Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Kotak Mahindra Privy League Signature Credit Card (Insignia)

    Exclusive for the Insignia customers, the Privy League Signature Credit Card (Insignia) is packed with a bunch of attractive features and lifestyle benefits. The number of discounts and offers that this card provides is across a vast range of categories, ranging from railway tickets to fuel surcharge. From great reward points redemption options to new age features like the Visa payWav, it is certainly one of the better options to consider if you are looking for a new credit card.

    Features And Benefits Of Kotak Mahindra Privy League Signature Credit Card (Insignia)

    Priority Pass Membership for access to airport lounges: The complimentary membership offers you 4 complimentary visits and VIP access to over 1000 lounges in airports of over 100 countries. You would also enjoy a relaxed ambience, access to free internet, and complimentary refreshments.

    Complimentary movie tickets: Spend Rs.1000 every month using your Kotak Mahindra Insignia Privy League Signature Credit Card and you would be given 4 complimentary PVR tickets for that particular quarter. For example, if you spend Rs.1000 in the months of July, August, and September, you will be given PVR tickets in October.

    Offers on fuel: Enjoy fuel surcharge waiver of 1% (maximum of Rs.300 per billing cycle) across all petrol pumps in the country. To be eligible for this offer, the transaction should be between Rs.400 and Rs.4000.

    Concierge services: Avail the services of a concierge that include a host of benefits such as flight ticketing assistance, referral assistance, fitness centre and spa information, ticket bookings for your favourite events and shows, and hotel reservations.

    Total protection: You will receive coverage of up to Rs.2,50,000 per annum against unauthorized transactions. These transactions are covered up to 48 hours prior to you reporting the loss to the bank.

    Reward points

    • You get 5X reward points for every Rs.100 that you spend on special categories like consumer durables, departmental stores, apparels, grocery, and multi-brand online.
    • On select travel categories like travel agencies, hotels, airlines, and international spends, you earn 5X reward points.
    • For all other retail spends, you earn 2X points.
    • Each reward point is equal to 25 paise.

    Redemption of reward points

    • To redeem your reward points, you have a host of rich options like mobile recharge, air tickets, over 10,000 merchandise, movie tickets, and air miles.
    • You will get a higher number of redemption options through ‘easyrewardz’ if you convert your reward points into ‘easypoints’.
    • There’s also the option on auto redemption where your account will be credited by Rs.100 every 3 months against every 400 reward points that you accumulate.

    Railway Surcharge Waiver: When you book any rail ticket through an Indian Railways booking counter or www.irctc.co.in, you will get a waiver of 1.8% to 2.5%. The maximum waiver every calendar year is Rs.500.

    Conversion to easy EMIs: Convert every purchase of above Rs.3000 to EMIs by availing various EMI options listed on www.privyleague.com/signature.

    Low interest rates: Enjoy an attractive monthly interest rate that is as low as 2.49%.

    Easy balance transfer: With a processing fee of just Rs.349 plus service tax for every Rs.10,000, you can transfer all the outstanding amount on your other credit cards to your Privy League VISA Signature Credit Card. You will also enjoy an interest-free period of 3 months.

    Priority assistance: Whenever you get any query regarding your Kotak Mahindra Insignia Privy League Signature Credit Card, just SMS ‘KPRIVY’ and the bank representatives would contact you within 30 minutes to assist you.

    Visa payWave facility

    Using this safe, secure, and fast way of payment, you can make transactions of up to Rs.2000 without entering your card PIN. Just wave the card on the reader and your payment is done, thus grossly reducing risks like loss of the card and credit card frauds. Just do the following

    • At the merchant point, check for Visa PayWave mark and also the contactless logo.
    • As the amount is entered into the terminal, the contactless reader will display it.
    • At a close range of less than 4cm from the spot of appearance of the contactless logo, tap your card over the POS.
    • The completion of the transaction will be indicated by a beep sound or four green indicator lights. Then a message will appear on screen suggesting that your transaction is complete.

