Apply Student Credit Card Online with Zero Annual Fee - Kotak Bank


Credit cards are among the most popular financial tools available in the market. But did you know that they were equally popular among students too? Student credit cards can help you do so much more while not having to worry about the delay in funds. Credit cards for students are indeed a blessing in that sense.

And this is especially true for students who live away from their families, all by themselves, in alien cities. When they are all alone, they may worry about their next scholarship cheque coming through or whether or not their family can transfer the funds in time for their fees payment.

In a world full of opportunities, money is required at every step. And students… they have a vast variety of interesting career opportunities. They juggle through multiple streams to build a strong career graph. So, aiding them with student credit cards helps establish a good financial footing at a rather young age.

Credit Card for Students

Student credit cards allow college students to access credit. The criteria however, is bare minimum because students do not have any credit history as such. But what you must know is that a credit card for students is the best option to create a good credit history early on in life.

Students today are not only pacing ahead to improve academically, but they also believe in being financially secure. And which is why, instead of locking all funds through a single source they can opt for a credit card for students allowing them time for the payoffs.

But what’s more interesting is that student credit cards not only lift off the financial burden, but also gives you a chance to earn while spending. It’s possible, all thanks to an array of benefits these credit cards offer. Having a student credit card could totally feel like a magic trick up your sleeves. Because you are unstoppable, not because of shortage of funds at least!

But when it comes to credit cards, you need to be absolutely vigilant about the management of your credit card, failing which, penal interest charges can be levied or you may even get trapped in mounting debt. And then instead of building a good credit record, it will reflect poorly on your financial history. Understanding the basic concepts such as annual fees, interest rates, reward system, is crucial to save yourself from such unpleasant scenarios.

Another factor that weighs in with equal importance is choosing the right bank and right credit card. Kotak Mahindra Bank allows students to apply for 811 #DreamDifferent credit cards with their 811 #DreamDifferent bank account or even a Uni Student bank account. The 811 #DreamDifferent credit card is perfect to give flight to a student’s dreams. Here’s why.

Features and Benefits for Student Credit Cards

The 811 #DreamDifferent Credit Card can be set up through a fixed deposit at Kotak Bank and can be operated at zero annual fee. This helps the students to get a credit card even while they are not earning . The 811 #DreamDifferent credit card makes for a befitting student credit card and has many attributes that work in their complete favour of the students.

  • No need to pay any joining or annual fees
  • 811 #DreamDifferent Shield helps you secure your card in case of theft and fraudulent use
  • Activation bonus of 500 reward points post spends of Rs.5000/- after the card is set up
  • Impressive cashback offers on annual spends
  • Interest-free cash withdrawals upto 48 days
  • Credit limit upto 90% of the fixed deposit amount
  • Credit limit known upfront at the time of application
  • High credit limit upto Rs. 16 lakhs
  • Cash advance fee of Rs. 300/- per Rs. 10,000/- or part thereof
  • Earn 2 reward points for every online spend of Rs. 100 and 1 reward point for every offline spend of Rs.100
  • No additional costs on fuel and railway

Eligibility and Documents Required for Student Credit Card

A credit card for students at Kotak Mahindra Bank can be availed sans the hassle of heavy documentation. Not only does it allow students to fulfill their monetary requirements but in due course enables them to build a good credit score and receive impressive rewards from the bank. Here’s everything you need in order to get your student credit card.

With Uni Student Bank Account

Indian resident students in the age group of 18 to 25 years, and pursuing professional courses are eligible to open the Uni Student Bank Account. And thereby, also become eligible to apply for the 811 #DreamDifferent Credit Card for students. All you need to do is book a fixed deposit of Rupees 15,000/- or more.

With 811 #DreamDifferent Bank Account

Any Indian residents above 18 years and under 75 years can get this type of bank account. Income proof is not needed, so it is perfect for students. You just need to book a fixed deposit of Rupees 10,000/- or more and you can avail the benefits of 811 #DreamDifferent Credit Card.

