Kotak Mahindra Bank UPI RuPay Credit Card – Benefits, Fees & Eligibility

Kotak UPI RuPay Credit Card

The Kotak UPI RuPay Credit Card is a virtual credit card designed for seamless and secure UPI payments, offering freedom from carrying a physical card. It allows users to make instant transactions through popular UPI applications like Google Pay, PhonePe, BHIM, Slice, and Paytm by linking the card to these apps. This card is a lifetime-free offering, meaning it has no joining or annual fees, and provides reward points on all eligible spends, including UPI transactions.

Welcome Benefits

• This card does not offer any specific welcome benefits.

Fees

• Joining Fees: Nil
• Annual Fees: Nil
• Add on Card Benefit (Virtual Card): Not Applicable
• Interest Charges on Outstanding Balances: 3.75% per month (Annualized 45%) with effect from June 01, 2025.
• Minimum Amount Due (MAD): W.e.f. 1st June 2025, MAD will be 1% of the Total Amount Due (TAD) & 100% of EMI, Finance Charges, Fees/Charges & Tax as applicable, subject to a minimum of ₹100 or up to the TAD amount, whichever is lower.
• Late Payment Charges ("LPC"):
  • Due as per last statement <₹100: ₹0.0
  • Due as per last statement ₹100 - ₹500: ₹100.0
  • Due as per last statement ₹501 - ₹5,000: ₹500.0
  • Due as per last statement ₹5,001 - ₹10,000: ₹600.0
  • Due as per last statement ₹10,001 - ₹25,000: ₹800.0
  • Due as per last statement ₹25,001 - ₹50,000: ₹1000.0
  • Due as per last statement >₹50,000: ₹1200.0
• Over Limit Charges: ₹500.0
• Cheque Bounce Charges: Higher of (2% of bounce amount or ₹500)
• Auto Debit Return Charges: 2% of bounce amount subject to a minimum of ₹450 and a maximum of ₹5,000
• Foreign Currency Markup: 3.5% per transaction + GST
• Railway Booking Surcharge Waiver: Not Applicable
• Fuel Surcharge Waiver: Not Applicable
• Fee for Cash payment at Bank: ₹100.0
• Reissue/Replacement Card (per Card): Nil (As it is a virtual card)
• Additional Transaction Charges (w.e.f. 01st June 2025):
  • Wallet Load and Online skill-based gaming platform: 1% transaction charge will be applicable on total spends exceeding ₹10,000 per statement cycle.
  • Fuel: 1% transaction charge will be applicable on total spends exceeding ₹25,000 per statement cycle.
  • Utility: 1% transaction charge will be applicable on total spends exceeding ₹35,000 per statement cycle.
  • Education: This fee will apply to spends made via third-party apps (e.g., PhonePe, Cred, Mobikwik, etc.). Transactions made directly through educational institution websites or their card-swipe machines will not incur this fee.
• GST and other applicable taxes, as notified by the Government of India, apply to all fees, interest, and other charges and are subject to changes in accordance with relevant regulations.

Rewards

• Earn 3 Reward Points for every ₹100 spent.
• Reward Points will be accrued for both UPI as well as Regular Credit Card Transactions.
• Regular Credit Card Transactions include Online/E-Commerce and International Transactions made virtually.
• Reward Point Exclusions and Limitations (W.e.f. 01st June 2025):
  • Reward points can only be earned on utility spends up to ₹35,000 per statement cycle.
  • Reward point earnings against the following spend categories will be discontinued: Wallet Load, Online skill-based gaming, Insurance, Government, Rent, Education Spends, and Fuel.
• Currently, Reward Points are not accrued for transaction categories such as Rent, Fuel, Railway, Wallet Loading, EMI, Education, and Balance Transfer.
• Spends on the above categories (with discontinued or limited earnings) will not be considered when calculating milestone benefits.

Rewards Redemption Guide

• Every 1,000 Reward Points are equivalent to ₹100.
• A minimum of 1,000 Reward Points will be required for redemption.
• Reward points can be redeemed across a variety of categories, including Mobile Recharge, Shopping (from a selection of over 10,000 products), E-vouchers across various brands, Movies, and Travel.
• Revision to Cash Value Redemption (W.e.f. 01st June 2025):
  • The cash value for redemption will be revised from ₹0.10 to ₹0.07 per Reward Point.
  • A minimum of 2,000 Reward Points will be required for cash value redemption.
  • For redemption against other categories like Mobile Recharge, Shopping, etc., 1 Reward Point will remain equivalent to ₹0.10.

Card Eligibility Criteria

• The applicant must be a citizen of India.
• The applicant's minimum age should be at least 18 years.
• The applicant must be between the ages of 18 and 65.
• The applicant should be an existing Kotak Credit Card holder.

Card Review

The Kotak UPI RuPay Credit Card is an excellent option for individuals who frequently engage in UPI transactions and prefer the convenience of a virtual, lifetime-free credit card. Its primary strength lies in its ability to earn 3 reward points per ₹100 spent on all eligible transactions, including those made via UPI. This makes it highly beneficial in the current digital payment landscape where QR code scanning and UPI payments are common. While it doesn't offer specific welcome benefits or a wide array of perks beyond reward points, its zero joining and annual fees, coupled with the ease of digital payments, make it a practical and attractive choice for everyday spending.

Important Product Details

• Virtual Credit Card: Issued exclusively as a virtual card, eliminating the need to carry a physical credit card.
• UPI Payment Integration: Designed for secure and instant UPI payments when linked to preferred UPI applications.
• Lifetime Free Card: Comes with zero joining fees and zero annual fees for its entire lifespan.
• Reward Earnings: Earns 3 Reward Points for every ₹100 spent on eligible transactions, including UPI.
• Reward Point Exclusions: Currently, Rent, Fuel, Railway, Wallet Loading, EMI, Education, and Balance Transfer transactions do not accrue reward points. From June 1, 2025, Insurance, Government, and Online Skill-based gaming will also be excluded, and utility spends will have a cap.

Other Details

Card Access and Management

• The Kotak UPI RuPay Credit Card is issued as a virtual-only card.
• Card details are automatically registered and accessible within the Kotak Mobile Banking App under the "Credit Card" section and then "Card Overview".
• To enable E-Commerce/Online & International Transactions and manage card usage settings, users can navigate to the "Card Control" tab within the "Card Overview" section of the Kotak Mobile Banking App.

UPI Linking

• Users can easily link their virtual card to their chosen UPI applications and set a UPI Pin to commence transactions.
• Currently, only RuPay credit cards can be linked to UPI apps in India.
• There are no charges for linking the Kotak UPI RuPay Credit Card to UPI applications.

Merchant Category Codes (MCCs)

• All mentioned revisions to reward point earnings and transactional fees (especially those effective June 01, 2025) will be based on Merchant Category Codes (MCCs). These are 4-digit numbers assigned to merchants by card networks such as VISA, MasterCard, and RuPay.