI") transactions made using a debit Card issued by Kotak Bank providing an EMI facility to its debit Card holders and using EMI facility as a payment option ("No Cost EMI").

  • The No Cost EMI facility is being offered to the customers who make a purchase transaction at selected merchant outlets (stores) using a Debit Card issued by Kotak Bank, providing an EMI facility to its debit Card holders, using such EMI facility; if available in the selected stores.
  • The No Cost EMI facility is funded by participating brands (as the case may be) and is made available on select products, as determined from time to time by such brands.
  • Using the No Cost EMI payment option, the customers who undertake the purchase transactions at the designated stores, will only pay EMI amounts along with the interest applicable for the EMI tenures selected by the customers while making the purchase.
  • DC EMI will be applicable only on the eligible products. If all products in the customer’s shopping cart are eligible for No Cost EMI, customer will be able to avail the offer on all products. Else, customer will need to make separate billing for the No Cost EMI eligible and ineligible products.
  • The customers may avail the No Cost EMI facility, provided that:
    • The order is not cancelled by the customer or the merchant; or
    • The product is not returned / exchanged by the customer
  • Once a product is purchased under the Kotak DC EMI scheme from any of the selected merchant outlets, no cancellation of the order / loan will be permitted. However, the customer, may wish to foreclose the loan directly by visiting the nearest Kotak Bank branch.
  • The EMI facility is made available to the customers by and at the sole discretion of Kotak Mahindra Bank.

 

What is Smart EMI Card?

Smart EMI Card is the program offering payment on EMI for all approved transactions. Every transaction done with the Smart EMI Card automatically gets converted to EMIs at the choice of the customer. 

How can I request for a Smart EMI Card?

Currently, you can visit the nearest partner retail outlet and request for a Smart EMI Card while making a purchase with Kotak Smart EMI. 

I am not a Kotak customer and I am not planning to make a purchase from retail outlets. Can I still request for a Smart EMI Card?

We will be soon coming up with more avenues for you to request for a Smart EMI Card without being a Kotak customer. In the meantime, you can try any of the above-mentioned ways. 

How much will I be charged for the Smart EMI Card?

The Smart EMI Card has an issuance fee of ₹ 499 and an annual fee of ₹ 299.

What is the minimum purchase value for using Smart EMI Card?

With the Smart EMI Card you can convert transactions as low as INR 5000 into EMI.

What is the difference between Debit Card EMI and Smart EMI Card?

With Debit Card EMI you need to be a Kotak Mahindra Bank customer whereas you don’t need to have a Kotak Mahindra Bank account to use the Smart EMI Card. 

How do I change my EMI date?

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.

How will I repay my loan taken with the Smart EMI Card?

Repayments are easy with Kotak Smart EMI Card. If you have a Kotak Mahindra Bank account your EMI will be deducted from your primary Kotak Bank account.

If you are not a Kotak Bank customer, your EMI will be deducted from the account specified in the NACH form that you fill while requesting for the Smart EMI Card.

When will my EMI be due?

For every Transaction done with the Smart EMI Card, your EMI will be as per the schedule shared in the loan sanction letter

Where Can I Use my Smart EMI Card?

You can use your Smart EMI Card on any retail store that has a Pinelabs POS (Point of Sale) terminal. Just go to the cashier and ask them to make the payment under Kotak EMI. We will soon be live with many more terminals to make it easier for you to shop at your preferred choice of stores.

For online channels, you can add your Smart EMI Card on Amazon.in and shop to your hearts content. 

Will I get any notification or reminder before the EMI is deducted from my bank account?

Yes, through a text message on your registered mobile number.

How to check eligibility of my Smart EMI Card?

You can check your eligible limit by sending “CDL<space><Your PAN Number>” to 5676788 from your mobile number registered with the Bank. You can also send DCEMI<space><Last 4 digits of Kotak Debit Card Number> to 5676788 from your mobile number registered with the bank.

Are all EMI schemes No cost EMI schemes?

No, all schemes with Kotak Smart EMI Card are not No Cost EMI schemes. No Cost EMI schemes are applicable on selected products / brands / stores. However, you can also choose to purchase the product of your choice under normal EMI schemes where interest will be levied on the EMI. You can check the scheme details at the respective stores either from the store representatives or from the Kotak representative present at the stores.

Can I use the Smart EMI Card for full swipe purchases and cash withdrawal?

No, the Smart EMI Card can be used only for purchase on EMI with our partner merchants. Click here to see our partner merchant list pan India. The Smart EMI Card does not allow withdrawal of cash from any ATM. 

How do I inform the bank if I lose the Card and/or if I need a replacement Card?

For any Smart Card related queries/issues/suggestion/lost Card reporting/replacement/renewal etc., please contact our call centre 18602667777 (call charges as per network, applicable). You may also write to cdservice@kotak.com

Renewal of Cards will be managed at the bank’s end and new Cards will be despatched to customers’ communication address registered with the bank. Charges may be applicable. 

How do I check my pre-approved limit and do a transaction?

SMS CDL<space><Your PAN Number> OR DCEMI<space><Last 4 digits of Kotak Debit Card Number> to 5676788 to know your pre-approved limit

  • Visit the nearest store / Online merchant website and select the desired product to purchase
  • Ask for Kotak Smart EMI Card transaction and swipe your Smart EMI Card at the Point of Sale terminal / Select Kotak DC EMI option on payment checkout
  • Select the EMI tenure
  • Validate the payment using your Smart EMI Card PIN / OTP
  • Complete the transaction

CALL US:

Call 1860 266 7777 (Local call rates apply) between 10:00 AM to 7:00 PM from Monday to Saturday (excluding holidays).

WRITE TO US:

Be it an enquiry, feedback or a simple suggestion, write to us on cdservice@kotak.com


General Framework for operating Debit Card EMI (DC EMI)
 


The following terms and conditions apply to no cost equated monthly installment ("EMI") transactions made using a debit card issued by Kotak Bank providing an EMI facility to its debit card holders and using EMI facility as a payment option ("No Cost EMI").
 

  • The No Cost EMI facility is being offered to the customers who make a purchase transaction at selected merchant outlets (stores) using a Debit Card issued by Kotak Bank, providing an EMI facility to its debit card holders, using such EMI facility; if available in the selected stores.
  • The No Cost EMI facility is funded by participating brands (as the case may be) and is made available on select products, as determined from time to time by such brands.
  • Using the No Cost EMI payment option, the customers who undertake the purchase transactions at the designated stores, will only pay EMI amounts along with the interest applicable for the EMI tenures selected by the customers while making the purchase.
  • DC EMI will be applicable only on the eligible products. If all products in the customer’s shopping cart are eligible for No Cost EMI, customer will be able to avail the offer on all products. Else, customer will need to make separate billing for the No Cost EMI eligible and ineligible products.
  • The customers may avail the No Cost EMI facility, provided that:
    • The order is not cancelled by the customer or the merchant; or
    • The product is not returned / exchanged by the customer
  • Once a product is purchased under the Kotak DC EMI scheme from any of the selected merchant outlets, no cancellation of the order / loan will be permitted. However, the customer, may wish to foreclose the loan directly by visiting the nearest Kotak Bank branch.
  • The EMI facility is made available to the customers by and at the sole discretion of Kotak Mahindra Bank.