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

    The Kotak Mahindra Privy League Signature Credit Card (Optima & Prima) is a carefully curated card which has been exclusively designed only for Privy league customers. You would simply love to indulge in the long list of benefits and offers that it offers. From low interest rates to the luxury of availing the services of a concierge, you will have a great experience of using credit cards with the Privy League Signature Credit Card (Optima & Prima)

    Features And Benefits Of The Kotak Mahindra Privy League Signature Credit Card (Optima & Prima)

    Priority Pass Membership for access to airport lounges: With the complimentary Priority Pass Membership, you can enjoy VIP access to more than 1000 airport lounges in over 100 countries. To enhance your experience, you can also avail free internet, a relaxed ambience, and complimentary refreshments. These will ensure that your waits at airports become enjoyable.

    Free movies for you: If you are a movie buff then you will certainly cherish the 4 complimentary PVR tickets that you will receive every quarter. However, this only applies to the paid variant which comes with a fee of Rs.5,000.

    The reliable services of a concierge: Be it assistance regarding referral, hotel reservations, flight ticket bookings, spa and fitness centre information, or ticket bookings for special events or performances, you may entirely bank on the efficient services of a dedicated concierge.

    Efficient customer service: If you have any query or doubt regarding anything related to the credit card, simply SMS ‘KPRIVY’ and the bank would take the necessary steps within 30 minutes to help you out.

    Low interest rates: When you get an interest rate that is as low as 2.49%, that is a genuinely good deal.

    EMI options: To assist you in making expensive purchases, the Kotak Mahindra Privy League Signature Credit Card gives you the option of converting every purchase that is above Rs.3000 to easy EMIs.

    Balance transfer: Transfer all your outstanding balance that you owe to your other credit card accounts to your new Privy League VISA Signature Credit Card. You will be charged a processing fee of just Rs.349 and the service tax for per Rs.10,000. Moreover, you also get a 3-month interest-free period.

    Protection against card loss and fraud: Enjoy a coverage of up to Rs.2,50,000 per year against unauthorized transactions. This will cover transactions that have been done up to 7 days prior to you reporting the bank about the loss or fraud.

    Offer on rail tickets: Book a railway ticket on www.irctc.co.in or through any booking counter of the Indian Railways and enjoy railway surcharge waiver of 1.8% to 2.5%. However, the highest surcharge per year is Rs.500.

    Fuel Surcharge: Enjoy a fuel surcharge waiver of 1% at all petrol pumps across the country for transactions between Rs.400 and Rs.4000. The maximum waiver per year is Rs.4500.

    Reward Points

    • For every Rs.100 that you spend on special products like apparel, consumer durables, jewellery, restaurants, and departmental stores using your Kotak Mahindra Privy League Signature Credit Card, you earn 5X points. For every Rs.100 that you spend on other retail products, you earn 2X points.
    • You also earn 5X reward points on categories like restaurants, travel agencies, airlines, hotels, and international spends.
    • Each reward point is equal to 25 paise.

    Redemption Of Reward Points

    • You get a wide range of options to redeem your accumulated reward points. Some of these are mobile recharge, over 10,000 merchandise, air tickets, air miles, and air movie tickets.
    • When you convert your reward points to easypoints, you get a greater number of options through easyrewardz.
    • There’s also an option of auto redemption through which for every 400 reward points that you accumulate, Rs.100 is credited to your account. This is done every 3 months.
    • For every 800 reward points that you earn, you are eligible for a movie voucher worth Rs.200.
    • For every 200 reward points that you earn, you are eligible for 100 easy points.
    • For every 2,000 points that you earn, you are eligible for 500 air miles.

    Milestone Program: Under this program, you can earn bonus reward points in addition to the regular reward points.

    • You get 10,000 bonus reward points when you spend Rs.4,00,000 in an anniversary year using your Privy League Signature Credit Card.
    • You get 30,000 bonus reward points when you spend Rs.8,00,000 in an anniversary year using your Privy League Signature Credit Card.
    • You will receive the bonus reward points at the end of every anniversary period as per eligibility. 
    • If your Privy League Signature Credit Card was issued before 1st May 2018, the program period for you will be from 1st May to 30th April every year.
    • If your Privy League Signature Credit Card was issued post 1st May 2018, the program period for you will be from the issuance date to the same date of next year.

    Contactless feature: The Visa payWave feature of your Kotak Mahindra Privy League Signature Credit Card offers you a very safe and secure way of carrying out transactions at merchant points.

    • For transactions up to Rs.2000, you just need to wave the card and the payment will be processed without the need to enter your card PIN.
    • The POS just needs to have the Visa PayWave mark and the contactless logo. After the amount is entered into the terminal, you only need to tap the credit card over the POS within 4 cm of the point of appearance of the logo.
    • Since the card is not required to be swiped, the risks of loss of card or card frauds come down drastically.
    • The fraud chances are also cut down by the fact that the payments are processed through multiple layers of security.

    Kotak Mahindra Privy League Signature Credit Card (Optima & Prima) Fees And Charges

    Type of fee Amount

    Joining fee

    For paid variants – Rs.5000

    For free variants – NIL

    Annual fee

    For paid variants – Rs.5000

    For free variants – NIL

    Interest on outstanding balance

    2.49% (Annualized 29.88%)

    Fee for add-on cards

    NIL

    Over limit charge

    Rs.500

    Cheque bounce charge

    Rs.500

    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

    ATM cash withdrawal charge

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

    Call a draft

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

    Fund transfer charge

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

    Cash advance charge

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

    Minimum amount due

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

    Charges for cash payment at bank

    Rs.100

    Foreign currency mark-up charge

    3.5%

    Charge slip request

    Waived

    Fee for web pay service

    Waived

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

    Rs.50

    Duplicate statement request

    Waived

    Railway booking surcharge ( on transaction amount)

    Waived (up to Rs.500 in a calendar year)

    Machine surcharge at ATMs

    Waived

    Fee for outstation cheque processing

    Waived

    Replacement/ reissue card (per issuance)

    Rs.100

    Fuel surcharge

    Waived (up to Rs.4500 in a calendar year)

    Eligibility To Apply For The Kotak Mahindra Privy League Signature Credit Card (Optima & Prima)

    You are eligible to apply for the Privy League Signature Credit Card if you meet all the criteria listed below

    • You are an Indian resident.
    • You have Privy league Optima Banking Relationship
    • You fall in the age group of 21 years to 65 years. For add-on cardholders, the minimum age is 18 years.
    • At present, the card is available only in Pune, Mumbai, Hyderabad, Kolkata, Chennai, Delhi, Noida, Gurgaon, Ahmedabad, Chandigarh, and Bangalore.

    How To Apply For The Privy League Signature Credit Card

    • If you are an existing Privy league customer, login to your Kotak Mahindra Bank account and then you can apply for your Privy League Signature Credit Card (Optima & Prima).
    • For details regarding applying for the 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 (Optima & Prima)

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

      Yes, your annual fee for the first year will be waived if you spend a minimum of Rs.7.5 lakhs in the previous year.

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

      Yes, if you spend a minimum of Rs.7.5 lakhs in the previous year, the annual fee for the second year will be waived.

    3. What’s the value of the Priority Pass and the 4 complimentary visits that my Privy League Signature Card offers me?

      The value of the Priority Pass and the 4 complimentary visits that you receive is Rs.13,500.

      

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