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Kotak Credit Card Statement, also known as a billing statement is an overall summary of how you have used your credit card for a particular billing period. Your credit card statement consists of terms, numbers and percentages that play an important role in the calculation of your total credit card balance. Following are the relevant details regarding your Kotak Mahindra Bank Credit Card Statement.
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Kotak Mahindra Bank Credit Card Statement is an important financial report that provides insight into the total purchases you have made with your credit card during the last billing cycle. It tracks the usage of your credit card for a specified time period and hence helps in keeping a check of any fraudulent transactions or billing errors. It is basically a summary of how you have used your credit card during a statement period.
Kotak Mahindra Bank Credit Card Statement is divided into various terms or components. These components mention all the expenses you have made and charges levied on your credit card in detail. Here are some of the common terms or components of Kotak Bank Credit Card Statement:
Statement Period: Also known as the billing cycle, it is the duration for which the payment of the card has to be done. This is mentioned on the top right-hand corner of the credit card statement.
Payment Due Date: The payment due date is the deadline by which the amount due by you should be paid to the bank. If you make any payment later than this date, then it will attract late payment charges and also negatively impact your credit score.
Total Amount Due: It is the total amount, including opening balance, new purchases, fees and other finance charges that is due as on the statement date.
Minimum Amount Due: It is the portion of the total amount due which represents the minimum amount that you need to pay to the bank every month.
Closing Balance: It is the total amount that is due on the card, and you should consider this amount if you want to pay off your entire debt.
Current Outstanding Balance: It is the total amount of the money that is calculated on the basis of your previous month’s expenses on your credit card. This is the outstanding amount that you need to pay to the bank at a certain point of time.
Transaction Summary: It is a sort of transaction history that provides a quick reference to all the transactions made by you during the billing cycle.
Generally, the minimum amount due is calculated as 5% of the total outstanding amount. The minimum amount due is inclusive of all the charges levied on your credit card. Here’s an example to help you understand how the minimum due is calculated:
You have made a purchase of Rs. 10,000 on August 15 and the due date is September 26, then your minimum amount due will be Rs. 500 (5% of Rs. 10,000).
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You can check your Kotak Mahindra Bank Credit Card Statement online through net banking, mobile banking and by visiting the official website of the bank. Here is how you can view Kotak Credit Card Statement online.
Step 1: Visit the Kotak Credit Card Statement download page by clicking here.
Step 2: Enter the required details, including your registered mobile number and date of birth or customer relationship number (CRN) and click on ‘Send OTP’.
Step 3: Enter the OTP received on your registered mobile number.
Step 4: Click on the ‘Download Statement’ and view the last 5 transactions on your credit card.
Step 1: Log in to the net banking portal of Kotak Bank using your CRN/ username and password.
Step 2: Go to the ‘Credit Card’ section and click on the ‘Statement’ option.
Step 3: Select the time duration and click on ‘View Statement’ and your credit card statement will be displayed on the screen.
Step 1: Download the Kotak mobile banking app from the play store or app store.
Step 2: Login using your username and password.
Step 3: Go to the ‘Credit Card’ section and click on the ‘Credit Card Statement’ option.
Step 4: You will be redirected to the page where you can see your last 12-month credit card statement.
Step 5: Choose the preferred statement and download it in PDF format.
You can get instant and easy access to your credit card statement online with e-statements from Kotak Bank. With the e-statement facility, you get instant access to your credit card transactions that too free of charge. You can easily view your credit card statements online by registering for e-statements.
Via SMS: Send an SMS from your registered mobile number in the predefined format. Send GREEN to 5676788 to register for the Kotak Bank Credit Card e-statement facility.
Through Net Banking: Visit the net banking portal of the bank and click on ‘Service Request’ under the ‘Credit Card’ tab. After this, choose the ‘Register for E-statement’ option and you will be registered for the same.
Through Customer Care: You can call on the Kotak Mahindra Credit Card customer care number and inform the representative that you want to switch to e-statements. The representative will ask a few questions for confirmation and proceed with your request.
The bank also provides the facility to check your Kotak Mahindra Bank Credit Card Statement offline through various methods. Here are the ways through which you can check your credit card statement offline:
Through Customer Care: Contact Kotak Bank Customer Care and place a request to receive your credit card statement. The representative will ask for a few credit card-related details and after verification, the bank will provide your credit card statement for the chosen time duration. Once requested, the statement will be sent to your residential address registered with the bank
By Visiting Bank: Visit the nearest Kotak Mahindra Bank branch and request the representative for your credit card statement. Choose your preferred duration to receive your credit card statement.
While going through your credit card statement, it is possible that you might see an error like an unauthorized transaction. You must inform the bank as soon as you notice the error. Below mentioned are some of the ways through which you can handle these errors:
Q. What is the Kotak Credit Card Statement password to open the pdf file?
A. The bank has a set format of password for all the cardholders. The password to open your credit card statement is your Customer Relationship Number (CRN). In case you don’t know your CRN, you can call customer care and ask for the same.
Q. Who all can register for Kotak Credit Card E-statement?
A. All the credit cardholders can register for the e-statement facility, irrespective of whether they have an account with the bank or not. To avail this service, you need to inform the bank that you want to switch to e-statements. You can do the same by calling on the customer care number or by sending an SMS to the bank.
Q. Does the bank incur any charges for Kotak Bank Credit Card Statement?
A. No, the bank does not incur any charges if you download your credit card statement through the online portal or via the mobile app. However, the bank charges a nominal fee in case you want to receive a physical statement.
Q. Will Kotak Mahindra Bank continue to issue physical statements after I have registered for e-statements?
A. No, Kotak Bank will discontinue sending the physical copies of your credit card statements if you opt for the e-statement facility. You can request a hard copy of the same by contacting customer care.
