There are four types of loans offered on credit cards.
- Convert to EMI
It allows you to convert your purchase of Rs 3000 and within 75% of the credit limit or above into easy EMI. Inform the bank within 15 days to avail this facility on any of your purchases whether an appliance or tickets.
- Convert Your Entire Card Outstanding to EMI
The bank allows you to convert all your entire outstanding bill amount on Kotak Mahindra Bank credit card into EMI. With zero percent foreclosure charges, you can repay the amount in easy tenure of 3, 6, 9, 12, 24, 36 and 48 months.
- Balance Transfer
If you have a 6 month old Kotak Mahindra credit card, you can make you of balance transfer. Here, you can transfer the outstanding balance of a minimum of Rs 2500 to 75% of the credit limit on other bank credit cards to Kotak Mahindra card. It has a processing fee of just Rs 349 per Rs 10000.
- Personal loan
Kotak Mahindra Bank credit card allows you to get instant cash at lower interest rate. It does not require any documentation or pre approval of request.