Kotak 811 Credit Card Fees and Charges, Eligibility, Application Process

What is Kotak 811 Credit Card(Kotak 811 Dream Different Credit Card) Kotak 811 Dream Different Credit Card is a credit card provided by Kotak Mahindra Bank. There is no annual fee, no membership fee, no fee on the supplementary cards, and no fee on that card. It is also known as an good initiative of the Kotak Mahindra Bank. Motive of this card is that everyone can get their own credit card. 

Kotak 811 Dream Different credit card is a counter FD card that you can take advantage of by connecting your existing FD or reserve a fixed deposit of at least Rs.15,000.

Kotak 811 Credit Card and Dream Different Credit Card
Kotak 811 Credit Card and Dream Different Credit Card

The online application process of the Kotak 811 credit card is very easy and fast. Full KYC customers i.e. Kotak 811 customers who have completed the full KYC process by going to the bank branch or taking a full KYC appointment may request a credit card.

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Key Features and benefits of Kotak 811 Credit Card 

Here are the details of the Key Features and Benefits of the Kotak 811 Dream Different credit card:

Key Features:

  1. Spend Money and Get Rewards – 1 reward point for every Rs. 100 spent for all categories, excluding fuel, rail expenditures and cash withdrawals. 2X rewards on online expenses.
  1. Fuel Surcharge Exemption – 1 percent exemption for all fuel transactions between Rs. 500 and Rs. 3,000. The yearly maximum additional fees are capped at Rs. 3,500.
  1. Exemption from additional railway charges – 1.8% exemption from additional charges when booking a ticket by IRCTC Online and 2.5% of the additional costs at railway reservation counters.
  1. Get complementary (Add-on)cards – Get complementary cards with your Kotak 811 card with the same advantages. In addition, set expenditure limits and track expenditures separately.
  1. High Cash Withdrawal Limit – Up to 90% of your credit limit is available for withdrawal. You will not get such a cash withdrawal  limit on any other credit card.
  1. Low Interest Rates – The interest rate (finance charges) on Kotak 811 Dream Different credit card is 2.99% monthly.
  1. Interest-Free Money Withdrawal – No interest will be charged for a maximum of 45 days on cash withdrawals. However, charges for processing Rs. 300 per Rs. 10,000 will be applicable.

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  1. Welcome Bonus for New Users- Spend Rs 5,000 within the first 45 days of the card being rolled out and get 500 bonus reward points.
  2. Milestone Advantage – Meet annual expenditures Rs. 75,000 and get Rs. 750 cashbacks and 4 PVR Movie Tickets.
  3. Lost Card Liability Cover – If you lose your card, obtain Rs. 50,000 for unauthorized use up to 7 days prior to notice of such loss. Phone 1860 266 2666 to have your card locked.
  4. Build a good credit rating/fix a bad Credit Score –  Proper credit card usage and timely payment of bills can help establish a credit history or correct the credit score. Banks forward payment history to credit bureaus that help create a credit history. A good credit report facilitates the application of credit cards or ordinary loans.
  5. Starts with a Low Fixed Deposit – The minimum FD amount required to take advantage of the Kotak 811 credit card is the lowest in the area. With a minimal deposit of Rs.15,000, you can request a Kotak 811 credit card online.
  6. High Credit  Card Limit – While your fixed deposit will set your credit limit, the maximum credit limit that users can take advantage of is Rs.12 lakhs.
  7. Get interest on your fixed investment – As your 811 credit card is used, the linked fixed deposit will continue to recover current interest rates. This means that in addition to the reward points and money you used using the credit card, you may also earn an interest rate on your FD.

Eligibility Criteria for Kotak 811 Credit Card

Here are the eligibility criteria you will need to fill out to apply for this credit card.

  1. The minimum and maximum age for entitlement is 18 and 75 respectively. Additional cardholders must be over the age of 18.
  2. The applicant must be a resident of India.
  3. Minimal TD amount of Rs.15,000.
  4. Only individual TD’s are authorized to submit a card application.
  5. You will also be required to provide copies of the KYC documents, including proof of identity and proof of address when opening the term deposit account. You can only get the #DreamDifferent Kotak 811 card once you have successfully opened the term deposit.

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Annual Fee and Charges on Kotak 811 Credit Card 

  • Annual Charges/Joining Fee – Nil (There is no Joining fee or Annual Charge for this Credit Card)
  •  Card Reissue/Replacement Charges – Rs. 100/-
  • Charges on Cash Withdrawal – Rs. 300 processing fee on every Rs. 10,000 withdrawal.
  • Interest on Product Finance with Card – 2.99% interest per month (35.88% annually).
  • Late Payment/Outstanding Payment Charges –  (1) Rs. 100 for Less than or equal to Rs. 500 outstanding Payment. (2) Rs. 500 for Between Rs. 500.01 to Rs. 10,000 outstanding Payment. (3) Rs. 700 for Greater than Rs. 10,000 outstanding Payment.

Documents Required for Kotak 811 Credit Card 

Here are the Documents required for Kotak 811 Credit Card. You have to provide copies of the KYC documents, including proof of identity and proof of address when opening the term deposit account. You can use the following Documents for this: 

  1. Aadhar Card 
  2. PAN Card 

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Application Process for Kotak 811 Credit Card 

If you are planning to get Kotak 811 Dream Different  Credit Card, then you can apply for this card through the following process If you don’t have a Kotak 811 account, you can download the app and open a new Kotak 811 Account.

Step 1: First of all you have to Login to your Kotak mobile banking app. If you don’t have a Kotak 811 bank account, you can download the Kotak 811 Application and open a new account. 

Step 2: Go to the Credit Card option in the ‘Apply now’ section.

If you are eligible to use the Kotak 811 credit card, the Kotak 811 credit card will be displayed. Tap on ‘Get it now’.

Step 3: Review the features of the credit card and press Continue.

Step 4: Select the credit card delivery address.

Step 5: Set the credit limit for the card. The maximum credit limit of the card is 80% of the amount of the lump sum deposit reserved.

Step 6: Select from an existing fixed deposit to connect to the credit card or to reserve a new deposit. The minimum repository should be Rs.15,000.

Step 7: Agree with the terms and conditions.

The on-line application process is complete and you will receive the credit card in a few business days.

FAQs for Kotak 811 Credit Card

Can I use a Dream Different Credit Card in foreign countries?

Yes, a user can use his/her Dream Different Credit card in foreign countries also.

How much amount do I need to deposit in my Kotak 811 ac as a fixed deposit to get a Dream Different Credit card?

You have to deposit a minimum of Rs. 15000 amount in your bank AC as a fixed deposit to get eligible for this card.

Is Kotak 811 Dream Different Credit Card like other credit cards?

Yes, Dream Different Credit Card is just like other credit cards. You can shop with this card, pay your bills and you will also get reward points on online shopping.

Will I get a Kotak 811 Credit Card in a physical form?

Yes, you will get a physical card as well as a digital card on your Kotak 811 Application.

Do I need to pay a Joining fee/ Annual fee for a Dream Different credit card?

No, You do not need to pay any kind of joining fee or annual fee for your Dream Different Credit Card.

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