Kotak Silk Inspire Credit Card Review

The kotak silk inspire credit card is a unique credit card, designed specifically for women. This one-of-a-kind credit card is tailored to provide Indian housewives with financial freedom. This kotak silk credit card packs some really cool features like reward points on every transaction, a discount on fuel surcharges, complementary fraud liability coverage, etc. More about the kotak urbane credit card details are given below.

Kotak Mahindra Credit Card Eligibility Criteria:

  • Resident Type: Indian. 
  • For salaried person:
    • Age: 18 to 75 yrs. 
    • Income: You can get this kotak credit card on fd (fixed deposit) account.
  • For self-employed person:
    • Age: 18 to 75 yrs. 
    • Income: You can get this kotak mahindra bank credit card against fd account.
  • Minimum term deposit amount Rs. 50,000 (you will get a maximum of 80% of your FD amount as credit limit)
  • This kotak bank credit card is specifically designed for women.

You can apply for this secured credit card from the online kotak mahindra card application portal, once your kotak credit card application is submitted successfully, you will get an application id. You can use that to track the status of your application from the kotak bank application tracking page.

Documents Required To Apply For Kotak Credit Card:

  • 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:
    • You can get this kotak credit card without income proof.

As per the new credit card rules, all new kotak bank credit cards are delivered in an inactive state. The users can activate them by generating a new credit card PIN. You can find more about the kotak mahindra bank credit card pin generation process from the 100xGain FAQ page.

Silk Inspire Kotak Credit Card Fees:

  • Kotak silk card joining fee: Rs. 599 + GST
  • Kotak silk card annual fee: Rs. 599 + GST

Kotak Silk Inspire Credit Card Benefits:

  • Make every transaction rewarding:

Category of transaction

Rate of earning reward points

Shopping (Only garments and clothing)

5x Kotak credit card reward points for every Rs. 100 transactions

All other categories

1 Kotak credit card reward point for every Rs. 200 transactions 

You can use those kotak mahindra reward points for mobile recharge, flight tickets, movie tickets, you can also use those points to get a product from the kotak credit card reward redemption catalog. You can check the status of reward points from your kotak mahindra online banking account.

  • Get freedom from fuel surcharges:

With this kotak mahindra bank fd credit card, you can enjoy an annual waiver of Rs. 3500 on fuel surcharges, this fuel surcharge waiver offer is applicable at any fuel station in India. 

  • Complementary lost card liability coverage:

With this kotak bank card, you will get Rs. 75,000 coverage against lost cards, theft, or frauds. So if your card gets lost or stolen, you just have to report the loss by calling the kotak mahindra credit card customer care number and they will take care of it.

  • Extra benefits on milestone spending:

On spending Rs. 1,25,000 or more within six months, this kotak credit card offers you two bonus gift options to choose from, 1,000 kotak mahindra bank reward points, or 4 free PVR tickets. 

  • Make your card lifetime free:

On spending Rs. 1,25,000 or more within a year, you will get a complete waiver on your next year’s annual fee. So, if you want to make your card lifetime free, then you just have to keep spending Rs. 1,25,000 every year. You can check your kotak mahindra bank credit card status from your net banking account.

  • Lifetime free add-on cards for your family:

You can add your loved ones (age 18+) with your kotak mahindra bank credit card as add-on members and they will also have the privileges and benefits of having a credit card.

  • Get complete control over your account with the spend tracker tool:

Kotak Mahindra allows you to track the spendings of your add-on members, it gives you more control over your account. You can also set a monthly transaction limit for your add-on members from your kotak mahindra bank online banking account.

  • Pay your kotak credit card bills conveniently with multiple bill payment options:

You can make your kotak bank credit card payment online from your kotak credit card online banking account or from any credit card bill payment app like Cred, Google Pay, Phone pe, Paytm, etc. 

  • Use your card anywhere in the world without restrictions:

This kotak silk inspire credit card is globally accepted, you can use this card at any outlet or e-commerce site where the Visa Cards are accepted.  

Kotak Mahindra Bank Silk Inspire Credit Card Charges:

Particulars

Payable amount

Kotak credit card charges on cash withdrawal

Rs. 300 for each Rs. 10,000 withdrawal (Applicable once per withdrawal, you should also check your available Kotak credit card limit before making a withdrawal)

Kotak silk inspire card finance charge

The Kotak Mahindra bank credit card interest rate can go up to 2.99% monthly

Kotak bank credit card charges on currency conversion

3.5% against the transacted amount

Kotak Mahindra card add-on card fee

None

Kotak Credit Card Customer Care Contact Details:

  • Call the kotak credit card customer care toll free number: 1800-209-0000 (Toll-free) or 022-6600-6022
  • Write to the kotak credit card complaint mail id: customerfirst@kotak.com 

100xGain Ratings: 

6.5/10

 If you want to know how to cancel your old kotak mahindra credit card, then feel free to visit our FAQ page to know the kotak credit card cancellation procedure.

Pros and Cons of Kotak Silk Inspire Credit Card:

Pros

Cons

  • You can get this Kotak Mahindra credit card against FD which is very helpful for beginners
  • Also, this Kotak credit card features a low-interest rate
  • The reward earning rate is not that great
  • There are no dining and entertainment benefits on this card

Final Opinion:

If you are a housewife, and looking for a credit card that can help you in building a good credit score, then this kotak bank fd credit card will be a good option for you. But if you want to earn benefits, then this card has literally nothing to offer you. The rate of earning reward points is way too low, to get the annual fee waived off, you have to spend 1,25,000 in a year which can be difficult for a housewife. 

So if you want a credit card just to boost up your credit score, then visit our top 10 beginner’s credit card page and find out the card that suits your needs.

Alternative Cards: 

  1. BOB Premier Credit Card (Best for lounge access and fuel surcharge waivers)
  2. IDBI Bank Aspire Platinum Credit Card (Best for reward points and fuel surcharge waivers)
  3. Kotak Mahindra Solaris Platinum Credit Card (Best for reward points and fuel surcharge waivers)
  4. Syndicate Bank Global Credit Card (Best for reward points)

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