By Rajat Gaur
Updated On September 20, 2021

Kotak Privy League Signature Credit Card is a premium card offered by Kotak Mahindra bank exclusively for its Privy customers. It is a Visa credit card and comes in two variants – the free and the paid variant. You are allowed to choose between two plans- the Shopper’s Plan and the Traveller’s Plan depending upon your spending requirements. With the Shopper’s plan, as is obvious from the name, you earn accelerated reward points on retail shopping spends (select categories only), same is applicable for the Traveller’s plan, but for spends on select travel categories. Apart from the regular reward points, you also earn bonus reward points on achieving the stipulated milestones. You also get complimentary domestic lounge access and Priority Pass membership with both, the free and the paid variants, however, the premium variant also gives you four complimentary international lounge access under the Priority Pass program. Read on to know more about this Privy League exclusive offering by the Kotak Mahindra bank.

Best Suited For

Shopping |

Joining Fee

Rs. 2,500 + GST (for paid variant), Nil (for free variant)

Reward Type

Reward Points |

Product Details

  • The card is exclusive for privy customers of the bank and is offered in two variants- the paid variant and the free variant.
  • You can choose between two plans- the shopper’s plan and the traveller’s plan.
  • Under the shopper’s plan, you get 5X reward points on select shopping categories (the categories slightly differ for the two variants) and 2X reward points on all other spends.
  • Traveller’s plan earns you 5X reward points on select travel categories (categories different for the two variants), and 2X points on all other spends.
  • 6,400 bonus reward points every quarter on expenditure of Rs. 1,000 in all the three months of the previous quarter (applicable only for paid variant).
  • Bonus reward points on achieving incremental spends based milestones.
  • Complimentary domestic airport lounge access and Priority Pass membership (4 complimentary visits with Priority Pass on the paid variant).
  • Lower interest rate of 2.49% per month.
  • Protection against unauthorised transactions worth Rs. 2.5 lakh.
  • Fuel and railway surcharge waiver.
  • Premium concierge service regarding hotel/flight bookings, spa/fitness centre information, referral assistance, etc.
  • Fuel and railway surcharge waiver.

Rewards and Benefits

Welcome Benefits

N/A

Movie & Dining

N/A

Rewards Rate

5X reward points on select retail shopping spends and 2X points on all other spends on the shopper’s plan; 5X reward points on travel spends and 2X points on all other spends on the traveler’s plan

Reward Redemption

Reward Points redeemable on Kotak reward redemption portal.

Travel

Complimentary domestic lounge access, Priority Pass membership, 4 complimentary lounge visits / year visits with Priority Pass (paid variant only)

Golf

N/A

Domestic Lounge Access

Complimentary domestic lounge access under the Visa Domestic Lounge program

International Lounge Access

Complimentary Priority Pass membership (with both variants), 4 complimentary lounge visits every year visits with Priority Pass (paid variant only)

Insurance Benefits

Insurance cover worth Rs. 2.5 lakh against unauthorized use of the card applicable from 7 days prior to reporting the loss of card

Zero Liability Protection

Zero liability protection worth Rs. 2.5 lakh

Fees & Charges

Joining Fee

Rs. 2,500 + GST (for paid variant), Nil (for free variant)

Renewal Fee

Rs. 2,500 + GST (for paid variant), Nil for the free variant

Spend based Waiver

Annual membership fee waived off on expenditure of Rs. 5 lakh in the preceding year or by maintaining Insignia or True Optima Banking Relationship

Rewards Redemption Fee

Nil

Rewards Redemption Fee

Nil

Foreign Currency Markup

2% for paid variant and 3.5% for the free variant (exclusive of GST)

Interest Rates

2.49% per month (29.88% annually)

Fuel Surcharge

Waived

Cash Advance Charge

Rs. 300 per Rs. 10,000 withdrawn or part thereof

Add-on Card Fee

Nil

Kotak Privy League Signature Credit Card Rewards:

You can choose between two plans – the Shopper’s Plan and the Traveller’s Plan for earning reward points on this credit card. The reward benefits differ based on the plan you choose.

For the Paid Variant-

  • Shopper’s Plan- 5X Reward Points on select shopping categories like apparels, grocery, consumer durable, multi-brand online and, departmental stores and 2X Points on all other spends.
  • Traveller’s Plan- 5X Reward Points on select travel categories like airlines, hotels, duty-free, international spends and travel agencies and 2X Points on all other spends.

