Abhishek012
TF Pioneer
Kotak launch Virtual only Lifetime free UPI RuPay Credit Card:
Features -
Credit meets Convenience with Kotak UPI RuPay Credit Card. Link your card on UPI Apps & make payments instantly
Reward Benefit
Earn 3 Reward Points* per ₹100 spentCredit Card on UPI
Enjoy facility of making UPI Payment with your credit card.Virtual Credit Card
Go wallet free by making instant payments with your credit card.Lifetime Free Card
No Joining & Annual Fees for life time.UPI payment on Credit Card:
- Enjoy a seamless experience of making UPI Transactions with your Kotak UPI RuPay Virtual Credit Card on your preferred UPI Apps
- For more information regarding how to make UPI Payments with your RuPay Credit Card, Click Here
Earn Reward Points
- Earn 3 Reward Points* against every ₹ 100 spent.
- No capping limit per statement cycle on earning Reward Points
- Reward Points will be accrued for both UPI as well as Regular# Credit Card Transactions
- Every 1,000 Reward Points will be equivalent to ₹ 100
- Minimum 1000 Reward Points will be required for redemption
Life Time Free Card
*Reward Points will not be accrued for transaction categories such as: Rent, Fuel, Railway, Wallet Loading, EMI, Education & Balance Transfer#Regular Credit Card Transactions include Online/E-Commerce and International Transactions made virtually
Eligibility Criteria
- Customer should be an existing Kotak Credit Card holder
- Customer should be in age bracket of 18-65 Years
- Customer should be a resident of India
Link your Virtual Credit Card on UPI Payment Apps
- Unfold UPI Magic with Kotak UPI RuPay Virtual Credit Card. Link your card on UPI Apps & set UPI Pin for making UPI Transactions
- For more information on how to link your RuPay Credit Card on UPI Apps, Click Here
Manage your virtual Credit Card on Kotak Mobile Banking App
- Kotak UPI RuPay Credit Card will be issued as virtual only card and no physical card will be issued. For your convenience, the card details will be auto-registered in Kotak Mobile Banking App under Credit Card section. To view card details, follow the below steps:
- Login into Kotak Mobile Banking App
- Go to “Credit Card” Section
- Go to “Card Overview” Section
Fees & Charges:
| Fee & Other Parameters | Kotak UPI RuPay Credit Card | |
|---|---|---|
| Joining Fees | Nil | |
| Annual Fees | Nil | |
| Add on Card Benefit (Virtual Card) | Not Applicable | |
| Interest Charges on outstanding Balances | 3.5% (Annualized Rate - 42%) | |
| Minimum Amount Due (MAD) (It will reflect in statement in column of minimum amount due) | MAD can be 5% or 10% of TAD as decided by the Bank | |
| Late Payment Charges ("LPC") | Due as per last statement | LPC Charges |
| <₹ 100 | ₹ 0.0 | |
| ₹ 100 – ₹ 500 | ₹ 100 | |
| ₹ 501 – ₹ 5,000 | ₹ 500 | |
| ₹ 5,001 – ₹ 10,000 | ₹ 600 | |
| ₹ 10,001 – ₹ 25,000 | ₹ 800 | |
| ₹ 25,001 – ₹ 50,000 | ₹ 1000 | |
| >₹ 50,000 | ₹ 1200 | |
| Over Limit Charge | ₹ 500 | |
| Cheque Bounce Charges | Higher of (2% of bounce amount or ₹ 500) | |
| Auto Debit Return Charges | Higher of (2% of bounce amount or ₹ 450) | |
| Foreign Currency Mark Up | 3.5% per transaction + GST | |
| Railway Booking Surcharge Waiver | Not Applicable | |
| Fuel Surcharge Waiver | Not Applicable | |
| Fee for Cash payment at Bank | ₹ 100 | |
| Reissue/ Replacement Card (per Card) | Nil (As it is a virtual card) | |
Note: GST/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 your Credit Card. |
Special thanks to @Tejo for sharing the details.
