Kotak 811 Credit Card

Kotak 811 is an online savings account which is offered by the Kotak Mahindra Bank. This account is created for customers to access a smooth transaction experience throughout all the digital channels. Customers can open up a Kotak 811 account very easily with the help of documents like an Aadhar card and PAN card.

Kotak 811 Credit Card is a digital-first credit card which is created by the Kotak Mahindra Bank in India. This Kotak credit card lets its customers do online shopping and transactions very easily. 

The Kotak 811 Credit Card is suitable for customers who are looking for a convenient and accessible credit card as it provides features like instant online application availability, zero joining fees, and many appealing rewards.

Kotak 811 Credit Card Details

Kotak 811 Credit Card lets its customers obtain or avail a bonus reward point of 500 when the particular customer spends an amount of INR 5,000; this feature will be applicable when the limit is touched by the customer within the first 45-day period from the date of card generation.

The rewards with the Kotak 811 Credit Card just do not know how to end as the customers will be able to grab 2 reward points every time they spend INR 100 using the Kotak 811 Credit Card.

The annual fee will be waived if retail spending reaches INR 50,000 in the previous year. These kinds of rewards are reasons why the Kotak 811 Credit Card is so popular among customers who are looking for an efficient credit card.

Customers will be able to gain a cashback of INR 750 if they have spent more than INR 75,000 in the previous year. The rewards offered by a financial service or product make a big difference in the perception of the particular service or product.

The customers of Kotak Mahindra Bank who own a Kotak 811 Credit Card can enjoy a 1% waiver on fuel surcharges at all fuel stations.

Advantages and Disadvantages of Kotak 811 Credit Card

Before a person opts to apply for a Kotak 811 Credit Card, he or she will definitely want to know the advantages that come along with this credit card. Below are listed some of the advantages of the Kotak 811 Credit Card.

Advantages

• The Kotak 811 Credit Card offers a warm welcome vibe to all its new customers with lots of welcome benefits such as bonus reward points, gift vouchers, etc., and many other rewards.
• The Kotak 811 Credit Card lets its customers earn while they spend more money. This means that for every transaction or payment that the customers carry out with the Kotak 811 Credit Card, they will obtain exciting cashback rewards.
• There are many milestone benefits for the customers which they can obtain or acquire when they cross certain limits of the amount of spends. This feature is valid when the customer unlocks the milestone within a specified period of time.
• Individuals or customers who travel frequently (for work or pleasure) can also obtain many rewards as the Kotak 811 Credit Card offers a good number of travel benefits, including access to lounges and hotel memberships.
• The Kotak 811 Credit Card also provides its customers with entertainment benefits and dining rewards, offering exciting and attractive discounts on movie tickets and dining outlets.
• There are many other advantages of the Kotak 811 Credit Card, such as a fuel surcharge waiver, annual fee waiver, and options for different insurance covers, which help balance financial stability.

Disadvantages

• The Kotak 811 Credit Card has a low reward rate.
• There are no rewards with the Kotak 811 Credit Card in terms of lifestyle categories.
• The processing fee with the Kotak 811 Credit Card is high (not in all cases).
• The rewards with the Kotak 811 Credit Card on milestone spends are limited.
• The Kotak 811 Credit Card is issued against the FD of the customer, which means that if the customer fails to manage the dues regarding the credit card, it might affect their savings.

Kotak 811 Credit Card Reward Offers

• Customers with Kotak 811 Credit Card will be able to earn 2 reward points whenever they spend an amount of INR 100.
• If the customer spends an amount of INR 75,000 or more in the previous year, he or she will be able to avail a cashback of INR 750. These kinds of rewards make the Kotak 811 Credit Card exceptional for all new customers who are thinking of applying for an efficient credit card.
• Customers with Kotak 811 Credit Card will be able to avail of an annual fee waiver when they carry out retail spends of over INR 50,000 in the previous year.

Welcome Benefits of Kotak 811 Credit Card

The Kotak 811 Credit Card offers its customers a bonus reward point of 500 when they spend an amount of over INR 5,000 within the first 45-day time period.

Travel Benefits of Kotak 811 Credit Card

The Kotak 811 Credit Card provides benefits regarding fuel and railway surcharges as well. This credit card gives the customers a fuel surcharge waiver of 1% on transactions of money in between INR 500 and INR 3,000.

The Kotak 811 Credit Card also lets the customers avail of a surcharge waiver of 1.8% on the website “irctc.com” and a 2.5% surcharge waiver on the booking counters of the Indian Railways.

Why Choose the Kotak 811 Credit Card?

