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Frequently Asked Questions

Why should I select a Kotak Credit Card?

Kotak Credit Cards symbolize the following guiding principles:

Simplicity

Kotak Credit Cards are simple to understand and use. We have taken special care to make them hassle free so that you can spend time on more important things in life that require your attention.

Transparency

Kotak Credit Cards are transparent in communicating upfront what the card offers and what you would have to spend for it, if at all. We have taken care that there will be no hidden charges associated with this card.

Relevance

Kotak Credit Cards have understood what you need the most from your credit card, and have been designed to give you only those benefits that are most relevant for you.

This promise from Kotak ensures that you only get the best from your credit card!

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What is the insurance cover on the Kotak Credit Card?

On the Kotak Credit Card the insurance cover is for Lost/stolen card /fraudulent charges provided by New India Assurance Company Ltd.

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What does the Insurance cover include?

If your credit card is lost or stolen, New India Assurance Company Ltd will reimburse the unauthorized charges on your lost or stolen card, up to 7 days prior to your first reporting the event to Kotak Credit Card Customer Care.

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What does the insurance cover exclude?

New India Assurance Company Ltd will not pay for any expenses or loss for:

  1. Charges made on your lost or stolen credit card more than 7 days prior to your first reporting the event to Kotak Credit Cards Customer Care.
  2. Charges made on your lost or stolen credit card after you first reported the event to Kotak Credit Cards Customer Care.
  3. Charges made on your credit card if your credit card has not been lost or stolen;
  4. Cash advances made with your lost or stolen credit card;
  5. Charges incurred by a resident of your household, or by a person entrusted with your credit card.

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What is the total sum insured?

The sum insured is Rs. 25,000.00 / 50,000 / 75,000 / 2,50,000.00 per annum for Silver, Gold, Platinum/Titanium and Signature cards respectively.

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What do I have do, in case my credit card is lost or stolen?

Please refer the below information:

  1. In case your card is lost or stolen immediately call Customer Contact Center(1860 266 2666) and get your card deactivated / blocked / cancelled to prevent misuse .
  2. You are required to register a claim with the Insurance Company and can contact HDFC ERGO General Insurance Company at 1800 2700 700 or send an email at bankclaims@hdfcergo.comfor registering the claim
  3. Send a copy of the Customer Dispute Form to the Bank . You can either fax us at 022-66466901 or mail a scanned copy at service.cards@kotak.com

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What happens if the Insurance Company approves my claim?

If the insurance claim is approved by the Insurance Company the disputed transaction amount[s] would be credited to your card account, subject to the eligible insurance amount. In case the disputed amount exceeds the eligible claim amount you shall be liable to pay for the excess amount of the disputed transaction(s) as reflecting in your Kotak Credit Card Statement.

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What happens if the Insurance Company rejects my claim or I fail to register a claim with the Insurance Company?

In case if you fail to register your claim with the Insurance Company or if your claim is rejected by the Insurance Company you will be liable to pay the amount of the disputed transaction(s) as reflecting in your Kotak Credit Card Statement.

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On what is the waiver applicable?

On purchasing of rail tickets online at www.irctc.co.in the customer is levied a 1% surcharge and on purchasing of rail tickets from the Indian Railways Booking Counters customer is levied a 1% surcharge. The Delight Platinum Card offers you Waiver of this surcharge of 1 % that is levied.(ST Applicable)

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Is the waiver applicable on the delivery charge?

No. There is no waiver applicable on the delivery charge.

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What is the maximum surcharge waiver that I can get?

You can earn up to Rs. 500 annually as Railway Surcharge waiver.

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Is there a special service offered while canceling the tickets?

No there is no special service offered. The surcharge will be automatically reversed if you cancel the tickets.

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Where is the waiver valid?

Most credit card companies have tie-ups with only a select oil companies and hence the waiver is valid only at select petrol pumps, but Kotak Aqua Card will offer the customer fuel surcharge waiver across all domestic petrol pumps.

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What is the minimum/ maximum transaction amount for a single swipe?

The minimum is Rs. 400 and the maximum is Rs. 4000.

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What is the maximum fuel surcharge waiver that I can get on a single transaction?

The maximum transaction amount for a single swipe is Rs. 4500. Hence the maximum surcharge waiver can be Rs. 40 (1% of Rs. 4000).

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Is there any monthly or annual cap on how much surcharge can I earn?

Maximum Fuel surcharge waiver allowed in a calendar year is Rs. 4500

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How is it different from the regular service of cash withdrawal at the ATMs?

Cash withdrawal at an ATM is only possible if you remember your Credit Card PIN, incase you have forgotten the same please walk into our Kotak Mahindra Bank branch and withdraw cash from your credit card by producing relevant ID Proofs.

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How do I avail this service?

The customer can avail of the service by walking into the branch, going to a teller's counter and providing the teller with his Kotak credit card and his Photo ID proof.

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What are the ID proofs that can be accepted for the same?

The following can be used - Driving License, Passport, PAN card, Voters ID.

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Is there a registration required?

No there is no need for a registration. Just walk into any of the Kotak Mahindra Bank branches to avail the facility.

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What is the maximum that I can withdraw at the branch through my credit card?

You can withdraw a maximum of Rs. 25000 per day - ATM withdrawal, Cash withdrawal at Branch & Funds transfer - all combined together.

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In addition to cash withdrawal fee is there any other service fee for branch withdrawal?

There is no other fee which is applicable apart from the cash withdrawal fee. Only a cash withdrawal fee of Rs. 300 per Rs. 10000 as is applicable for an ATM withdrawal which will be charged to your credit card account.

