Credit cards save us the hassle of carrying a lot of cash and converting it into foreign currencies whenever we travel outside our country. We can easily swipe our card at any foreign merchant that accepts it and make our payments.

One thing you must keep in mind now is the 20% TCS charged when you make international spends of more than Rs. 7 Lakhs in a financial year. Also, the card issuers charge a forex markup fee of almost 3-3.5% of the transaction amount every time you make an international transaction. A good news for frequent travellers is that Kotak Mahindra Bank has launched an offer on its Visa credit cards where cardholders can earn cashback on spending USD 2023, or its equivalent, on international transactions.

Spends with your Kotak Mahindra Visa Credit Cards

This offer is great for people who regularly make foreign currency spends as they can receive some of their money back. Read on to know more about the offer and its details.

Cashback on Kotak Visa Credit Cards – Offer Details

The above-mentioned offer runs from 13th June 2023 to 13th September 2023. During the offer period, Kotak Visa credit cardholders can earn flat Rs. 2023 as cashback on spending USD 2023, or its equivalent in another foreign currency, on international transactions.

The offer is appliable only to Kotak Mahindra Visa credit cards and only for cardholders who receive an official offer communication by the bank through Email or SMS.

Offer Terms and Conditions

The following are the terms and conditions associated with the cashback offer –

∙ The offer applies only to Kotak Mahindra Bank Visa credit cardholders and only those who received an official communication from the bank regarding the offer.

∙ The offer period extends from 13th June 2023 to 13th September 2023, inclusive of both days.

∙ The offer is valid only on international spends with the Visa credit card. If the payment is made in any other currency apart from USD, the transaction amount is calculated based on the Global Currency exchange rate at the time of transaction settlement.

∙ Any transaction done in INR won’t be eligible to receive the cashback.

∙ Cash payments, balance transfers, cancelled, and reversed transactions are not eligible to receive the cashback.

∙ Eligible cardholders can earn a maximum of Rs. 2023 as cashback and it is credited to the cardholder’s account within 90 days post offer closure.

∙ International transactions made with add-on cards are considered towards the offer, but the cashback is credited only to the primary cardholder’s account.

∙ If a customer has multiple Kotak Visa credit cards, the offer is applicable only on the card regarding which the customer receives the offer communication.

∙ Delinquent cardholders are not eligible for the offer, and the offer cannot be negotiated, encashed, or transferred.

∙ Kotak Mahindra Bank has the right to change, modify, or cancel the terms of this offer at any time, without any prior notice to the customers.


If you are someone who regularly uses their credit card to make international transactions or foreign currency spends, then you must be aware about the extra fees and charges you have to pay for forex markup. These charges can add up over time and become an unnecessary expense on your pockets.

This cashback offer on Kotak Mahindra Visa credit cards is great and will allow you to receive some of your money back which you spend on your foreign trips. Recently, similar offers were launched by Axis Bank and ICICI Bank on foreign currency spends with Visa credit cards. Make sure to read the terms and conditions of the deal thoroughly so you can avail maximum benefit out of it.

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