Our Products
Loans
Cards
Insurance
Investment
Stock Market
Electronics Mall
CIBIL Score
Knowledge Centre
Calculators
Our Services
My Account
Do not call
En
Learn about Kotak Mahindra Bank credit card fees and charges to manage your spending efficiently and avoid unnecessary costs on your monthly statements.
Last updated on: April 03, 2026
Kotak Mahindra Bank credit cards come with a structured set of fees and charges that apply based on how you use your card. These include joining and annual fees, interest on outstanding balances, late payment fees, cash withdrawal charges, and foreign transaction mark-ups. There are also overlimit fees, reward redemption charges, and certain usage-based surcharges mentioned in the bank’s charge schedule. The exact amount you pay depends on your card variant and your repayment behaviour each month.
Kotak Mahindra Bank groups credit card costs into different heads such as annual and joining fees, interest, penalty charges, transactional fees, etc. The following are the common charges associated with the Kotak Bank credit cards available on Bajaj Markets:
The joining fee is a one-time charge that may be applied when your credit card is first issued. For example, the Kotak League Platinum Credit Card and IndianOil Kotak Credit Card typically have joining fees of around ₹449–₹499 plus taxes. The joining fee might be discounted or made nil for select customers via offers, but the standard schedule still discloses the regular joining fee clearly.
| Credit Card Variant | Joining Fees |
|---|---|
NIL |
|
₹449 + GST |
Note: The above-mentioned joining fees are subject to change at the issuer’s discretion.
Many credit cards have an annual or renewal fee that is billed every year on the anniversary of card issuance. On some popular cards like the League Platinum and IndianOil Kotak Credit Card, this annual fee is usually in the lower hundreds of rupees plus GST. The bank often provides an annual fee waiver option when you meet a specified spend threshold in the previous card year. This can effectively make the card usage lighter on your pocket.
| Credit Card Variant | Annual Charges |
|---|---|
NIL |
|
₹449 + GST |
Note: The above-mentioned annual fees are subject to change at the issuer’s discretion.
When you do not pay your credit card Total Amount Due in full, interest is charged on the unpaid balance. The bank’s card agreement document specifies a monthly interest rate that is generally around 3.5%–3.75% per month on many cards. This roughly translates to about 42%–45% per annum. This rate applies on purchases, cash advances, and certain other outstanding amounts from the transaction date until the dues are fully repaid.
| Charge Description | Frequency / Type | Applicable Rate or Fee |
|---|---|---|
Interest Rate |
Monthly |
3.5% to 3.75% p.m. (42% to 45% p.a.) |
Disclaimer: The abovementioned credit card fees and charges may change at the issuer’s discretion.
Late payment charges are levied if you do not pay at least the Minimum Amount Due by the statement due date. Kotak Mahindra Bank uses a slab-based late fee structure, where the fee amount increases as your statement balance increases. For example, late payment fees can be nil for statement balances of up to ₹100 and gradually move up to around ₹1,300 for higher balances.
| Outstanding Balance | Late Payment Charges |
|---|---|
≤ ₹100 |
₹0 |
> ₹100 – ₹500 |
₹100 |
> ₹500 – ₹1,000 |
₹500 |
> ₹1,000 – ₹5,000 |
₹600 |
> ₹5,000 – ₹10,000 |
₹750 |
> ₹10,000 – ₹25,000 |
₹900 |
> ₹25,000 – ₹50,000 |
₹1,100 |
> ₹50,000 |
₹1,300 |
Disclaimer: The abovementioned credit card fees and charges may change at the issuer’s discretion.
If you spend beyond your assigned credit limit and the bank allows such overlimit usage, an overlimit charge is applied. For several cards, this fee is often a fixed amount per cycle when you cross the limit, typically in the range of ₹500 per instance. The bank’s standard terms clarify that overlimit is at its discretion and may depend on your repayment track record and profile.
| Charge Description | Frequency / Type | Applicable Rate or Fee |
|---|---|---|
Overlimit Fee |
Per Instance |
₹500 (if overlimit amount is ≥ ₹500) |
Disclaimer: The abovementioned credit card fees and charges may change at the issuer’s discretion.
Withdrawing cash from an ATM using your Kotak Bank credit card attracts a separate cash advance fee. This is commonly shown as a percentage, usually around 2.5%–3% of the amount withdrawn, subject to a minimum of about ₹300–₹500 per transaction. Interest on withdrawn cash starts accruing from the transaction date, so ATM usage can become costly if the balance is not cleared quickly.
| Charge Description | Frequency / Type | Applicable Rate or Fee |
|---|---|---|
Cash Advance Fee |
Per Transaction |
2.5% of amount (Min ₹500) |
Disclaimer: The abovementioned credit card fees and charges may change at the issuer’s discretion.
