Kotak Mahindra Bank Credit Card Eligibility

Factors that affect customer’s chances to avail a Kotak Mahindra Bank credit card are:

Income – Banks check the income of the applicant before approving their credit card application. This is done to ensure that the applicant can repay their credit card bills. Also, the credit limit assigned to the individual is dependent on the income of the individual.

Relationship with the Bank – Kotak Bank like any other bank prefer to give credit card to those customers who have a prior relationship with the bank. So, applicants that have an existing salary, current, or savings accounts with the bank will have higher chances of card approval. This is because banks already know the financial behavior of the account holder.

Credit Score – Credit score lets the bank know how financially responsible an applicant is. Through credit score, the bank will know whether the customer has ever defaulted on their repayments or not. The bank will also know up to what limit customer can fully repay the due amount.

Age of the Applicant – The bank gives credit cards to those applicants that can earn a living and for that reason the age criterion is between 21 and 60 years.

The documents required for Kotak Mahindra Bank credit cards are:

Proof of Identity	PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI, etc.
Proof of Address	Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 month’s old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement, etc.
Proof of Income	Latest one or 2 salary slip (not more than 3 months old), Last 3 months’ bank statement, ITR, Form 16, etc.

There are various parameters which an individual should meet in order to apply for Kotak Mahindra Bank credit cards. Some of these factors are discussed below:

Credit Score – Kotak Bank makes a hard inquiry into the applicant’s credit profile. Kotak Bank can ask any of the credit bureaus such as CIBIL, Equifax, and Experian to share the credit report on the customer. If the credit score is not satisfactory then the bank might refuse to extend a credit card.

Debts to Income Ratio (DTI) – Banks give credit card to those customers who have a low debt to income ratio. Debt to income ratio is the ratio between the monthly payments that the customer has to make and the monthly income of the customer. Banks might reject applicants whose debt to income ratio reaches 50%.

Location – Kotak Bank provide credit cards to those customers who reside in the following places:

Ahmedabad, Bangalore, Chennai, Delhi, Gurgaon, Noida, Hyderabad, Kolkata, Mumbai, Navi Mumbai and Pune.

Income – The minimum income requirements for Kotak Bank is Rs. 25,000 per month. However, different credit cards might require higher income. Also, the credit limit extended to the user is dependent on the income of the applicant.

What is the eligibility of Kotak credit card?
The eligibility criteria for Kotak credit card are:

• Age – Between 21 and 65 years of age
• Income – Above Rs. 3.00 lakh per annum or Rs. 25,000 per month
• Location – Ahmedabad, Bangalore, Chennai, Delhi, Gurgaon, Noida, Hyderabad, Kolkata, Mumbai, Navi Mumbai or Pune

How can I increase my Kotak credit card limit?
Customers can contact Kotak Bank’s customer care center to request a credit limit increase.

What is the minimum salary for Kotak credit card?
The minimum salary is Rs. 3.00 lakh per annum or Rs. 25,000 per month.

How can I get a credit card in India?
Customers can easily get a credit card in India. Just visit the credit card provider’s website and click on ‘Apply Now’ against the card of choice. They may also visit the bank’s branch and apply for a card from there.

How can I get a credit card without a job in India?
Customers can get a credit card even if they don’t have a job. They can apply for a secured credit card which is issued against a fixed deposit. Kotak Bank issues secured credit card against a term deposit of Rs. 25,000. Alternatively, customers can seek an add-on card which are available for immediate family members of the primary card holders.

Please Note: Kotak Mahindra Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.