Kotak Mahindra Bank Royale Signature Credit Card
Last Updated : Nov. 28, 2023, 10:44 a.m.
Kotak Credit Cards are by far the most user-friendly options available. So far, the bank offers a variety of credit cards that cater to varying individual needs such as rewards, cashback, discounts, travel benefits, movie benefits, and more. You can also look into a variety of credit cards, ranging from basic to premium. Following that, the Kotak Bank Royale Signature Credit Card is one of the major credit cards on the list. It was created in order to provide customers with the most rewarding experience possible. Furthermore, the Royale Signature Credit Card is available in both a paid and free variant for certain customers. Furthermore, you can save money on shopping and travel expenses in both cases.
Dive deeper into this article to understand all about the Kotak Bank Royale Signature Credit Card.
Benefits and Features of Kotak Bank Royale Signature Credit Card
The benefits that you can reap from this Kotak Credit Card are listed below:
Complimentary Airport Lounge Access
You can enjoy 2 free visits every three months at specific Dream Folks Lounges in India, just by using your credit card.
The following thighs will be included in your complimentary visits:
- Gourmet Meal
- Comfortable Seating
- Widescreen TV
- Access to Newspapers and Magazines
- Free Wifi
Reward Points
Earn up to 4 reward points on spending Rs. 150 every time.
Security
You can reach Kotak Customer Service at 1860 266 2666. As a result, Kotak’s dedicated team will assist you in any way they can to resolve all issues. If your Royale Signature Card is stolen, fraudulent transactions are reported, or any other issues arise, they will be resolved here.
Priority Attend
Simply send an SMS “KASSIST” to 5676788. Further, the Kotak team will give you a call back within two hours. This will save you time as you didn’t wait for the bank to receive instead they will call you.
Fuel Surcharge Waiver
Fuel will be waived up to Rs. 3,500 on all applicable transactions ranging from Rs. 500 to Rs. 3,000. Each anniversary year, however, a Rs. 3,500 surcharge is permitted.
Railway Surcharge Waiver
Save up to Rs. 500 in booking railway tickets through the Kotak Bank Royale Signature Card in an anniversary year. Meanwhile, the transactions should be from the www.irctc.co.in
Add-on Card
Add-on card facility for your loved ones. Moreover, the Add-on Card is equipped with all the benefits that you get with the primary credit card.
Eligibility Criteria for Kotak Bank Royale Signature Credit Card
Credit card eligibility is necessary to be known as it makes the application process simpler. Below are the eligibility parameters for the Kotak Royale Signature Credit Card:
- Age – You must be between the ages of 21 and 65 to apply for the Royale Credit Card.
- Add-on Card – The Add-on Card applicant should be above 18 years.
- Location – The Royale Signature Card is currently available to people living in the following cities: Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai, and Pune.
- Income – You should be earning Rs. 24 Lakhs or above to get the Kotak Royale Signature Credit Card.
Kotak Bank Royale Signature Credit Card – Fee & Charges
The Kotak Royale Signature Card is regarded as one of the Best Credit Cards because it is available in two variants. One is the paid Kotak Bank Royale Signature Credit Card, for which you must pay joining fees. The other option is the Kotak Bank Royale Signature Credit Card Free Variants, for which there are no joining fees. Furthermore, the free variant is only available to customers of Kotak Privy League Optima and Insignia.
