|Credit Card expenses||Savings - Year 1||Savings - Year 2 onwards|
|10% savings on Departmental and Grocery spends on monthly spends of 5000||6000*||6000*|
|Savings on spends done on other categories on monthly spends of 5000||240||240|
|Milestone Benefit of 12 PVR tickets on spending 1,25,000 every 6 months||3000**||3000**|
|Total Savings in a year||9240||9240|
|Net Savings in a year after paying the fees||7741||8491|
*Maximum saving points of 500 can be earned in a month for both Departmental and Grocery spends for a minimum transaction size of Rs. 1500 and maximum transaction size of Rs. 4000.
10 saving points are offered on transactions undertaken at only those merchants establishments which are classified under "Departmental Store & Grocery" Merchant Category Code(MCC) as defined by VISA.
**For calculation purpose the average PVR tickets price has been taken as Rs. 250.
***Joining fee of Rs. 1499 is applicable in the 1st year and charged one time at the beginning of the year. It is billed in the first statement generated after card set up in the 1st year.#Annual fee of 749 is applicable from 2nd year onwards and charged at the beginning of the year. It is billed in the 13th statement generated after the card set up and in 2nd year and every 12 months thereafter.
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!
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.
A debit card lets you withdraw money that you have previously deposited into your bank account. It is linked to your account and is offered as an add-on facility by banks and financial institutions. A credit card on the other hand, lets you make spends on the terms of a short term loan. The bank enables you to make transactions to a given limit. Rather than having to make repayments on per use basis, there is a bill generated of the total repayment due at the end of each billing cycle.
Joining Fee: INR 1,999|Annual Fee: INR 299