Kotak Mahindra Bank offers various banking services including credit cards. The best credit card from Kotak Mahindra Bank is Kotak UPI RuPay Credit Card. In this article we will explain about Kotak UPI RuPay Credit Card benefits, eligibility criteria, fees and charges and how to apply for Kotak UPI RuPay Credit Card.
Benefits of Kotak UPI RuPay Credit Card
- Reward Benefits: Dive into a realm of rewards with this credit card. Earn a whopping 3 Reward Points for every ₹100 spent, turning every transaction into a step closer to exciting perks and gifts.
- Credit Card on UPI: Experience the future of payments with the seamless integration of your credit card with UPI. Make payments effortlessly, combining the flexibility of UPI with the reliability of a credit card.
- Virtual Credit Card: Bid farewell to the hassle of carrying a physical wallet. With Kotak UPI RuPay Credit Card, you can go wallet-free by making instant payments. Embrace the digital era without compromising on security.
- Lifetime Free Card: Say goodbye to hidden charges and annual fees. Enjoy the privilege of a lifetime free card, making this credit card not just a financial tool but a wise investment in your financial freedom.
Kotak UPI RuPay Credit Card Eligibility Criteria
To join the league of smart spenders, ensure you meet the eligibility criteria:
- Age: 18 to 65 years
- Existing Kotak Credit Card holder
- Resident of India
Kotak UPI RuPay Credit Card Fees and Charges
Understanding the financial aspects is crucial. Here’s a breakdown of the fees and charges associated with the Kotak UPI RuPay Credit Card:
| Joining Fees: | Nil |
| Annual Fees: | Nil |
| Interest Charges: | 3.5% (Annualized Rate – 42%) |
| Minimum Amount Due (MAD): | MAD can be 5% or 10% of TAD as decided by the Bank |
| Late Payment Charges: | <₹100: ₹0.0 ₹100 – ₹500: ₹100 ₹501 – ₹5,000: ₹500 ₹5,001 – ₹10,000: ₹600 ₹10,001 – ₹25,000: ₹800 ₹25,001 – ₹50,000: ₹1000 ₹50,000: ₹1200 |
| Auto Debit Return Charges: | Higher of (2% of bounce amount or ₹450) |
| Foreign Currency Mark Up: | For international transactions, a 3.5% per transaction fee + GST is applicable. |
| Other Charges: | Over Limit Charges: ₹500 Cheque Bounce Charges: Higher of (2% of bounce amount or ₹500) |
Additional Benefits of Kotak UPI RuPay Credit Card
- Generous reward points
- Seamless UPI integration
- Virtual card convenience
- Lifetime free card
- Transparent and minimal fees
FAQ
Is the Kotak UPI RuPay Credit Card really free for a lifetime?
Yes, there are no joining or annual fees for a lifetime.
What makes the virtual card feature stand out?
The virtual card allows for instant payments without the need for a physical wallet.
How can I apply for the Kotak UPI RuPay Credit Card online?
Currently, the application process is available only at Kotak Mahindra Bank branches.
Are there any additional benefits for international transactions?
Yes, enjoy a fuel surcharge waiver and railway booking surcharge waiver.
What sets the reward program apart from other credit cards?
With 3 Reward Points per ₹100 spent, Kotak offers a competitive and rewarding program.
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