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    Monday, August 10

    Kotak Mahindra Bank Limited – NRI Royale Signature Credit Card : Features, Eligibility, and Application Process

    Credit Cards 5 Mins Read

    This article provides a concise overview of the prominent features, eligibility prerequisites, and the application procedure for Kotak Mahindra Bank Limited’s NRI Royale Signature Credit Card.

    Kotak Mahindra Bank Limited NRI Royale Signature Credit Card

    Features of Kotak Mahindra Bank Limited – NRI Royale Signature Credit Card:

    Main features:
    • Get 2 rewards for international expenditures.
    • Earn 2 rewards for spending outside India; i.e. get 2 rewards points for every Rs. 200/- spent.
    • Gain 1 reward point for every Rs. 200/- spent within India.
    • Collect your reward points and use them for various redemptions like movie tickets, airfare, cash, and more.
    • 1 Reward Point equals Re 1/-.
    • Purchase and pay in INR with flexibility.
    • When traveling to India, avoid mark-up fees on your internationally issued credit card or the hassle of currency exchange.
    • Enjoy the convenience of paying in Indian Rupees for your shopping, travel, and dining.
    • Fuel surcharge waived.
    • Applicable for transactions between Rs. 500 and Rs. 3000.
    • Maximum fuel surcharge waiver in a calendar year is Rs. 3500.
    • Railway surcharge waived.
    • Save on railway surcharge for transactions on www.irctc.co.in and at Indian Railways Booking Counters. Maximum railway surcharge waiver in a calendar year is Rs. 500/-.
    Additional Features:
    • Offer an Additional Card as a Gift
    • Extend the benefits of the NRI Royale Card to your spouse, parents, or children (above 18 years) by gifting them an additional card.
    • The additional card will be issued regardless of location or citizenship status.
    • A one-time fee of Rs. 599/- is applicable per additional card.
    • Travel in Comfort
    • Airport Lounge Access: Enjoy 2 complimentary visits every quarter to Dream Folks Lounges exclusively in India. Experience amenities such as gourmet meals, comfortable seating, widescreen TVs, newspapers and magazines, and free Wi-Fi.
    • Kotak Rewards:
    • Introducing Kotak Rewards – a simplified point redemption system for managing rewards points earned on your Kotak credit cards.
    • Redeem your points across various categories including Mobile Recharge, Shopping for 10,000+ products, E-vouchers from different brands, Movie tickets (BookMyShow Vouchers), Travel, and more! Terms and Conditions Apply. Redeem Now.
    • Payment with Reward Points:
    • Cashless and Cardless Payments – Use your reward points for transactions without cash or a physical card.
    Card Category: Travel + Reward

    Eligibility for Kotak Mahindra Bank Limited – NRI Royale Signature Credit card:

    To discover if you qualify for this exceptional credit card, explore the eligibility criteria designed for both salaried individuals and self-employed professionals below.

    For Salaried:
    • The primary credit cardholder must be between 18 and 75 years old.
    • Add-on cardholders must be 18 years old or older.
    • Eligibility for the credit card is limited to NRE/NRO account holders.
    • The credit limit can reach up to 80% of your Fixed Deposit (FD) amount.
    • The minimum FD amount is Rs. 1 lac.
    • Only individual FDs are permissible.
    For Self-employed:
    • The primary credit cardholder must be between 18 and 75 years old.
    • Add-on cardholders must be 18 years old or older.
    • Eligibility for the credit card is limited to NRE/NRO account holders.
    • The credit limit can reach up to 80% of your Fixed Deposit (FD) amount.
    • The minimum FD amount is Rs. 1 lac.
    • Only individual FDs are permissible.
    Fees for Kotak Mahindra Bank Limited – NRI Royale Signature Credit card:
    • Joining Fees: None
    • Annual Fees: Rs. 1000
    • Condition for Annual Fee Waiver – First Year: Not Applicable
    • Condition for Annual Fee Waiver – Second Year: Not Applicable
    • Add-on Card Fees: Rs. 599 per additional card
    • Interest Charges on Outstanding Balances: 3.10% (Annualized 37.2%)
    • Minimum Amount Due (MAD): MAD can be 5% or 10% of Total Amount Due (TAD) as determined by the Bank, shown in the statement’s minimum amount due column.
    • 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: 3.5%
    • Railway Booking Surcharge (1.8%/2.5% on transaction amount): Waived
    • Fuel Surcharge (1% on transaction): Waived
    • 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
    • Please Note: GST/Applicable taxes will be charged as per approved rates in the Finance Act each year on all interest, fees, and other charges levied on your Credit Card.
    • Maximum Railway Surcharge waiver of Rs. 500 in a calendar year.
    • Fuel surcharge waived for transactions between Rs. 500 – Rs. 3000. Maximum Fuel Surcharge waiver of Rs. 3500 in a calendar year.

    How to apply?

    Click here to apply for the Kotak Mahindra Bank Limited’s NRI Royale Signature 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.

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