Kotak Mahindra Bank, one of the most reputed banks of India, is very much well known for its customer service and facilities. In today’s article, we will discuss an exceptional credit card from Kotak Mahindra Bank, named Kotak Royale Signature Credit Card. So, if you are looking for a credit card that gives you premium benefits on your shopping, travel, and other daily expenditure, this article will be a beneficial one for you.
Because in today’s article, we are going to do an in-depth review of this card. So, if unable to understand that you should go for this card, hopefully, after reading this article,e you can easily understand what you should do. So, let’s begin the review with the key features and highlights of this card.
This is the segment from where you can get an overall concept about the features and benefits of this card.
- Here you can join the service free of cost. And the annual fee is just Rs.999.
- All cardholders get 2x reward points every time on the spending of Rs. 150 in any category.
- On spending Rs. 150 every time on tour and travel-related categories, you can earn 4x reward points every time.
- The company provides 2 complimentary lounge access to all the cardholders. Here you can access two airport lounges every quarter with the use of this credit card.
- Here you can also get milestone benefits if you can fulfill a particular limit that the bank sets. If you spend 4 lakh rupees in a year using this card, you get 10,000 reward points as a bonus. Besides this, if you spend 8 lakh or more in a year, then you get 30,000 reward points as a bonus.
- If you use this card on your fuel transactions, you get a waiver on your fuel transaction bill. Here your bill waived off from Rs. 500 to 3000 in a month. The maximum amount limit waived off in a year is Rs. 3500, which is really a great amount that you can save by just using this card on the petrol pump.
- Get priority pass service from the Kotak Mahindra bank and automate services like monthly due payment, cheque drop services, etc. many more.
The reward point system is also imposed on this card. You get reward points on almost every transaction made by this credit card. Here you get 2X reward points on every spend of Rs. 150 in any category. But the best part is you get 4X reward points on spending the same amount on your tour and travel expenditure.
Moreover, if you spend 4 lakh rupees in a year using this card, you get 10,000 reward points as a bonus. Besides this, if you spend 8 lakh or more in a year, then you get 30,000 reward points as a bonus.
Features And Benefits
This is the segment that can help you to decide that you should issue this card or not. You can join the service by paying just Rs.999. After that, you get started with all kinds of features and benefits. Here is a detailed review of the features and benefits that you get from the company.
1. A Waiver On Annual Fee
If you can spend Rs 1 00,000 or more in a year using this card, you get a waiver on your annual fee. This is also another great feature that you get from the company from the second year onward.
2. Contactless Transaction Facilities or Paywave Technology
This card is coming up with visa paywave technology which is very much the latest technology. This is an in-built chip credit card; that’s why you can easily use contactless transactions, which are very safe and secure. But here, can you only use this feature to pay up to Rs. 5000 or below then it.
3. Travel Benefits
This card is also very much beneficial for those who often travel by flight. As cardholders here, you get two Airport lounge access every quarter, where you get paid access and exclusive deals. Besides this, you can get free Wi-Fi, meals, newspaper and magazines, TV, etc. many more.
4. A Waiver On Fuel Surcharge
If you use this card on your fuel transactions, then you get a discount on it as a fuel surcharge waiver. Here you get a 1% waiver on your fuel transaction bills. Here you get a discount or waiver of a minimum of Rs. 500 to a maximum of 3000 in a month. You can avail of the total amount as a fuel surcharge waiver is Rs. 3500 in a year.
5. Railway Surcharge Waiver
If you book tickets from the official website of IRCTC, you get a waiver on your ticket booking charges. Here you can get up to Rs.500 discount in a particular calendar year.
6. Add-On Card Facility
Add-on card facility is another great feature of this card. Here you get all the benefits in one single credit card. Moreover, by using this feature here, you can set your card’s spending limit and track all those separately.
7. Reward Point System
The reward point system is also imposing on this card. You get reward points on almost every transaction made by this credit card. Here you get 2X reward points on every spend of Rs. 150 in any category. But the best part is you get 4X reward points on spending the same amount on your tour and travel expenditure.
