Balance EMI FACILITY

 The Primary Cardholder can convert eligible statement balance which is equal to or above 2,500
into EMIs for a tenure of 3 / 6 / 9 / 12 / 24 /36 / 48 months within 15 days of the bill generation
date, either through his Mobile Banking, Net Banking, and SMS/Email link or by calling the
Customer Experience Centre.
 The final approval of conversion of a balance to the EMI Facility is subject to the discretion of
the Bank.
 All EMI requests (including transactions done on Add-On Card) must be made by the Primary
Cardholder only.
 If the Cardholder's Credit Card balance is revolving at the time of request for transfer of
outstanding to EMI, he will continue to be charged the applicable Credit Card charges on his
revolving balance till the time the transfer to EMI actually takes place. For details of the
applicable interest rates on the different variants of the Cards, please refer Schedule of Charges,
available at www.kotak.com.
 After converting the balance into EMI, the Minimum Amount Due (MAD) needs to be paid on
the due date.
 EMI schedule will begin from the date of conversion of balance and will continue over the EMI
tenure. First EMI would be billed as part of immediate Card Account Statement subsequent to
conversion of statement balance to EMI. The interest component for the first EMI shall be for 30
days irrespective of the EMI booking date/balance conversion date. For ex. If the balance
conversion to EMI is done on 5th of Jan’22 for INR 10,000 at 14% for 6 month & the billing date
is 20th Jan’22. EMI to be charged will be INR 1735.38 with interest component of INR 116.67
(interest for 30 days).
 The Cardholder may make the request for cancellation of EMI by calling up the Bank's Customer
Contact Centre before the payment due date of the first EMI monthly instalment. On receipt of
this request, the outstanding EMI principal amount is moved back to Cardholder's retail balance
and Cardholder would be required to make the payment of MAD to not become delinquent.
 The EMI Facility will be subject to transaction / processing fee as may be specified by the Bank
from time to time. The transaction / processing fee shall be debited from the Credit Card Account
of the Cardholder and shall form part of the minimum amount due appearing in the monthly
statement.
 Government taxes (including service tax, GST, any/all applicable taxes) would be charged on
interest, fees and other charges levied on your Credit card at the rates determined by Government
of India from time to time. Same shall form part of the minimum amount due appearing in the
monthly statement.
 No request will be entertained to change/modify the EMI facility, once opted for by the
Cardholder.
 The Bank reserves the right to change the tenure and interest rate during the term of the EMI
Facility with due intimation to the Cardholder.
 Monthly instalment is calculated as (Principal Amount + Interest charge if any)/Tenure. The
Bank's calculation of the monthly instalment amount, which is reflected in the monthly Card
Account Statement, is final. Under no circumstance can the computation of the monthly
instalment amount be challenged /questioned by the Cardholder.
 On availing the EMI Facility the Credit Limit on the Credit Card will be blocked for the amount
which gets converted to EMI at the time the Cardholder's request is processed. The Credit Limit
will be released as and when the instalment amount is billed and paid for in subsequent months.
 100% of the processing fees and EMI amount under the EMI Facility will be included as part of
the minimum amount due appearing on the Card Account Statement.
 Non-payment or under payment of minimum amount due would attract normal late payment fees
and an applicable interest rate on the unpaid billed EMI under the EMI Facility. For details of the
 applicable interest rates on the different variants of the Cards, please refer Schedule of Charges,
available at www.kotak.com.
 The EMI Facility will be cancelled / terminated when the Credit Card becomes delinquent or
blocked before all the instalments have been charged. The outstanding principal amount will be
moved back to the Cardholder's retail balance and would call for interest rate to be charged on the
unpaid billed principal & unpaid billed monthly instalments.
 The amounts converted to avail the EMI Facility will not earn any reward points.
 On availing the EMI Facility the reward points if any that have been accrued on the original
transaction shall be reversed
 Further payment of the total loan amounts under the EMI Facility shall not lead to an automatic
closure of the said EMI Facility. Customer needs to call the 24 hour Kotak Bank Credit card
customer service for any foreclosure. The Bank reserves the right to revise the prepayment
charges at its discretion.
 The Bank reserves the right at any time, without previous notice, to add, modify or amend any of
these terms and conditions or to withdraw the EMI Facility altogether.
 In the event the Credit Card is closed prior to all the instalments being charged, the outstanding
availed under the EMI Facility shall be debited to the Credit Card Account as one consolidated
amount.
 Delay in the payment of any instalments on their respective due dates shall attract the usual
Credit Card late payment charge and interest on the unpaid instalment. It is hereby clarified that
in the event, the Cardholder does not pay or delays in payment of the outstanding's on his Card,
interest and all such other charges as applicable shall be levied on the Card including but not
limited to the EMI under the EMI Facility due for that month. The aforesaid is without prejudice
to the Bank's right to discontinue the EMI Facility and demand immediate repayment of the entire
balance outstanding.
 Any payment made into the Card Account over and above the EMI under the EMI Facility shall
not be deemed to be payment towards the EMI Facility and the excess amount shall be
apportioned as follows: all, taxes, fees and other charges, interest charges, EMIs, cash advances,
purchases and balance transfer in that order. Payments made towards the Card outstanding are
acknowledged in subsequent statements. All payments are to be made in Indian Rupees only. Any
excess payments would be adjusted towards any outstanding EMI / Loan or BT in that order.

Fees & Charges

 A one-time transaction fee of up to 3.5% of conversion amount shall be charged for sanction of
every transaction to EMI. This amount shall be billed to the monthly card statement as a part of
the minimum amount due in the month of first initial interest amount billing. The exact
transaction/processing fee applicable will be mentioned upfront to the Cardholder at the time of
availing the EMI facility
 The rate of interest on the conversion amount availed will be between 14% to 22% per annum on
reducing balance. The exact interest applicable will be mentioned upfront to the Cardholder at the
time of availing the loan
 Applicable taxes shall be levied on fee & interest and shall form part of minimum amount due.

Illustrative example for computation of EMI amount