This article provides a concise overview of the prominent features, eligibility prerequisites, and the application procedure for Kotak Mahindra Bank Limited’s METRO Kotak Credit Card.
Features of Kotak Mahindra Bank Limited – METRO Kotak Credit Card:
Main features:
- Shop and earn cashback on bulk purchases both at METRO stores and online.
- Enjoy a 48-day interest-free credit period, allowing customers to increase spending and expand their businesses. Plus, access exclusive offers at METRO.
- Elevate your business with the METRO Kotak Credit Card!
- Save more, grow more with the Metro Kotak Credit Card.
- Earn up to 1% cashback on Metro Spends*, with a cap of INR 10,000 per statement cycle.
- Cashback Structure:
- Monthly Minimum Spend Slabs:
- INR 10,001 to INR 30,000 Spends – 0.25% Cashback INR 30,001 to INR 5 Lakh – 0.50 % Cashback
- Above INR 5 Lakh – 1% Cashback
- Receive an activation benefit of up to Rs. 500 cashback on your first swipe within 30 days of card issuance, applicable on a transaction value of Rs. 10,000 in a day.
Additional Features:
- Simplify your purchases effortlessly.
- Total monthly transactions capped at Rs. 700,000.
- Monthly Minimum Spend Slab.
- Cashback Structure.
- Breakdown of Spend Categories for the total monthly transaction.
- Cashback Calculation.
- Cashback Amount:
- 0-10,000 = 0% 10,000 = 10,000 * 0% = 0
- 10,001-30,000 = 0.25% 20,000 = 20,000 * 0.25% = 50
- 30,001-5,00,000 = 0.50% 470,000 = 470,000 * 0.50% = 2,350
5,00,001 = 1% 200,000 = 200,000 * 1% = 2,000
- Total Cashback for the Month: Rs. 4,400
- ** Maximum Monthly Cashback: INR 10,000
- ** Slab Calculation based on Incremental Value only.
- Introducing Rupay Contactless—a swift, secure method of payment. Simply tap your Metro Kotak Bank Credit Card for transactions up to INR 5000 without a PIN.
- Stress-free transactions with Contactless technology.
- No PIN required—just tap your credit card on the reader.
- Keep your credit card in your possession, reducing the risk of loss or counterfeit.
- Multi-layered security ensures safety from fraudulent or unauthorized transactions during payments.
Fees for Kotak Mahindra Bank Limited – METRO Kotak Credit card:
- Joining Fees: Not Applicable
- Annual Fees: Not Applicable
- Condition for Joining Fee Waiver: Not Applicable
- Condition for Annual Fee Waiver: Not Applicable
- Add-on Card Fees: Not Applicable
- Interest Charges on Outstanding Balances: 3.5% (Annualized 42%)
- Minimum Amount Due (MAD): 10%
- ATM Cash Withdrawal/Call a Draft/Fund Transfer/Cash Advance per Rs. 10,000 or part thereof: Rs. 300
- Late Payment Charges (LPC):
- Rs. 100 for outstanding statement balances up to Rs. 500.
- Rs. 500 for outstanding statement balances between Rs. 500.01 to Rs. 10,000.
- Rs. 700 for outstanding statement balances greater than Rs. 10,000.
- Over Limit Charge: Rs. 500
- Cheque Bounce Charges: Rs. 500
- Foreign Currency Mark Up: Not Applicable
- Railway Booking Surcharge (1.8%/2.5% on transaction amount)*: Not Applicable
- Fuel Surcharge (1% on transaction)**: Not Applicable
- Fee for Cash Payment at Bank: Rs. 100
- Outstation Cheque Processing Fee: Waived
- Reissue/Replacement Card (per issuance): Rs. 100
- Charge Slip Request: Waived
- Machine Surcharge at ATMs: Waived
- Balance Enquiry Charges at Non-Parent Bank ATM: Waived
- Duplicate Statement Request: Waived
- Web Pay Service Fee: Waived
How to apply?
Click here to apply for the Kotak Mahindra Bank Limited’s METRO Kotak 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.