1. Welcome Benefits: The Kotak 811 Credit Card has kept in mind giving out the best welcome benefits to its customers who are new to the Kotak 811 credit card. As a new user, customers will get a bonus of 500 reward points when they spend an amount of INR 5,000. This feature will be applicable when the customer spends INR 5,000 within the first 45-day time period.
2. Reward Benefits: The Kotak 811 Credit Card is created in such a way that the customers can obtain reward points easily just by spending money on things they like or love doing. The customers of Kotak 811 Credit Card will be rewarded with 2 points every time they spend an amount of INR 100 on online payments while shopping or purchasing any service. Moreover, the customers of Kotak 811 Credit Card will obtain 1 reward point every time they spend an amount of INR 100 on offline payments. These features make the Kotak 811 Credit Card a rewarding credit card which keeps their customers happy.
3. Fuel Benefits: The customers of Kotak 811 Credit Card will receive a 1% fuel surcharge waiver when they make transactions, which will have to be in the range of INR 500 to 3,000. Moreover, the users of Kotak 811 Credit Card will be able to obtain a maximum fuel surcharge waiver of INR 3,500 every year.
4. Milestone Benefits: When the users of Kotak 811 Credit Card spend an amount of INR 75,000 annually, they will get an exciting cashback of INR 750 or four PVR movie tickets free of cost.

Terms and Conditions Regarding the Kotak 811 Credit Card

• With all the credit cards present in the financial market, there are some terms and conditions involved with each credit card. Let us see some of the terms and conditions related to the Kotak 811 Credit Card.
• The customer has to confirm that he or she has not used the option of OTP-based Aadhaar verification in order to open or apply for another bank account.
• The customer has to give consent and authorise KMBL to use the Aadhaar details and biometrics to authenticate or verify and link his or her Aadhaar number to all the existing bank accounts.
• In case the customer-provided information is wrong, it should be noted that the bank reserves the right to freeze that customer’s Kotak 811 account and ultimately close it if the customer is unable to complete the KYC verification in the assigned time period.

Who Can Apply for the Kotak 811 Credit Card?

When we talk about a credit card, we know that there are some eligibility points for each bank that need to be fulfilled in order to apply for the credit card. Even in the case of the Kotak 811 Credit Card, there are some eligibility criteria present. Let us check out what are those points:

1. Age Requirement: Every credit card of various banks has this criterion as the first and foremost point to be fulfilled. The applicant or the customer who wants to apply for the Kotak 811 Credit Card must be at least 18 years of age and 65 years of age at the maximum.
2. Minimum Income Requirement: Low-income earners are people who have an income between INR 8,000 and INR 25,000. However, as per the information on the official site, Kotak 811 Credit Card is a secured credit card with no minimum income requirement. This card is based on fixed deposits. The minimum term deposit needs to be INR 10,000 at the minimum.
3. Nationality: The next eligibility point to be fulfilled is that the individual or applicant who wants to obtain a Kotak 811 Credit Card needs to be an Indian resident. This criterion is necessary as people from other nations frequently shift to India and settle down. The cities where this credit card is available are Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai, and Pune.

Documentation Required for Kotak 811 Credit Card

If you are someone who is thinking of getting a Kotak 811 Credit Card, let us see what documents you will be needing as a salaried employee, self-employed individual, or student in order to apply for this credit card.

1. Documents for Salaried Employees

1. Identification proof: In order to produce a proof of identification, customers can use documents like an Aadhaar Card, PAN Card, Driving License, Voter ID Card, or Passport.
2. Address proof: Next, customers have to produce proof of residency, for which they can submit documents like a Utility Bill, Ration Card, Passport, Driving License, or Voter ID Card.
3. Income proof: Customers have to prove their income and salary details, which can be done with the help of documents like Salary slips, Form 16, or Income Tax Returns.
4. Age proof: Customers will also have to produce proof of their age, for which they can submit documents like a 10th standard school certificate, Birth certificate, Passport, or Voter ID Card.

2. Documents for Self-employed Individuals

1. Identification proof: Individuals who have their own businesses have to produce proof of identity, and for this, documents like an Aadhaar Card, PAN Card, Driving License, Voter ID Card, or Passport are permissible.
2. Address proof: Next, customers have to produce proof of residency, which can be done with the help of documents like a Utility Bill, Ration Card, Passport, Driving License, Voter ID Card, or Last two months’ bank statement.
3. Income proof: Self-employed individuals have to prove their income with the help of documents like Income tax returns with computation of income, Certified financial documents, Proof of business continuity, or PAN cards.
4. Age proof: Lastly, self-employed individuals have to produce proof of their age, which has to be done with documents like a 10th standard school certificate, Birth certificate, Passport, and Voter ID Card.

3. Documents for Students

1. Identification proof: Students will have to produce proof of identity with the help of documents like an Aadhaar Card, PAN Card, Driving License, Voter ID Card, or Passport.
2. Address proof: Students will also have to produce proof of residency, which can be done with the help of documents like a Utility Bill, Ration Card, Passport, Driving License, and Voter ID Card.
3. Age proof: Students below 18 years cannot apply for a Kotak 811 Credit Card, so they have to produce proof of age. They can submit documents like a 10th standard school certificate, Birth certificate, Passport, or Voter ID Card.

Application Process for Kotak 811 Credit Card

The application process for Kotak 811 Credit Card is not very hard, as it provides an easy structure of steps as listed below:

• First, customers have to visit the official Kotak Mahindra website.
• Then, under the ‘Explore Products’ tab, choose ‘Cards’ and then select ‘Credit Cards’.
• Next, customers will be redirected to a page with all the cards offered by Kotak Mahindra Bank.
• Once you have found a card to apply, you can click ‘Apply Now’.
• Lastly, customers will have to fill in some information and details to finish the application.

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