Kotak Privy League Signature Credit Card is a premium card offered by Kotak Mahindra bank exclusively for its Privy customers. It is a Visa credit card and comes in two variants – the free and the paid variant. You are allowed to choose between two plans- the Shopper’s Plan and the Traveller’s Plan depending upon your spending requirements. With the Shopper’s plan, as is obvious from the name, you earn accelerated reward points on retail shopping spends (select categories only), same is applicable for the Traveller’s plan, but for spends on select travel categories. Apart from the regular reward points, you also earn bonus reward points on achieving the stipulated milestones. You also get complimentary domestic lounge access and Priority Pass membership with both, the free and the paid variants, however, the premium variant also gives you four complimentary international lounge access under the Priority Pass program. Read on to know more about this Privy League exclusive offering by the Kotak Mahindra bank.
- Joining Fee- Rs. 2,500 + GST (for paid variant), Nil (for free variant)
- Renewal Fee- Rs. 2,500 + GST (for paid variant), Nil for the free variant
- Best Suited For- Shopping
- Reward Type- Reward Points
- Welcome Benefits- N/A
Rewards and Benefits
- Movie & Dining- NA
- Rewards Rate- 5x Reward Points on select retail shopping and travel spends, 2x Reward Points on all other spends and traveler’s plan.
- Reward Redemption- Reward Points redeemable on Kotak reward redemption portal.
- Travel- Complimentary domestic lounge access, Priority Pass membership, 4 complimentary lounge visits / year visits with Priority Pass (paid variant only)
- Golf- N/A
- Domestic Lounge Access- Under the Domestic Visa Lounge Program, you will get complimentary access to domestic lounges.
- International Lounge Access- Complimentary Priority Pass membership (with both variants), 4 complimentary lounge visits every year visits with Priority Pass (paid variant only)
- Insurance Benefits- NA
- Zero Liability Protection- Zero liability against fraudulent transactions if loss or theft is reported to the bank within the specified time frame.
Fees & Charges
- Spend based Waiver- The annual membership fee will be waived off if the cardholder spends Rs. 5 lakh in the preceding year or by maintaining Insignia or True Optima Banking Relationship
- Rewards Redemption Fee- Nil
- Foreign Currency Markup- 2% for paid variant and 3.5% for the free variant (exclusive of GST)
- Interest Rates- 2.49% per month (29.88% annually)
- Fuel Surcharge- Waived
- Cash Advance Charge- Rs. 300 per Rs. 10,000 withdrawn or part thereof
- Add-on Card Fee- Nil
Product Details
- The card is exclusive for privy customers of the bank and is offered in two variants- the paid variant and the free variant.
- You can choose between two plans- the shopper’s plan and the traveller’s plan.
- Under the shopper’s plan, you get 5X reward points on select shopping categories (the categories slightly differ for the two variants) and 2X reward points on all other spends.
- Traveller’s plan earns you 5X reward points on select travel categories (categories different for the two variants), and 2X points on all other spends.
- 6,400 bonus reward points every quarter on expenditure of Rs. 1,000 in all the three months of the previous quarter (applicable only for paid variant).
- Bonus reward points on achieving incremental spends based milestones.
- Complimentary domestic airport lounge access and Priority Pass membership (4 complimentary visits with Priority Pass on the paid variant).
- Lower interest rate of 2.49% per month.
- Protection against unauthorised transactions worth Rs. 2.5 lakh.
- Fuel and railway surcharge waiver.
- Premium concierge service regarding hotel/flight bookings, spa/fitness centre information, referral assistance, etc.
- Fuel and railway surcharge waiver.
Kotak Privy League Signature Credit Card Rewards:
You can choose between two plans – the Shopper’s Plan and the Traveller’s Plan for earning reward points on this credit card. The reward benefits differ based on the plan you choose.
