Kotak Biz Business Credit Card – Benefits, Fees & Eligibility

Introduction

The Kotak Biz Business Credit Card, issued by Kotak Mahindra Bank, is specifically designed for entrepreneurs, business owners, and self-employed individuals to simplify business expense management. Positioned as a mid-range business credit card, it offers a robust rewards program with accelerated points on business-related spending categories, complimentary domestic lounge access, and comprehensive insurance benefits including travel insurance and credit liability cover. The card aims to provide convenience and peace of mind for managing business operations efficiently.

Fees

• Joining Fee: ₹299 + GST
• Annual Fee: ₹499 + GST
• Foreign Currency Markup: 3.5%
• Interest Rates: 3.5% Monthly (42% Annually)
• Fuel Surcharge Waiver: 1% for transactions between ₹500 and ₹5000, with a maximum waiver of ₹2500 in a calendar year.
• Railway Surcharge Waiver:
  • 1.8% for transactions on www.irtc.co.in
  • 2.5% for transactions on Indian Railways Booking Counters
  • Maximum railway surcharge waiver of ₹500 in a calendar year.
• Cash Advance Charges: ₹300

Rewards

• Rewards Rate:
  • Earn 4 Reward Points for every ₹100 spent on specific business-related categories: Travel and Tour Operators & Domestic Airlines, Direct Marketing/Advertising Services, Supermarket, Hotels, Motels, and Resorts.
  • Earn 1 Reward Point for every ₹100 spent on all other eligible transactions.
  • Reward points are not applicable on wallet loading, fuel, rent, and online-based gaming transactions.
• Travel Benefits:
  • Domestic Lounge Access: 1 complimentary domestic lounge access per calendar quarter, contingent on spending ₹75,000 or more in the previous calendar quarter.
  • Travel Insurance Program:
    • Flight Delay (more than 6 Hours): ₹10,000
    • Carrier Cancellation: ₹10,000
    • Loss of Checked-In Baggage: ₹10,000
    • Delayed Checked-In Baggage: ₹10,000
    • Missing International Connecting Flight During Transit: ₹10,000
    • Valuable Documents Cover (Loss of Passport and Travel Related Documents): ₹10,000
• Insurance Benefits:
  • Credit Liability Cover: ₹50,000 (includes Lost Card Liability, Counterfeit/Skimming/Phishing, and Online Fraud Protection).
  • Purchase Protection Plan: Up to ₹25,000.
• Biz Launchpad:
  • A platform for business owners to avail extra discounts.
  • Explore, buy, and manage various software brands and solutions.
  • Renew subscriptions at available discounts.
  • Get quotes and explore best prices.
  • Avail pre-sales and post-purchase services.
  • Currently, save up to 75% on tax filing services with ClearTax.
• Enhanced Card Security:
  • Embedded EMV Chip for additional security.
  • 6-digit PIN authentication for higher security of transactions.

Rewards Redemption Guide

• Reward points can be redeemed at the Kotak Rewards Portal against flights, hotels, vouchers, merchandise, and more. No minimum points are required for redemption at the portal.
• Reward points can also be redeemed for cashback to your account.
• Redemption Value:
  • Currently, each point is valued at ₹0.25.
  • With effect from June 1, 2025, the cash value for redemption will be revised from ₹0.25 to ₹0.20 per reward point. For redemption against categories like Mobile Recharge, Shopping, etc., 1 Reward Point = ₹0.25.
• Cashback Redemption Minimum:
  • Currently, a minimum of 4,000 points is required for cashback redemption.
  • With effect from June 1, 2025, a minimum of 2,000 Reward Points will be required for cash value redemption.

Card Eligibility Criteria

• Applicant Type: Self-Employed, Proprietors, or Partners of Partnership firms.
• Age: Minimum 21 years to a maximum of 65 years.
• Income: Minimum annual income tax return of ₹4.8 lakh and above.
• Residency: Applicants should be residents of India.

Card Review

The Kotak Biz Business Credit Card is an ideal choice for entrepreneurs and business owners who frequently incur expenses in business-related categories such as travel, hotels, and advertising. It offers a straightforward rewards structure, complimentary domestic lounge access (with a spend condition), and essential insurance coverage. The card comes with reasonable joining and annual fees.

Pros

• Ideal for entrepreneurs and business owners.
• Offers accelerated reward points on specific business-related categories.
• Includes complimentary domestic lounge access.
• Provides comprehensive travel insurance and credit liability cover.
• Features an interest-free period of up to 48 days on retail transactions.
• Enhanced security with EMV chip and 6-digit PIN.

Cons

• Limited reward categories compared to some other cards.
• Does not offer international lounge access or other international travel benefits.
• No welcome bonus or milestone benefits.
• No general spend-based fee waiver.
• Domestic airport lounge access is conditional on spending ₹75,000 in the previous calendar quarter.

Important Product Details

• The card is a Visa Platinum variant.
• It is valid for international transactions.
• Comes with an annual fee of ₹499 + GST.
• Offers 4 reward points for every ₹100 spent on select business categories and 1 reward point for every ₹100 on other eligible purchases.
• Includes travel insurance, purchase protection, and credit liability coverage.
• Provides an interest-free period of up to 48 days on retail transactions.
• Features embedded EMV Chip and 6-digit PIN authentication for enhanced security.

Other Details

• For further details on reward points, categories, capping, and other charges, refer to the Most Important Terms & Conditions (MITC).
• For insurance policy details and claim processes, specific documents and procedures apply.
• In case of a lost/stolen card or suspicious transactions, cardholders are required to immediately contact the Customer Contact Centre at 1800 266 4545 or email care@kotak.com to deactivate/block the card and register a claim with the Insurance Company. Claim documents must be submitted within 60 days from the date of intimation.