Kotak Royale Signature Credit Card| Best Credit Card of 2021

By | September 3, 2021

Kotak Royale Signature Credit Card| A Best Credit Card of 2021 – The Kotak Royale Signature credit card is a top-of-the-range credit card from Kotak Mahindra Bank. It helps you get the most out of your travel and purchase spending by rewarding you for the same. Earn reward points when making purchases using your Kotak Royale Signature credit card and exchange them easily for attractive options from a range of categories such as travel, upscale merchandise, and much more. It offers great discounts in travel and living, restaurants and way of life. Here we are sharing  Kotak Royale Signature  Credit Card Features, benefits,  eligibility,  charges, etc.

Also read Make My Trip ICICI Signature Credit Card, Best for Frequent Travellers 

Features and Benefits of Kotak Royale Signature Credit Card 

The following are the main features and benefits of the Kotak Royal Signature credit card:

Rewards on this Credit Card

 Here is the reward point system on Kotak Royale Signature Credit Card: 

4X awards by Rs 150 on travel agencies and tour operators, package tour operators, hotels, airlines and airlines, restaurants and international spending.

2X Rewards each Rs 150 spent on across all other categories

Travel benefits 

You receive 2 free access to the airport lounges each quarter to national airports. Get unlimited paid access to yourself and your guests as well. You can take advantage of different benefits offered by the lounges, including a gourmet meal, television, newspapers and magazines, free Wi-Fi and more.

Milestone Benefit

The more you spend with your Kotak Royale Signature credit card, the more benefits you are able to enjoy.

Spend Rs 4 Lakh within a year and receive 10,000 bonus reward points.

Spend Rs 8 Lakh in one year to earn 30,000 bonus reward points.

Fuel Surcharge Waiver

Take advantage of an exemption from the fuel surcharge for transactions between Rs 500 and Rs 3000. The maximum exemption from the surtax for one year is limited to Rs. 3,500.

Lost Card Liability Cover

Get liability coverage from Rs 2.5 Lakh up to 7 days prior to reporting the loss of the card.

Contactless payment

With Visa payWave technology, you can simply touch the card scanner to process the transaction. Transactions smaller than Rs.2,000 can be processed without capturing the PIN via the payWave card.

Fuel & railway surcharge waiver

Take advantage of an exemption from the fuel surcharge for transactions between Rs 500 and Rs 3000. The maximum exemption from the surtax for one year is limited to Rs. 3,500.

You may also benefit from the exemption from railway charges which is generally charged on reservations of railway tickets made with credit cards. The maximum amount of the exemption is limited to Rs.500 annually.

Add-on cards

You can ask for extra cards that will have the same advantages as the main card. In addition, you can set the expenditure limit and track expenditures for each card separately.

Priority services on SMS

The Priority Participation Service allows you to receive a call from the bank by texting. All you have to do is send SMS ‘KASSIST’ to 5676788 and receive a call within 2 hours. This service can be used to pay monthly outstanding bills, to request a cheque withdrawal and others.

Also read Best Credit card for online shopping from Flipkart

Kotak Royale Signature Credit Card Eligibility Criteria 

There are some eligibility criteria that are set by Kotak Mahindra Bank and an Applicant has to fulfil these eligibility criteria to get a Royale Signature Credit Card. Following are the eligibility criteria to get this card: 

  • The applicant should be a resident of India to be eligible for the card.
  • The Primary cardholder should be  between the age of 21 years to 65 years before applying for the credit card.
  • Additional card holders must be a minimum 18 years old. 
  • There are specific places where the card holders are expected to live to qualify for the credit card.  These places include Ahmedabad, Bengaluru, Delhi, Noida, Gurugram, Chandigarh, Mumbai, Kolkata, Pune, Hyderabad and Chennai.
  • The income should be over Rs. 25 lakh per year. 

