Kotak Mahindra Bank Credit Card Interest Rates

The Kotak Mahindra Bank Credit Card offers a number of exclusive rewards and features. It caters to a variety of needs of the customers like shopping, lifestyle, and many more.

The current interest rate on Kotak credit cards is 3.5% per month or nearly 42% per annum. However, if you settle your outstanding debt by the due date, you can avoid this hassle. It is advisable to be aware of the current Kotak credit card interest rates before applying for one.

If you pay the complete outstanding debt by the due date, you will not be charged an additional fee. That is the best feature of credit cards. However, if you are unable to pay the full amount by the due date, it is critical that you understand kotak mahindra bank credit card interest rate and how they are calculated.

Kotak Mahindra Credit Card Interest Rate

Here is the table for the Kotak Bank credit card interest rate-

Kotak Credit Cards

Annual Rate

Kotak White Credit Card

37%

Kotak Mojo Platinum Credit Card

42%

Kotak 811 #DreamDifferent Credit Card

35.88%

Kotak Bank Essentia Platinum Credit Card

42%

Kotak Bank Fortune Gold Credit Card

42%

Kotak Zen Signature Credit Card

41%

Kotak Bank Best Price Credit Card

41%

Kotak Bank League Platinum Credit Card

42.00%

Kotak Bank PVR Kotak Gold Credit Card

42.00%

Kotak Bank Delight Platinum Credit Card

42%

Kotak Bank Corporate Wealth Signature Credit Card

37.20%

Kotak Bank Feast Gold Credit Card

42.00%

Kotak Bank Royale Signature Credit Card

40.80%

Kotak Bank NRI Royale Signature Credit Card

37.20%

Kotak Bank PVR Kotak Platinum Credit Card

42%

Kotak Bank Corporate Platinum Credit Card

39.60%

Kotak Bank Wealth Management Infinite Credit Card

37.20%

Kotak Bank Urbane Gold Credit Card

42%

Kotak Bank Corporate Gold Credit Card

39.60%

Kotak Bank Privy League Signature Credit Card

42%

Features of the Kotak Mahindra Bank Credit Cards

With its credit cards, Kotak Mahindra offers a variety of exciting benefits in a variety of categories. Premium cards with high annual fees provide greater rewards and benefits than basic cards with lower annual fees.

The following are the general features and benefits of the Kotak Mahindra Credit Cards-

Rewards/Cashback

One of the most appealing features of Kotak Bank Credit Cards is the Reward Points/Cashback benefits, which reward you with reward points or cash back every time you use your credit card. The reward rate may differ between credit cards.

Milestone Benefits

Milestone benefits are the perks you get when you spend a certain amount of money in a certain amount of time, which is usually one anniversary year. Milestone benefits, like welcome benefits, can take the form of bonus rewards, accelerated cashback, and other perks.

Welcome Benefits

When you join the card membership, you will receive a slew of welcome benefits related to the Kotak Mahindra Cards. These benefits can include things like free premium memberships, gift cards, bonus reward points, accelerated cashback, and much more.

You typically receive these benefits after paying the joining fee or meeting the specified milestone spend within the first few months.

How to Apply for the Credit Card of Kotak Mahindra Bank?

The following are the actions you must take to begin your application-

Step 1: Visit the official Kotak Mahindra website.

Step 2: Choose 'Cards' and then 'Credit Cards' from the 'Browse Products' tab.

Step 3: You will be taken to a page that lists all of Kotak's credit cards.

Step 4: Once you have found a card to apply for, you can select 'Apply Now.'

Step 5: To complete your application, you must enter the required information.

Eligibility to Apply for the Credit Card of Kotak Mahindra Bank

While the eligibility conditions for each card vary, the following are the general requirements-

  • 21 years of age or older
  • Indian resident who is salaried professional or self-employed
  • A minimum annual income of Rs. 3 lakhs per year is required.

Documents Required to Apply for the Kotak Mahindra Bank Credit Card

The documents that are required are-

  1. a) ID Proof: PAN, Aadhaar, License, or passport.
  2. b) Address Proof: Aadhaar, License, Passport, or Utility Bill.
  3. c) Income Proof: Bank statement, salary slip, or form 16.

Top Kotak Mahindra Bank Credit Cards

Credit Card

Joining Charges

Annual Charges

Kotak Fortune Gold Card

-

-

Kotak Feast Gold Credit Card

-

Rs. 499

Kotak Solaris Platinum Credit Card

Rs. 500

Rs. 500

Kotak Delight Platinum Credit Card

Rs. 1,999

Rs. 299

Kotak Urbane Gold Credit Card

-

Rs. 199

Kotak League Platinum Card

-

Rs. 499

Kotak Silk Inspire Credit Card

Rs. 599

Rs. 599

Features of the Major Kotak Mahindra Bank Credit Cards

The features offered by the various credit cards of Kotak Mahindra Bank include-

Kotak Fortune Gold Card

The cardholder can not only withdraw cash from Kotak and other Visa ATMs but also acquire cash and conduct financial transfers at branches, as well as request a Demand Draft online and offline. You would never run out of methods to get cash with so many options.

Kotak Feast Gold Credit Card

This card is best suited for dining expenses. Spend at least 5000/- on dining and movies and earn 10 DINING POINTS for every extra 100/- spent on dining and movies.

Kotak Solaris Platinum Credit Card

The credit card comes with an insurance policy that provides coverage against loss or theft of the card. The insurance protects the cardholder from unauthorized transactions and has a coverage limit of Rs.1.25 lakh.

Kotak Delight Platinum Credit Card

The key focus of the Kotak Delight Platinum Credit Card is the collection of advantages it provides in lifestyle categories such as dining, travel, and gasoline.

Kotak Urbane Gold Credit Card

This card is best suited for retail transactions. Every time you spend Rs.100 on retail transactions, you will receive a 3X reward.

Kotak League Platinum Card

The Kotak League Platinum credit card is accepted internationally, and cardholders can make credit purchases at any merchant outlet store anywhere in the world.

Kotak Silk Inspire Credit Card

This is a shopping card. You get up to 5x points for every Rs.100 spent on clothes.

When is the Kotak Credit Card Interest Rate Charged?

Apart from failing to pay the full amount due by the due date, there are numerous other behaviors or transactions on your card that carry interest rates.

Here are a few examples when credit card interest rate kotak Mahindra will be charged-

  • When you choose to pay only the minimum due and carry a portion of the entire outstanding amount forward to the following billing cycle.
  • When you withdraw the cash amount with your credit card, cash advances are expensive, but if you utilize this benefit while traveling, you will be charged a large cash advance price.
  • Late fees and other penalties will be assessed if you do not pay minimum amount due by the due date.
  • When you use your credit card in an overseas location, you will be charged additional fees.

Interest-Free Tenure

On their credit cards, Kotak Mahindra Bank offers an interest-free period. However, the interest-free period does not apply to cash advance transactions.

In addition, if the consumer fails to pay the credit card bill by the due date, the interest free period is forfeited. As a result, no following transactions benefit from an interest-free term.

Benefits of Opting for the Kotak Mahindra Bank Credit Card

  • Whether you're buying a new smartphone or getting travel tickets, you may transform any transaction above Rs.2,500 into monthly installments.
  • If you're finding it tough to settle your outstanding balance in one go, you might choose balance EMI conversion. When you choose this program, you also obtain amazing interest rates.
  • You can access cash anytime and wherever you want with this option. There's cash available at ATMs, and banks, by transferring funds online or requesting a demand draft.
  • Move your outstanding balances from other credit cards to your Kotak card to simplify debt management. You will also have access to a 90-day interest-free term.

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