Missed loan EMI? No Worries! Customers of Kotak Mahindra Bank can now use any payment app, such as Google Pay, PhonePe, or Paytm, to make a payment for a missed EMI or an overdue loan instalment.
This repayment option is available on all KMBL term loans, including Personal Loans, Home Loans, Consumer Durable Loans, Business Loans, Gold Loans, Loans Against Property, Commercial Vehicle Loans, Tractor Finance Loans, and Construction Equipment Loans, among others.
How to pay missed Loan EMI Via Google Pay, PhonePe, or Paytm?
1Step 1: Log in to the preferred payment app.
Step 2: Select 'Kotak Mahindra Bank Loan' under biller.
Step 3: Enters the Kotak Loan Account Number.
If there are any overdue EMI details, they will be displayed.
Step 4: Choose the amount to make payment
Step 5: Confirm
On a real-time basis, the amount paid is applied to the customer's loan account.
Customers can choose "Kotak Mahindra Bank Loan" as the biller name on their preferred payment app now that Kotak Loans is available on the Bharat Bill Payment System (BBPS) platform. Any EMIs that are past due will be displayed in detail, and the payment will be reflected in the customer's loan account in real-time.