Kotak Mahindra Bank Royale Signature Credit Card
Kotak Mahindra Bank is revamping its Royale Signature Credit Card, offering enhanced rewards and benefits, effective immediately. Cardholders should take note of these changes to maximize their usage and understand the new value proposition.
The refresh aims to increase cardholder engagement and attract new customers in a competitive credit card market.
Key Changes to the Kotak Royale Signature Credit Card
Rewards Program Enhancement
The revamped rewards program offers accelerated points on specific spending categories. Cardholders now earn 4 reward points for every ₹150 spent on retail purchases, excluding fuel.
Previously, the rewards structure was less differentiated. This new tiered system encourages spending in preferred categories.
Milestone Benefits Unveiled
Reaching spending milestones unlocks significant bonus rewards. Spend ₹1.25 lakh in each 6 month period and get 4 complimentary PVR tickets or 10,000 reward points.
This incentivizes higher spending and provides tangible benefits for frequent card users.
Fuel Surcharge Waiver Details
Cardholders continue to enjoy a fuel surcharge waiver. The waiver is applicable on transactions between ₹500 and ₹3,000, capped at ₹300 per month.
This provides some relief from rising fuel costs.
Insurance Coverage Expanded
The card now includes enhanced insurance coverage. This includes purchase protection and fraud liability cover for added security.
Details regarding specific coverage amounts are available on the Kotak Mahindra Bank website.
Interest Rates and Fees
The interest rate on the Kotak Royale Signature Credit Card remains unchanged. It is at 3.5% per month (42% per annum) on outstanding balances.
Late payment fees apply as per the bank's schedule of charges.
Eligibility Criteria
The eligibility criteria for the Kotak Royale Signature Credit Card remain consistent. Applicants must meet the bank's income and credit score requirements.
Existing cardholders will automatically receive the updated benefits.
How to Apply
New applicants can apply for the Kotak Royale Signature Credit Card online. The online application process requires minimal documentation.
Alternatively, applications can be submitted at any Kotak Mahindra Bank branch.
Customer Service Contacts
For inquiries regarding the card and its features, contact Kotak Mahindra Bank's customer service. Contact them via phone or email.
Customer service representatives are available 24/7 to assist cardholders.
Conclusion: What to do Next
Existing Kotak Royale Signature Credit Card holders should familiarize themselves with the updated terms and conditions. Maximize the new rewards structure for optimal benefit.
Prospective applicants should carefully review the eligibility criteria and card features. Compare it to other available credit card options.
The bank will continue to monitor customer feedback and may introduce further enhancements in the future. Stay informed through official communications from Kotak Mahindra Bank.
