Terms & Conditions

Silk Savings Programme Terms and Conditions

Silk Savings Programme can be offered to/held by only resident Indian woman customers above 18 years of age. Silk savings programme can be held/opened as sole or joint account. Primary account holder should be a woman in case of joint account. Silk Savings Programme cannot be offered to/held by Minors, Non Residents, Foreigners, Customer having Small or BSBDA accounts. Eligible Schemes for Silk Savings Programme are Ace, Pro, Classic, Nova, Platina and Edge. Classic and Nova schemes are offered in rural /semi urban locations only.

The terms and conditions applicable for the benefits of Silk Savings Programme are mentioned below, the same is not exhaustive and customers would need to visit the relevant sections of other products to see all terms & conditions

The benefits offered herein under the Silk Savings Programme is complimentary to customers and is in addition to the existing product features and pricing benefits customers avail as part of their Savings Account. Customers will be governed by Savings Account Terms and conditions as defined by Kotak Mahindra Bank.

1. Kotak Rewards

Kotak Rewards feature where customer can earn up to 1500 Kotak Reward Points on purchases carried out through use Silk Platinum Debit Card and redeem points across categories like groceries, apparel, jewellery, hotel, dining etc. T&C Apply.

Terms and Conditions:

• Rewards are subject to meeting of minimum Average Monthly Balance requirement and minimum spends criteria
• The spends should be on Silk Platinum Debit Card. Spends should be on domestic merchant transactions using Debit Card
• The reward points will be credited every month for the previous calendar month in your Kotak Rewards account. Validity of reward points will be 1 year from the date of credit
• Details of the same will be communicated through email on registered email id and SMS on registered number.
• ATM cash withdrawals are not eligible for Rewards
• In the event of non-receipt of Reward points credit confirmation within the subsequent month from the last day of qualifying month, customers to contact their relationship manager/branch/customer service helpline within 50 days from the date of qualifying for the rewards. Any claims of non-receipt of the rewards beyond the stipulated period shall not be entertained.
  

2. Kotak Silk Platinum Debit Card

Kotak Silk Debit Card customer can spend without worry, anywhere, anytime and enjoy the advantage of higher withdrawal limits with no annual fees on Ace Accounts

3. Locker Discount

Offer: Silk Savings Programme Customer can avail 50% discount on locker rental for the First Financial year

Terms and Condition:

Lockers are subject to availability. Discount applicable for locker allotment in the financial year of enrolling for Silk

4. Two Wheeler Loan

Offer:

• Flat ROI @ 9.49% p.a.
• Zero Processing Fees

Disclaimer:

Two Wheeler loans is a product of Kotak Mahindra Prime Ltd which is a subsidiary of Kotak Mahindra Bank Ltd. Available at select locations. *Flat Rate of 9.49% will translate to an approx. ROI of 17.50% p.a. Mandatory fees and stamp duty charges as applicable. Loan sanction and disbursement will be subject to complete documentation and credit at sole discretion of Kotak Mahindra Prime Ltd and subject to guidelines issued by RBI from time to time. CIN: U67200MH1996PLC097730 Registered office address: 27BKC, C27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai- 400051.

Women special offer is applicable to existing Kotak Group female customers. Offer is applicable only for Female applicants taking loan on a Scooter. Offer applicable on select Electric Scooters as well.

5. Car Loan:

Offer:

Disclaimer:

T&C Apply, Credit at sole discretion of Kotak Mahindra Prime Ltd.

6. Gold Loan:

Offer- Zero processing fees for Silk accounts

Terms and conditions

Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.

Loan to Value ratio as prescribed by RBI from time to time. Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets. Available in select locations only.

7. Personal Loan

Offer:  Flat processing Fee of Rs. 999/-

Disclaimer:

Terms & Conditions apply. Credit at the sole discretion of Kotak Mahindra Bank Ltd. and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets. Personal Loan will not be disbursed if the Savings Account is in dormant or freeze state. To activate your dormant account, please visit the nearest Kotak branch.