These are the fees and charges structure of Kotak Bank Royale Signature Card:
| Particulars | Kotak Royale Credit Card (No Joining Fees) | Royale Credit Card (With Joining Fees) | Kotak Royale Card (Free Variant) |
|---|---|---|---|
| Joining Fees | No joining fees | INR 1499 | No joining fees |
| Annual Fees | INR 999 With an annual spending of Rs. 1 Lakh you can waive the annual fees | INR 999 However, if the annual spending reaches up to Rs. 1 lakh the annual charges would be waived. | You didn’t need to pay the annual charges for the Royale Free Variant |
| Add-On Card | No fee is involved for Add-on Card | No Add-on Card fee | NIL |
| Interest Charges on outstanding Balances | Up to 3.5% | The interest charges are 3.5% | You need to pay 3.5% interest charges on outstanding balances |
| Minimum Amount Due | The Minimum Amount Due can be either 5% or 10% of TAD. However, it is solely dependent on the decision of the bank | It can be 5% or 10% of TAD. | The bank takes the complete decision of whether it would be 5% or 10% of TAD. |
| ATM Cash Withdrawal | INR 500 | INR 500 | INR 500 |
| Late Payment Charges | - You have to pay a charge equal to Rs. 100 for less than or equal to Rs. 500 amount. - Amounts ranging from Rs. 501 to Rs. 10,000 would be liable to get a late payment charge of Rs. 500. - Similarly, pay up to Rs. 700 for an amount more than Rs. 10,000. | - For an amount less than or equal to Rs. 500 pay Rs. 100 late payment fee. - Pay an Rs. 500 late payment fee for amounts ranging from Rs. 501 to Rs. 10,000. - A late payment fee of Rs. 700 is charged for amounts greater than Rs. 10,000. | - Any amount less than or equal to Rs. 500 would incur a charge of Rs. 100. - You will be charged Rs. 500 for late payment. It is thus applicable to any payment ranging from Rs. 501 to Rs. 10,000. - A late payment fee of Rs. 700 applies to amounts greater than Rs. 10,000. |
| Over Limit Charge | INR 500 | INR 500 | INR 500 |
| Cheque Bounce Charges | INR 500 | INR 500 | INR 500 |
| Foreign Currency Mark Up | 3.5% | 3.5% | 3.5% |
| Replacement Card | INR 100 | INR 100 | INR 100 |
Documents Required to Receive Kotak Mahindra Bank Royale Signature Credit Card
- Identity Proof-PAN Card/Passport/Voter ID/Aadhaar Card (Self-attested copy)
- Residence Proof-Aadhaar Card/Passport/Latest Utility Bills (Self-attested copy)
- Recent passport size photograph duly attested
- Attached Declaration Form Duly Signed
What value does the Kotak Bank Royale Signature Credit Card offer?
The Royale Credit Card provides great value to customers. As a result, you can earn a lot of benefits and save a lot of money by using a credit card . Furthermore, the Royale Credit Card gives you a variety of options for reaping the benefits. However, you may be curious about how it works and how much value you can gain.
To understand how the Royale Credit Card works, read the following Free Card Variant value chart:
| Particulars ( Free Card Variant) | Value |
|---|---|
| If your monthly spend is supposed Rs. 70,000 | Rs. 5000 is the approx reward points you would earn |
| Milestone reward points | With an Rs. 70,000 monthly spend your milestone rewards will be equal to Rs. 7500 |
| Up to Rs. 8000 is spent on fuel per month | You will earn Rs. 960 |
| Annual Fee Waiver (by spending Rs. 1 lakh in a year) | Save up to Rs. 999 |
| Total Value per year | Rs. 14,459 |
The Kotak Bank Royale Signature Card “Free Variant” has a yearly value of Rs. 14,549. Simultaneously will be employed by the Kotak Paid Variant. In short, by paying a small joining fee or opting for the free variant, you can save thousands per year.
What is the Kotak Royale Signature Credit Card Milestone Program?
The Royale Signature Credit Card is backed with a Milestone Program. It means you can earn extra reward points if you meet certain spending requirements. However, the money should be spent during the anniversary year. Furthermore, at the end of an anniversary year, the bonus reward points you will earn will be directly credited to your credit card. Meanwhile, you can easily obtain it if you meet the Milestone criteria at the end of the term.