    Milestone Program

    Apart from the usual reward points, you will also earn bonus reward points when you achieve the below criteria in an anniversary year

    • On spending Rs.3,00,000, you get 7000 bonus reward points.
    • On spending Rs.8,00,000, you get 30000 bonus reward points.
    • If your Privy League Signature Credit Card was issued before 1st April 2018, the milestone program for you will be from 1st April to 31st March every year.

    Kotak Mahindra Privy League Signature Credit Card (Insignia) Fees And Charges

    Type of fee Amount

    Joining fee

    NIL

    Annual fee

    Rs.2,500

    Add-on card fee

    NIL

    Interest on outstanding balance

    2.49% (Annualized 29.88%)

    Late payment charges

    If the outstanding amount is


    Up to Rs.500 – Rs.100


    From Rs.501 to Rs.10,000 – Rs.500


    Above Rs.10,000 – Rs.700

    Cheque bounce charge

    Rs.500

    Over limit charge

    Rs.500

    Minimum amount due

    5% or 10% of TAD (decided by the bank)

    Cash advance charge

    Rs.300 (per Rs.10,000 or part thereof)

    ATM cash withdrawal charge

    Rs.300 (per Rs.10,000 or part thereof)

    Fund transfer charge

    Rs.300 (per Rs.10,000 or part thereof)

    Call a draft

    Rs.300 (per Rs.10,000 or part thereof)

    Foreign currency mark-up charge

    2%

    Fuel surcharge

    Waived (only for transactions between Rs.400 and Rs.4000). Maximum waiver per billing cycle is Rs.300.

    Railway booking surcharge

     Waived (Maximum waiver of Rs.500 per year)

    Charges for cash payment at bank

    Rs.100

    Charge slip request

    Waived

    Balance enquiry charges at other ATMs

    Waived

    Fee for web pay service

    Waived

    Charge for reissue or replacement of card (per issuance)

    Rs.100

    Machine surcharge at ATMs

    Waived

    Duplicate statement request

    Waived

    Fee for outstation cheque processing

    Waived

    Charges for procuring a copy of Credit Information Report (CIBIL)

    Rs.50

    Eligibility To Apply For The Kotak Mahindra Privy League Signature Credit Card (Insignia)

    If you meet all the below-listed conditions, you are eligible for the Privy League Signature Credit Card

    • You are a resident of India.
    • You have Privy league Insignia Banking Relationship.
    • You are in the 21 years - 65 years age bracket. For add-on cardholder, the minimum age is 18 years.
    • The location is any city among Bangalore, Hyderabad, Chennai, Ahmedabad, Kolkata, Chandigarh, Mumbai, Pune, and Delhi (including Noida and Gurgaon).

    How To Apply For Kotak Mahindra Privy League Signature Credit Card (Insignia)

    • If you are an existing Insignia customer, login to your Kotak Mahindra Bank account with your credentials and then you can apply for your Insignia credit card.
    • For details regarding applying for the Insignia Privy League Signature Credit Card, call the bank at 1860-266-2666. If you are an 811 customer, call 1860-266-0811.

    Faqs On The Kotak Mahindra Privy League Signature Credit Card (Insignia)

    1. Under the Milestone Program, when will the bonus reward points get credited on my Kotak Mahindra Insignia Privy League Signature Credit Card account?

      The bonus will be credited at the end of the anniversary period. However, if your Kotak Privy League Signature Credit Card (Insignia) was issued prior to 1 April 2018, the milestone program will be from 1st April to 31st March every year.

    2. Is there a waiver of the annual fee for the first year on my Insignia Privy League Signature Credit Card?

      Yes, your annual fee for the first year will be waived if you spend a minimum of Rs.5 lakh in the previous year or maintain Insignia Banking Relationship.

    3. Is there a waiver of the annual fee for the second year on my Insignia Privy League Signature Credit Card?

      To waive the annual fee for the second year too, spend a minimum of Rs.5 lakh in the previous year or maintain Insignia Banking Relationship.

      

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