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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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Whom has the Silk Inspire Platinum Credit Card been designed for?

The Kotak Silk Inspire Platinum Credit Card has been exclusively designed for women to derive benefits on card spends. Your lifestyle requirements and the relevant benefits have been kept in mind so that you could derive the maximum out of it.

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What type of card is Kotak Silk Inspire Card?

The Kotak Silk Inspire Platinum Credit Card is a VISA Chip Platinum Credit Card.

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Why should I choose a Kotak Silk Inspire Platinum Chip Credit Card? Are there any specific benefits that I get?

Kotak Silk Inspire Platinum Credit Card offers a unique feature on every purchase that you make and its credit card design is a work of art from Bharti Dayal, an exceptional painter from the heartland of Mithila.

Get 5X Reward Points

Get up to 5X Reward points on every Rs. 100 that you spend on Apparel. And each reward is worth Re 1. So for every Rs. 100 that you spend on apparel, you save Rs. 5!*

*Minimum retail purchase in billing cycle = Rs. 7, 500 Maximum reward points in a month 500 valued at Rs. 500

The more you spend, the more you earn

What's more, you earn 1 reward point for every Rs. 200 you spend on other categories. So you save with every swipe!

Redeem your Reward Points

Reward Points can be redeemed for Cash, Airline Tickets, Merchandise, Mobile recharge and many more options!

Besides this, enjoy fuel surcharge waiver across all petrol pumps in India

Also enjoy Milestone feature where you will get 8 movie tickets or 2000 reward points every year.

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What type of card is Kotak Silk Inspire Card?

The Kotak Silk Inspire Platinum Credit Card is a VISA Chip Platinum Credit Card.

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What is the Annual & Joining Fee for this Card?

Please refer the below information:

Joining Fee

The Joining fee for Kotak Women's Platinum Credit Card is Rs. 599 +ST.*

*Joining Fees of Rs. 599 is applicable in the 1st Year and charged one time at the beginning of the year. It is billed in the 1st statement generated after credit card set up in the 1st Year.

Annual Fee

The Annual fee for Kotak Women's Platinum Credit ard is Rs. 599 +ST.

# Annual fee of Rs. 599 will be charged at end of the year if the below condition is not met.

Conditions for annual fee waiver for 1st Year: Minimum retail spends of Rs. 1, 25, 000 in the first year.

Conditions for annual fee waiver for 2nd Year and Onwards: Minimum retail spends of Rs. 1, 25,000 in second year and onwards.

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Is this card valid internationally?

Yes, the Kotak Silk Inspire Platinum Credit Card is valid internationally.

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Do I enjoy any interest free period on retail?

Yes, you enjoy an interest free period on retail transactions of up to 48 days.

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Do I enjoy any interest free period on cash?

The interest free period is limited only to the retail transactions & does not include cash transactions. The interest starts accruing from the date of cash withdrawal.

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What is the interest rate that is applicable to me?

The interest applicable to you is 3.50% per month

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When do you charge me an International markup fee?

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

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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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When do you charge me a late payment fee?

In a billing cycle your payment received till the payment due date is lesser than the minimum amount due it will attract late payment charges.

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How is the interest calculated on cash?

Please refer to 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%

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Am I entitled for an Add on credit card?

Yes, you can gift Add-On Credit card to daughter or mother as it is available on Silk Inspire Platinum Credit Card and comes complimentary to you.

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Are all the Kotak Silk Inspire Platinum Credit Card features available on the Add on card?

Yes, all Kotak Silk Inspire Platinum Credit Card features can be availed by your daughter/ mother.

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Will the Add-on Cardmember get separate reward points?

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.

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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 Silk Inspire Platinum Credit 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. 500 and the maximum is Rs. 3, 000.

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

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.

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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. 3, 500

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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:

  • 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.
  • Charges made on your lost or stolen credit card after you first reported the event to Kotak Credit Cards Customer Care.
  • Charges made on your credit card if your credit card has not been lost or stolen;
  • Cash advances made with your lost or stolen credit card;
  • 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 credit cards respectively.

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

Please follow the below steps:

  • In case your credit card is lost or stolen immediately call Customer Contact Center (1860 266 2666) and get your credit card deactivated / blocked / cancelled to prevent misuse .
  • 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.com for registering the claim
  • 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 credit 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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