Kotak Infinite Credit – Benefits, Fees & Eligibility

Kotak Infinite Credit Card

The Kotak Infinite Credit Card is an exclusive, invite-only credit card designed for individuals who seek the best-in-class benefits and privileges. This card, specifically for Kotak Private Banking clients, offers a personalized card design, extensive golf privileges, and access to prestigious international events, catering to a lifestyle of high spending power and unique interests. Please note that this card has been discontinued for new applications, and the information provided is for existing cardholders only.

Fees

• Joining Fees: Nil
• Annual Fees: Nil
• Condition for waiver of Annual Fees - First Year: Not Applicable
• Condition for waiver of Annual Fees - Second Year: Not Applicable
• Add-on Card Fees: Nil
• Interest Charges on Outstanding Balances: 3.10% per month (Annualized 37.2%)
• Minimum Amount Due (MAD): Can be 5% or 10% of the Total Amount Due (TAD) as decided by the Bank.
• ATM Cash Withdrawal/Call a draft/Fund Transfer/Cash Advance: Rs. 300 per Rs. 10,000 or part thereof.
• Late Payment Charges (LPC):
  • Due as per last statement < ₹100: Rs. 0.0
  • Due as per last statement ₹100 - ₹500: Rs. 100.0
  • Due as per last statement ₹501 - ₹5,000: Rs. 500.0
  • Due as per last statement ₹5,001 - ₹10,000: Rs. 600.0
  • Due as per last statement ₹10,001 - ₹25,000: Rs. 800.0
  • Due as per last statement ₹25,001 - ₹50,000: Rs. 1000.0
  • Due as per last statement > ₹50,000: Rs. 1200.0
• Over Limit Charge: Waived
• Cheque Bounce Charges: Rs. 500
• Foreign Currency Mark Up: 2% (effective from 16th October 2019)
• Railway Booking Surcharge (on transaction amount): Waived (Maximum waiver of Rs. 500 in a calendar year).
• Fuel Surcharge: Waived for transactions between INR 400 and INR 4000. Maximum Fuel surcharge waiver of Rs. 4500 in a calendar year.
• Fee for Cash payment at Bank: Waived
• Outstation Cheque Processing Fee: Waived
• Reissue/Replacement Card (per issuance): Waived
• 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
• Note: All applicable taxes would be charged as per the rates approved in the Finance Act each year on all interest, fees, and other charges levied on the Credit Card.

Rewards

• Personalised Card Design: Features a unique, hand-crafted illustration of the cardholder's image on the face of the card.
• Higher Credit Limit: Comes with a minimum credit limit of Rs. 10 Lakhs.
• Instant Credit Limit Increase: An offer for an additional spending limit to support large purchases, available at the bank’s discretion based on spend and payment patterns.
• Golf Benefits:
  • Receive 2 complimentary rounds of golf per month for the cardholder at selected golf courses in India and worldwide.
  • Ability to invite two friends for a complimentary round of golf once per quarter.
  • Terms and Conditions apply; refer to the cardholder agreement for full details.
  • Golf rounds can be booked via www.kotak.golftripz.com.
• Bonus Reward Points: Get 800 reward points, equivalent to Rs 800, free every month.
  • Please note: Crediting of reward points in lieu of 2 free PVR tickets is an interim change in the feature of the card.
• Domestic Lounge Access: Enjoy 4 complimentary visits every quarter to select lounges across India.
• Premium Concierge Services: Instant assistance for various lifestyle needs, including:
  • Arranging reservations for hotels and dining.
  • Flight ticketing assistance.
  • Booking tickets for special events and performances.
  • Spa & Fitness Centre information.
  • Referral assistance.
  • Concierge services are available from 10 am to 8 pm on all days.
• Fuel Surcharge Waiver: Save 1% fuel surcharge at all petrol pumps in India for transactions between INR 400 and INR 7,500. A maximum waiver of up to INR 4,500 is allowed per calendar year.
• Railway Surcharge Waiver: Get a 1.8% to 2.5% railway surcharge waiver when booking tickets on www.irctc.co.in or at Indian Railways booking counters. A maximum railway surcharge waiver of Rs 500 is allowed in a calendar year.

Rewards Redemption Guide

• Pay with Reward Points: Convert your Kotak Credit Card reward points into currency at merchant outlets when shopping, allowing for card-less and cash-less payments.
• Redemption Options: Reward points can be redeemed for:
  • Cash
  • Airline tickets
  • Air Miles
  • Movie Tickets
  • Mobile Recharge
  • Branded Merchandise
  • Luxury Brand Vouchers
• Redemption Process:
  • Visit www.kotak.com.
  • Click on Net Banking.
  • Log in using your CRN, Password, and One Time Password.
  • Choose "Credit Cards".
  • Select the desired Reward Redemption option.
• Conversion Details:
  • For redemption against Airline tickets, Merchandise, or Mobile recharge, Reward points must be converted to Easy Points (1 Reward Point = 1 Easy Point).
  • Every 1 Reward point can be converted into Double (2) Air miles.

Card Eligibility Criteria

• Banking Relationship: Primary cardholder must have a Kotak Wealth Management Banking Relationship.
• Age of Primary Cardholder: Between 21 years and 65 years.
• Age of Add-on Cardholder: 18 years and above.
• Location: Applicants must reside in Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai, and Pune.
• Residency Status: Must be a resident of India.

Important Product Details

• The Kotak Infinite Credit Card is an exclusive, invite-only offering specifically for Kotak Private Banking clients.
• Key benefits include a personalized card design, a high minimum credit limit of Rs. 10 Lakhs, and the possibility of an instant credit limit increase.
• Cardholders receive significant lifestyle perks such as complimentary golf rounds (2 per month for cardholder, plus quarterly invites for two friends), and access to premium concierge services for travel, dining, and event bookings.
• Financial advantages include nil joining and annual fees, nil add-on card fees, waived over-limit charges, and waivers on fuel and railway surcharges (with specified limits).
• A monthly benefit of 800 reward points (worth Rs 800) is provided, which is an interim change in feature in place of 2 free PVR tickets.
• Crucially, the Wealth Infinite Credit Card (Kotak Infinite Credit Card) has been discontinued for new sourcing, and the information above is strictly for existing cardholders only.

Other Details

• The Kotak Infinite Credit Card is specifically tailored for individuals who value exclusivity and premium services, being an 'invite-only' product for Kotak Private Banking clients.
• Concierge services can be reached at +91 1135124242 or via email at kotakconcierge@crib-life.com, available from 10 am to 8 pm daily.
• The card offers a low foreign currency markup of 2%.
• As per the disclaimer, the Wealth Infinite Credit Card has been discontinued for new applications. The details outlined are for existing cardholders.