Silk Inspire Credit Card
Amazing benefits that match your style
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Make shopping rewarding. Explore the Kotak Silk Inspire Platinum Credit Card that understands your every need and is custom made just for you. The card design is a work of art from Bharti Dayal, an exceptional painter from the heartland of Mithila and will make the perfect companion in all your daily adventures.
Up to 5x reward points
More Rewards & Offers
Fuel Surcharge Waiver
Silk Inspire Shield
*Max Rewards on Apparel in a billing cycle is 500. Reward points earned on Apparel for the current month will be credited in the next billing cycle
**Reward points earned with purchases done on other categories will be given over and above the Reward Points earned for purchases done on Apparel Spends
***Applicable on transactions between Rs. 500 and Rs. 3, 000. Maximum Fuel surcharge waiver allowed in a calendar year is Rs. 3,500
|Fee & other Parameters||Silk Inspire|
|Joinig Fees||Rs. 599|
|Annual Fees||Rs. 599|
|Condition for waiver of Annual Fees - First Year||Minimum retail spends of Rs. 125000 in the first year of Card Account set up|
|Condition for waiver of Annual Fees - Second Year||Minimum retail spend of Rs. 125000 in the year|
|Addon card Fees||Nil|
|Interest Charges on outstanding Balances||3.40% (Annualized 40.8%)|
|2.99% (Annuanlized 35.88%) for credit card issued against Term Deposit|
|Minimum Amount Due (MAD) (It will reflect in statement in column of minimum amount due)||MAD can be 5% or 10% of TAD as decided by the Bank|
|ATM Cash Withdrawal/ Call a draft/ Fund Transfer/ Cash Advance per Rs. 10,000 or part thereof||Rs. 300|
|Late Payment Charges ("LPC")***||Rs. 100 for statement o/s less than or equal to Rs. 500.|
|Rs. 400 for statement o/s between Rs. 500.01 to Rs. 5000.|
|Rs. 500 for statement o/s between Rs. 5001.01 to Rs. 10,000. Rs. 700 for statement o/s greater than Rs. 10,000)|
|Over Limit Charge||Rs. 500|
|Cheque Bounce Charges||Rs. 500|
|Foreign Currency Mark Up||0.035|
|Railway Booking Surcharge (1.8%/2.5% on transaction amount)*||Applicable|
|Fuel Surcharge (2.5% on transaction)**||Waived|
|Fee for Cash payment at Bank||Rs. 100|
|Outstation Cheque Processing Fee||Waived|
|Reissue/ Replacement Card (per issunace)||Rs. 100 (Effective 22nd Feb, 2014)|
|Charge Slip Request||Waived|
|Machine Surcharge at ATMs||Waived|
|Balance Enquiry Charges at Non Parent Bank ATM||Waived|
|Duplicate Statement Request||Waived|
|Web Pay Service Fee||Waived (effective 10th JAN,2014)|
|Furnishing a copy of Credit Information Report (CIBIL) (Effective 5th April)||Rs. 50|
|Service tax & education cess, would be charged as per the rates approved in the Finance Act each year on all interest & fees and other charges levied on you Credit Card|
|*Maximum Railway surcharge waiver of Rs. 500 in a calendar year|
|** Fuel surcharge to be waived only for transactions between values of Rs. 500 - Rs. 3000. Maximum Fuel surcharge waiver of Rs. 3500 in a calendar year|
|^Fuel surcharge for Delight and Privy League to be waived only for transactions between values of Rs. 400 - Rs. 4000. Maximum Fuel surcharge waiver of Rs. 4500 in a calendar year|
|***Effective 15th June'2015 , the revised LPC slab willl be as below -|
|Rs. 100 for statement o/s less than or equal to Rs. 500.|
|Rs. 500 for statement o/s between Rs. 500.01 to Rs. 10,000|
|Rs. 700 for statement o/s greater than Rs. 10,000)|
|Credit Card expenses||Savings - Year 1||Savings - Year 2 onwards|
|5% rewards on Apparel spends on monthly spends of 10,000 *||6000||6000|
|Savings on spends done on other categories on monthly spends of 5000||300||300|
|Fuel Surcharge waiver across all petrol pumps in India **||3000||3000|
|Milestone Benefit of 4 PVR tickets or 1000 Reward Points on spending 1,25,000 every 6 months ***||2000||2000|
|Total Savings in a year||11300||11300|
|Joining fee ****||-599|
|Annual fee waiver on spends of Rs. 125000 in the previous year||-599|
|Net Savings in a year after paying the fees||10701||11300|
*Maximum reward points of 500 can be earned in a month for Apparel spends Subject to minimum of Rs. 7500 spends within the billing cycleReward points are offered on transactions undertaken at only those merchants' establishments which are classified under "Apparel" Merchant Category Code (MCC) as defined by VISA.
**Fuel Surcharge waiver is applicable on all transactions between Rs. 500 and Rs. 3000. Maximum fuel surcharge waiver allowed in a calendar year is Rs. 3500.
***For calculation purpose the average PVR tickets price has been taken as Rs. 250.****Joining fee of Rs. 599 is applicable in the 1st year and charged one time at the beginning of the year. It is billed in the first statement generated after card set up in the 1st year.
*****Annual fees of Rs. 599 will be charged in the beginning of the 2nd year. The annual fee can be waived off if the customers annual retail spends for the previous year are Rs1.25 lakhs. Similarly for subsequent years.
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.
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 credit cards respectively.
The monthly reward point's limit of 500 on Apparel transactions has been set up for the Primary & Add-On Credit card combined. Hence, your daughter/ mother will not get any separate reward points.The Kotak Silk Inspire Platinum Credit Card is a VISA Chip Platinum Credit Card.
The maximum eligible transaction amount for a single swipe is Rs. 3000. Hence maximum surcharge waiver can be Rs. 30 (currently at 1%) of Rs. 3000.
Maximum Fuel surcharge waiver allowed in a calendar year is Rs. 3, 500
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