Apply for Kotak Mahindra Bank credit cards to enjoy a variety of benefits like reward points, dining benefits, travelling privileges etc. Annual fees range from 0 to Rs. 1,999 and the interest rate is 3.5% per month.
|Credit card name||Joining Fees||Renewal Fees|
|Kotak Fortune Gold Card||Nil||Nil|
|Kotak Urbane Gold Credit Card||Nil||Rs.199 (waived if previous year's spends exceed Rs.15,000)|
|Kotak Feast Gold Credit Card||Nil||Rs.499|
|Kotak League Platinum Card||Nil||Rs. 499 (waived if previous year's spends exceed Rs.50,000)|
|Kotak Solaris Platinum Credit Card||Rs. 500||Rs. 500 (waived if previous year's spends exceed Rs.75,000)|
|Kotak Silk Inspire Credit Card||Rs 599||Rs.599 (waived if previous year's spends exceed Rs.1.25 lakh)|
|Kotak Delight Platinum Credit Card||Rs 1,999||Rs.299|
|Kotak Essentia Platinum Credit Card||Rs 1,499||Rs.749|
You get exclusive access to a world of benefits with Kotak credit cards. Reward points, cashback, fuel surcharge waivers, free movie tickets, and airport lounge access, these are just some of the perks you will enjoy.
Kotak has also designed these cards to suit your needs and lifestyle requirements. From shopping to travel, you have several options to explore.
Whether you're buying a new smartphone or getting flight tickets, you can turn any purchase above Rs.2,500 into monthly instalments.EMI conversion for outstanding balances
If you're finding it difficult to clear your outstanding balance in one go, you can opt for balance EMI conversion. You also get great interest rates when you choose this scheme.Online balance transfer
Transfer the outstanding balance on other credit cards to your Kotak card to manage your debt easily. You will also enjoy a 90-day interest free period.Kotak Cash at Ease for cash withdrawals
With this option, you can access cash whenever you want, wherever you want. There's cash available at ATMs, branches, by transferring funds online, or requesting for a demand draft.Kotak Visa Bill Pay for online bill payments
Never miss a due date with Kotak's bill payment option. All you have to do is use your Kotak credit card with Visa. This service is free too.
|Type of fees||Charges|
|Interest rate||Starts at 3.3% p.m.|
|Minimum Amount Due (MAD)||5% or 10% of the total amount due (as per the bank's discretion)|
|ATM cash withdrawal||Rs.300|
|Cash advance (per Rs.10,000)||Rs.300|
|Call a draft||Rs.300|
|Late payment fees||
Rs.100 for statement of Rs.500 or less
Rs.500 for statement between Rs.501 and Rs.10,000
Rs.700 for statement more than Rs.10,000
|Over limit fees||Rs.500|
|Cheque bounce fees||Rs.500|
|Foreign currency mark-up||3.5%|
|Cash payment at bank fee||Rs.100|
To apply for a Kotak card, you are required to maintain a credit score of at least 700. However, this may vary as per the bank's discretion.
You will have to submit several documents during your credit card application process. Listed below are some of the standard documents:
Do note that you will be informed of the exact list by the bank when you begin your application.
You can also apply for your Kotak card through the official Kotak Mahindra Bank's website. Listed below are the steps you'll need to follow to begin your application:
While the eligibility criteria differ from card to card, below you'll find the basic requirements:
There are two ways you can check your application status. You can call the Kotak banking helpline and request them for information regarding your application. Alternatively, you can visit the bank's official website and select 'Track Application Status'. You will have to enter the application number or form number to check the status.
To maximise the value of your expenses, Kotak offers a wide range of perks on its credit cards. From dining to entertainment, you'll find great discounts and deals on a variety of products and services.
You also get access to other offers when you apply for selected Kotak cards on BanBazaar's website.
Manage your debt easily by transferring your outstanding balances to your Kotak card. For starters, you can transfer a minimum of Rs.2,500 or a maximum of 75% of your credit limit. You will also enjoy a 90-day interest free period.
Balance transfer is not available on cards that are less than six months old. You will be charged a processing fee of Rs.349 for every Rs.10,000 you transfer. GST is also applicable on this transaction.
You can get a personal loan on your Kotak card when you need finances immediately. The maximum loan amount you can get is Rs.5 lakh with attractive interest rates. You can also choose tenures from 6 months to 48 months. The amount will be instantly transferred to your Kotak account or any other savings account.
There are several ways to pay off your Kotak card bill. Listed below are some options you can use:
If you have queries regarding your Kotak card, there are various customer care channels you can choose from:
The points you accumulate on your Kotak card can be redeemed for an array of things. Listed below are some rewards redemption methods you can consider:Pay with reward points
Instead of paying for your purchases with cash or card, you can use your points at participating merchant outlets.Redeem for merchandise
Your points can be redeemed for branded merchandise, movie tickets, airline tickets, air miles, cash, and even mobile recharges. In case of mobile recharges, merchandise, and airline tickets, these points will first be converted to Easy Points and the conversion rate is 1 Easy Point for every 5 reward points.Redeem for vouchers
You can also redeem your points for air ticket vouchers. However, do note that this voucher is only valid for six months.
If you're no longer using your card and wish to close it, there are certain steps you need to follow. To close your Kotak card, it's advised to send written communication to the bank. Your credit card will only be cancelled if you have paid off your outstanding dues.
Once you have cleared the balance, request the bank to share written acknowledgement stating your credit card has been cancelled. This acknowledgement should also include that all your dues have been paid.
