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Kotak Zen Signature Credit Card
Annual Fees
1500
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Percentage Savings range
0.75% - 1%
Use this card primarily for KayMall
Reward Type
Reward Points
Welcome Benefits
1500 Zen Points *
Minimum Income
4,80,000
Lounge Access
2 per quarter
Rewards
Core Rewards :
- 3.33% 5 Zen Points for Rs. 150 spent on online and offline spends
- 2% 2 Reward Points per Rs. 150 on online and offline transactions
- 10% 15 Reward Points per Rs. 150 on KayMall
- 6.67% 10 Reward Points per Rs. 150 on Apparels, Lifestyle goods, Departmental Stores & Jewellery
Milestone Rewards :
- Monthly : N/A
- Quaterly : N/A
- Annual : 7500 bonus Zen Points on annual spending of Rs 3,00,000 and 15000 bonus Zen Points on annual spending of Rs 6,00,000
No rewards on spends : Fuel, EMI
Rewards Redemption
How to Redeem :
- Redeem point on KayMall , Gift Voucher and Pay with Points
Redemption options : Gift Voucher, Pay with Points
Redemption fee : Not Appliciable
Transfer partners : N/A
Complementary Benefits
Lounge access :
- Domestic Lounge : 2 per quarter
- International Lounge : 3 per year
- Railway Lounge : N/A
Insurance Benefits :
- Lost card liability : N/A
- Personal accidental insurance : N/A
- Air accidental insurance : N/A
Other Benefits :
- Lounge Membership : PriorityPass - International Lounge Access
- Memberships Available With Cards : N/A
- Spa Benefits : N/A
Golf Benefits :
- Lessons : N/A
- Games : N/A
Fees
Joining fees : 1500
Annual fees : 1500
Welcome Benefits : 1500 Zen Points
Quaterly Benefits : N/A
Annual Benefits : N/A
Forex markup charges : 3.50%
Fee reversal criteria : Spend Rs. 1,50,000 in a year
Eligibility
Minimum age : 21
Minimum ITR : 4,80,000
Minimum Salary : 40,000
Kotak Zen Signature Credit Card Welcome Benefits
- Upon payment of the joining fee, cardholders of the Kotak Zen Signature Credit Card will receive a welcome benefit of 1500 Zen Points.
Kotak Zen Signature Credit Card Reward Points/Cashback
- Welcome Benefits: Receive 1,500 Zen Points upon payment of joining fees.
- Rewards Rate: Earn up to 15 Zen Points for every Rs. 150 spent on KayMall and up to 5 Zen Points for every Rs. 150 spent on other categories.
- Reward Redemption: 1 Zen Point is equivalent to Rs. 0.25 and can be redeemed for exclusive vouchers, discounts, or converted into cash.
- Travel Benefits: Enjoy complimentary lounge access worldwide, including domestic and international lounges.
- Milestone Rewards: Get 7,500 bonus Zen Points on annual spending of Rs. 3,00,000 and 15,000 bonus Zen Points on annual spending of Rs. 6,00,000.
- No rewards on fuel and EMI transactions.
Kotak Zen Signature Credit Card Reward Point Redemption
- You can easily redeem the reward points earned with the Kotak Zen Signature Credit Card through the following methods:
- Redeem points on KayMall
- Redeem for Gift Vouchers
- Pay with Points
- There is no redemption fee applicable, and the redemption rate is 1 Reward Point = Re. 0.25. With the Kotak Reward program, you can use your reward points to access exclusive vouchers, enjoy special discounts on partner deals and offers, and even convert the points into cash to cover your shopping expenses at partner merchant outlets.
Pros of Kotak Zen Signature Credit Card
- Lounge access: 2 domestic lounge visits per quarter and 3 international lounge visits per year.
- Reward Points: Earn Zen Points for shopping and other expenses, along with bonus points for annual spending milestones.
- Welcome Benefit: Receive 1500 Zen Points on payment of the joining fee.
- Surcharge Waiver: Enjoy fuel and railway surcharge waivers.
- Priority Program: Access instant support with a simple SMS.
- Add-On Card: Get additional cards with customizable limits.
- Security Features: Enhanced security with an embedded EMV chip.
- Visa PayWave: Make contactless payments by waving the card.
- Milestone Program: Earn extra rewards for reaching spending milestones.
- Insurance Benefits: Lost card liability coverage.
Cons of Kotak Zen Signature Credit Card
- Lower reward rate compared to other premium cards.
- Average returns on spending.
- High renewal fee waiver requirement of Rs 10 lakhs.
- Relatively high renewal fee of Rs. 4,999.
Kotak Zen Signature Credit Card Benefits
- Welcome Perks: Enjoy a Rs. 5,000 Gift Voucher from top brands.
- Milestone Rewards: Earn up to 15,000 Bonus Reward Points by meeting spending milestones.
- Travel Advantages: Free lounge access, hotel discounts, and club memberships.
- Airport Lounge Access: 2 domestic and 6 international lounge visits per year.
- Movie and Dining Benefits: Complimentary/discounted movie tickets and dining offers.
- Golf Privileges: Four free golf rounds, golf lesson, and discounts (MasterCard variant).
- Concierge Service: Assistance with various services.
- Lower Foreign Markup Fee: 1.99% on foreign transactions.
- Annual Fee Waiver: Spend Rs. 10 lakhs to waive the annual fee.
- Fuel Surcharge Waiver: 1% waiver on fuel transactions between Rs. 500 and Rs. 4,000, up to Rs. 250/month.
Kotak Zen Signature Credit Card Charges and Fee
- Spend-Based Fee Waiver: Annual renewal fee of Rs. 4,999 waived on spending Rs. 10 lakh or more in the previous year.
- Rewards Redemption Fee: Rs. 99 + taxes per redemption request.
- Foreign Currency Markup: 1.99% of the transaction amount for foreign currency transactions.
- Interest Rates: 3.50% per month (42% per annum).
- Fuel Surcharge: 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 4,000 at fuel stations (max waiver of Rs. 250/month).
- Cash Advance Charges: 2.5% of the transaction amount with a minimum charge of Rs. 500.
- Add-on Card Fee: No fee for add-on cards.
- Annual Fee: Rs. 4,999.
- Finance Charges: 42% per annum.
- Late Payment Charges: Vary based on the outstanding amount.
- Joining/Renewal Fee: Rs. 4,999 + GST with a welcome benefit of a Rs. 5,000 Gift Voucher. Renewal fee waived on spending Rs. 10 lakhs in a membership year.
- Forex Markup Charges: 3.50%.
- Fee Reversal Criteria: Spend Rs. 10 lakhs in a year to reverse the annual fee.
Frequently Asked Questions
- Q: How can I apply for the Kotak Zen Signature Credit Card?
A: You can apply for the Kotak Zen Signature Credit Card online through the Kotak Mahindra Bank website or by visiting a Kotak Mahindra Bank branch. - Q: What is the eligibility criteria for this card?
A: Eligibility criteria typically include a minimum age, income requirement, and credit score. Check with Kotak Mahindra Bank for the specific criteria. - Q: Can I get my annual fee waived?
A: Yes, the annual fee can be waived on annual spends of Rs. 10 lakhs or more. - Q: How do I redeem reward points?
A: You can redeem reward points for gift vouchers and statement cash. There is a redemption fee of Rs. 99 + taxes per redemption request.
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