Kotak 811 Credit Card
MyRupaya Ratings
Product Details
Credit Card Name :
Kotak 811 Credit Card
Bank Name :
Kotak Mahindra Bank
Type :
Lifestyle Credit Card
Interest Rate :
Interest Rate: 3.5% per month, 42% per year
Eligibility :
Primary Credit Card holders should be in the age bracket of 18 years to 65 years. Add-on Card holder should be 18 years and above
Location - Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai and Pune
Should be a resident of India
Pros
Welcome Benefit: Customers get 500 Reward points on activation and spending INR 5000 in the first 45 days.
Reward System: Customers get 2 Reward Points per Rs. 100 on online spending and 1 Reward Point per Rs. 100 on offline spending. 1 RP = 0.25 Paisa. Online CB Rate:0.5%, and General CB Rate: 0.25%.
Other Benefits: Lost card cover worth Rs. 50,000 applicable 7 days prior to reporting the loss of card.
Cons
Extremely basic credit card.
Limited value add featues.
Low cashback rate.
The maximum railway surcharge waiver that is allowed in a calendar year is Rs.500/-
Fuel transactions are not eligible to earn any Reward points
Pros & Cons
Welcome Benefits
500 Reward points on activation and spending INR 5000 in the first 45 days.
Rewards System
Customers get 2 Reward Points per Rs. 100 on online spending and 1 Reward Point per Rs. 100 on offline spending.
1 RP = 0.25 Paisa.
Online CB Rate:0.5%, and General CB Rate: 0.25%.
International Forex Markup
Welcome Benefits and Reward System
Special Features
Eligibility Criteria
Primary Credit Card holders should be in the age bracket of 18 years to 65 years. Add-on Card holder should be 18 years and above
Location - Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai and Pune
Should be a resident of India
Benefits
Lifetime free: There is no annual fee or joining fee for the 811 Credit Card.
Accelerated reward points earning: Cardholders earn 2 reward points for every INR 100 spent online.
High credit limit: Cardholders can avail a credit limit of up to 90% of their fixed deposit amount.
Global acceptance: The 811 Credit Card is accepted at over 2 million merchants worldwide.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
To apply for the Kotak Mahindra Bank's 811 Credit Card, you can follow these steps:
Login to your Kotak 811 account.
Click on the "Apply Now" button for the 811 Credit Card.
Enter your personal and financial information, including your income and employment status.
Select your credit limit.
Submit your application.
You will receive a decision on your application within a few days.
If your application is approved, you will receive your credit card within 7-10 working days.
Contact Details
1860 266 2666
Account Opening and Procedure
Recommended Credit Cards
Pros:-
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Cons:-
Welcome Benefit: Customers get 500 Reward points on activation and spending INR 5000 in the first 45 days.
Reward System: Customers get 2 Reward Points per Rs. 100 on online spending and 1 Reward Point per Rs. 100 on offline spending. 1 RP = 0.25 Paisa. Online CB Rate:0.5%, and General CB Rate: 0.25%.
Other Benefits: Lost card cover worth Rs. 50,000 applicable 7 days prior to reporting the loss of card.
Extremely basic credit card.
Limited value add featues.
Low cashback rate.
The maximum railway surcharge waiver that is allowed in a calendar year is Rs.500/-
Fuel transactions are not eligible to earn any Reward points
This card is a good option if you're a beginner with limited credit history and want a no-frills, lifetime-free card with basic benefits. However, the card provides a very low reward rate and charges high processing fees. Also, being an entry-level card it provides very limited features and offers.
Kotak 811 Credit Card
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
Joining Fees: Rs. 500
Annual Fees: Rs. 500 Condition for waiver of Joining Fees NA Condition for waiver of Annual Fees Rs. 50,000.
Interest Charges on outstanding Balances 3.5% (Annualized 42%) .
Cash Advance Charges: Rs. 300 per Rs. 10,000 withdrawn.
Late Payment Charges ("LPC") Rs. 100 for statement o/s less than or equal to Rs. 500. Rs. 500 for statement o/s between Rs. 500.01 to Rs. 10,000 Rs. 700 for statement o/s greater than Rs. 10,000.
Foreign Currency Mark Up 3.5%.
Fuel Surcharge
Billing Cycle
30 Days