Here is the bonus reward you will earn through the Milestone Program:
| Milestone | Bonus Reward |
|---|---|
| Spend Rs. 4 Lakh | INR 10,000 |
| Spend Rs. 8 Lakh | INR 30,000 |
Kotak Bank Royale Signature Credit Card Visa payWave
Visa payWave is a cutting-edge new technique. It allows for a contactless payment gateway. You no longer had to enter the PIN every time you made a payment. However, to use the Visa payWave the payment should be at least Rs. 5000. This contactless payment method is supported by the Kotak Royale Signature Credit Card. Furthermore, all you have to do is wave your Kotak Royale Signature Credit Card and the payment is complete.
Mentioned below are the characteristics of Visa payWave:
Contactless: The payment is made without entering a PIN or touching any surface. This however makes Visa payWave a complete contactless network of payment.
- Safe: Although it was a contactless card, you did not need to keep it separate. This means that the credit card will remain in your possession throughout the payment process.
- Fast: Contactless payment methods are faster and more secure than traditional methods.
- Security: The Royale Signature Card Visa pay Wave is secured with multiple layers of security. It, therefore, projects your card into fraudulent and unauthorized transactions.
How does the Visa payWave work?
The working mechanism of Visa payWave is very simple and straightforward. Below are the pointers that explain how it works:
- Purchase at your preferred time.
- Go to the checkout counter.
- Take out your Royale Kotak Credit Card and look at the contactless mark.
- The amount will then be entered by the cashier. This is also evident in the contactless reader.
- Now, at the merchant terminal, swipe your Visa payWave Credit Card.
- Following that, four green lights or a beep sound will appear. It would imply that the transaction was a success.
Kotak Bank Royale Signature Credit Card Rewards Redemption
Rewards are an excellent way to motivate a larger portion of your customer base. However, accessibility to them is equally important. As a result, Kotak Mahindra Bank has made it extremely easy to redeem the rewards earned through the Kotak Royale Signature Card. Nevertheless, you can use the reward points to pay for expenses to redeem over other available options.
Some of the rewards redemptions options are as follows:
- Pay with Reward Points: The reward points you earned with the Royale Signature Kotak Credit Card can be used to pay for the following expenses:
- Go to the store and buy your favorite item.
- Contact the cashier.
- Inform the cashier that you have earned reward points and request that they be redeemed.
- After that, the cashier will use the reward points at the merchant terminal.
- If you have an outstanding balance, you can pay it with cash or a credit card.
- Redeem Reward Points: You can redeem your rewards points for mobile recharges, shopping across 10,000 products, e-vouchers from various brands, movie vouchers, travel, and many other things.
Application Status Online
You can check the status of the application made with respect to Kotak Mahindra Bank Royale Signature Credit Card online. Want to know how? Here is the answer. Visit the official page of Kotak Mahindra Bank and find the option of ‘Application Status’, which you can find at the bottom. Just click that and enter either the application reference number or the application form number. After doing the formalities, you will be shown the actual status of your credit card.
Kotak Mahindra Bank Royale Signature Credit Card Statement
After shopping with the credit card for some days, you would be interested to get the statement of Kotak Mahindra Bank Royale Signature Credit Card issued, right! Well, you can access either the electronic or physical statement showing the details of the transactions made through the credit card. You can get the record of all the billed transactions in a payment. In addition, the payment which you would make for the monthly dues will also be shown.
Customer Care 24×7 Number
Be it the concern of application status, transaction history or the reward summary, the customer care number-18602662666 is there with you round-the-clock, thereby helping you to transact freely with the credit card. So doesn’t matter where you are, the customer care representatives are always there to help you in the best way possible.
Conclusion
The Kotak Bank Royale Signature Credit Card is unquestionably one of the best credit cards available. It is unique in the number of benefits it provides in various categories. Nonetheless, you have a number of options for redeeming the rewards points you have accumulated. Furthermore, all of your needs, including travel, shopping, and movie vouchers, as well as shopping on big brands, are met here. Subsequently, we can conclude that the Kotak Bank Royale Signature Credit Card is worthwhile to obtain.