For the Paid Variant-
- Shopper’s Plan- 5X Reward Points on select shopping categories like apparels, grocery, consumer durable, multi-brand online and, departmental stores and 2X Points on all other spends.
- Traveller’s Plan- 5X Reward Points on select travel categories like airlines, hotels, duty-free, international spends and travel agencies and 2X Points on all other spends.
For Free Variant-
- Shopper’s Plan- 5X Reward Points on select retail shopping categories like apparels, jewelry, consumer durable, restaurants, departmental stores and 2X Points on all other spends.
- Traveller’s Plan- 5X Reward Points on select travel-related categories including airlines, hotels, restaurants, international spends and travel agencies and 2X Points on all other spends.
Reward Redemption:
- The reward points that you earn with this credit card can be redeemed on the Kotak Reward Redemption portal for purchasing products, shopping vouchers, mobile recharges, movie/travel ticket bookings, etc.
- They can also be redeemed for shopping at partner merchants (including brands like Puma, Archies, Giny & Jony, etc.) under Kotak’s PayByPoints program.
- 1 Reward Point = Rs. 0.25.
- The validity period of reward points is 2 years from the date of accumulation.
Kotak Privy League Signature Credit Card Milestone Benefits:
You get spends based milestone benefits on the credit card based on the spendings in an anniversary year. The benefits are earned as per the tables below-
For the Paid Variant-
| Milestone | Bonus Reward Points |
| Spend Rs. 3,00,000 | 7000 |
| Spend Rs. 8,00,000 | 30000 |
For the Free Variant-
| Milestone | Bonus Reward Points |
| Spend Rs. 4,00,000 | 10,000 |
| Spend Rs. 8,00,000 | 30,000 |
Insurance Benefit:
The cardholders will not be liable for any fraudulent transaction that takes place through their card in the case of loss or theft of the card if the same is being reported to the bank within 7 days from the loss of card. Furthermore, you will also get an insurance cover worth Rs. 2.5 Lakhs.
Surcharge Waiver:
- Waiver of 1.8% to 2.5% on rail tickets booked on the IRCTC website (max waiver capped at Rs. 500/year).
- 1% fuel surcharge waiver on fuel purchases for transactions between Rs. 400 and Rs. 4,000 (max waiver capped at Rs. 4,500 per year).
Kotak Privy League Signature Credit Card Eligibility:
To be eligible for the credit card, you must be-
- a Privy League banking customer.
- in the age bracket of 21 years and 65 years.
- located in one of the following cities- Chandigarh, Ahmedabad, Bangalore, Chennai, Delhi, Gurgoan, Noida, Hyderabad, Kolkata, Mumbai and Pune.
How to apply:
Applying for Kotak cards is very simple. You can apply online by simply visiting the card’s page on the bank’s website. Alternatively, you can also fill this form on the bank’s website, and their officials will get in touch with you. You will be required to submit a few documents like identity/address proof (like Aadhar card, Voter card, driving license, etc.) for KYC and a proof of income like salary slips (for salaried applicants) or ITR (for self employes applicants).
Customer Care:
- Kotak Mahindra bank offers priority customer care support to its Privy League Signature card holders. In case you have any query or any issue regarding the card, you may simply SMS ‘KPRIVY’ and the bank officials will call you back within 30 minutes to resolve the same.
- To report the loss of card you can dial 1800 209 0000 (24×7 operational toll-free number).
Conclusion:
Since the card is exclusive for the privy league members, it would be unfair to compare it with any other credit card in the market. One of the variants of the card is complimentary for the privy league banking customers, an annual fee of Rs. 2,500 is applicable for the other variant. While you get a few additional benefits like complimentary international lounge visits, better milestone benefits and bonus reward points with the paid variant, the free variant also offers a decent reward rate. If you’re a privy league member, they is no reason to skip, at least the free variant. The best part about this card is that you can customize the benefits as per your needs- you get the option to choose between the Shopper’s and the Traveller’s plan.