When you use a Kotak credit card for international spends, a foreign currency markup fee is charged on top of the conversion rate. The bank charges a standard forex mark-up of around 3.5% for many cards, with lower mark-ups of about 2% on select premium variants. These charges apply even if you transact online in foreign currency while being in India.
| Charge Description | Frequency / Type | Applicable Rate or Fee |
|---|---|---|
Forex Markup Fee |
Per Transaction |
2% to 3.5% (Varies by card) |
Disclaimer: The abovementioned credit card fees and charges may change at the issuer’s discretion.
Knowing the specific numbers associated with your card helps you budget more effectively and avoid any unexpected surprises on your monthly bill.
| Charge Description | Frequency / Type | Applicable Rate or Fee |
|---|---|---|
Cheque Bounce Fee |
Per Instance |
2% of bounce amount (Min ₹500) |
Cash Payment Fee |
Per Transaction |
Up to ₹100 (At Bank Branches) |
Card Replacement Fees |
Per Instance |
Up to ₹100 (Varies by card) |
Disclaimer: The abovementioned credit card fees and charges may change at the issuer’s discretion.
Interest calculation on credit cards is dynamic and depends heavily on your repayment behavior and the age of your outstanding transactions. If you do not pay your bill in full, the interest-free grace period is revoked, and interest is charged from the date of each purchase.
If you pay only the Minimum Amount Due or any amount less than the total outstanding, interest is levied on the unpaid portion of your balance. This includes previous purchases, new purchases, and any cash advances, starting from the transaction date.
The bank applies the applicable monthly interest rate (for example, around 3.5% – 3.75% per month on many cards) and converts it into a daily rate by dividing by the number of days in a month. Interest for each day is calculated on that day’s closing balance.
To find the interest for a specific period, the bank uses this official formula:
Interest Amount = (Transaction Amount x Monthly Rate x Number of Days) / 365
When you are in a ‘revolving’ state, i.e., carrying a balance, new purchases do not get an interest-free period. For example, interest on a new ₹5,000 purchase will start the very next day, adding to your total finance charges.
Finally, a mandatory 18% GST is levied on the total interest amount calculated. For example, if your interest is ₹100, your statement will show a total charge of ₹118.
Annual fee waiver criteria allow you to get your yearly fee reversed or not charged if you meet certain card usage conditions. On Kotak credit cards like League Platinum and IndianOil, the bank links this waiver to your annual retail spends in the previous anniversary year. This structure rewards active usage and can effectively make the card close to free if you consistently meet the spend thresholds.
Below is an example table summarising how fee waivers are structured for these two cards available on Bajaj Markets:
| Credit Card Name | Annual Fee | Annual Fee Waiver Milestone |
|---|---|---|
League Platinum |
₹499 |
Spend ₹50,000 in the previous year |
IndianOil Kotak |
₹449 |
Spend ₹50,000 in the previous year |
Waivers are generally processed automatically based on your ‘retail spends’ during the card anniversary year. Retail spends typically include all your shopping, dining, and utility bills but usually exclude cash withdrawals or EMI conversions. Meeting these targets effectively makes your card free for that year, ensuring you only gain from the rewards and offers provided.
By staying mindful of your spending habits and payment dates, you can use your credit card without ever paying a single rupee in interest.
Many cardholders unknowingly incur fees that could easily be avoided with a little more attention to their statement and account settings.
Reviewer
Some of the types of Kotak Bank Credit Card charges are listed below:
The finance charges depend on the credit card variant you have chosen. Kotak Mahindra Bank charges an interest rate of 3.50% to 3.75% p.m. on most credit cards.
Yes, you will have to pay late payment charges if you do not pay the outstanding balance or the minimum due amount before the due date. For example, late payment fees can be nil for statement balances of up to ₹100 and gradually move up to around ₹1,300 for higher balances.
The over-limit fee on most Kotak Mahindra Bank Credit Cards is ₹500.
Yes, you can enjoy an interest-free period of 90 days upon transferring the balance from your existing credit card to a Kotak Mahindra Bank Credit Card. Check your card’s Most Important Terms & Conditions (MITC) and Schedule of Charges to confirm the details.
You can avoid late payment charges by clearing your outstanding balance before the specified due date. If you cannot pay this amount, you can also clear the minimum amount to evade these charges.
The annual charges for Kotak Bank Credit Cards vary depending on your chosen variant. You can select a variant based on your spending patterns and financial requirements. For example, the Kotak League Platinum Credit Card and IndianOil Kotak Credit Card typically have annual fees of around ₹449–₹499 plus taxes.
Kotak Mahindra Bank credit cards may include charges such as interest on outstanding balances, late payment fees, cash withdrawal charges, foreign currency transaction fees, and other service-related fees. Interest may be applied if the total outstanding is not paid by the due date, and some cards can carry finance charges of up to about 3.5–3.75% per month.
Some Kotak Mahindra Bank credit cards may have a joining fee charged when the card is issued, although the amount depends on the specific card type. For example, the Kotak League Platinum Credit Card and IndianOil Kotak Credit Card charge around ₹449–₹499 as a joining fee. Others may offer zero joining fees or promotional waivers available.
Academy 
