Cardless EMI of up to Rs 5 lakh by Kotak Mahindra Bank; how to use, who can use, and more
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Kotak Mahindra Bank launches cardless EMI
Kotak Mahindra Bank has recently announced the launch of Cardless EMI (Equated Monthly Instalments) Payments on Amazon Pay. How will it work? Who can use it? How much credit can you get? All your questions are answered.
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Kotak Cardless EMI: What is it?
Kotak Mahindra Bank's Cardless EMI will provide its pre-approved customers easy access to instant consumer finance, the bank said. "Shoppers on Amazon. in can now convert their high-value purchase of Electronics, Furniture, Lifestyle, and Apparel into convenient monthly EMIs, without using a debit card, credit card, or even UPI," according to the Kotak Mahindra Bank
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Kotak Cardless EMI: Up to 5 lakh credit
Customers can use a credit limit of up to Rs 5 lakh. For payments, there will be flexible monthly instalments such as 3,6, 9, or 12 months.
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Kotak Cardless EMI: How to use it
Step 1: On the checkout page of the Amazon website or application, you need to choose Kotak Cardless EMI under EMI in the payment options. Then you need to select a tenure.
Step 2: Add your PAN details
Step 3: Authorise the transaction by entering the OTP
Step 2: Add your PAN details
Step 3: Authorise the transaction by entering the OTP
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Kotak Cardless EMI: Who can use it?
Do note that only pre-approved customers will be able to use this Kotak Cardless EMI feature. The credit limit will vary from one customer to another and at the sole discretion of the private sector bank.