Kotak Privy League Signature Credit Card

The Kotak Privy League Signature Credit Card is an exclusive offering from Kotak Mahindra Bank, tailored for its Privy customers. Available in two versions, one free and one paid, it lets you opt for either the Shopper’s or Traveller’s Plan to match your spending preferences. The Shopper’s Plan rewards you with bonus points on specific retail shopping categories, while the Traveller’s Plan does the same for select travel categories.

In addition to regular reward points, you can earn bonus points by reaching predefined milestones. Both variants provide complimentary domestic lounge access and Priority Pass membership. However, the premium version offers an extra perk of four free international lounge visits through the Priority Pass program.

Key Highlights of Kotak Privy League Signature Credit Card

Key Highlights of Kotak Privy League Signature Credit Card:

  1. Reward Flexibility: Choose between Traveller’s Plan and Shopper’s Plan to tailor your reward scheme.
  2. High Reward Points: Earn up to 10x reward points on select categories, maximizing your earnings.
  3. Taj Epicure Plus Membership: Save at least 25% on dining bills at Taj Restaurants.
  4. Free PVR Cinema Tickets: Enjoy 4 complimentary PVR Cinema tickets every quarter.
  5. Concierge Services: Access a range of services including referrals, hotel reservations, and ticket booking.
  6. Fuel and Train Surcharge Waivers: Get surcharge waivers on fuel and train ticket bookings.
  7. Flexible EMI Options: Convert purchases into easy EMIs with a simple phone call.
  8. Competitive Interest Rates: Benefit from an attractive monthly interest rate of 2.49%.
  9. Quick Customer Service: Receive prompt assistance via SMS with a call back within 30 minutes.
  10. Travel Assistance: Access emergency travel assistance for hotel bill settlement and ticket booking.
  11. Lost Card Cover: Enjoy fraud protection worth Rs.1 lakh with both pre and post-reporting coverage.
  12. Enviable Privy League Benefits: Access additional privileges, such as free investment reports and preferential pricing for various products.

Features and Benefits of Kotak Privy League Signature Credit Card

Key Features and Benefits of the Kotak Privy League Signature Credit Card:

1. Flexibility in Reward Scheme:

  • Choose between Traveller’s Plan and Shopper’s Plan.
  • Tailor your rewards based on travel or shopping preferences.

2. Traveller’s Plan:

  • Earn 10x reward points on every Rs.100 spent on airlines, travel agencies, and hotels.
  • Get 5x reward points on other retail purchases.

3. Shopper’s Plan:

  • Receive 10x reward points for Rs.100 spent on jewelry, departmental stores, restaurants, apparels, and consumer durables.
  • Enjoy 5x reward points on other retail expenses.

4. Taj Epicure Plus Membership:

  • Save at least 25% on bills at Taj Restaurants.

5. Taj Benefits:

  • Save on room rates, coffee shop expenses, and earn epicure points.
  • Receive special vouchers for bars and restaurants.

6. Free PVR Cinema Tickets:

  • Enjoy 4 complimentary PVR Cinema tickets quarterly.

7. Concierge Services:

  • Access Kotak Mahindra Concierge services for referrals, hotel reservations, and more.

8. Fuel Surcharge Waiver:

  • 2.5% fuel surcharge waived for transactions between Rs.400 and Rs.4000.
  • Yearly cap at Rs.4500.

9. Train Ticket Surcharge Waiver:

  • Enjoy railway surcharge waiver when booking train tickets on IRCTC.

10. EMI Options for Costly Purchases:

  • Easily convert purchases into EMIs with a phone call.

11. Flexible EMI:

  • Convert purchases equal to or greater than Rs.3000 to EMI within 75% of your credit limit.

12. Balance Transfer:

  • No interest on purchases after balance transfers if fully paid before due.

13. Competitive Interest Rates:

  • Attractive monthly interest rate of 2.49%.

14. Quick Customer Service:

  • SMS for a call back within 30 minutes to resolve queries.

15. Travel Assistance:

  • Emergency travel assistance for hotel bills and ticket booking, both domestic and international.

16. Lost Card Cover:

  • Fraud protection worth Rs.1 lakh for 7 days before reporting and complete cover protection after reporting.

17. Enviable Privy League Benefits:

  • Access free membership to Privy League investment reports.
  • Enjoy minimal documentation for loan products and preferential pricing for various products and lifestyle benefits.

