Kotak Mahindra Privy League Signature Credit Card Review

Kotak Mahindra has introduced a premium credit card for their premium customers, named Kotak Mahindra Privy League Signature Credit Card, this card comes in two variants Paid and free. Both variants offer some special benefits for their customers like reward benefit, free movie tickets, fuel and railway surcharge waiver, concierge service, free movie tickets, dining benefits, etc.  

Eligibility Criteria:

  • Resident Type: Indian. 
  • For salaried person:
    • Age: 21 to 65 years. 
    • Income: The applicant should be a Privy league customer and maintain a ₹1 lakh quarterly balance in his/her account. 
  • For self-employed person:
    • Age: 21 to 65 years. 
    • Income: The applicant should be a Privy league customer and maintain a ₹1 lakh quarterly balance in his/her account.
  • The applicant should be a Privy League customer.   
  • This card is available in Bangalore, Chandigarh, Delhi, Mumbai, Pune, Kolkata, and Hyderabad.  
  • Good CIBIL score. (750)

Required Documents:

  • Photocopy of ID Proof (any 1)
    • Aadhar card
    • Voter Card
    • Passport
    • PAN Card
  • Photocopy of Address proof (any 1) 
    • Last 6 months bank account Statement
    • Aadhar Card 
    • Driving License 
    • Passport
    • Utility bill
  • One recent passport-sized photographs
  • Proof of income statement:
    • Salaried Person (any 1)
      •  Salary Slip of the last 3 months 
      • ITR
    • Self-employed person
      • Income tax return of the last year 
      • Proof of business
      • Recent audited financial report. 

Fee:

  • Joining Fee: None. 
  • Annual Fee: ₹2500 (for the paid one) & None for the free card. 

Benefits:

  • Reward Benefit: 
  • For the paid card: 

Shopper’s Plan:

You will get 5X points on Groceries, Departmental stores, Consumer durables, and departmental stores. You will also get 2X reward points for other categories.

Traveller’s plan:

This card offers 5X reward points from your spending on Hotel booking, Air tickets, International spends, and travel booking. You will also get 2X reward points in other categories. The minimum transaction amount is ₹100. 

  • For the free card: 

Shopper’s Plan:

Get 5X reward points for your spending on jewelry, departmental stores, restaurants, consumer durables, etc. 

You will also get 2X reward points for all other categories. 

Traveler’s Plan: 

You will get 5X reward points on flight & hotel booking, restaurants, travel booking, and international spending. You will also get 2X reward points for other categories. The minimum transaction amount is ₹100.  

  • Lounge access: 

With your Kotak Mahindra Privy League Signature Credit Card, you will get 4 free VIP access to most of the premium airport lounges in the world. You will also get free internet access and some refreshments. 

This offer applies to paid customers only. With the free version, you will get a priority pass membership for the first year only with no lounge access.

  • Dining benefit:

With this card, you will get free membership of Taj Epicure Plus. It offers you 25% savings on your dining bill at Taj restaurants. 

  • Free movie tickets:

This card offers 4 free PVR movie tickets per quarter. You can redeem those tickets online.  

  • Bonus reward for the paid customers:

You can also earn some bonus reward points, if you can spend monthly ₹1,000 for 3 months, you will get 6400 points at the end of the quarter. For example, if you spend ₹1000 in January, February, and March, then you will get 6400 points in April. This offer applies to paid customers only.   

  • Fuel surcharge waiver:

With this card you will get a 1% waiver on fuel surcharges, this offer applies to most of the fuel stations in India. The transaction amount should be between ₹400 to ₹4,000.   

  • Concierge Service:

You will also get a 24X7 active concierge service with this card, you can get assistance from them for hotel booking, assistance on some special events, flight booking, and lots more. you can call them at +91 22 4232 0244 or you can mail them at [email protected] 

  • Railway surcharge waiver:

With your Kotak Mahindra Privy League Signature Credit Card, you will get up to a 2.5% waiver on railway surcharges. You can earn a maximum of ₹500 waivers in a year. This offer is applicable on the tickets booked at counters and on the tickets booked online. 

  • Annual fee waiver: 

For the paid customers there is also an annual fee waiver option, if you can spend ₹5 lakh within a year then the annual fee for the next year will be waived off. 

  • EMI facility:

With this card, you can turn any of your high-value purchases into easy EMIs. The minimum bill amount should be ₹2,500

  • Balance transfer:

You can now transfer the outstanding of your other card to your Kotak Mahindra Privy League Signature Credit Card to get an interest free period of 3 months. You will have to pay a processing fee of ₹349.  

  • Fraud Coverage:

Now you don’t need to worry about your lost or stolen cards. As your Kotak Mahindra Privy League Signature Credit Card comes with a coverage of ₹2,50,000 against fraudulent or unauthorized transactions. To avail of the benefits of this coverage, you have to report within 7 days.  

  • Active customer service:

With Kotak Mahindra, you will get an active and always helpful customer service experience. Also with their priority attend service you can get assistance within minutes. Just SMS ‘KPRIVY’ and you get a call back within 30 minutes.  

Charges:

  • Cash Withdrawal Charge: ₹300.
  • Finance Charge: 2.49% Monthly. 
  • Foreign currency transaction: 2% for the paid card & 3.5% for the free card. 

Contact Details:

Call: 1800 266 2666

Mail: [email protected]

Dispute Resolution Process:

If you notice some unauthorized transaction or any miscalculation in your card statement, or if your card is lost or stolen, you should act fast. In such situations, you may follow these steps.

  • First of all, call customer service and tell them your problem, they will help you to solve it. If your card is lost or stolen you should ask them to block your card immediately.
  • If this does not work, then you can mail the Kotak Mahindra Service assurance center. You can directly contact them from Kotak Mahindra’s grievance redressal page.  
  • If you do not get any response within 1 to 7 days, you can either submit a Grievances or you can mail the principal nodal officer at  [email protected] 

If you are still not satisfied with the service, you can go to the Banking Ombudsman of your locality. You can find the contact details from your branch or the Reserve Bank of India’s official website.

100xGain Ratings: 

Final Opinion:

This card is specially designed for Kotak Mahindra’s Premium customers. Although the annual fee of the paid version is high, you will get four free lounge access, concierge service, free movie tickets, bonus reward points, and lots more in return. So if you are eligible and you are planning to get this card, go for the paid version of the card, it will be much more beneficial. 

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