With changing times, just like everything else, our financial needs also change. What might have been suitable a few years ago might not be as suited to our changing lifestyle any longer. However, Kotak Mahindra has kept in touch with the changing times and as a result has tailored a range of debit cards which offer the best of privileges, advantages and benefits. The Kotak Mahindra Gold Debit Card has been designed keeping those changing lifestyles and needs in mind. A new age debit card, it comes loaded with some of the most sought after features and benefits to help you get the most out of everyday transactions. Among the many features which this card offers are fuel surcharge waiver, complimentary insurance covers, high transactions limits for withdrawal and POS transactions and an array of exciting deals, discounts and offers across several lifestyle verticals.
Features & Benefits of Kotak Mahindra Gold Debit Card
- Magnetic Strip & Chip Based Card for Enhanced Security – The Business Class Gold is available not only in a Chip based but also a Magnetic Strip based variant. This allows you to have flexibility and also enhanced security in making payments at online at e-commerce websites and merchant establishments.
- Complimentary Insurance Cover – Stay protected wherever you go as the Gold debit card provides you with two essential insurance covers. With this card, you are entitled to Air Accident Insurance worth up to Rs 15,00,000 and Lost Baggage Insurance up to Rs 1,00,000.
- Fuel Surcharge Waiver – With the rising price of fuel, it has become a major expense in an individual’s budget. With the Gold debit card, you get waiver on your fuel surcharge, currently levied at the rate of 2.5%. Over time, it can help you make considerable savings on fuel expenses.
- Lost Card Liability & Purchase Protection Limit – The Kotak Mahindra Debit Card also features two transaction safety features to protect your card from any misuse in case it is lost. You get cover for Lost Card Liability and Purchase Protection worth Rs 1,75,000 and Rs 75,000 respectively.
- Avail Exciting Offers & Discounts – As a Gold Debit Card holder, you are privy to a world of offers, discounts, deals and much more on a spectrum of categories like dining, apparel, lifestyle, travel, wellness, health, fitness and much more. Avail offers from top brands and retailers like Kenneth Cole, Pepperfry, ZoomCar, Freecharge, GoIbibo, Urban Ladder, INOX Cinemas, Cleartrip, Kaya Skin Clinic, National Geographic Magazine and many more.
- Widely Accepted – The Kotak Mahindra Business Class Gold Debit Card is widely accepted not only at national and international merchant locations for POS transactions but also at ATM worldwide in India and abroad. Carry out transactions with ease wherever you go.
- Global Customer Assistance Service (GCAS) - The Kotak Gold is a Visa debit card which also allows you the exclusive access to avail the 24 hours Visa Global Customer Assistance Service, any time the need arises. The customer assistance service can be contacted any time if you wish to report the loss or theft of your Visa debit card, need an emergency debit card replacement or want to make any other miscellaneous car related queries.
- High Transaction Limits – With the Gold Debit Card, you get to enjoy high transaction limits not only for ATM withdrawals but also for making purchases. This card features daily purchase limit of Rs 1,75,000 and a daily ATM withdrawal limit of Rs 1,75,000.
Eligibility for Kotak Gold Debit Card
The Kotak Gold Debit card is a unique debit card which offers multiple benefits. This card currently offered to select Kotak Mahindra customers who may either be residents holding Savings Accounts with the bank or non-resident customers holding NRE Savings Accounts with customers.
Fees & Charges : Kotak Mahindra Gold Debit card
|Issuance Charge||Rs 500|
|Annual Charge – Primary Card||Rs 500|
|Annual Charge – Add-on Card||Rs 500|
|Cash withdrawal/Balance Enquiry at own ATM||Free of charge|
|Withdrawal/Balance Enquiry at non-bank ATM||Cash withdrawal – Rs 20; Bal. Enquiry – Rs 8.50|
|Cash Withdrawal – International ATM||Rs 150 / per transaction|
|Bal. Enquiry – International ATM||Rs 25 / per transaction|
|Visa Global Assist Charges||USD 5|
|Visa Global Assist Charges – Lost Card||USD 35|
|Transaction Declined at non-bank ATM – Insufficient Funds||Rs 25 / per transaction|
Kotak Mahindra Gold Debit Card FAQ
- Is there any surcharge fee applicable if I purchase fuel or make an IRCTC transaction with my Business Class Gold debit card?
Yes, a transaction charge at the rate of Rs 10 or 2.5% will be levied on the purchase of fuel. For IRCTC bookings, a Payment Gateway charge at the rate of 1.8% will be levied.
- Can I use my Gold debit card for making purchases overseas?
Yes, the Gold is a Chip based debit card and is enabled for international use (ATM transactions and POS transactions) by default.
- Can I change the daily withdrawal and purchase limits on my Gold Debit Card?
Yes, you can easily change or enhance the transactions limits on your debit by simply calling the customer care center at the bank and placing a request for the same.
- What do I do if I lose my debit card while travelling overseas?
You must immediately report the loss at the toll free number to block your card to prevent any misuse. You may also do so by calling the Visa Global customer Assistance Service for the same.
- What is meant by Lost Card Liability Cover?
Lost Card Liability cover basically protects you in case your card is lost and subsequently misused or used for fraudulent transactions. The insurance cover will protect you from any liability , up to a certain amount, which may arise from the fraudulent use of your card.
- Is there any cross-currency mark-up charged on this debit card?
Yes, a cross currency mark-up at the rate of 3.5% is chargeable on all foreign currency transactions carried out on this debit card.
- When will the fuel surcharge waiver reflect in my Kotak bank account?
For all debit cards which are eligible to receive a fuel surcharge waiver, the same will be reversed from your bank account by the 12th of the following month.