Kotak Mahindra Bank has been offering different investment tools, loan schemes and credit plans to a huge customer base in India. While many banks in India have started offering credit cards against fixed deposits to make borrowing easier for all types of borrowers, Kotak Mahindra Bank is no exception.

Feel free to apply for a credit card against your fixed deposit at Kotak Mahindra Bank. The idea of FD credit cards comes with dual benefits. A Kotak Mahindra Bank FD credit card makes credit accessible even for individuals with low credit scores. Additionally, it allows you take to use your fixed deposit that otherwise sits ideally in a bank.

Read on to learn more about the Kotak Mahindra Bank FD credit cards and the rewards they offer!

The Best Kotak Mahindra Bank Fixed Deposit Credit Card: Dream Different Credit Card

The Kotak Mahindra Bank issues their FD credit card in the name of Kotak Mahindra 811 #Dream Different Credit Card. The Kotak Mahindra Bank FD credit card is one of the most used FD credit cards in the country owing to its different features.

Benefits and Features

The Kotak Mahindra Bank FD credit card provides its users with many benefits.

• There is a cashback of Rs. 750 on annual spending of Rs. 75000.
• The Kotak Mahindra Bank FD credit card provides interest-free cash withdrawals. This offer remains for up to 48 days.
• The account holder can choose a credit limit ranging up to 90% of the fixed deposit amount.
• The credit limit is known upfront at the time of applying for the credit card.
• The Kotak Mahindra Bank FD credit card provides a high credit limit of up to 16 Lakhs.
• It also provides a cash advance fee of Rs. 300 per Rs. 10,000 or a part thereof.
• The Kotak Mahindra Bank FD credit card also provides a fuel and railway surcharge waiver.

Rewards

The reward points make credit cards even more exciting. You can earn many reward points while using the Dream Different Credit Card. 

• Each online spending of Rs. 100 will generate 2 reward points.
• Each spending (not online) of Rs. 100 will generate 1 reward point. 
• The card offers 500 bonus points on activation. 
• The credit card provides 500 bonus reward points on transactions of Rs. 5000 in the first 45 days.

Eligibility

You do not have to possess an impressive credit history or show income proof to avail of the Dream Different Credit Card. The eligibility criteria for the card are mentioned below.

• The primary cardholder for the Kotak Mahindra Bank FD credit card should be between the age of 18 to 75 years.
• The minimum credit limit amount for non-savings accounts customers is Rs. 9,000.
• The minimum credit limit for savings accounts customers is Rs. 5,000.
• Only individual Fixed Deposits are applicable.
• The account holder should be a resident Indian.
• Non-Resident Indian customers can apply through the offline process only.

Documents Required

The bank will use the KYC information and documents you have provided during the opening of your fixed deposits. Hence, you don’t need to provide any other documents while applying for the Kotak Mahindra Bank FD credit card.

Interested account holders can apply for the Kotak 811 Dream Different Card on the official website of Kotak Mahindra Bank.

Other Cards Issued by Kotak Mahindra Bank

There are some other types of credit cards which are issued by Kotak Mahindra Bank for the benefit of the customers. These credit cards exclusively provide benefits for shopping, fuel and other daily living expenses, which happen quite frequently. Here is a list of these credit cards which are proffered by the Kotak Mahindra Bank.

• Kotak Royale Signature Credit Card: This credit card has an annual fee of Rs. 1000 and provides benefits on fuel purchases. It also benefits the cardholder by offering reward points.
• Kotak Privy League Signature Credit Card: With an annual fee of Rs. 5000, the Kotak Privy League Signature Credit Card provides excellent benefits to cardholders. It is most applicable for the expenses done on the everyday lifestyle.
• Kotak Corporate Platinum Credit Card: This card provides benefits for shopping and lifestyle. The annual fee is about Rs. 1000.
• Kotak Corporate Gold Credit Card: The Kotak Corporate Gold Credit Card provides lifestyle benefits to the cardholder and rewards on shopping expenses, with an annual fee of Rs. 1000.
• Kotak Corporate Wealth Signature Credit Card: This card does not levy any annual fee. It provides shopping and lifestyle benefits to cardholders.
• Kotak PVR Platinum Credit Card: The Kotak credit card provides the cardholder with 2 free PVR movie tickets on spending Rs. 10,000 per month. It has a first-year fee of Rs. 999 and does not have any joining perks.

Conclusion

While you apply for the Kotak Mahindra Bank FD credit card, keep a few things in mind. You must pay your credit card bills on time. Payment failure will enable the bank to recover the due money from your FD. Also, this card can have a direct impact on your credit score. You can use it wisely and make timely payments to boost your credit score. However, if you can’t manage the card properly, your credit score will take decrease.

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