Kotak Essentia Platinum Credit Card

The Essentia Platinum card from Kotak Mahindra Bank, while an entry-level credit card, can be incredibly rewarding when aligned with your spending patterns. It stands out as the most lucrative option for grocery and essential expenses in the Indian market. If this is your primary card usage, don’t hesitate to apply for the Essentia Platinum credit card; it’s a solid choice. With a 10% return on grocery spending in the form of Saving Points, which can be redeemed through Kotak Rewards or used as cash at partner merchants, this card offers great value.

Features and Benefits of Kotak Essentia Platinum Credit Card

Here are the features and benefits of Kotak Essentia Platinum Credit Card:

  1. Earn 1 Saving Point for every Rs.250 spent on various categories.
  2. Flexible redemption options, from cash to airline tickets and more.
  3. Exclusive promotional offers like dining deals and vacation discounts.
  4. Priority customer service with KASSIST for quick assistance.
  5. Add-on cards with individual spending limits and tracking.
  6. Contactless payment for secure and convenient transactions.
  7. Milestone rewards – Spend Rs.1.25 lakh in 6 months to earn 1200 Reward Points or 6 PVR tickets. Redeem for PVR tickets or other rewards!

Kotak Essentia Platinum Credit Card Fees and Charges

Fees and Charges of Kotak Essentia Platinum Credit Card are as follows:

  1. No spend-based waiver available.
  2. No fee for rewards redemption.
  3. Foreign currency markup is 3.5% plus GST.
  4. Interest rates: 3.50% per month or 42% annually.
  5. Fuel surcharge applicable with a minimum of Rs. 10.
  6. Cash advance charges are Rs. 300 for every Rs. 10,000 or part thereof withdrawn.
  7. An add-on card fee of Rs. 299 per card applies.

Kotak Essentia Platinum Credit Card Eligibility

To be eligible for the Kotak Essentia Platinum Credit Card:

  1. Primary cardholder: Age between 21 and 65 years.
  2. Add-on cardholder: Must be 18 years or older.
  3. Available in select locations: Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai, Navi Mumbai, and Pune.
  4. Applicant must be a resident of India.

Documents Required for Kotak Essentia Platinum Credit Card

To apply for a Kotak Bank Essentia Platinum Credit Card, you need to prepare a set of documents for customer due diligence and KYC purposes. These documents include:

1. Proof of Address Documents:

  • Aadhaar card
  • Passport
  • Voter ID
  • Driving license
  • Ration card
  • Rent agreement
  • Utility bills

2. Proof of Identity Documents:

  • PAN card
  • Aadhaar Card
  • Voter ID
  • Passport
  • Ration card
  • Driving license

3. Proof of Income Documents:

  • Salary slips
  • Bank statements

How to apply for Kotak Essentia Platinum Credit Card

To apply for a Kotak Essentia Platinum Credit Card, you can follow these general steps:

1. Check Eligibility:

  • Before applying, ensure that you meet the eligibility criteria specified by Kotak Mahindra Bank. These criteria may include factors like age, income, credit score, and other specific requirements.

2. Visit the Kotak Mahindra Bank Website:

  • Go to the official Kotak Mahindra Bank website.

3. Navigate to Credit Cards Section:

  • Find and navigate to the “Credit Cards” section on the website.

4. Choose Kotak Essentia Platinum Credit Card:

  • Select the Kotak Essentia Platinum Credit Card from the list of available credit cards.

5. Fill in the Application Form:

  • You will typically find an online application form for the Kotak Essentia Platinum Credit Card. Fill in the required details, including personal information, contact details, employment details, and financial information.

6. Submit Documents:

  • Upload the necessary documents as per the bank’s requirements, such as proof of identity, proof of address, and proof of income.

7. Review and Submit:

  • Review the information you’ve provided in the application form to ensure accuracy. Once you’re satisfied, submit the application.

8. Verification and Processing:

  • Kotak Mahindra Bank will review your application and the attached documents. They may contact you for any additional information or clarification.

9. Approval:

  • If your application is approved, you will receive an approval notification. The bank will also specify the credit limit you are eligible for.

10. Card Delivery:

  • Once approved, Kotak Mahindra Bank will dispatch your Kotak Essentia Platinum Credit Card to your registered address. This may take a few days.

11. Activate Your Card:

  • Upon receiving the credit card, you’ll need to activate it as per the instructions provided by the bank. This often involves calling a designated phone number or using online banking services.

Frequently Asked Questions (FAQs)

1. What is the Kotak Essentia Platinum Credit Card?

The Kotak Essentia Platinum Credit Card is a premium credit card offered by Kotak Mahindra Bank. It comes with a range of benefits, rewards, and features tailored to meet the lifestyle needs of cardholders.

2. How can I apply for the Kotak Essentia Platinum Credit Card?

You can apply for the Kotak Essentia Platinum Credit Card online through the official Kotak Mahindra Bank website or by visiting a Kotak Mahindra Bank branch. The application process typically involves filling out an online form and submitting the required documents.

3. What are the key features of the Kotak Essentia Platinum Credit Card?

The key features include milestone benefits, fuel surcharge waiver, reward points on transactions, exclusive lifestyle privileges, and complimentary insurance coverage.

4. What are the annual fees and charges associated with this credit card?

Details regarding annual fees, renewal fees, and other charges can be found on the Kotak Mahindra Bank website or provided in the card’s terms and conditions. These fees may vary, and some may be waived based on spending patterns.

5. How do the reward points work on the Kotak Essentia Platinum Credit Card?

Cardholders earn reward points for eligible transactions, and these points can be redeemed for a variety of options such as merchandise, vouchers, or statement credit. The reward point earning structure is usually outlined in the card’s terms and conditions.

6. Is there a joining bonus with the Kotak Essentia Platinum Credit Card?

Some credit card promotions may include a joining bonus. Details about any ongoing offers, including joining bonuses, can be obtained from the official Kotak Mahindra Bank website or customer service.

7. Can I convert my purchases into easy EMIs with this credit card?

Yes, Kotak Essentia Platinum Credit Cardholders usually have the option to convert their purchases into easy monthly installments (EMIs). Terms and conditions, as well as interest rates, may apply.

8. What kind of insurance coverage is offered with the Kotak Essentia Platinum Credit Card?

The credit card may offer insurance coverage such as air accidental death coverage, lost card liability, and more. It’s important to review the insurance benefits and coverage limits in the card’s terms and conditions.

9. How can I check my Kotak Essentia Platinum Credit Card balance and statements?

Cardholders can check their balance and access statements through the Kotak Mahindra Bank online banking portal, mobile app, or by contacting the customer service helpline.

10. What should I do if my Kotak Essentia Platinum Credit Card is lost or stolen?
In case of loss or theft, immediately contact Kotak Mahindra Bank’s customer service to report the incident. The bank will guide you through the process of blocking the card and issuing a replacement.