The Kotak Corporate Gold Credit Card is a great business card issued by Kotak Mahindra Bank. This card is issued in two variants, namely Basic and Classic, out of which, the Classic variant is the more premium one. The basic variant is a lifetime free credit card, however, the Classic variant comes with an annual fee of Rs. 1,000, which needs to be paid every year from the second year of card membership. Like general credit cards, the Corporate Gold Card also offers a decent reward rate, however, the redemption process is a bit different from that of general cards.
Talking about the business-related features and benefits of this credit card, it makes it very much easier and more convenient for business owners to manage their company expenses. They can get a card for each of their employees and assign credit limits to them on the basis of their requirements. Not only this but the employers are also free from confusing payments as they can make consolidated payments for all the cards instead of paying individual employer’s credit card bills. For more information related to the Kotak Bank Corporate Gold Credit Card and its detailed features, keep reading the article:
Kotak Bank Corporate Gold Credit Card
Best Suited For
Reward Points |
- Issues in two variants, of which, one is lifetime free.
- Earn exclusive reward points on all spends.
- Easy redemption of Reward Points by calling customer care.
- Employers can keep a track of the spending pattern of their employees.
- A 1% fuel surcharge waiver is provided.
- Employers have the convenience of consolidated payment.
Rewards and Benefits
Movie & Dining
Get a decent reward rate on all your spends.
The earned Reward Points can be redeemed by calling customer care (1 Reward Point = Re. 0.25).
Domestic Lounge Access
International Lounge Access
Zero Liability Protection
The cardholder is not liable for any fraudulent transactions made on a lost/stolen card if the loss is reported to the bank in a timely manner.
Fees & Charges
Nil for Basic variant
Rs. 1,000 for Classic variant
Spend based Waiver
Rewards Redemption Fee
Rewards Redemption Fee
Foreign Currency Markup
3.5% of the total transaction amount
3.30% per month
1% fuel surcharge waiver on all fuel transactions between Rs. 500 and Rs. 3,000.
Cash Advance Charge
Add-on Card Fee
Kotak Corporate Gold Credit Card Features and Benefits
The Corporate Gold Credit Card is a great option for startups as well as for those who want to get a great card for their business spends. The following are some of the most significant features of this card:
Convenience For Employers
The Kotak Bank Corporate Gold Card makes a lot of tasks easier for employers. Some of these are as follows:
- The employers can control the spends made by employees as they can track all their purchases as well as the name of the brand/merchant where they have spent a particular amount.
- It helps employers strategize their expenses in a proper manner and save on all their spends by earning rewards.
- Employers can decide the credit limits for their employees. These limits may vary on the basis of their respective requirements.
- They can make consolidated payments, i.e, there is no need to make separate payments for separate employees.
Ease For Employees
- Employees don’t need to worry about any late payment charges as the corporate pay their bills.
- They can make spend whenever it’s necessary without facing a cash crunch.
Other than the services mentioned above, the card offers the following additional privileges:
- The card issuer provides the employer with statistical data for easy analysis of expenses.
- They can analyze the amounts spent by each employee.
Kotak Bank Corporate Gold Credit Card Rewards
- With the Kotak Bank Corporate Gold Card, you can earn a decent number of rewards on all your spends. Though the reward rate has not been specified clearly by the issuer, you can ask the same by contacting the bank’s customer care or by visiting your nearest branch.
- The Reward Points earned via this credit card can be redeemed by contacting the Kotak Bank Credit Card customer care once every quarter.
Kotak Corporate Gold Credit Card Fees and Charges
Some of the important fees and charges associated with the Kotak Bank Corporate Gold Card are as mentioned below:
- The joining, as well as the annual fee of the Kotak Corporate Gold Credit Card’s basic variant, is zero. However, the Classic variant comes with an annual fee of Rs. 1,000.
- The interest rate on this credit card is 3.3% per month.
- The foreign currency markup fee on the Kotak Corporate Gold Card is 3.5% of the total transaction amount.
- The cash advance fee of the Kotak Bank Corporate Gold Credit Card is zero.
Kotak Bank Corporate Gold Credit Card Eligibility Criteria
The eligibility criteria that need to be fulfilled by the applicants in order to get approved for the Kotak Corporate Gold Credit Card are:
- The age of the applicant should be a minimum of 21 years.
- The applicant should have a business with a decent income. The income requirements for the Classic variant might be a bit high compared to that for the basic variant.
- The credit score of the applicant or that of the business might also be considered.
The documents required to apply for the Kotak Bank Corporate Gold Credit Card are listed below:
- Identity Proof: PAN Card, Aadhar Card, Driving License, Voter’s Id, Passport, etc.
- Address Proof: Aadhar Card, Latest utility bills or the office as well as the residence of the applicant, etc.
- Other than the documents mentioned above, you might also need to submit your business registration certificate, latest audited ITR, passport-sized photograph, etc.
How To Apply For The Kotak Bank Corporate Gold Credit Card?
You can apply for the Kotak Corporate Gold Credit Card online as well as offline at your convenience. To apply offline, visit your nearest Kotak Bank branch with all the required documents and apply for the card by filling in the physical application form. To apply online, you can follow a few simple steps as mentioned below:
- Visit Kotak Bank’s official website.
- Under the ‘Explore Products’ option, select credit cards.
- Find the Kotak bank Corporate Gold Credit Card and click on that.
- You will be redirected to the Gold Credit Card page.
- Click on ‘Apply Now.’
- Proceed further by filling in the required details.
The Kotak Bank Corporate Gold Credit Card is missed in two variants keeping different types of businesses in mind. One can choose the basic or the classic variant as per their/ the company’s requirements. Though there are not very good reward rates or lifestyle benefits, this card is a great option for those who want to keep the track of all their business-related expenses and save more every time they spend. This card doesn’t only provide the employers with an option to track their employees’ spends, but it also gives them other powers. For example, they can choose the credit limit for their employees as per their requirements and can also check where one employee is spending a particular amount. So, anyone who wants a decent credit card to manage their business expenses can go with the Kotak bank Corporate Gold Credit Card. Another card you must check is the BoB Corporate Credit Card.
This was the Kotak Corporate Gold Credit Card review from our side. Make sure to let us know your views on this in the comment section below!
The basic variant of the Kotak Corporate Gold Credit Card is lifetime free, however, the classic variant comes with an annual fee of Rs. 1,000.
Yes, the Kotak Corporate Gold Credit Card offers a 1% fuel surcharge waiver on all fuel transactions between Rs. 500 and Rs. 3,000.
You can request reward redemption by calling the Kotak Bank Credi Card customer care. The equivalent amount of cash will be sent to you.
Yes, you can apply online for this card via the Kotak Bank’s official website.