Introduction: Hello friends, today we are here with Kotak Aqua Gold Credit Card Benefits, fees and application process. Kotak Mahindra bank is one of the leading Private sector banks in India which will provide a large range of credit card products consisting of so many categories like Dining, Shopping Lifestyle, entertainment and cards for the class of Indians. Out of all Kotak Credit cards, this credit card offered by Kotak is an excellent card which is mainly introduced to help you in saving money in the form of cash withdrawals with no interest, waivers on fuel surcharge and this card come free of cost for a lifetime and have no annual fee charged on it which leads to more savings.
A guide to Kotak Mahindra Bank Aqua Gold Credit card
Adding to this, there are many more benefits such as free tickets at PVR and a cashback of an amount of Rs.750/-. This credit card will be available only to Term Deposit Account Holders with Kotak Bank.
There are many Aqua Gold Credit card benefits
- As informed earlier, this credit card is mainly available for the Term Deposit account holders and there are the people who will be able to enjoy the credit limit up to 80% of the outstanding balance in the account. Even you will be eligible for a credit limit up to a maximum amount of Rs.12 lakhs.
- All the credit cards present in the country will bill an average surcharge on fuel for 2.5% on the amount of purchase. By making use of this Aqua Gold credit card, you will be able to receive a waiver on a surcharge on the transactions between the amounts of Rs.500/- to Rs.3,000/-. These credit cardholders will be able to receive benefits on waiver up to an amount of Rs.3,500/- in one year which will again help you to save money.
- Usually, withdrawals of cash will be billed as a one time fee and the charges of interest will be at a rate which is more than that of purchases. By making use of this credit card, you will have a maximum of 48 days to make a payment without any charges on interest. You will also be able to withdraw up to 90% of the limit on the credit at any time in the year.
- If you are a person who loves to travel frequently and make use of Indian Railways mostly, this credit card will provide you with a waiver of 1.6% on the railway surcharge when you are making a booking on the official website of IRCTC and 2.5% for the transactions which are made at counters.
You may also be interested in HDFC Snapdeal Credit Card Benefits.
Features of Kotak Mahindra Bank Aqua Gold Credit card
- If you are paying a high amount of interest for the outstanding balance on the credit cards of other banks, then you can make use of the option of balance transfer for making savings on interest. Kotak bank will allow you to make balance transfers from other credit cards at a processing fee of just an amount of Rs.349/- per an amount of Rs.10,000/-.
- Adding to all the benefits which are mentioned above, you will also have an option to get add-on cards for your loved members of your family with the same amount of benefits which you have on your primary credit card. You can set credit limits individually and then monitor it easily.
- You will be able to earn 1X reward points on every amount of Rs.125/- you spend on retail purchases.
- If your credit card has been lost or stolen, you will be able to receive a cover worth an amount of Rs.50,000/- against any unauthorized or fraudulent usage of the credit card up to 7 days of pre-reporting. When you lost the credit card, you will have to immediately give a call to customer care centre by dialling the number 1860 266 2666 and make sure that the card is blocked or deactivated and them register a claim with the Insurance company.
- If you spend an amount of Rs.1,50,000/- in a year, then you will be able to receive 4 tickets at PVR or a cashback of an amount of Rs.750/-. You can also select from the following redemption options.
1st redemption option
- You can use all these PVR tickets for any day and any show and these are also transferable.
- Star Passcode will be issued to you which you can redeem later for the purchase of PVR movie tickets online.
- You will also be able to claim your tickets at PVR within 3 months after the program is over.
2nd redemption option
- The cashback will be reflected in your coming billing cycle.
- You will also be able to claim the cashback within three months after the program is complete.
Documentation required for the application of Kotak Bank Aqua Gold Credit card
This credit card will be available only on the basis of Term Deposit accounts handled by the Kotak Customers. The credit limit on this card and other terms will be determined based on the balance which is held in a Term deposit. The minimum amount of deposit which is required is an amount of Rs.25,000/- and only individual Term Deposit account holders are allowed.
Eligibility Criteria for the application of Kotak Bank Aqua Gold Credit card
- The main applicant has to belong to the age group of 18 to 75 years.
- The applicant has to be a resident of India.
You may also check the Bajaj Finserv Platinum Credit Card Benefits.
Kotak Mahindra Bank Aqua Gold Credit card fees and charges
- No fee is charged as joining fee on this credit card
- No annual fee will be charged on this credit card.
- No fee will be charged for add-on cards.
- Charges of interest on the outstanding balance amount are 2.99% per month which would be summed up to 35.88% per year.
- Minimum amount due on the outstanding balance amount will be 5% or 10% of the TAD which will be decided by the bank. This Minimum amount of balance will be reflected in the statement in the column of the Minimum amount due.
- Fee for cash withdrawal at an ATM or Transfer of funds or cash advance per an amount of Rs.10,000/- or part of it is an amount of Rs.300/-
- Charges for late payment will be an amount of Rs.100/- if the outstanding balance is up to an amount of Rs.500/-. If the amount of outstanding balance is between Rs.501/- to Rs.10,000/-, the late payment charge will be Rs.500/-. An amount of Rs.700/- will be charged as a late payment fee if the outstanding balance amount more than Rs.10,000/-.
- Charges of over-limit is an amount of Rs.500/-.
- Cheque bounce charge is an amount of Rs.500/-.
- Mark-up fee for foreign currency transactions is 3.5% of the amount of transaction.
- Fuel surcharge will be 1% which will be waived off.
- Railway surcharge will be 1.8% for online purchases and 2.5% for counter purchases which will be waived off.
- Fee for payment of cash at bank is an amount of Rs.100/-.
- Processing fee for outstation Cheque is waived off.
- Fee for re-issue or replacement of card is Rs.100/- per issuance.
- Fee on request for charge slip is waived off.
- Surcharge on ATM machines is waived off.
- Charge on requesting credit information report is an amount of Rs.50/-.
- Visit any of your local branch of Kotak Mahindra Bank branch for for any updated current information.