The only way you can transfer money from your Kotak credit card to your bank account is by taking a cash advance. You can use your card to withdraw money from the ATM and then deposit that money into your bank account. The amount you withdraw will be treated as a short-term loan and the interest charged will be sperate from the interest you are charged for your retail spends. Also, keep in mind that this loan does not have any grace period when it comes to repayment.
At present, Kotak 811 customers get access to a debit card. You can access this card by logging in to your mobile banking app. However, there is no credit card that primarily caters to 811 customers currently. If you do want a credit card, you can apply for any of Kotak Mahindra Bank’s credit cards. If you meet the eligibility criteria, you will receive the credit card.
Here’s the thing with credit cards – what may be the best card for one person, could very well be the worst for another. The only way to truly get the most out of your card is by ensuring that the rewards match your spending pattern.
Once you have decided to close your Kotak credit card account, the first thing you should do is contact the bank. You can do this by calling their customer care service, but it will be better if you visit the branch you bank with. The bank officials will check to see if all pending dues have been cleared. If not, you will have to pay the outstanding amount before the bank officials go ahead and close your card account.
It’s good practice to insist on a written acknowledgement from the bank that all your dues have been paid and that the card stands cancelled. Once you receive this, you can go ahead and cut the card in your possession. Ensure that you cut the card across the magnetic strip. Doing so will ensure that you have successfully closed your credit card.
Depending on the type of credit card you are applying for, the eligibility criteria may differ. However, in general, you need to be a resident of India, have a steady source of income (you can be salaried or self-employed), and be between 21 and 65 years of age.
There are primarily two ways to increase the credit limit on your card. These are:
While there is no app exclusively for credit cards, you can always access all credit card details by using the Kotak Mahindra Bank mobile application.
Yes, you can convert the reward points you earn on your Kotak Mahindra Bank credit card to cash. To do so, log in to your net banking account, select the credit card option, and select the redemption choice. In this case, it will be cash.
Once you apply for a new credit card or place a request for a replacement card, you should receive it within 7 business days. As soon as the card is dispatched, you will receive an SMS with the name of the courier company as well as the air waybill number (AWB). You can use this number to track where your card is and when you are likely to receive it.
All credit cards come with certain fees and charges which differ depending on the type of credit card you decide to apply for. In general, these are the fees you will have to pay:
If you are applying for a new credit card for yourself, you can do so by applying either on a credit card comparison website or on the bank’s website. If you are applying for an add-on card, though, you can apply for it using Kotak’s net banking facility.
Other ways to apply for a Kotak Mahindra credit card are:
There is an interest-free period on retail transactions for up to 48 days. However, cash transactions do not have an interest-free period. When you initiate a cash withdrawal, interest will start accruing from the very same day.
You will be charged a mark-up fee every time you initiate an international transaction. A fee of 3.5% of the transaction amount will be charged for both retail as well as cash transactions.
Yes. You will be charged Rs.500 for every billing cycle that where you have exceeded 100% of your credit limit.
Yes. You can track the expenses separately for your Add-on Cards.
You need to follow the steps below if you've lost your card or it has been stolen.
Bharat BillPay Ltd., a wholly-owned subsidiary of the National Payment Corporation of India (NPCI), partners with Kotak Mahindra Bank to establish their Kotak credit cards in the Bharat BillPay ecosystem. This initiative helps Kotak credit card users to pay their bills through Bharat BillPay-enabled channels such as HDFC bank, ICICI Bank, Axis Bank, and IDFC bank. Customer details will be retrieved instantly by Bharat BillPay once the user enters the last four digits of their credit card, and users will receive payment confirmation immediately.
On Friday, Indian Oil Corporation Ltd and private lender Kotak Mahindra Bank announced a strategic partnership to develop an Indian Oil Kotak co-branded fuel credit card. Customers will receive additional value from this relationship as a result of enhanced rewards programmes that will reward them for purchases of gasoline as well as non-fuel and frequent-spend categories such as dining and groceries.
On 14 December 2021, IndiGo and Kotak Mahindra Bank launched ‘Ka-ching’, a travel credit card. The co-branded credit card was launched on the Visa platform. The Ka-ching credit card enables users to spend and redeem rewards for free IndiGo air tickets.
The card can be availed in two variants - 6E Rewards and 6E Rewards XL. Customers will get benefits and rewards on dining, flight bookings, entertainment, shopping, and more. Users of this card will also earn accelerated 6E Rewards on all purchases, which can be redeemed for airline tickets at any time without blackout dates.
Kotak Mahindra Bank in association with National Payments Corporation of India (NPCI) has launched contactless credit cards for Indian armed forces personnel. The cards have been launched on the RuPay network and are named Kotak RuPay Veer Platinum and Kotak RuPay Veer Select Credit Cards. The cards come with zero joining fee and include benefits include annual fee waiver, fuel surcharge and railway surcharge waivers, card activation offer, attractive rewards programme, and airport lounge access.
On Monday, the airline Indigo and Kotak Mahindra Bank announced a collaboration to launch ‘Ka-ching’, a co-branded credit card. The card will be launched under the Indigo rewards program and will be operated by the airline. It is slated to be available by next month in two variants: 6E Rewards XL and 6E Rewards. The airline Indigo said in a release, that both the variants offer exclusive travel benefits to the user. The cardholders will also get reward points for spending on shopping, dining, entertainment and other utilities.
26 October 2021
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