Kotak 811 Dream Different Credit Card
MyRupaya Ratings
Product Details
Credit Card Name :
Kotak 811 Dream Different Credit Card
Bank Name :
Kotak Mahindra Bank
Type :
Lifestyle Credit Card
Interest Rate :
3.50% (Annualized 42%)
Eligibility :
Primary Card holder should be in the age bracket of 18 years to 75 years.
Minimum credit limit amount (for Non-811 savings account customers) – Rs. 9,000
Minimum credit limit amount (for 811 savings account customers) – Rs. 5,000
Only Individual TDs are allowed
Should be a resident of India
NRI customer can only apply via offline process
Pros
Welcome Benefit: Users will get 500 reward points on activation and spending INR 5000 in the first 45 days.
Reward System: Customers will get 2 reward points for every Rs. 100 spent on online transactions, and 1 reward point for every Rs. 100 spent on all other transactions. 1 RP = 0.25 Paisa. Online cashback rate: 0.5%, and General cashback rate: 0.25%.
Milestone Benefits: On spending Rs. 75,000 or more in an anniversary year using Kotak Dream Different Credit Card, customers get a cashback of Rs. 750, and 4 complimentary PVR movie tickets.
Cons
Processing fees on balance transfer.
Reward points will not be offered on fuel and railway spending as the card also offers surcharge waivers on the same.
Reward points will not be offered on cash withdrawals.
No lounge facilities are available.
Pros & Cons
Welcome Benefits
500 Reward points on activation and spending INR 5000 in the first 45 days.
Rewards System
Customers will get 2 reward points for every Rs. 100 spent on online transactions, and 1 reward point for every Rs. 100 spent on all other transactions. 1 RP = 0.25 Paisa. Online cashback rate: 0.5%, and General cashback rate: 0.25%.
International Forex Markup
Welcome Benefits and Reward System
Special Features
On spending Rs. 75,000 or more in an anniversary year using your Kotak Dream Different Credit Card, customers get a cashback of Rs. 750, and 4 complimentary PVR movie tickets.
Eligibility Criteria
Primary Card holder should be in the age bracket of 18 years to 75 years.
Minimum credit limit amount (for Non-811 savings account customers) – Rs. 9,000
Minimum credit limit amount (for 811 savings account customers) – Rs. 5,000
Only Individual TDs are allowed
Should be a resident of India
NRI customer can only apply via offline process
Benefits
Lifetime free credit card.
Rs. 750 cashback on crossing Rs. 75,000 spending every year.
Comprehensive insurance coverage.
24/7 concierge services.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Online Visit the Kotak Mahindra Bank website and click on the "Credit Cards" tab.
Select the "811 Dream Different Credit Card" and click on the "Apply Now" button.
Fill in the application form with your personal and financial details.
Upload the required documents, such as your PAN card, Aadhar card, and income proof. Review and submit your application.
Required documents: PAN card Aadhar card Income proof (salary slip, salary certificate, Form 16 for salaried individuals; PAN card, IT return, Form 60/61 for self-employed individuals)
Contact Details
1860 266 2666
Account Opening and Procedure
Recommended Credit Cards
Pros:-
Change the text to include your own content. Adjust the font, size or scale to customize the style.
Cons:-
Welcome Benefit: Users will get 500 reward points on activation and spending INR 5000 in the first 45 days.
Reward System: Customers will get 2 reward points for every Rs. 100 spent on online transactions, and 1 reward point for every Rs. 100 spent on all other transactions. 1 RP = 0.25 Paisa. Online cashback rate: 0.5%, and General cashback rate: 0.25%.
Milestone Benefits: On spending Rs. 75,000 or more in an anniversary year using Kotak Dream Different Credit Card, customers get a cashback of Rs. 750, and 4 complimentary PVR movie tickets.
Processing fees on balance transfer.
Reward points will not be offered on fuel and railway spending as the card also offers surcharge waivers on the same.
Reward points will not be offered on cash withdrawals.
No lounge facilities are available.
The Kotak 811 Dream Different Credit Card offers a unique proposition for individuals seeking a credit card without a strong credit history or income proof. The FD requirement might deter some, but the lifetime free annual fee, high credit limit, and additional benefits like reward points and cashback make it an attractive option for specific users. However, it's crucial to consider the high interest rate and ensure responsible credit card usage to avoid hefty charges.
Kotak 811 Dream Different Credit Card
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
Joining Fees: NIL.
Annual Fees Nil Condition for waiver of Annual Fees - First Year NA Condition for waiver of Annual Fees - Second Year NA Addon card Fees Nil.
Interest Charges on outstanding Balances: 3.50% (Annualized 42%).
ATM Cash Withdrawal/ Call a draft/ Fund Transfer/ Cash Advance per Rs. 10,000 or part thereof Rs. 300.
Late Payment Charges ("LPC") Rs. 250.
Foreign Currency Mark Up 3.5% .
Fee for Cash payment at Bank Rs. 100.
Fuel Surcharge
Billing Cycle
1 Month