Documents Required for Kotak Royale Signature Credit Card

If you are planning to get a BOB Eterna Credit Card than following documents are required:

  • PAN card photocopy or Form 60 and the Income Tax Returns Statement
  • 2 passport size Colour photograph
  • Latest 3 months Salary Slip/Proof of salary or Bank statement for income proof  verification/IT return copy for self employed person.

Residence proof (any one of the following):

  • Passport
  • Ration Card
  • Electricity bill
  • Landline telephone bill

Identity proof signature-bearing national identity (any one of the following):

  • Passport
  • Driving license
  • PAN card

Please note that this list is for guidance only. The documents requested may vary from case to case. 

Also read Best Credit Card for Students in 2021

Kotak Royale Signature Credit Card Fee and Charges 

Following are the fees and charges credit card holder have to pay: 

  • Annual Charges/Joining Fee – Rs. 999/- 
  • Charges for Reissue/Replacement – Rs. 100/-
  • Charges on Cash Withdrawal – Rs. 300 for each Rs. 10,000.
  • Interest on Product Finance with Card – 3.4% interest per month (37.2% annually).
  • Late Payment/Outstanding Payment Charges –  (1) Rs. 100 for less than Rs. 500 outstanding Payment. (2) Rs. 500 for Between Rs. 500 to Rs.10,000 outstanding Payment. (3) Rs. 700 for greater than Rs. 10,000.
  • Fee for Overlimit – Rs. 500
  • Charge on Cheque Bounce – Rs. 500
  • Charges on Cash Payment – Rs. 100
  • Foreign Currency Markup – 3.5%

How to Apply for Kotak Royale Signature Credit Card

Application process for Kotak Royal Signature Credit Card is very easy. If you are planning to get this credit card by two methods: 1. Online Method and 2. Offline method. 

  1. Online method: 
  • First of all you have to visit Kotak Mahindra Bank official website.
  • Here you have to find the Credit Card section and in this section find the Royale Signature Credit Card. 
  • Click on this card and read all the eligibility criteria and other details carefully.
  • Now click on ‘Apply Now’ Button and all the requested details correctly. 
  • If you are eligible then it will ask you to fill a detailed application form.
  • After that a bank executive will call you for verification and documents collection.
  • Once verification is done, you will get your credit card within 7-10 working days.
  1. Offline Method:

In an offline method you have to visit your nearest Kotak Bank Branch. Here Bank executives will help you in the application process of Kotak Royale Signature Credit Card.

Pro and Cons of Kotak Royale Signature Credit Card

Pros 

  • Card holder gets Free Airport Lounge Access
  • Kotak Royale Signature Credit Card offers a Priority call service where all you need to do is send a text message and receive a call within 2 hours.
  • Customers can also get an Add-on Card  for their family members with the same benefits that will be the same as the primary credit card. 
  • Customers can also set spending limits on Add-on Cards. 
  • Customer can track expenses  separately for each Add-on Card(s)

Cons

  • Customer will not get any complimentary Golf lessons/green
  • Customers will  also not get any free access to International lounges.

FAQs about Kotak Royale Signature Credit Card

  1. Can I withdraw cash from an ATM with a Royal Signature credit card?

    Yes, Kotak Royale Signature cards have a feature of Cash withdrawal. You can withdraw cash up to 90% of the credit limit. And you can also withdraw cash in foreign countries. 

  2. What do I do when my Kotak credit card is robbed or lost?

    In this case, you need to contact Kotak Mahindra Bank customer support at the earliest at 1860 266 2666 and get your card disabled/ blocked. The bank’s management will guide you through the insurance claim process.

  3. Is there a maximum exemption for additional rail costs?

    Cardholders may receive up to Rs.500 as a rail surcharge exemption.

  4. What is the minimum age criteria for Kotak Royale Signature Credit Card?

    To get this card Primary cardholder should be  between the age of 21 years to 65 years before applying for the credit card.

  5. What are the charges for issue/replacement of Card?

    Users have to pay Rs. 100 for reissue/replacement of the card. 

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