Kotak811 super.money Credit Card

The Kotak811 super.money Credit Card offers several benefits such as:

Cashback Benefits

Cardholders can earn cashback on various types of transactions made using the credit card. Cashback is typically available on transactions with a minimum value of Rs.100, and a maximum cashback limit of Rs.500 per billing cycle may apply depending on the category.

• 1% cashback on UPI transactions made through the super.money app
• 2% cashback on purchases made on Flipkart
• 5% cashback on Myntra purchases
• 1% cashback on other eligible non-UPI transactions

Credit Building Benefits

Because the card is issued against a fixed deposit, it is suitable for individuals who may not qualify for unsecured credit cards. Timely bill payments can help improve the cardholder’s credit history and increase eligibility for other credit products in the future.

Key advantages include:

• Opportunity to build or improve a credit score
• Easier approval compared with traditional credit cards
• Ability to start with a low minimum deposit

Instant Virtual Credit Card

Once the fixed deposit is booked and the application process is completed, customers can receive an instant virtual credit card. This allows them to start using the card for online payments immediately without waiting for a physical card.

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Features of Kotak811 super.money Credit Card 

The Kotak811 super.money Credit Card includes several features designed for customers who want flexible credit access and cashback rewards. They are as follows: 

Feature Category	Feature	Details
Credit Limit	FD-linked credit limit	The credit limit is generally up to 90% of the fixed deposit amount, allowing customers to control their credit limit based on their deposit value.
Cashback Rewards	Cashback on partner platforms	Cardholders can earn cashback on transactions made through Myntra, Flipkart, and other eligible merchants.
UPI Payments	RuPay UPI compatibility	The card supports UPI payments through the RuPay network, allowing users to make everyday payments directly from their credit card.
Credit Score Improvement	Secured credit card	Responsible use and timely payments can help cardholders build or improve their CIBIL score.
Instant Issuance	Virtual card availability	Customers receive a virtual credit card instantly once the FD is created and the application is completed.

Fees and Charges of Kotak811 super.money Credit Card 

The Kotak811 super.money Credit Card is designed to be affordable and accessible to a wide range of customers. The fees and charges associated with the card are: 

Fee Type	Amount
Joining Fee	Rs.249 (for FD less than Rs.5,000 if a physical card is requested)
Annual Fee	Nil
Minimum FD Requirement	Rs.1,000
Finance Charges	3.50% per month (42% annually)
Cash Withdrawal	Not permitted

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Eligibility Criteria of Kotak811 super.money Credit Card

To apply for the Kotak811 super.money Credit Card, customers must meet the following eligibility conditions:

• Minimum age of 18 years
• Must be an Indian resident
• Must hold or open a Kotak811 Savings Account
• Must create a fixed deposit starting from Rs.1,000
• Must complete KYC verification as per RBI guidelines

How to Apply for Kotak811 super.money Credit Card

Customers can apply for the Kotak811 super.money Credit Card through the Kotak811 digital platform by following the instructions given below:

• Step 1: Download the Kotak811 or super.money mobile app.
• Step 2: Open or log in to your Kotak811 savings account.
• Step 3: Create a fixed deposit starting from Rs.1,000.
• Step 4: Apply for the Kotak811 super.money Credit Card.
• Step 5: Complete the KYC verification process.
• Step 6: Receive the instant virtual credit card once the FD is successfully created.

Apply For Credit Card on BankBazaar

Credit cards make payments easy for all expenses online and offline while offering various benefits

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FAQs on Kotak811 super.money Credit Card

1. What does the Kotak811 super.money credit card offer?

   The Kotak811 super.money credit card is a secured credit card that allows cardholders to spend against a fixed deposit with Kotak Mahindra Bank and earn interest on the deposit while using the card, which enables cardholders to build credit or manage their spending safely. 

2. How much do I need to make a fixed deposit in order to get Kotak811 super.money credit card?

   Open a fixed deposit with a minimum deposit of Rs.1,000 to receive your new credit card. Your maximum credit limit generally ranges from 75-90% of the total amount of your FD and is dependent on how much you choose to invest in the FD. 

3. What is my maximum credit limit on the Kotak811 super.money credit card?

   Your maximum credit limit on the Kotak811 super.money credit card is equal to 90% of the corresponding fixed deposit you opened with the bank. Therefore, if your fixed deposit is Rs.10,000, your credit limit on the credit card will be Rs.9,000, allowing you to spend money while continuing to earn interest on your deposit. 

4. Is there an annual fee for the Kotak811 super.money credit card?

   There will be no annual fee for your Kotak811 super.money Credit Card as long as you continue to use your card. However, if the amount of your fixed deposit is considered small or the customer requests a physical version of the card rather than its usage, Kotak may charge a small one-time fee. 

5. Is it possible to make UPI payments using Kotak811 super.money credit card?

   Yes, the Kotak811 super.money credit card will support UPI transactions through RuPay. This will allow you to purchase everyday items such as groceries or pay utility bills and make purchases online whilst earning cashback on your eligible purchases. 

6. What type of cashback can I earn from Kotak811 super.money credit card?

   Kotak811 super.money cardholders have access to cashback offers across a number of platforms: for example, 1% cashback for UPI transactions, 2% cashback on Flipkart purchases, and up to 5% cashback for Myntra purchases.  

7. Will my fixed deposit continue to earn interest?

   Yes, your FD will continue earning interest at the prescribed rate of return while you use the credit limit on your card (you can use your FD to guarantee the credit limit). Thus, by securing a credit line against your deposit, you can borrow access to credit but not lose any returns on that FD. 

8. Can I raise my credit limit on my Kotak811 super.money credit card?

   Yes, you can raise your credit limit by making more deposits into the FD. That will increase your FD size and subsequently your credit limit. Therefore, you will have access to more credit and still be able to secure its use by backing it against the FD. 

9. If I do not submit my Kotak811 super.money credit card payment on time, what will happen?

   If you fail to make a payment, your account may incur additional interest and possibly an outstanding balance/fee according to your card agreement. If you continue to miss payments, the card issuer has the right to use your fixed deposit (the one securing your credit card) to cover the amount owed. Therefore, it is important to make payments on time so that you do not incur additional fees, interests, etc., as outlined above. 

10. Can I cancel my Kotak811 super.money credit card at any time?

    You may close your Kotak811 super.money credit card account after all outstanding balances have been satisfied. Once your account has been closed, you may either withdraw the fixed deposit you used to secure your credit card or leave it in the account.