Kotak Mahindra Bank Credit Card Terms and Conditions

Kotak Mahindra Bank credit card terms and conditions form the legal agreement between the cardholder and the bank. They outline the scope of card usage, billing and repayment obligations, applicable fees, and circumstances under which the bank may suspend or terminate card services.

The terms also define compliance with regulatory requirements, disclosure norms, and customer communication channels. Cardholders are expected to follow all usage rules, ensure timely repayments, and comply with updates or changes communicated by the bank. These provisions ensure transparency and consistency across all Kotak Mahindra Bank credit card variants.

Credit limits determine the maximum amount a cardholder can spend, including purchases, EMIs, and cash advances. Under Kotak Mahindra Bank credit card terms and conditions, the credit limit is assigned based on income profile, credit history, and internal risk assessment.

The total credit limit includes sub-limits for cash withdrawal where applicable. The available limit reduces with usage and is restored upon repayment. The bank may revise limits periodically and may levy over-limit charges if spending exceeds the approved threshold. Kotak Mahindra Bank also reserves the right to reduce or withdraw the credit limit in case of adverse credit behaviour.

Annual Fee

The annual fee is a recurring charge that you must pay each year to maintain your credit card account. The amount depends on your specific Kotak Mahindra Bank credit card variant and its benefits. Banks sometimes offer waivers or partial waivers of the annual fee if you meet certain spending thresholds (for example, a minimum yearly retail spend).

Renewal Fee

A renewal fee is essentially the same as an annual fee but charged at the end of each card year to continue your card privileges for the next year. If you meet certain criteria such as eligible yearly spends, Kotak Mahindra Bank may waive or reduce the renewal fee, depending on your card rules. For many card variants, paying this renewal fee ensures continued access to perks, reward points, and benefits attached to the card.

Interest Charges

Interest charges (also called finance charges) apply when you do not pay your full outstanding bill by the due date after the interest‑free period ends. Kotak Mahindra Bank lets you enjoy an interest‑free grace period depending on your billing cycle, but if the total amount due is not cleared by the due date, interest begins to accrue on the unpaid balance. 

Late Payment Fee

If you miss your payment due date or do not pay at least the minimum amount due by the deadline, Kotak Mahindra Bank charges a late payment fee. The fee amount varies based on the outstanding balance slab at the time the payment was missed. For example, the fee may range from around ₹100 for low outstanding balances up to about ₹1,200 for higher dues on many card types. These charges are designed to encourage timely payments and help you avoid negative impacts on your credit score.

Over‑limit Charges

An over‑limit charge applies when your spending goes beyond your assigned credit limit. The maximum amount you are allowed to use on the card. Banks may levy a fixed fee. If you exceed this limit with a transaction that is permitted by the issuer. Kotak Mahindra Bank may ask for your consent before allowing a transaction that exceeds your limit; if you agree, an over‑limit charge could be applied for that billing cycle.

Cash Withdrawal Charges

Using your credit card to withdraw cash from an ATM or request a cash advance is convenient in emergencies but attracts specific fees. Kotak Mahindra Bank generally charges a cash withdrawal fee, with a minimum fee amount (often ₹300–₹500 depending on the card). Interest on cash withdrawals begins to accrue immediately from the withdrawal date, with no interest‑free period, making this one of the more expensive credit card uses.

Applicable Taxes

All of the fees and charges levied on a Kotak Mahindra Bank credit card, including interest charges, late payment fees, over‑limit fees, and cash advance fees, are subject to applicable taxes. The bank adds taxes as per current Indian tax laws, and these taxes are reflected in your credit card statement alongside the corresponding fee. Always check your billing statement to see the exact tax amounts applied.

Billing and payment rules explain how statements are generated and how dues must be cleared. Each card has a defined billing cycle, after which a statement shows transactions, total amount due, and the minimum amount due.

The minimum amount due is calculated as a percentage of outstanding purchases and cash advances, along with applicable interest, fees, and taxes, subject to a minimum amount. Interest is charged on unpaid balances at rates defined for each card category. Payments are adjusted in a defined order, generally covering taxes, fees, interest, and then principal.

Reward programmes offered on Kotak Mahindra Bank credit cards are governed by specific reward terms. These rules explain how reward points are earned, eligible transaction categories, exclusions, and accelerated reward structures for select cards.

Reward points have defined validity periods and may expire if not redeemed within the specified time. Redemption options, minimum thresholds, and conversion values vary by programme. Kotak Mahindra Bank may modify or withdraw reward programmes in accordance with its policies and the applicable terms and conditions.

Security-related terms place responsibility on the cardholder to protect the card, PIN, CVV, and digital banking credentials. Any loss, theft, or unauthorised use must be reported immediately through official bank channels.

Kotak Mahindra Bank credit card terms and conditions outline liability rules for unauthorised transactions. Timely reporting may limit cardholder liability, subject to investigation. The bank also explains dispute handling processes and timelines to resolve fraud-related issues in a structured manner.

Credit cards are typically renewed automatically before expiry, provided the account is in good standing. Renewal terms may vary depending on card usage, programme eligibility, and compliance with bank policies.

Cardholders may request closure after clearing all outstanding dues. Kotak Mahindra Bank may also block or terminate card services in cases of default, prolonged inactivity, policy violations, or risk concerns. Such actions are taken as per the Kotak Mahindra Bank credit card terms and conditions.