8. Urban Company

Offer:

• 20% instant discount up to INR 350 on a minimum list price of INR 799
• Offer can be availed making the payment using a Kotak Silk Platinum Debit Card
• Offer valid all days once per card per user per month
• Offer is valid on cleaning, repairs, women salon & spa

Offer Period: 31st December 2022 to 30th June 2023

Terms and Conditions:

• This Offer is made in association with Urban Clap Technologies India Pvt Ltd (Urban Company) for Kotak Debit Platinum Debit card.
• Offer valid once per card per user per month.
• Offer is valid on the minimum listed price of Rs.799 excluding any fee & charge at Urban Company Site and App.
• Offer is not applicable for card on delivery transactions, cash on delivery transactions and wallet transaction using card.
• Nothing expressed or implied in the offer shall in any way waive or amend any of the terms and conditions of the existing Kotak Debit/Credit Card member agreement with the Bank.
• The Offer is non-transferable, non-encashable and non-negotiable.
• Urban Company and Bank reserves the right, at any time without prior notice to Customers and without assigning any reason whatsoever, to add/alter/modify/change or vary all of these terms and conditions or to replace, wholly or in part, this offer by another offer, whether similar to this offer or not, or to extend or withdraw it.
• Disputes, if any, arising out of or in connection with this offer shall be subject to the exclusive jurisdiction of the competent courts in Delhi.
• The Bank holds out no warranty and makes no representation about the quality, delivery or otherwise of the goods and services facilitated by Urban Company. Any issue or dispute or claim regarding the goods and services must be resolved by the Customer directly with Urban Company without any reference to the Bank. For queries/complaints related to the offer, Kotak Debit/Credit Card members can reach out to Urban Company through the in-app chat option. The Customers agree and understand that Urban Company is a mere facilitator for the fulfilment of the order and will not be liable for any deficiency or defect in the Services supplied by the vendors associated with Urban Company.
• The Bank and Urban Company, reserve the right to disqualify any Customer from the benefits of the Offer if any fraudulent activity is identified as being carried out for the purpose of availing the benefits under the Offer or otherwise by use of the Kotak Silk Platinum Debit card.
• Participation in this offer is voluntary.
• Any Customer eligible for the Offer shall be deemed to have read, accepted and understood these terms and conditions, the general terms and conditions of the Bank and the terms and conditions of Urban Company before availing the Offer. The Bank merely facilitates its Customer to avail the Offer and it is in no way concerned or connected with the terms and conditions of Urban Company.
• The decision of the Bank and Urban Company in all matters in connection with and incidental to this Offer is final and shall be binding on all persons.
• The Bank and Urban Company reserve the right to disqualify any Customer from the benefits of the Offer if any fraudulent activity is identified as being carried out for the purpose of availing the benefits under the Offer.
• All taxes, duties, levies or other statutory dues and charges payable in connection with the benefits of the Offer shall be borne solely by the Customer and the Bank will not be liable in any manner whatsoever for any such taxes, duties, levies or other statutory dues and charges

9. NYKAA

Offer Construct: 10% instant discount on minimum spends of Rs.2,000 (maximum discount of Rs.250)

Validity: Offer period 1st January 2023 to 30th June 2023

Terms and Conditions:

• Cardholders can avail the offer once per card per calendar month during offer period to avail the discount
• It is an instant discount offer applicable before making payment with your Kotak SILK Platinum Debit Card, the discount amount shall be deducted from the amount payable by you
• The offer is valid for bookings done through the Nykaa website, M-Site or Mobile app
• Offer is valid during 1st January 2023 to 30th June 2023
• The offer cannot be clubbed with any other offer on Nykaa E-Retail
• Nykaa reserves the right at any time, without prior notice and liability and without assigning any reason whatsoever, to add/alter/modify/change or vary all of these terms and conditions or to replace, wholly or in part and to withdraw this discount at any time in its sole discretion
• Nykaa is the sole authority for interpretation of these terms
• In the event of any misuse or abuse of the offer by the customer, Nykaa reserves the right to deny the offer or cancel the order placed.
• In no event the entire liability of Nykaa under this offer shall exceed the transaction amount paid by the customer
• Nykaa shall not be liable to for any indirect, punitive, special, incidental or consequential damages arising out of or in connection with the offer
• These terms and conditions are governed by the laws of India and the courts at Bangalore will have exclusive jurisdiction over any matters/disputes arising out of or in relation to this discount
• By opting for this discount, every customer expressly agrees that neither Nykaa nor any of its affiliates will be liable or responsible for any loss or damage whatsoever that a customer may suffer, directly or indirectly, in connection with such discount that arises from such customer’s own act of omission or commission.
• The discount is completely optional and is chosen by the customer of his/her own volition. Any person availing this discount shall be deemed to have accepted these terms and conditions.

