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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). The 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 learn more about this Privy League exclusive offering by the Kotak Mahindra Bank.

Kotak Privy League Signature Credit Card
(4.4/5)

Fees

Joining Fee

Nil (For Both Variants)

Renewal Fee

Rs. 2,500 + GST (for the Paid Variant), Nil (for Free Variant)

Best Suited For

Shopping |

Reward Type

Reward Points

Welcome Benefits

N/A

Movie & Dining

NA

Rewards Rate

5x Reward Points on select retail shopping and travel spends, 2x Reward Points on all other spends and 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

2 Complimentary visits to the Dream Folks Lounges in India 

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

NA

Zero Liability Protection

Zero liability against fraudulent transactions if loss or theft is reported to the bank within the specified time frame.

Spend Based Waiver

The annual membership fee will be waived off if the cardholder spends 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 Charges

Rs. 300 per Rs. 10,000 withdrawn or part thereof

Add-on Card Fee

Nil

  • The card is exclusive to Privy customers of the bank and is offered in two variants- the paid variant and the free variant.
  • 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 three months of the previous quarter (applicable only for paid variant).
  • Bonus reward points for achieving incremental spending milestones.
  • Complimentary domestic airport lounge access and Priority Pass membership (4 complimentary visits with Priority Pass on the paid variant).
  • A lower interest rate of 2.49% per month.
  • Fuel and railway surcharge waiver.
  • Premium concierge service regarding hotel/flight bookings, spa/fitness centre information, referral assistance, etc.

Kotak Privy League Signature Credit Card Rewards

You can choose between two plans – the Shopper’s Plan and the Traveller’s Plan to earn 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 spends of Rs. 100 at select shopping categories like apparel, grocery, consumer durable, multi-brand online and departmental stores and 2X Points on all other spends.
  • Traveller’s Plan- 5X Reward Points on spends of Rs. 100 at select travel categories like airlines, hotels, duty-free, international spends and travel agencies and 2X Points on all other spends.

1 Reward Point = Rs. 0.25

For Free Variant

  • Shopper’s Plan- 5X Reward Points on spends of Rs. 100 at select retail shopping categories like apparel, jewellery, consumer durable, restaurants, departmental stores and 2X Points on all other spends.
  • Traveller’s Plan-  5X Reward Points on spends of Rs. 100 at select travel-related categories, including airlines, hotels, restaurants, international spends and travel agencies and 2X Points on all other spends.

1 Reward Point = Rs. 0.25

Reward Redemption

  • The reward points that you earn with this credit card can be redeemed on the Kotak Reward Redemption portal for purchasing products, shopping vouchers, mobile recharges, movie/travel ticket bookings, etc.
  • They can also be redeemed for shopping at partner merchants (including brands like Puma, Archies, etc.) under Kotak’s PayByPoints program.
  • 1 Reward Point = Rs. 0.25.
  • The validity period of reward points is two years from the date of accumulation.

Kotak Privy League Signature Credit Card Milestone Benefits

You get spend-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

The cardholders will not be liable for any fraudulent transaction that takes place through their card in the case of loss or theft of the card if the same is being reported to the bank within 7 days of the loss of the card. Furthermore, you will also get an insurance cover worth Rs. 2.5 Lakhs.

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,
  • Resident of India,
  • The minimum age for an add-on credit card holder is 18 years,
  • This card is available to customers located in Chandigarh, Ahmedabad, Bangalore, Chennai, Delhi, Gurgaon, Noida, Hyderabad, Kolkata, Mumbai and Pune.

How to Apply for Kotak Privy League Signature Credit Card?

Applying for Kotak cards is very simple. You can apply online by simply clicking on the Apply Now button appearing on your screen. You will be required to submit a few documents like identity/address proof (like an Aadhaar card, Voter card, driver’s license, etc.) for KYC and proof of income like salary slips (for salaried applicants) or ITR (for self-employed applicants).

Kotak 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 a card you can dial 1800 209 0000 (24×7 operational toll-free number).

Kotak Privy League Signature Credit Card Review by Card Insider

Since the card is exclusive to 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 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, there is no reason to skip, at least the free variant. The best part about this card is that you can customise the benefits as per your needs- you get the option to choose between the Shopper’s and the Traveller’s plan.

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.

2 Comments

  1. Rahul Reply

    Is this card discontinued?

    • Kartik Kanwar Reply

      No, applications are being accepted. This is an active credit card. You can apply.

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