# Kotak Credit Card EMI Calculator

Loan Amount

Interest rate

%

1%

15%

Loan Duration

Yrs

1 Yr

30 Yrs

EMI

0

Principal Amount

Interest

Total Payable

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## What is the Kotak Credit Card EMI Calculator?

The online Kotak Credit Card EMI calculator is a tool that helps compute the EMI you need to pay for your Kotak bank credit card dues. It helps you determine the total EMI amount, the total payable amount, the total interest amount, and the principal amount.

Credit cards are beneficial tools, offering a wide range of advantages. They offer convenience, allowing you to purchase online and in-store without carrying cash. It can help you build a credit history, provide a safety net for emergencies, and offer rewards and benefits like cashback, travel perks, and purchase protection.

To manage your credit card expenses in a better way, you can convert your outstanding bill or purchases to EMIs. This makes it easier to repay larger amounts and avoid penalties. However, before committing to that, you would need to calculate how much you need to pay monthly and if that is affordable. You can use a credit card EMI calculator to calculate the EMI easily.

## How Does the Kotak Credit Credit Card EMI Calculator Work?

A Kotak credit card EMI calculator uses a mathematical formula to determine the monthly instalment amount. You must input the loan amount, interest rate, and tenure into the calculator; the calculator uses these inputs to accurately calculate the EMI and interest. This enables you to make informed decisions regarding credit card loans.

## What is the Kotak Credit Card EMI Calculator Formula?

Here is the Kotak credit card EMI calculator formula:

EMI = [P x R x (1+R)^N]/[(1+R)^N - 1]

Where,

• P = Principal amount that you borrowed

• R = Rate of interest

• N = Duration of the loan

## How to Use the Kotak Credit Card EMI Calculator?

Launch the Kotak credit card EMI calculator on Angel One website. Then input the following details:

• Loan amount – The principal amount you borrowed from the bank
• Interest rate – The interest rate can be either fixed or floating
• Loan tenure – This is the time over which you choose to repay the loan

The Kotak credit card EMI calculator displays your EMI, the total interest, and the amount you’ll pay across the tenure.

To better understand the concept, Let us take a look at an example:

Suppose you want to use your credit card to purchase a Macbook worth Rs. 1,29,000, and your credit card charges 6.5% as interest. You wish to pay back the loan in a year.

Then,
Principal amount = Rs. 1,29,000
EMI Amount = Rs. 11,132
Total Interest = Rs 4,587
The total payable amount is Rs. 1,33,587

## Benefits of Using Online Kotak Credit Card EMI Calculator

There are several benefits of using a credit card. Some of the benefits are mentioned below:

• Accuracy
The online Kotak credit card EMI calculator ensures accurate calculations, eliminating the risk of human error in manual calculations.

• Time-saving
The Kotak credit card EMI calculator saves you time by computing the monthly payment amount, eliminating the need for manual calculations and allowing for efficient financial planning.

• Flexibility
The Kotak credit card EMI calculator offers flexibility by allowing you to experiment with different loan amounts, interest rates, and tenures. By adjusting these variables, you can find the most suitable payment plan that aligns with your financial goals and helps you manage your budget effectively.

• Financial planning
The Kotak credit card EMI calculator helps users plan their finances effectively by clearly understanding the monthly payment amount. This allows for better budgeting and managing of cash flow.

• Comparison
You can compare different scenarios by changing the loan variables, allowing them to make informed decisions about loan options and choose the most affordable plan.

## Types of Credit Cards Offered by Kotak Bank

Different types of credit cards offered by Kotak Bank are:

Basic Credit card
Your credit limit is decided based on your income. The Best Price Credit Card has no initiation or yearly fees.

Secured Credit Card
A secured credit card is an option for applicants with bad credit histories. A deposit of the amount equal to your credit card's credit limit is required.

No Annual Fee Credit Card
You won't be required to pay a charge to the bank when applying for a credit card with no annual fee

Low-interest Credit Card
You can get a credit card with a low-interest rate compared to a regular credit card.

Balance Transfer Credit Card
If you have credit card balances with high-interest rates and unpaid balances, apply for a balance transfer credit card.

Reward Credit Card
It is a credit card that offers reward points for every rupee that you spend with the credit card.

Cashback Credit Card
When you use your credit card to purchase, you can get cashback equal to a percentage of the total cost.

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## FAQs

What is the Kotak credit card EMI calculator?

The Kotak credit card EMI calculator is a tool that helps calculate the EMI payable for a purchase made on a credit card. It considers the principal amount, interest rate, and tenure to determine the monthly repayment amount.

How to use the online Kotak credit card EMI calculator?

To use an online Kotak credit card EMI calculator, visit the Angel One website and enter the loan amount, interest rate, and tenure. The calculator will display the monthly instalment amount and interest rate.

Is the Kotak credit card EMI calculator free to use?

Yes, the Kotak credit card EMI calculator is free to use. The calculator helps you figure out your monthly instalments. Accessing the calculator page on the Angel One website requires no payments or subscriptions.

How much can be the minimum tenure of the Kotak credit card EMI?

The minimum tenure for a credit card EMI can vary depending on the issuer's terms. It typically ranges from 3 to 6 months.

What is the interest rate on Kotak credit card EMI?

The interest rate for Kotak credit cards depends on multiple factors like income level, credit history, relationship with the bank and repayment tenure. It is also subject to change.

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