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As a user of the Kotak Mahindra Bank Credit Card, you must understand how the repayment procedure works. You have two options to repay the credit that was utilised in the previous month. You can pay the bill in a single instalment within a few days of bill generation or pay the bill in Equated Monthly Instalments (EMIs). 


If you choose to pay the amount in EMIs, an interest will be levied on every instalment. For credit cards by Kotak Mahindra Bank, the interest rates depend from credit card to credit card. Hence, it is important to identify the interest rate that could be levied on your credit repayment in particular.

Monthly and Annual Interest Rates

Here are the interest rates of a few Kotak Mahindra Bank Credit Cards:

Credit Card Variant

Interest Rate (per month)

Interest Rate (per year)

6E Rewards - IndiGo Kotak Credit Card

3.70%

44.40%

Myntra Kotak Credit Card

3.70%

44.40%

Fortune Gold Credit Card

3.50%

42.00%

PVR Gold Credit Card

3.50%

42.00%

Royale Signature Credit Card

3.50%

37.20% 

NRI Royale Signature Credit Card

3.10%

37.20% 

Infinite Credit Card

3.10% 

37.20%

White Signature Credit Card

3.10% 

37.20%

Signature Credit Card

3.50% 

42.00%

Privy League Signature Credit Card

2.49%

29.88% 

Disclaimer: The interest rates mentioned above are subject to change at the bank’s discretion. Please refer to the issuer's MITC document for more details.

What is the Kotak Mahindra Bank Credit Card Interest-Free Period?

Kotak Mahindra Bank offers an interest-free period on transactions made using the bank’s credit cards. This period usually ranges between 18 and 48 days, depending on the transaction date. 

 

During this time, no interest is charged on the amount spent on the card. However, do note that the interest-free period is not applicable to cash advance transactions. You also do not get access to this facility if you fail to clear your outstanding credit card dues.

 

In case you have any issues with the interest rate calculation or credit card payment, you can call up Kotak Bank Credit Card customer care for assistance. If you have made certain big-ticket purchases that you need time to pay off, you can convert them into EMIs. 

 

This is because the Kotak Mahindra Bank Credit Card EMI interest rate is lower than the usual finance charges.

Frequently Asked Questions

Do finance charges apply even if the minimum payment due is cleared?

If you have paid the minimum amount due on your credit card, you will not have to pay the late payment fees. However, you will not be exempt from paying the interest/ finance charges. The credit card interest rate will vary depending on the card you own and will be charged on the outstanding amount.

How do I contact Kotak Mahindra Bank Credit Card customer service department if I have questions?

Keya, Kotak Mahindra Bank’s AI chatbot, can help you get answers to any of your questions. You can call the 24x7 Kotak Bank Credit Card customer care toll-free number at 1860-266-2666 to resolve your queries.

What is the interest rate on Kotak credit card?

The interest rates range from 2.49% to 3.70% per month. 

Can I use my Kotak credit card at an ATM?

Yes. You can withdraw cash from 300 network ATMs and any VISA ATM. Note that the charges for cash withdrawal will be levied depending on the type of credit card. For instance, Kotak 811 Credit Card charges around ₹300 for every transaction equal to ₹10,000.

How is the minimum amount due calculated for a Kotak Mahindra Bank Credit Card?

The minimum amount due on your Kotak Mahindra Bank Credit Card will be approximately 5%-10% of your transaction amount, depending on your credit card type.

Is Kotak Credit Card interest-free?

You could enjoy an interest-free period on your credit card payment by closing the bill within 18 to 48 days of purchase. 

Can I pay EMIs using a Kotak Credit Card?

Yes, you can. You can convert your purchases into EMIs to ease your credit card bill payment. 

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