Kotak Bank Privy League Visa Signature Credit Card: Benefits, Fees & Eligibility

Kotak Bank Privy League Visa Signature Credit Card

About Kotak Privy League Visa Signature Credit Card

Kotak Bank Privy League Visa Signature Credit Card is a premium credit card only for priority banking customers of Kotak Bank. You would be eligible for the card if you hold either Optima or Insignia bank accounts of Privy league with Kotak Mahindra. Save every time you apply for a Kotak Bank Credit Card

Also Check: Kotak Bank Credit Card Application Status


Benefits of Kotak Privy League Visa Signature Credit Card

Rewards

The user earns 5 reward points for every Rs. 100 spent on non-fuel retail spends. In some special categories for the two variants of Traveller’s Card and Shopper’s Card, the user can earn accelerated reward points.

Annual Fee Waiver

From the second year, you will get an annual fee waiver if you spend Rs. 75,000 annually from this credit card. You can avail refund for the first year spends on second year annual fee.

Milestone Benefits

The user can get 4 free movie tickets from PVR Cinemas as spend based milestone benefit. For this, you must have minimum monthly spends of Rs.1000 with this card which is easy to maintain.

Visa Air Lounge Access

You get quarterly complimentary domestic lounge access at select airports in India through Visa Access. Along with the free access, you can enjoy benefits such as meal, comfortable seating, widescreen TV, magazines, free Wi-Fi.

Fuel Surcharge Waiver

You get surcharge waiver for fuel transactions between Rs. 400 and Rs. 4000 made with Kotak Bank Privy League Signature Credit Card.

Railway Surcharge Waiver

Kotak Bank Privy League Signature Credit card benefits you by not paying additional surcharge for railway tickets booking made online through IRCTC official website. You can save a maximum of Rs.500 in a calendar year.

Flexible EMI  

All purchases with transaction value equal to or greater than Rs.3000 which is within 75% of prescribed credit limit can be easily converted to EMI.

You can avail all these benefits right now, by applying for this Kotak Bank Credit Card via CashKaro.


Why should you Sign-up for this card?

  • Reward Points
  • Visa Air Lounge Access
  • Free PVR Tickets every quarter
  • Fuel and Railway Surcharge Waiver
  • Very High Insurance Cover
  • Concierge Services

Kotak Privy League Visa Signature Credit Card Eligibility

  • This card is available only to Indian residents
  • For joining the Privy League Optima Plan, the customer should have an average quarterly balance of Rs.1 lakh and Rs.30 lakh as group relationship value
  • Privy League Magma Plan is available at an average quarterly balance of Rs.1 lakh and a group relationship value of Rs.15 lakhs

Documentation for Kotak Privy League Visa Signature Credit Card

  • PAN card
  • One passport sized photograph
  • Aadhaar card, Driving License, Voter’s ID, etc. for identity proof

Pros & Cons of Kotak Privy League Visa Signature Credit Card

Pros

  • Rewards for all your spends
  • Fuel and Railway Surcharge Waiver
  • Milestone Movie Tickets
  • Good for Priority Banking Customers
  • Concierge and Air Lounge Access

Cons

  • Higher Joining and Annual fees
  • Strict Eligibility
  • No Golf Privileges
  • Lower Reward Rate

Complain: Kotak Mahindra Credit Card Toll Free Number | Kotak Bank Toll Free Number


Kotak Privy League Visa Signature Credit Card Fees & Charges

Type of FeeCharges
Joining FeeRs. 7500
Annual FeeRs. 5000 (From 1st Year)
Fee Waiver ConditionMinimum retail spends of Rs. 750000 in the year
Reward Rate                0.375% to 0.75%
Fuel Surcharge WaiverMax up to Rs.4500 every year
Railway Surcharge WaiverMax Up to Rs. 500 every year
Late Payment Fee Rs. 0- Rs.100: Nil Rs.100- Rs.500: Rs.100 Rs.501- Rs.10000: Rs.500 Above 10000: Rs. 700
Cash Advance FeesRs.300 per Rs. 10,000 withdrawn
Over Limit PenaltyRs. 500
Finance Charges2.49% (Annualized 29.88%)

How to redeem the reward points?

Customers can redeem their reward points against a host of options like mobile recharges, air tickets and can choose from over 10,000 merchandises. The reward points can be redeemed online easily. You can also contact the customer service centre to get the auto redemption feature.


How to Apply for Kotak Privy League Visa Signature Credit Card?

Users can visit the BankBazaar website and select the credit cards tab. On the credit card homepage, one can choose to explore all cards as well as check one’s eligibility for specific cards.

After specifying any requirements, the user can choose and apply for the desired credit card. Fill all the required details and hit ‘Apply’.


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