Whether you’re shopping online or swiping your card at the counter, good credit cards provide you with an array of benefits. Convenience in borrowing funds, reward points, cashback, and added perks make credit cards a must-have item.
The Royale Signature Card by Kotak Bank comes with all these advantages and more. It not only gives you a premium edge, but it also offers plenty of good rebates on your spendings. So, it helps you make the most of your shopping and travel experience.
Kotak Bank is also known for its reliable customer service and tested security system. With great rewards and relatively affordable cost, Kotak cards can boost your finances. Read on to know more about the benefits of Kotak Bank's credit card.
Features and Benefits of the Royale Signature Card
The Royale Signature card adds a premium touch to your wallet with its number of features and perks. The reward scheme is pretty lucrative with a chance to earn up to 4X points on every Rs. 150 spent.
The points can be redeemed against a host of options like recharge, tickets, merchandise, and much more. It also offers great travel perks like complimentary access to airport lounges, meals, magazines, free WiFi, etc.
Kotak also provides you with credit card fraud coverage of Rs. 2,50,000. Apart from that, you also get surcharge waivers on fuel and railways. All these features make the card stand out from other Kotak Bank offerings.
Eligibility Criteria
The eligibility criteria for Kotak's credit cards are easy to meet. To start with, the primary cardholder must fall in the age range of 21 years to 65 years old.
The card is only available to Indian citizens who are residents of Ahmedabad, Chandigarh, Bangalore, Delhi (including Gurgaon and Noida), Chennai, Hyderabad, Kolkata, Pune, and Mumbai.
Apart from that, you should have a minimum annual income of Rs. 24 lakhs to be eligible. For verification, you must provide personal documents like PAN card, KYC, proof of income, and proof of address.
How to Apply
Applying for a Kotak Bank credit card is a fairly easy process involving the following steps. Visit the official Kotak bank website and go to the credit card menu.
Open the Royale Signature Card section and click the “Apply Now” icon. Submit all the applicant details, such as your name, age, date of birth, address, income, expenses, PAN card, and other info.
The bank will inform you within a few minutes if you are eligible for the card. Once approved, you will have your Royale Signature Card with you in the next 7-10 working days.
Alternatively, you can also start your application by directly visiting the nearest Kotak branch in serviceable cities.
Interest Rates and Fees
The Royale Signature card is a great option if you are looking for a new credit card. You’ll incur the following interest rates and additional charges on your Royale Signature card if you take it.
- Annual fee: Rs. 999
- Interest Charges on outstanding Balances: 3.4% (Annualized 37.2%)
- Cash Advance per Rs. 10,000 or part thereof: Rs. 300
- Foreign Currency Mark Up: 3.5%
- Late Payment Charges: Rs. 100 for outstanding balance less than or equal to Rs. 500. For the outstanding balance between Rs. 500.01, and Rs. 10,000, it’s Rs. 500
- Over Limit Charge: Rs. 500
- Cheque Bounce Charges: Rs. 500
- Fee for Cash payment at Bank: Rs. 100
- Replacement of Card: Rs. 100
Contact Info
If you need assistance with any credit card related issue, you can contact Kotak Bank representatives by calling 1860 266 2666. Kotak's head address is 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051.
Conclusion
The Royale Signature credit card stands at a good spot in the list of premium offerings by Kotak Bank. The attractive rebates on travel, dining, and leisure make it a great choice, given you manage your repayments well.
Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult the bank’s terms and conditions page before agreeing to anything.
