Apply for 811 #DreamDifferent Credit Card online without any income documents. Decide your own credit limit. Get the credit card against fixed deposit (FD) for as low as Rs.10,000.
Step 1: Login to your Kotak Mobile Banking app, in Apply Now section click on "Credit Card" to apply.
Step 2: You can check the different features of 811 #DreamDifferent Credit Card. Tap on ‘Continue’.
Step 3: Select your credit card delivery address from the options/addresses displayed on screen.
Step 4: If you are not a Director of any bank, tick the checkbox that reads ‘I am not a director of any bank’. Click ‘Confirm’.
Step 5: Choose the credit limit. The credit limit is 90% of your fixed deposit amount. The minimum amount of term deposits is Rs.10,000 and Rs.9,000 is the minimum credit limit. The maximum credit limit is Rs.16 lakhs.
Step 6: Set up fixed deposits. If you have FDs, you can choose from one of the existing fixed deposits and tap confirm. Please note that if you have FDs with a principal amount of less than Rs.10,000 or entered credit limit, the existing FD will not be shown in the list. Please see FD eligibility criteria for more details on eligible FDs.
If you don’t have a FD, you can open a new fixed deposit. Also, in case you don’t have enough balance in the savings account to fund your term deposits, you have the option to fund the account through a different savings account.
You can do real time funding using the "Pay through Debit Card / Net Banking" option.
Also, you can fund through NEFT / IMPS. View and download your Kotak account details and use it to add your Kotak bank as a payee in another bank. Also, you can share the details with family members and friends.
Step 7: After the account is funded, you can open a fixed deposit. Enter the details such as the debit from the account, type of deposit, tenure etc. Tap on confirm.
Step 8: Confirm the FD details and accept the terms and conditions page.
And you are done! You will receive an application reference number and the credit card will be delivered within 7 working days. Also, you will receive your credit card e-statements on your registered email.
A credit card is a transactional card that enables the holder to make purchases of goods and services or withdraw advance cash on credit. It is issued by banks and financial institutions to bring convenience of payment. Credit cards act as a micro loan tool where the individual makes purchases under the condition of paying off the same within a specific time period. There are no interest payouts if the due amount is paid within a specific time (interest-free period). A custom borrowing limit is pre-set by the issuer and this determines the maximum amount of credit a user can spend from a credit card. Credit card brings users the opportunity to save big through discounts and deals, making it a popular choice.
Don’t be put off by the term ‘credit’. If used wisely, credit cards are a convenient tool to manage your short-term financing needs. A credit card is a financial tool that lets you borrow a certain sum of money and repay it back later in instalments. An interest is charged only if the credit amount is not repaid within the grace period which usually ranges between 20 to 60 days. Whether you want to make online payments or swipe the card at a restaurant, everything is possible with a credit card. Besides allowing you to borrow funds conveniently, credit cards also offer a host of benefits such as reward points, cashbacks, frequent flyer miles, credit score etc. A credit card is certainly a must-have item in your wallet.
At Kotak Mahindra Bank, we understand the diversity of our customer’s needs. Hence Kotak Bank offers a wide range of credit cards based on your buying preferences. We have categorized our credit card rewards centred on your preferences such as entertainment, shopping, dining, travel and lounge access. Depending on your purchase inclinations, you are free to choose a credit card that earns you extra points on the things that matter the most to you. So go ahead, explore and compare our wide assortment of credit cards in order to find the perfect match. Once you find the right credit card, you will be able to earn as you spend!
The eligibility criteria for a kotak credit card will vary for every applicant. However, there are some criteria that remain uniform and these include: