Kotak Credit Card Interest Rates

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Kotak Mahindra Credit Card Interest Rate

Kotak Mahindra Bank Credit Card comes with a variety of benefits and features. It also levies an interest on the credit amount if you haven’t paid the outstanding balance within the due date.


The current Kotak credit card interest rate is 3.5% per month, approximately 42% p.a. on their credit cards. However, you can skip this hassle if you pay your outstanding balance within the due date. Before applying for one, it would be best to be aware of the prevailing Kotak credit card interest rates.

Kotak Credit Card Interest Rates of Top Cards

The interest rate may vary depending on the type of card you have. The Kotak credit card interest rates of some of the top credit cards offered by the bank are mentioned below:

Kotak Bank Credit Card Type

Finance Charges/ Interest rate

Feast Gold, Urbane Gold, PVR Gold, PVR Platinum, Mojo Platinum, League Platinum, Delight Platinum, Essentia Platinum, Silk Inspire Platinum, Fortune Gold, Solaris Platinum, Royale Signature and Zen Signature, 811 #DreamDifferent

3.50% per month / 42% per annum

Silk Inspire Platinum

2.99% per month / 35.88% per annum for credit card issued against term deposit

Wealth Management Signature, Infinite, NRI Royale Signature, White Signature

3.10% per month / 37.20% per annum

Privy League Signature

2.49% per month / 29.88% per annum

Disclaimer: The interest rates mentioned above are subject to change as per the bank’s discretion. Please check with the lender before applying.

How is Kotak Credit Card Interest Rate Calculated?

The formula used for the calculation of interest rate on the Kotak credit card is mentioned below:

Credit Card Interest Rate= (Total number of days x transaction amount x annual interest rate) / 365 days


Let us consider an example, to learn how the interest rate on a Kotak credit card affects the amount you pay.

Kotak Credit Card Rate of Interest

3.50% per month / 42% per annum

Date of Transaction

October 01, 2022

Amount Transaction


Minimum Amount Due


Statement Generation Date

October 06, 2022

Payment Due Date

October 26, 2022

Amount Paid


Payment Date

October 25, 2022

Next Statement Date

November 06, 2022


Note: The above example is for illustrative purposes only. The final amount may differ based on the terms and conditions applicable to your credit card.

Interest accumulated from the date of the transaction to the date of partial payment:

(Number of days from date of the transaction to partial payment date x total amount x interest rate per annum)/ days in a year

(25 x ₹20,000 x 42%) ÷ 365 = ₹575.34

Interest from partial payment date to statement generation date:

(Number of days from the partial payment date to the next statement generate date x pending amount x interest rate per annum)/ days in a year

(12x ₹10,000 x 42%) ÷ 365= ₹138.08

Total Interest Accumulated: ₹713.42 (₹575.34 + ₹138.08)

If the minimum amount due is not cleared by the payment due date, the interest will be calculated on the outstanding balance from the date of the transaction to the repayment date, and a late payment fee will be charged on the total outstanding balance.

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 20 to 50 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 on 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 EMI. This is because the Kotak credit card EMI interest rate is lower than the usual finance charges.

FAQs on Kotak Credit Card Interest Rates

  • ✔️Do the 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.