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How do I transfer the funds online?

The customer using his Kotak Credit Card can transfer funds into any of his existing Kotak Mahindra Bank accounts. Just walk in to a branch with your credit card and a valid identity proof and ask for a fund transfer into your account.

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Do I need to register for the same?

No, customer does not need to register for the same.

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How much time it will take for the funds to get transferred into my account?

Once you have placed your request, it will take minimum 36 hrs for the transfer to take place.

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When can I issue cheques from my account after the transfer?

You can issues cheques / instructions for payment as soon as the funds get transferred into your account.

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Do I have to pay anything to use this service?

No, this service comes to you at no extra charge. Only a cash withdrawal fee of Rs. 300 per Rs. 10000 as is applicable for an ATM withdrawal which will be charged to your credit card account.

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What is the maximum that I can transfer at the branch through my credit card?

You can withdraw a maximum of Rs. 25000 per day - ATM withdrawal, Cash withdrawal at Branch & Funds transfer - all combined together.

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Is it possible without having applied for Internet banking password?

No customer requires to log in with Username and Password for fund transfer.

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Can I transfer funds into another Kotak Mahindra Bank account / credit card account but which is not owned by me?

No, the transfer can happen only into your account.

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What is the maximum that I can transfer online through my credit card?

You can withdraw a maximum of Rs. 25000 per day - ATM withdrawal, Cash withdrawal at Branch & Funds transfer - all combined together.

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How do I get the draft made?

Just call our customer care service request for a demand draft. You can also log on to www.kotakcards.com and follow the simple instructions given online to request for a draft.

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Can the DD be delivered at the beneficiary's address given by the card holder?

No the delivery can happen only at the customers registered address.

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What is the maximum value of the draft that I can get?

The maximum value for which you can get a draft is your available cash balance as at the time of placing the request.

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Can I get a draft in a third party name?

No, the draft will only be made in the card holder's name.

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Whom has the Fortune Gold Card been designed for?

The Kotak Fortune Gold Card has been specifically designed for enterprising businessmen. We have kept in mind the major spend areas for you, such that we give you the most relevant benefits & you can derive the maximum out of it.

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What type of Card is Fortune?

The Kotak Fortune Card is a VISA Gold Card.

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Why should I choose a Fortune Card? Are there any specific benefits that I get?

Only Kotak Fortune Gold Card offers you a unique combination of affordable and easily accessible cash - all year round. We give you not only interest free period on cash advances & a higher cash limit of 50% but we are also available to you at any ATM, Kotak Mahindra Bank branch, online or even on phone.

Besides this, enjoy complete railway surcharge waiver & exciting EMI & BT plans that no one else offers.

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What is cash limit on the Card?

Cash limit on the card refers to the percentage of your credit limit which you can take as a cash advance. While most other gold cards offer a 40% cash limit on joining only Kotak Fortune gives you a higher cash limit of 50%.

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What is the Annual & Joining Fee for this Card?

There is no annual or joining fee for the Kotak Fortune Gold Card. Kotak Fortune Gold Card is free for life.

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Is this Card valid internationally?

Yes, this Card is valid internationally.

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Do I enjoy any interest free period on cash?

Yes, only Kotak Fortune Gold Card offers you a interest free period on cash advances of up to 48 days.

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How is the 48 days calculated for interest free cash period? How will I be charged from the 49th day?

Please refer the below information:

Interest charges = (Number of days for which a balance is held) * (Amount) * (Daily rate of interest).

Daily rate of interest = (Monthly interest rate) * 12/365

Daily rate of interest = (3.5%) * 12/365 = 0.1118%

Please note that the per day interest rate in the above calculation is for illustration purpose only and the actual applicable rate shall be as prevailing and quoted in the schedule of charges.

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Is there any interest free period on Retail transactions?

Yes, you also enjoy a interest free period on your retail transactions for up to 48 days.

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When do you charge me a Mark Up?

A Mark up is charged to the tune of 3.5% every time you do an international transaction. Cash and Retail transactions will both attract a Mark up.

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When do you charge me an over limit charge?

If your transactions cross 100% of your credit limit, you will be charged a flat over limit fee of Rs. 500 in each billing cycle that you are over limit.

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Am I entitled for an Add-on Card?

Yes, Add-on Cards are available on Fortune Gold Card for a one time fee of Rs. 299 per card.

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Are all the Fortune features available on the Add-on Card?

Yes, all Fortune features are available for the Add-on card holder except the following:

  • Cash Withdrawal - at branch
  • Demand Draft - online
  • Demand Draft - on call

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Is there a rewards program on Fortune Gold Card?

There is currently no rewards program on the Fortune Gold Card.

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How is it different from the regular service of cash withdrawal at the ATMs?

Kotak not only gives access to its own network of more than 300 ATMs but also gives you the benefit of withdrawing from any other VISA ATM at absolutely no extra charge. You just have to pay a cash withdrawal fee of Rs. 199 per Rs. 10,000 or part thereof.

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What is the cash withdrawal fee?

Cash withdrawal fee refers to the charge which is levied every time you withdraw cash from an ATM. Only Kotak Fortune Gold Card charges a minimal Rs. 199 per Rs. 10,000 withdrawn at any ATM - Kotak or any other VISA ATM.

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What is the maximum that I can withdraw at the ATM?

You can withdraw a maximum of Rs. 25000 per day - ATM withdrawal, Cash withdrawal at Branch & Funds transfer - all combined together.

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