The Kotak 811 credit card is a unique financial companion backed by a fixed deposit, providing a secured credit card experience. This exceptional card brings many advantages, including fuel and railway surcharge waivers and exclusive milestone-based offers. Let’s explore the various benefits that make Kotak 811 credit card a preferred choice.
Benefits of the Kotak 811 Credit Card
The 811 #DreamDifferent credit card offered by Kotak Bank comes with exclusive benefits and rewards. Let’s explore the unique advantages that set this card apart from other credit cards.
Interest-Free Cash Withdrawal
With the Kotak 811 credit card, you enjoy interest-free cash withdrawals. You can withdraw up to 90% of your credit limit without incurring charges. A nominal processing fee of Rs 300 is applicable for every Rs 10,000 withdrawn. Furthermore, the first 48 days of cash advance are entirely interest-free.
Hassle-free Balance Transfer
Transferring balances from other credit cards to your 811 #DreamDifferent credit cards are a breeze. For every Rs 10,000 moved, a processing fee of Rs 349 is charged. However, no interest will be levied on the transferred amount if you use your card for fresh retail purchases.
Efficient Expense Tracking
Utilising credit card statements as an expense tracker offers an efficient way to monitor your monthly spending. These statements provide a detailed breakdown of your expenditures, allowing you to analyse your financial habits and make informed decisions about your budget.
Enhanced Safety and Security
In India, credit cards offer a higher safety level than carrying large sums of cash. Using a credit card eliminates the risk of losing physical currency due to mishaps like dropping money or falling victim to pickpocketing. Additionally, if your credit card is lost or stolen, promptly notifying your bank ensures a quick replacement, minimising potential financial losses.
Positive Impact on Credit Score
A less-known benefit of credit cards is their positive impact on credit scores. Credit bureaus like CIBIL assess individuals based on their payment history and financial responsibility.
Timely repayment of credit card dues contributes to an improved credit score, enhancing your creditworthiness. This advantage is not available with traditional cash or cheque transactions and is crucial in obtaining quick approvals for Loans and credit cards in the future.
811 #DreamDifferent Shield
Protecting your card against loss or theft is made easy with the 811 #DreamDifferent Shield. You will be covered for up to Rs 50,000 if you inform the bank within seven days of misplacement or theft within seven days. Contact the Customer Contact Centre at 1860 266 2666 to register a claim and promptly block or deactivate your card.
Fuel and Railway Surcharge Waiver
Enjoy attractive waivers on fuel and railway transactions with this free credit card apply. For petrol pump transactions between Rs 500 and Rs 3,000, you’ll receive a 1% waiver, up to a maximum of Rs 3,500 per year. Additionally, you’ll get a release of 1.8% for transactions on the IRCTC website and 2.5% for railway counter bookings, up to a maximum waiver of Rs 500 annually.
Milestone Program for Bonus Offers
Beyond the regular rewards, the Milestone Program offers enticing bonuses with this free credit card application. You become eligible for these rewards if you spend Rs 75,000 using your card in an anniversary year. You have two options to choose from:
Option 1 – Rs 750 Cashback: Claim a cashback of Rs 750 after the anniversary year, which will reflect in your next billing cycle.
Option 2 – 4 Free PVR Tickets: Claim four free PVR tickets within three months of the end of your anniversary year. The transferable tickets can be used for any show on any day. You will receive a Star Pass Code for online redemption through the PVR Cinema website.
Fees of Kotak 811 Credit Card
| Particulars | Charges |
| Annual Fees | NIL |
| Joining Fee | NA |
| Interest on Payments | 3.50% (Annualised 42%) |
| Minimum Due Requirement | 10% |
Eligibility Criteria of Kotak 811 Credit Card
To be eligible for this credit card, the primary cardholder must be –
- Should be a resident of India.
- Age must be between 18 to 75 years.
- Add-on cardholders should be 18 years old or above.
- The minimum fixed deposit required to apply for the card is Rs 10,000. Only individual fixed deposits are allowed.
Conclusion
The Kotak 811 credit card offers a unique and secure credit card experience backed by a fixed deposit. This exceptional card has many advantages, including fuel and railway surcharge waivers, interest-free cash withdrawals, and milestone-based bonus offers.
The Kotak 811 credit card is a preferred choice among other credit cards. Take the first step towards unlocking your spending power with the Kotak 811 credit card today.
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