8. Easy Redemption Process
The redemption system of your reward points is also straightforward and simple. You can redeem your reward points to buy mobile recharge pack, flight and train tickets, booking, etc. many more. Besides this, you can also redeem over 10,000 partnered merchandise shops. Moreover, you can redeem your points with the easy rewards system.
9. Milestone Benefits
The milestone benefit of this card is also very impressive and profitable. To avail this benefit, you have to pay a certain amount of money every year or in a single year. If you spend 4 lakh rupees in a year using this card, you get 10,000 reward points as a bonus. Besides this, if you spend 8 lakh or more in a year, then you get 30,000 reward points as a bonus.
10. Liability On Lost Card
If you by mistake lost your card, then the company provides a lost card liability feature. Here you get cover off Rs. Up to 2.5 lakhs against fraudulent usage, which is up to 7 days before the lost card report.
11. KASSIST Service
The Kotak bank especially provides a KASSIST service to their cardholders which is a very much useful feature. Besides this, you get some automated services like monthly due payment, cheque drop, etc.
Who Should OPT For This Credit Card?
Now a most important question that may come to your mind that who should go for this particular credit card? So, the simple answer is if you are looking for a card that can provide you with day-to-day benefits and premium benefits. Here you can get 2x reward points in every spends, and as well as you get premium benefits like travel benefits, airport lounge access, milestone benefits, etc. Many more. So, if you often spend on this, I can assure you that this card is perfectly all right for you.
What Makes This Card Better From Other Credit Cards?
This is another important question that makes comes to your mind that you should choose this card instead of thousands of other credit cards. So, the answer is this card gets you to reward on your daily essential product and as well as it gives you many premium benefits that we talk earlier. Besides this, the fees are also quite affordable on this card. So in a word, we can say this is a budget credit card that gives you facilities in your regular life and benefits your tour and travel. That’s why it can beat almost every credit card available in the market with that same feature.
So, this is another vital sector that you have to read very carefully before issuing this credit card. In this segment, we talk about all kinds of charges that you have to pay at the time of joining or in the future after joining.
Eligibility And Required Documents
How To Apply For Credit Card?
The application process of this card is straightforward. You can apply it both online and offline. If you want to apply for this card, you have to visit the official website of Kotak Mahindra Bank. Here you find the application area and all the guidelines regarding this. Then you have to follow all mentioned steps and fill in all the details regarding this. In this way, you can apply for this card. After it, the Bank officials directly contact you.
Besides this, if you cannot apply online, visit the nearest branch of Kotak Mahindra Bank, where the officials will help you.
If you don’t like or afford this card, you have to try these under-mentioned cards, which are almost the same as beneficial and profitable.
1. What is the annual fee of this card?
Yes, the annual fee is Rs. 749, which you have to pay from the second year onwards.
2. What can I do if I lost my card mistakenly?
If you lost your card, simply save to contact Kotak Mahindra bank customer care to block your card services.
3. Is this card is globally accepted or not?
Yes, you can use this card almost anywhere around the globe. Almost every country accepts this credit card.
4. Is the bank provide any annual fee waiver scheme?
Yes, if you can spend Rs.1, 00,000 or more in a year using this card, you get a waiver on your annual fee.
5. What are the services I get in the airport lounge?
If you are a cardholder, you get gourmet meals, free newspapers and magazines, free wifi, widescreen TV, comfortable sitting facilities, and many more.
6. What about the interest-free period on this card?
The interest-free period is applicable for cash-based transactions, but this is not valid for cash withdrawals.
7. Can NRI apply for this card?
No, NRI doesn’t apply for this card. Only the citizens of India can apply for this card.
8. When I get the bonus reward points that I earn from my transactions?
You get the bonus reward points at the end of the anniversary period.
So, this is an in-depth review of the KotakRoyale Signature Credit Card. by reading the whole article, I hope you can clearly understand the advantages and disadvantages of this card. Besides this, you can understand whether you should issue this card or not.
That’s all for today. Thanks for joining. Stay tuned with us for getting such interesting card review articles.