Kotak Cashback+ Credit Card: Benefits, Cashback, Fees, Eligibility & More

The Kotak Credit Card is aimed at individuals who spend on online food delivery, groceries, entertainment and fuel frequently. The card provides cashback in the form of reward points that can be used on the credit card statement to get a corresponding benefit of ₹1 for every reward point earned.

The card offers as much as 5% cashback on certain online purchases, 3% cashback on PVR INOX movie benefits and fuel benefits to help users save money on entertainment and fuel expenses as well as on their general spending.

Kotak Cashback+ Credit Card Highlights

• Up to 5% cashback on online food delivery, groceries and entertainment.

• 3% cashback on eligible fuel spend.

• 0.5% base cashback on other eligible spends:

• 1 reward point = ₹1 cashback

• Cashback can be collected as reward points

• Get a show at PVR INOX with the buy 1 get 1 offer.

• The limit for movie benefits is set to ₹250 per month.

• No need to pay the annual fee if spending ₹2 lakh or more in a year.

• Joining Fee: ₹750 + GST

• Annual Fee: ₹750 + GST

Kotak Cashback+ Credit Card Cashback

The Kotak Cashback+ Credit Card's one of the main attractions is its cashback structure. The cashback is not paid directly, but as reward points.

All reward points are valid at a value of ₹1 and can be used to redeem the collected points as cashback in the statement.

5% Cashback on Food, Grocery and Entertainment

Every ₹100 spent on eligible online transactions will earn 5 reward points for cardholders.

• Online food delivery

• Online grocery

• OTT subscriptions

• Movies

• Gaming

• Other eligible entertainment spends

This means that it offers a 5% cashback rate for eligible transactions.

For instance, for eligible online food, grocery and entertainment transactions you make worth ₹10,000, you can earn up to ₹500 cashback, subject to the applicable monthly cashback cap.

3% Cashback on Fuel

The card has a reward rate of 3 points for every ₹100 spent on fuel transactions that are eligible for this reward.

This implies that the effective fuel cashback rate is 3%.

If you frequently use your credit card to pay for fuel, you'll save on your monthly fuel costs with this benefit.

0.5% Cashback on Other Eligible Spends

For other eligible transactions that do not fall under the accelerated cashback categories, cardholders can earn 0.5 reward points per ₹100 spent.

Thus, the effective base cashback rate is 0.5%.

Cashback Cap

The 5% and 3% cashback categories have a combined maximum cashback cap of ₹750 per month.

This translates to the fast-track cashback on eligible spends that covers food delivery, grocery, entertainment and fuel is subject to the combined monthly limit.

Therefore, it is crucial for the cardholder to consider this cashback limit while planning his monthly expenditure.

Kotak Cashback+ Credit Card Movie Benefits

Movie lovers can also get an additional benefit with the Kotak Cashback+ Credit Card.

The card also features a special Buy 1 Get 1 movie ticket feature for movie bookings at PVR INOX.

This movie's maximum possible cashback is ₹250 per month.

This is a valuable addition to the PVR INOX card if you are a regular movie-watcher at PVR INOX.

Annual Fee Waiver

Kotak Cashback+ Credit Card has an annual fee of ₹750 + GST.

But cardholders are eligible to avail the annual fee waiver with an annual spending of ₹2 lakh or more.

It makes the card more appealing to those who have the money to afford the annual fee in their normal budget.

Kotak Cashback+ Credit Card fees

Here are the major fees associated with the card:

Fee / Charge	Amount
Joining Fee	₹750 + GST
Annual Fee	₹750 + GST
Cash Advance Fee	₹300
Interest Rate	3.75% per month
Annualized Interest Rate	45%
Late Payment Fee	₹250
Foreign Currency Transaction Fee	3.5%
Other Fees	₹99

Credit card fees can change, so applicants should check the latest applicable charges before applying.