Kotak Privy League Signature Credit Card Fees and Charges

1. Joining Fees:

  • Regular: Nil
  • Premium: Nil

2. Annual Fees:

  • Regular: Rs. 2,500
  • Premium: Nil

3. Interest Charges on Outstanding Balances:

  • Regular: 2.49% (Annualized 29.88%)
  • Premium: 2.49% (Annualized 29.88%)

4. Minimum Amount Due (MAD):

  • Regular: MAD can be 5% or 10% of TAD as decided by the Bank
  • Premium: MAD can be 5% or 10% of TAD as decided by the Bank

5. ATM Cash Withdrawal, Draft, Fund Transfer, Cash Advance (per Rs. 10,000 or part thereof):

  • Regular: Rs. 300
  • Premium: Rs. 300

6. Late Payment Charges (“LPC”):

Regular:

  • Rs. 100 for statement o/s ≤ Rs. 500
  • Rs. 500 for statement o/s between Rs. 501 to Rs. 10,000
  • Rs. 700 for statement o/s > Rs. 10,000

Premium:

  • Rs. 100 for statement o/s ≤ Rs. 500
  • Rs. 500 for statement o/s between Rs. 501 to Rs. 10,000
  • Rs. 700 for statement o/s > Rs. 10,000

7. Over Limit Charge:

  • Regular: Rs. 500
  • Premium: Rs. 500

8. Cheque Bounce Charges:

  • Regular: Rs. 500
  • Premium: Rs. 500

9. Foreign Currency Mark Up:

  • Regular: 2%
  • Premium: 3.5%

10. Fee for Cash Payment at Bank:

  • Regular: Rs. 100
  • Premium: Rs. 100

Kotak Privy League Signature Credit Card Eligibility

Here are the key eligibility criteria for the Kotak Privy League Signature Credit Card:

  1. Privy League Banking Relationship required for primary cardholder.
  2. Primary cardholder’s age: 21-65, add-on cardholder’s age: 18+.
  3. Eligible locations: Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai, and Pune.
  4. Applicants must be Indian residents.

Documents Required for Kotak Privy League Signature Credit Card

For the Kotak Privy League Signature Credit Card, you’ll typically need the following documents:

  1. Identity Proof: Aadhaar card, Passport, Voter ID, or any government-issued photo ID.
  2. Address Proof: Utility bills, Passport, Aadhaar card, or any document verifying your residence.
  3. Income Proof for salaried individuals: Salary slips, bank statements, or Form 16.
  4. Income Proof for self-employed individuals: Income Tax Returns (ITR), financial statements, or business proof.
  5. Passport-size photographs.
  6. Duly filled credit card application form.

How to apply for Kotak Privy League Signature Credit Card

Apply for a Kotak Privy League Signature Credit Card with these simple steps:

  1. Getting a Kotak card is hassle-free.
  2. Apply online by clicking “Apply Now” on your screen.
  3. Submit essential documents for KYC: Aadhaar card, Voter card, driver’s license, etc.
  4. For proof of income, provide salary slips (salaried) or ITR (self-employed).
  5. Simple steps to secure your Kotak card.

Frequently Asked Questions (FAQs)

1. What is the Kotak Privy League Signature Credit Card?

The Kotak Privy League Signature Credit Card is an exclusive credit card offering from Kotak Mahindra Bank, designed to cater to the financial needs and lifestyle preferences of high-net-worth individuals.

2. What are the key features of the Kotak Privy League Signature Credit Card?

The card offers a range of features, including high credit limits, reward points on spending, airport lounge access, concierge services, and exclusive privileges at partner merchants.

3. How can I apply for the Kotak Privy League Signature Credit Card?

You can apply for the card online through the Kotak Mahindra Bank website or by visiting a Kotak Mahindra Bank branch. The application process typically involves submitting personal and financial information.

4. What is the eligibility criteria for the Privy League Signature Credit Card?

Eligibility criteria may include a minimum income requirement, age criteria, and a good credit score. Specifics can vary, so it’s advisable to check the bank’s website or contact customer service for the latest information.

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

The annual fees, joining fees, and other charges may vary. These details are usually provided in the terms and conditions or during the application process. It’s recommended to review the latest fee structure before applying.

6. How does the rewards program work for this credit card?

The Kotak Privy League Signature Credit Card typically offers a rewards program where you earn points for every eligible transaction. These points can be redeemed for a variety of rewards, including merchandise, travel, or cashback.

7. Do I get any travel benefits with this credit card?

Yes, the Privy League Signature Credit Card often provides travel benefits such as airport lounge access, complimentary travel insurance, and other privileges. The extent of these benefits can vary, so it’s important to review the terms and conditions.

8. What is the credit limit on the Kotak Privy League Signature Credit Card?

The credit limit is determined based on various factors, including your income, credit history, and the bank’s internal policies. The assigned limit will be communicated to you upon approval of your credit card application.

9. How can I check my credit card statement and manage my account online?

You can access your credit card statement and manage your account through the Kotak Mahindra Bank’s online banking portal or mobile app. These platforms usually provide features for checking statements, making payments, and tracking rewards.

10. What should I do if my Kotak Privy League Signature Credit Card is lost or stolen?

In case of loss or theft, it’s crucial to contact the Kotak Mahindra Bank customer service immediately to report the incident. The bank will guide you through the process of blocking the card and issuing a replacement.