Kotak Royale Signature Credit Card – Benefits, Fees & Eligibility

Introduction

The Kotak Royale Signature Credit Card, offered by Kotak Mahindra Bank, is positioned as a basic card designed to provide cardholders with rewarding offers and travel benefits. It comes with no joining fee and allows users to earn Reward Points on all spends, with accelerated points on select categories like hotels, restaurants, and international transactions. Cardholders can also enjoy complimentary domestic lounge access, fuel and railway surcharge waivers, and significant bonus Reward Points annually based on spending milestones. This card is suitable for individuals seeking an affordable credit card with exclusive benefits and savings opportunities, particularly for travel and shopping. Please note that this card has been discontinued for new applications.

Fees

• Joining Fee: Nil
• Annual Fee: Rs. 999 + GST
• Spend-Based Waiver: The renewal fee can be waived if you spend Rs. 1,00,000 or more in the preceding/anniversary year.
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% on all foreign currency spends.
• Interest Rates: 3.4% per month (equivalent to 37.2% per annum).
• Fuel Surcharge Waiver:
  • A 1% fuel surcharge is waived at all fuel stations.
  • Applicable on transactions between Rs. 500 and Rs. 3,000.
  • The maximum benefit that can be claimed with a fuel surcharge waiver is capped at Rs. 3,500 per year.
  • W.e.f. June 1, 2025: 1% fuel surcharge waiver is applicable on transactions that range between ₹500 and ₹5000, allowing a maximum fuel surcharge waiver of up to ₹3,500 in an anniversary year.
• Cash Advance Charges: Rs. 300 per Rs. 10,000 withdrawn.
• Railway Surcharge Waiver:
  • Save railway surcharge of 1.8% for transactions on irctc.co.in.
  • Save railway surcharge of 2.5% for transactions on Indian Railways Booking Counters.
  • The maximum railway surcharge waiver allowed in an anniversary year is Rs. 500.

Rewards

• Rewards Rate:
  • Earn 2 Reward Points per Rs. 150 spent on eligible base categories.
  • Earn 4 Reward Points per Rs. 150 spent on select accelerated categories, including restaurants, international spends, Airlines, hotels, travel agencies, tour operators, and package tour operators.
  • No Reward Points will be earned on fuel/railway transactions.
• Upcoming Changes to Reward Points (w.e.f. June 1, 2025):
  • Reward points will only be earned on education and insurance spends up to ₹70,000 per statement cycle.
  • Reward points will only be earned on utility spends up to ₹50,000 per statement cycle.
  • Reward points will only be earned on government spends up to ₹40,000 per statement cycle.
  • Reward points earnings against Wallet Load, Fuel, Rent, and Online skill-based gaming spend categories will be discontinued.
  • Spends on the above-mentioned categories (education, insurance, utility, government, wallet load, fuel, rent, online skill-based gaming) will not be considered when calculating milestone benefits. These revisions are based on Merchant Category Codes (MCCs).
• Milestone Benefits:
  • Earn 10,000 Reward Points on achieving a spend of Rs. 4 lakhs in an anniversary year.
  • Earn 30,000 Reward Points on achieving a spend of Rs. 8 lakhs or more in an anniversary year.
  • These bonus Reward Points are credited at the end of the term.
• Travel Benefits:
  • Get 2 complimentary domestic airport lounge access visits per quarter.
  • Access is provided to select Dream Folks Lounges in India by simply swiping your Credit Card.
  • Enjoy benefits such as gourmet meals, comfortable seating, widescreen TVs, newspapers and magazines, and free Wi-Fi.
  • W.e.f. June 1, 2025: Spend ₹75,000 or more in a calendar quarter to enjoy Airport Lounge access in the next calendar quarter.
• Insurance Benefits:
  • Coverage of Rs. 2.5 lakhs against fraudulent transactions on a lost or stolen card.
• Add-on Card:
  • Add-on cards come with all the benefits enjoyed on the primary credit card.
  • You can set the spend limit on your Add-on Card as desired.
  • Spends can be tracked separately for each Add-on Card.

Rewards Redemption Guide

• The Reward Points earned are redeemable through the kotakrewards.com website.
• Points can be redeemed for various categories, including shopping, travel, movies, mobile recharge, and e-vouchers.
• 1 Reward Point is equivalent to Rs. 0.1875 (or 18.75 paise).

Card Eligibility Criteria

• Age: Between 21 Years and 65 Years.
• Income: Rs. 24 Lakh per annum or above.
• Credit Score: A decent credit score (750 or above) is required.

Card Review

The Kotak Royale Signature Credit Card is an excellent choice for those seeking an affordable credit card that offers exclusive benefits and significant savings opportunities. Its robust Reward Points program, including accelerated earnings on specific categories and substantial milestone bonuses, makes it highly rewarding for regular spenders. The card's travel benefits, such as complimentary domestic lounge access, coupled with card protection insurance and waivers on fuel and railway surcharges, enhance its overall value proposition. Considering these advantages, the Kotak Royale Signature Credit Card presents a compelling option for individuals looking to maximize savings and benefits across various spending categories.

Important Product Details

• No joining fee.
• Earn 2 Reward Points per Rs. 150 spent, and 4 Reward Points for every Rs. 150 spent on accelerated categories like restaurants, hotels, airlines, and international spends.
• Get complimentary airport lounge access (2 visits per quarter to domestic lounges).
• Enjoy a 1% fuel surcharge waiver (capped at Rs. 3,500 per year).
• Benefit from a railway surcharge waiver (capped at Rs. 500 per year).
• The annual renewal fee can be waived by spending Rs. 1,00,000 or more in the preceding year.
• Earn up to 30,000 bonus Reward Points annually based on spending milestones (10,000 RPs for Rs. 4 lakhs spend, 30,000 RPs for Rs. 8 lakhs spend).
• Receive insurance coverage worth up to Rs. 2,50,000 for unauthorized transactions on a lost or stolen card.

Other Details

• The Kotak Royale Signature Credit Card has been discontinued for new applications.
• For assistance with bill payments, you can send an SMS, “KASSIST,” to 5676788, and the bank will call you back within 2 hours.
• The revisions to reward point earnings (w.e.f. June 1, 2025) are based on Merchant Category Codes (MCCs), which are 4-digit numbers assigned to merchants by card networks.
• Applicable terms and conditions apply for Lounge Access.
• If your card is lost, inform the bank as soon as possible by calling 1860 266 2666 to get your card blocked or deactivated before any loss occurs.
• A credit card balance transfer is the process of transferring an owed balance from one credit card account to another, shifting the debt to the new card issuer.