Kotak Cashback+ Credit Card Eligibility

The following are the basic requirements given for the Kotak Cashback+ Credit Card:

• The primary cardholder is supposed to be between 18 and 75 years.

• There is no minimum salary requirement given on the Kotak website.

• The bank's internal credit and income assessment criteria should be met by the applicants.

Having met the basic eligibility requirements does not mean that the bank will approve; it will take into consideration its own evaluation.

Documents Required for Kotak Cashback+ Credit Card

Applicants may need to provide documents for identity, address and income verification.

For Salaried Individuals

Commonly required documents include:

• PAN Card

• Aadhaar Card

• Salary Slip

• Salary Certificate

• Form 16

• Other documents requested by the bank

For Self-Employed Individuals

Self-employed applicants may need:

• PAN Card

• Aadhaar Card

• Income Tax Return (ITR)

• Form 60/61, where applicable

• Other income or business-related documents requested by the bank

Applicants should provide the documents requested during the application process.

How to Apply for Kotak Cashback+ Credit Card Online?

You can apply for the Kotak Cashback+ Credit Card through the Kotak Mahindra Bank website.

Step 1: Visit the Kotak Mahindra Bank Website

Go to the official Kotak Mahindra Bank website and navigate to the Credit Cards section.

Step 2: Select Kotak Cashback+ Credit Card

Read the Kotak Cashback+ Credit Card benefits, fees and eligibility.

Step 3: Click on Apply Now

Click on Apply Now to start the application process.

Step 4: Enter Your Details

Complete the application form with the necessary details regarding the applicant's personal, employment and financial information.

Step 5: Upload Documents

Upload all necessary documents, including PAN, Aadhaar and relevant Income documents.

Step 6: Review and Submit

Check all the information carefully and submit the application.

The bank will then look at the application and make the decision on eligibility using its own policies and verification.

Is Kotak Cashback+ Credit Card Worth It?

If you spend a considerable amount of money on eating online, groceries, entertainment and fuel, then it may be worth considering using the Kotak Cashback+ Credit Card.

Its primary benefit is being able to earn 5% cashback on specific online categories, 3% cashback on fuel and benefits at PVR INOX movies.

The maximum cashback amounts for each category (5% and 3%) should be kept in mind before applying since they may be combined and capped at ₹750 per month. Users should also check against the other cashback credit cards that they use based on their spending patterns.

Who Should Consider Kotak Cashback+ Credit Card?

This card may be suitable for:

• People who frequently order food online

• Users with regular online grocery expenses

• OTT, movie and gaming enthusiasts

• People who spend regularly on fuel

• Users looking for cashback on everyday purchases

• Customers who can spend ₹2 lakh annually to qualify for the fee waiver

Who May Not Benefit as Much?

The card may be less suitable if most of your spending is on categories that receive only the base cashback rate.

It may also be less attractive for people who regularly make international transactions because of the 3.5% foreign currency transaction fee.

Conclusion

The Kotak Cashback+ Credit Card can be a handy choice for those who seek cashback for regular expenses like online food delivery, groceries, entertainment and fuel. It is especially for those who spend a lot on their online activities and movies in PVR INOX, as they benefit from 5% cashback on selected online spends, 3% cashback on fuel and movie benefits at PVR INOX.

Another way to waive the annual fee is by making a minimum of ₹2 lakh in purchases per year. But applicants must keep in mind the monthly limit of ₹750 in the combined cashback categories and compare the card with other cashback credit cards before deciding.

The Kotak Cashback+ Credit Card can help you save on your everyday expenses if you are someone who spends in the same categories as listed under the cashback.

FAQs

What is the cashback rate of Kotak Cashback+ Credit Card?

The card offers up to 5% cashback on eligible online food delivery, grocery and entertainment spends, 3% cashback on eligible fuel spends and 0.5% cashback on other eligible spends.

How much is 1 reward point worth on Kotak Cashback+ Credit Card?

1 reward point is worth ₹1 when redeemed as statement cashback.