Kotak Credit Card Late Payment Charges

Last Updated : June 17, 2025, 5:28 p.m.

Managing your credit card payments on time is essential to avoid unnecessary charges and maintain a healthy credit score. Kotak Mahindra Bank offers a variety of credit cards with attractive benefits, but understanding the associated fees, especially Kotak credit card fees like late payment charges, is crucial. This guide explores late payment charges, cash withdrawal fees, forex charges, and other fees related to Kotak credit cards , helping you make informed decisions and avoid costly mistakes. Whether you’re a new cardholder or looking to optimize your credit card usage, this article provides essential information to manage your Kotak credit card payments effectively.

What are Kotak Credit Card Late Payment Charges?

Kotak Credit Card Late Payment Charges are fees imposed if you fail to pay at least the Minimum Amount Due (MAD) by the Payment Due Date listed on your credit card statement. Missing this date triggers a late fee and may lead to reporting to credit bureaus, potentially harming your credit score. These charges vary based on the outstanding balance, as shown below for most Kotak credit cards, such as the League Platinum and Kotak 811 Credit Cards:

For example, if your outstanding balance is ₹4,000, the late payment charge is ₹500. If it’s ₹12,000, the charge is ₹800. These charges are generally standard, but always check your specific card’s fees on the Kotak website.

Kotak Credit Card Cash Withdrawal Charges

Using your Kotak credit card for cash withdrawals incurs specific Kotak credit card fees and interest charges. For most Kotak credit cards, including the Kotak 811 and League Platinum, the cash advance fee is 2.5% of the withdrawn amount, subject to a minimum of ₹500. Here are some examples:

• A ₹5,000 cash withdrawal attracts a fee of ₹500, based on a 2.5% rate (₹125).This is less than the minimum fee of ₹500.
• Withdrawing ₹20,000 results in a ₹500 fee, computed as 2.5% of the amount withdrawn.
• A ₹30,000 cash advance carries a charge of ₹750, determined by applying a 2.5% fee to the total.

Note: For specific cards like PVR Gold and PVR Platinum, the fee structure varies. For these cards, the cash withdrawal fee is 2.5% of the amount plus an additional ₹500 for every ₹10,000 or portion thereof.

Cash advances do not qualify for the interest-free period offered on regular purchases, meaning interest is levied instantly from the date of withdrawal until total repayment is done. As of June 2025, the majority of Kotak credit cards have a monthly interest rate of 3.75%, equivalent to an annual rate of 45%. However, some cards, like the 811 #Dream Different, offer an interest-free period for cash advances up to 48 days; refer to your card’s terms for details. The cash advance limit is generally up to 40% of your credit limit, subject to the bank’s discretion, and is communicated in your monthly statement.

Below is a summary of the cash withdrawal charges for most Kotak credit cards:

Tip : Due to high fees and instant interest, use cash withdrawals sparingly to prevent escalating costs.

Kotak Bank Forex (Foreign Currency) Charges

A foreign currency markup fee of 3.5% per transaction is applicable when using your Kotak credit card for making foreign currency transactions. For example, if you make a purchase of $100, the markup fee is $3.5, converted to INR at the prevailing exchange rate and added to your bill. Below is a summary of the forex charges:

Always confirm the specific markup fee for your card on the Kotak website.

Other Kotak Credit Card Fees

Beyond late payment charges , cash withdrawal, and forex fees, Kotak credit cards may incur additional charges, which vary by card type. Common fees include:

Note: For precise details, refer to your card’s fees and charges page on the Kotak portal.

What Happens If You Keep Missing Kotak Card Payments?

Consistently missing Kotak credit card payments can lead to serious consequences:

• Bad CIBIL Score : Late payments reduce your CIBIL score, affecting loan or credit approvals.
• Late Fee Charges : You’ll incur Kotak Credit Card Late Payment Charges as outlined above.
• Increased Interest Rates : Unpaid bills for over 60 days may trigger higher interest rates, up to 3.75% per month (45% p.a.) or more.
• Loss of Interest-Free Period : You may lose the interest-free period on future purchases.
• Reneging Account Status : Continuous non-payment may classify your account as reneging, leading to penalties.
• Credit Card Deactivation : Your card may be deactivated, but you remain liable for the outstanding balance.
• Lowered Credit Limits : Frequent defaults can reduce your credit limit.

Timely payments are crucial to avoid these consequences.

Tips to Prevent Kotak Credit Card Late Payment Charges

To avoid Kotak Credit Card Late Payment Charges and maintain a healthy CIBIL score, consider:

• Set Payment Reminders : Use calendar apps or notifications to track due dates.
• Enable Auto-Pay : Set up Auto Debit or NACH for automatic payments from your savings account.
• Monitor Statements : Regularly review your Kotak credit card statements to stay aware of due dates and balances.
• Pay Early : Make payments as soon as you receive your statement to avoid delays.
• Minimize Cash Withdrawals : Avoid cash advances due to high fees and immediate interest.
• Pay More Than the Minimum : Paying more than the minimum due reduces your outstanding balance and interest charges.

How to Make Your Kotak Credit Card Bill Payments on Time?

Kotak Mahindra Bank offers several convenient methods to ensure timely payments:

• WebPay : Pay online via the Kotak payment portal.
• Mobile Banking : Use the Kotak Mobile Banking App.
• Net Banking : Pay through your bank’s net banking portal.
• Auto Debit/NACH : Set up automatic payments from your savings account.
• Cheque : Submit a cheque at any Kotak Bank branch.
• Cash Payment : Pay in cash at Kotak Bank branches.

To ensure timely processing, make online payments at least 3 days before the due date, as they may take up to 3 working days to reflect. Check your due date and minimum amount due on your monthly statement or via the Kotak Mobile Banking App.

How Do Late Kotak Credit Card Payments Impact Your CIBIL Score?

Late payments can significantly harm your CIBIL score, a key indicator of creditworthiness. Payment history is a major factor in computing your credit score. Even a single late payment can create a noticeable dip, while multiple missed payments can lead to a severe drop. A lower CIBIL score may result in:

• Difficulty obtaining loans or credit cards.
• Higher interest rates on future credit.
• Reduced credit limits.

To protect your CIBIL score, pay at least the minimum amount due by the due date and keep your credit utilization low.

Comparison of Kotak Credit Card Late Payment Charges with Other Banks

Here is a comparison of Kotak’s late payment charges with those of other major banks in India, such as HDFC, SBI, ICICI, and Axis, as of June 2025. This comparison highlights how Kotak’s fees stack up against competitors, helping you evaluate cost-effectiveness.

Conclusion

Understanding Kotak Credit Card Late Payment Charges and other Kotak credit card fees is important for effective financial management. By staying informed about late payment fees, cash withdrawal charges, and forex markups, you can avoid unnecessary costs and maximize the benefits of your Kotak credit card. Timely payments not only save you money but also safeguard your CIBIL score, ensuring a strong financial future. Use tools like auto-pay and reminders to stay on top of your payments and enjoy the perks of your credit card without the burden of extra charges.