How to Apply for a Student Credit Card?

The best part about a student credit card with Kotak is that it has a paperless application process with no joining fees or annual fees. Here’s what you need to do to apply for the 811 #DreamDifferent credit card for students -

  • Open the Kotak Mobile Banking app and login to your account. Head to the ‘Apply Now’ section and click on ‘Credit Card’.
  • Select 811 #DreamDifferent Credit Card to learn about its features and tap on ‘Continue’.
  • Choose your delivery address from the ones displayed on the screen.
  • Select the credit limit. The credit limit is 90% of your fixed deposit amount. The minimum amount of term deposits is Rs.10,000/- and Rs.9,000/- is the minimum credit limit. The maximum credit limit is Rs. 16 lakhs.
  • Ensure to set up the FDs and link it to get your student credit card. If you have the FDs, you can choose from one of the existing fixed deposits, and tap ‘Confirm.’ Please note that if you have FDs with a principal amount of less than Rs.10,000/- or entered credit limit, the existing FD will not be displayed.
  • After setting up your account, enter mandatory details like - the debit from the account, type of deposit, tenure etc. Tap on ‘Confirm.’
  • Confirm the FD details and ‘Accept’ the Terms and Conditions.

That's all you need to get your 811 #DreamDifferent student credit card. Once the process is done, an application reference number will be provided to you followed by your credit card within 7 working days.

The card holder will receive further correspondence on their registered email through a credit card e-statement.

The Fees and Card Limit of Student Credit Card

The 811 #DreamDifferent Credit Card for students comes at no joining fee or annual fee. The credit limit is 90% of the fixed deposit amount. The minimum amount of term deposits is Rs.10,000/- for 811 #DreamDifferent Bank Account, while Rs. 15,000/- for Uni Student Bank Account.

Student life is not just about books and academic scores. It’s also about having fun, learning, and seizing great opportunities. A student credit card is the perfect financial boon for such times. With cashbacks, discounts, and tons of other perks, the card allows you to build a good credit score during the academic period to help you avail loans with ease in the future. A student credit card at your disposal can help you tide over major expenses, be the most beneficial friend during your student years and help you build a great career. There are no two ways about getting one.

Ready to take the next step?

Frequently Asked Questions

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Can I get a student credit card without a job?

Yes, you can get a student credit card without a job or a credit history. Kotak Mahindra Bank allows students to apply for the 811 #DreamDifferent Credit Card against fixed deposits of a minimum of 10,000 rupees. You can get a credit limit of up to 90% of your fixed deposit amount. 

How to pay bills using the student credit card?

For online transactions, provide:

-          Card no

 

-          Expiration date

-          CVV

-          Name as on the card

-          Billing address

After that, enter the OTP sent on your registered mobile number to authenticate and complete the transaction.

For offline transactions:

-          Swipe your card at point-of-sales machine

-          Punch in your PIN to authenticate the transaction

-          Upon accepting the PIN the bank completes the transaction 

How can I get a student credit card?

Kotak Mahindra Bank allows credit cards for students against fixed deposits. You can open either a Uni Student Bank Account or an 811 #DreamDifferent Bank Account with the minimum amount FDs and then apply for an 811 #DreamDifferent Credit Card. It requires no income proof and charges you no joining or annual fees.

What is the maximum credit limit to avail for a student credit card?

The maximum credit limit which can be availed on the 811 #DreamDifferent credit card for students is Rs. 16 lakhs. You can enjoy upto a 90% of your term deposit amount as a credit limit. The minimum fixed deposit amount is 10,000 rupees.

What are the other options to send money to kids studying abroad?

You can send money to your kids studying abroad either through your bank or with the help of money transfer services. But do keep in mind the costs incurred such as transfer fees or factors like the exchange rate to be able to help your children rather than experience losses. 

Credit Cards

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