This article provides a concise overview of the prominent features, eligibility prerequisites, and the application procedure for Kotak Mahindra Bank Limited’s 811 #DreamDifferent Credit Card.
Features of Kotak Mahindra Bank Limited – 811 #DreamDifferent Credit Card:
Main features:
- Reward Points
- Earn 2 reward points for every Rs. 100/- spent online
- Earn 1 reward point for every Rs. 100/- spent on other* purchases
- Activation Offer
- Get 500 bonus reward points on activation + Rs. 5000/- spent within the first 45 days of card setup#
- Interest-Free Cash Withdrawal
- Withdraw cash up to 90% of your total credit limit.
- Processing fee: Rs. 300 per Rs. 10,000/- withdrawn
- Enjoy up to 48 days interest-free period on cash advances
- Balance Transfer
- Processing fee: Rs. 349/- per Rs. 10,000/-
- Extend the interest-free period on new retail purchases
- Quick and Simple – Call us to transfer balances from your other credit cards.
Additional Features:
- Add-on Card Benefits
- Enjoy all the privileges of your primary card on your Add-on Card
- Set spending limits as per your preferences for each Add-on Card
- Track expenditures separately for each Add-on Card
- Fuel and Railway Surcharge Waivers
- 1% waiver across all petrol pumps for transactions between Rs. 500/- and Rs. 3000/- (maximum Rs. 3500/year)
- 1.8% for transactions on irctc.co.in & 2.5% at Indian railway booking counters (maximum Rs. 500/year)
- Verify your eligibility for the 811 #DreamDifferent Credit Card
- Explore additional credit card options tailored to your needs
- The revised reward system is effective from June 15th, 2020
- Reward points are not granted on fuel and railway expenses due to the card’s surcharge waiver for these categories
- Reward points are not accrued on cash withdrawals
- Rewards earned from spending before June 15th, 2020, remain unchanged
- #The activation offer applies to all cards issued on or after June 15th, 2020
- Please Note:
- The Aqua Gold Credit Card has been rebranded as the 811 #DreamDifferent Credit Card starting July 15th, 2020
- Card Replacement & Renewal for Logo 210 (811 #DreamDifferent Credit Card – Gold Variant):
- Card replacement requests can be initiated by either the Primary or Add-on cardholder. Both cards will be replaced regardless of the requester. If initiated by the primary cardholder, both cards must be active. The cards will be switched from the Gold variant to the Platinum variant.
- Card renewal is an automated process. If a customer holds both Primary & Add-on cards, both will be renewed. However, if the primary card is up for renewal, both cards must be active for renewal from the Gold variant to the Platinum variant.
Fees for Kotak Mahindra Bank Limited – 811 #DreamDifferent Credit card:
- No joining fees are applicable.
- Annual fees are nil for the card.
- No conditions for waiving annual fees in the first or subsequent years.
- Add-on card fees are not charged.
- Interest charges on outstanding balances are 3.50% (Annualized 42%).
- The minimum amount due (MAD) is set at 10%.
- ATM cash withdrawal, draft call, fund transfer, or cash advance fees amount to 2.5% on the advance amount or ₹500, whichever is higher.
- Late payment charges vary based on the outstanding amount.
- There are no over-limit charges.
- Cheque bounce charges are 2.0% on the bounce amount or ₹500, whichever is higher.
- Foreign currency markup stands at 3.5%.
- Railway booking surcharges are waived.
- Fuel surcharges are waived for transactions between Rs. 500 – Rs. 3000, up to a maximum of Rs. 3500 annually.
- A fee of Rs. 100 is applicable for cash payments at the bank.
- Outstation cheque processing fees are waived.
- Reissue or replacement of the card incurs a charge of Rs. 100.
- Charge slip requests are waived.
- Machine surcharges at ATMs are waived.
- Balance enquiry charges at non-parent bank ATMs are waived.
- Duplicate statement requests are waived.
- Web pay service fees have been waived since January 10th, 2014.
- Credit limit increase processing incurs a fee of Rs. 100.
- Rent payments are charged at 1% of the transaction amount for specific merchant category codes (MCC 6513).
- Pre-closure charges for personal loan on credit cards amount to 3% on the outstanding principal.
- GST and applicable taxes are charged as per the rates approved in the Finance Act each year on all interest, fees, and other charges levied on the credit card.
- The maximum railway surcharge waiver is capped at Rs. 500 annually.
- The fuel surcharge is waived only for specific transaction values and is capped at a maximum waiver of Rs. 3500 in a calendar year.
- The interest charges on outstanding balances for the 811 #DreamDifferent Credit Card have been revised to 3.50% (Annualized 42%) effective June 20th, 2021.
How to apply?
Click here to apply for the Kotak Mahindra Bank Limited’s 811 #DreamDifferent Credit Card.
Note: The information presented here is sourced from publicly available data. We cannot be held responsible for any inaccuracies in the details. For the most current and accurate information, please visit the official website of the respective bank.