Kotak Mahindra Privy League Signature Credit Card

The features and benefits associated with Kotak Mahindra Privy League Signature Credit Card are listed below.

Reward Points (Paid Card) Customers earn Reward Points on every Rs. 100 they spend. 5x reward points are earned on apparels, grocery, consumer durables, departmental stores, airlines, hotels, duty free, international spends and travel agencies transactions. 2X Reward Points are earned on other transactions

Reward Points (Free Card) Customers earn Reward Points on every Rs. 100 they spend. 5x reward points are earned on apparels, jewellery, consumer durable, restaurants, departmental stores, airlines, hotels, restaurants, international spends and travel agencies transactions. 2X Reward Points are earned on other transactions

Reward Points Value The value of each reward point is Re. 0.25

Reward Redemption Customers can redeem their reward points against air tickets, merchandise and so on. Customer can also get statement credit wherein 400 points will be converted to Rs. 100 and be credited into the users account every three months

Priority Pass Customers can enjoy priority pass benefits in the following manner

Variant	Benefit	Annual Savings
Free Variant	Priority Pass Membership	Approx. 7,425 (USD 99+GST)
Paid Variant	Priority Pass Membership + 4 free visits	About 15,525 (USD 99+GST+USD 27*4)

Do note Paid variant requires customers to pay an annual fee of Rs. 2,500. The annual fee can be waived as long as the customer can maintain Insignia / True Optima Banking Relationship or spend Rs. 5.00 lakh in the previous anniversary year.

Movie Vouchers Get up to 4 free PVR movie tickets per quarter on spending Rs. 1,000 per month

Low Finance Charge The finance charge on this credit card is 2.49% per month or 29.88% per annum

Security Get up to Rs. 2.5 lakh as insurance against unauthorised transactions. The card covers transactions up to 7 days before the day of reporting

Kotak Mahindra Privy League Signature Credit Card
Good For: People who want a premium credit card Customers who want Priority Pass Membership Cardholders who want PVR movie vouchers	Bad For: People looking for a low-cost credit card Customers who prefer cashback Cardholders who want concierge service

Fee/Charge	Amount
Annual Fee	Rs. 2,500 (Only for Paid Variant)
Add-on Card Fee	Nil
Finance Charges (Interest Rate)	2.49% pm / 29.88% pa
ATM Cash Withdrawal Charges	Rs. 300
Late Payment Fee	For outstanding balance less than Rs. 500 – Rs. 100 For outstanding balance between Rs.500 and Rs. 10,000 – Rs. 500 For outstanding balance greater than Rs. 10,000 – Rs. 700
Overlimit Fee	Rs. 500
Cheque Bounce Charges	Rs. 500
Foreign Currency Markup	3.50% of the amount
Cash Payment Charges	Rs. 100
Card Reissue/Replacement Charges	Rs. 100
CIBIL Report Copy	Rs. 50

Eligibility

• Customer must have a Privy league banking relationship with the bank
• Applicant must be over 21 years of age but below 65
• Add-on cardholder should be over 18 years of age
• Customer must be resident in any one of the following cities; Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai and Pune
• Only Indian citizens can apply

Documents Required

Since customers are required to have maintained a prior relationship with the bank; therefore, the bank might not ask for additional documents. However, there might be an exception and the bank may ask applicant certain documents to establish proof of address, income and identity. In that case customer can submit any one of the following documents.

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
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
Proof of Income	Latest one or 2 salary slip (not more than 3 months old), Latest Form 16, Last 3 months’ bank statement

Customers who have maintained a Privy league relationship with the bank can apply for this credit card by getting in touch with their relationship manager at the bank. The relationship manager will then proceed ahead with the credit card application.
If customers do not have a Privy league relationship then they cannot get this credit card.

Who can apply for Kotak Mahindra Privy League Signature Credit Card?
Customers who have maintained Privy league relationship with Kotak Mahindra Bank may apply for this credit card.

What are the requirements to become a Privy league member?
To qualify as a privy league member the customer must meet the requirements of Maxima which are:

• Relationship value of Rs. 2 lakh while maintaining an average monthly balance of over Rs. 50,000 in savings or current account

Do note that Maxima Plan is available in select cities only for other cities customers must meet the eligibility criteria of Prima which are:

• Average monthly balance should be over Rs. 2.00 lakh in savings account/ Rs. 5.00 lakh in current account. Another option is that the customer maintain a Relationship Value of Rs. 10 lakh while maintaining an average monthly balance of Rs. 50,000 in current/saving account

What is the foreign currency mark-up fee on this credit card?
The foreign currency mark-up fee on this credit card is 3.50%

Is there an add-on card fee?
No, Kotak Bank does not charge a fee for an add-on credit card.