For Free Variant-

  • Shopper’s Plan- 5X Reward Points on select retail shopping categories like apparels, jewelry, consumer durable, restaurants, departmental stores and 2X Points on all other spends.
  • Traveller’s Plan-  5X Reward Points on select travel-related categories including airlines, hotels, restaurants, international spends and travel agencies and 2X Points on all other spends.

Reward Redemption:

  • Kotak Reward Points can be redeemed on the Kotak Reward Redemption portal for purchasing products, shopping vouchers, mobile recharges, movie/travel ticket bookings, etc.
  • The Reward Points can also be redeemed for shopping at partner merchants (including brands like Puma, Archies, Giny & Jony, etc.) under Kotak’s PayByPoints program.
  • The monetary value of the Reward Points is Rs. 0.25.
  • The Reward Points are valid only for a period of 2 years from the date of accural.

Kotak Privy League Signature Credit Card Milestone Benefits:

You get spends based milestone benefits on the credit card based on the spendings in an anniversary year. The benefits are earned as per the tables below-

For the Paid Variant-

Milestone Bonus Reward Points
Spend Rs. 3,00,000 7000
Spend Rs. 8,00,000 30000

For the Free Variant-

Milestone Bonus Reward Points
Spend Rs. 4,00,000 10,000
Spend Rs. 8,00,000 30,000

Insurance Benefit:

You get an insurance cover worth Rs. 2.5 lakh under which the cardmember is not liable for any fraudulent transaction made using the card up to 7 days prior to the time of reporting the loss of card.

Surcharge Waiver:

  • Waiver of 1.8% to 2.5% on rail tickets booked on the IRCTC website (max waiver capped at Rs. 500/year).
  • 1% fuel surcharge waiver on fuel purchases for transactions between Rs. 400 and Rs. 4,000 (max waiver capped at Rs. 4,500 per year).

Kotak Privy League Signature Credit Card Eligibility:

To be eligible for the credit card, you must be-

  • a Privy League banking customer.
  • in the age bracket of 21 years and 65 years.
  • located in one of the following cities- Chandigarh, Ahmedabad, Bangalore, Chennai, Delhi, Gurgoan, Noida, Hyderabad, Kolkata, Mumbai and Pune.

How to apply:

Applying for Kotak cards is very simple. You can apply online by simply visiting the card’s page on the bank’s website. Alternatively, you can also fill this form on the bank’s website, and their officials will get in touch with you. You will need a few documents like identity/address proof (like Aadhar card, Voter card, driving license, etc.) for KYC and a proof of income like salary slips (for salaried applicants) or ITR (for self employes applicants).

Customer Care:

  • Kotak Mahindra bank offers priority customer care support to its Privy League Signature card holders. In case you have any query or any issue regarding the card, you may simply SMS ‘KPRIVY’ and the bank officials will call you back within 30 minutes to resolve the same.
  • To report the loss of card you can dial 1800 209 0000 (24×7 operational toll-free number).

Conclusion:

Since the card is exclusive for the privy league members, it would be unfair to compare it with any other credit card in the market. One of the variants of the card is complimentary for the privy league banking customers, an annual fee of  Rs. 2,500 is applicable for the other variant. While you get a few additional benefits like complimentary international lounge visits, better milestone benefits and bonus reward points with the paid variant, the free variant also offers a decent reward rate. If you’re a privy league member, they is no reason to skip, at least the free variant. The best part about this card is that you can customize the benefits as per your needs- you get the option to choose between the Shopper’s and the Traveller’s plan.

That was our take. What do you think about this offering by the Kotak Mahindra bank? Do let us know in the comments. If you’re an existing card user, don’t forget to share your experience.

FAQs:

No. Only Privy customers of the bank are eligible for this credit card.

Kotak reward points are valid for 2 years from the date of accrual and expire thereafter.

You get 4 complimentary lounge visits per annum with the Priority Pass only with the paid variant of the card.

You get 64,000 bonus reward points only with the paid variant. Milestone benefits are applicable for both paid as well as the free variant; however the milestones and the benefits earned are different for the two variants.

Yes, the card does support contactless payments with the Visa payWave technology. You don’t even have to enter the PIN for transactions up to Rs. 5,000.

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