Bank Terms and Conditions:

• This Offer is made solely and entirely by Nykaa E-retail Limited (“Merchant Name”) to the customers of Kotak Mahindra Bank (“Bank”) holding Kotak Silk Platinum Debit Card (“Customers”).
• Offer is valid from 1st January 2023 to 30th June 2023 (“Offer Period”)
• Participation in this Offer is voluntary.
• The Offer is non-transferable, non-encashable and non-negotiable.
• Any Customer eligible for the Offer shall be deemed to have read, understood and accepted these terms and conditions, general terms and conditions of the Bank and terms and conditions of the Nykaa E-retail Limited in relation to the Offer before availing the Offer. Bank merely facilitates its Customers to avail the Offer and it is in no way concerned or connected in respect of the terms and conditions of Nykaa E-retail Limited
• The Bank and Nykaa E-retail Limited, reserve the right to disqualify any Customer from the benefits of the Offer if any fraudulent activity is identified as being carried out for the purpose of availing the benefits under the Offer.
• Bank and Nykaa E-retail Limited reserve the right, at any time, without prior notice and without assigning any reason whatsoever, to add/alter/modify/change or vary all or any of these terms and conditions or to replace, wholly or in part this Offer by another offer whether similar to this Offer or not or to extend or withdraw this Offer altogether.
• The Bank shall not be responsible or liable in any manner whatsoever for any deficiency or inadequacy in the services rendered by Nykaa E-retail Limited its agents or representatives and the Customer hereby understands, acknowledges and agrees not to hold the Bank responsible or liable for, any losses, damages, costs, charges, expenses, claims (whether direct or indirect), actions or demands suffered by the Customer in relation to availing the benefits under the Offer.
• The Bank holds out no warranty and makes no representation about the quality, delivery or otherwise of the goods and services offered by Nykaa E-retail Limited. Any issue or dispute or claim arising out of or in relation to availing the benefits under the Offer must be resolved by the Customer directly with 1800 267 4444 by writing to support@nykaa.com without any reference to the Bank.
• The decision of the Bank and Nykaa E-retail Limited in all matters in connection with and incidental to this Offer is final and shall be binding on all persons.
• Disputes, if any, arising out of or in connection with or as a result of above Offer or otherwise relating hereto shall be subject to the exclusive jurisdiction of the competent courts / tribunals in Mumbai.
• Offer is for one time use only and cannot be clubbed with any other Offer.
• Customers who fail to enter the promo code or using the wrong promo code shall not be eligible to avail the Offer. Bank shall, in no way, be liable in the event the Customer fails to enter the promo code or uses the wrong promo code resulting in Customer becoming ineligible to avail the Offer.
• All taxes, duties, levies or other statutory dues and charges payable in connection with the benefits of the Offer shall be borne solely by the Customer and the Bank will not be liable in any manner whatsoever for any such taxes, duties, levies or other statutory dues and charges

10. Dedicated help desk

• Dedicated helpdesk would be available for all Kotak Silk Savings Programme Customers
• The helpdesk service would be available on 8069695555 from 9:30 am to 6:30 pm (Monday to Saturday)

11. Silk offer Card

• Silk Offer Card is a physical card provided to Kotak Silk Savings Programme Customers, containing exclusive offers of lifestyle, travel, health & wellness and others.
• Kotak Silk Savings Programme customers can scan for QR on the physical card which will lead them to exclusive offers website
• Offers on the offer card are update on regular basis, customer needs to check the validity and latest offers to avail exclusive privileges
• Silk Offer Card once lost cannot be replaced