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Kotak 811 #DreamDifferent Credit Card is a secured card offered against a fixed deposit of Rs. 15,000 or more with Kotak Mahindra Bank. It is a lifetime-free credit card that offers reward points on all your spends and interest-free cash withdrawals. More details of Kotak 811 #DreamDifferent Card are given below.
Key Highlights of Kotak 811 #DreamDifferent Credit Card |
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Below are the details of Kotak 811 #DreamDifferent Credit Card’s benefits:
Welcome Bonus- Spend Rs. 5,000 in the first 45 days of card set up and get 500 bonus reward points.
Rewards- 1 reward point for every Rs. 100 spent on all categories except fuel, railway spends and cash withdrawals. 2X rewards on online spends.
Cash Limit- You can withdraw up to 90% of your credit limit.
Interest-free Cash Withdrawal- No interest will be charged for up to 45 days on cash withdrawals. However, a processing fee of Rs. 300 per Rs. 10,000 will be applicable.
Low Interest Rates- The interest rate (finance charges) on Kotak 811 #DreamDifferent Credit Cards is 2.99% per month.
Milestone Benefit- Reach annual spends of Rs. 75,000 and get Rs. 750 cashback or 4 PVR Movie Tickets.
Fuel Surcharge Waiver- 1% fuel surcharge waiver for all fuel transactions between Rs. 500 and Rs. 3,000. Maximum surcharge in a year is capped at Rs. 3,500.
Railway Surcharge Waiver- 1.8% surcharge waiver when booking ticket through IRCTC online and 2.5% surcharge waiver at railway booking counters.
Lost Card Liability Cover- In case of card loss, get Rs. 50,000 cover against unauthorized usage up to 7 days prior to reporting such loss. Call on 1860 266 2666 to get your card blocked.
Add-on Card- Get add-on cards with your Kotak 811 #DreamDifferent Card with the same benefits. Also, set spending limits and track expenses separately.
Suggested Read: Credit Cards with the Best Sign-up/Welcome Bonus
Refer to the table below for all the fees and charges applicable to Kotak 811 #DreamDifferent Card:
| Fee/Charge | Rate/Amount |
| Joining/Annual Fee | Nil |
| Interest on Revolving Credit | 2.99% per month (35.88% annually) |
| Cash withdrawal fee | Rs. 300 per Rs. 10,000 |
| Over Limit Charges | Rs. 500 |
| Foreign Currency Mark-up Fee | 3.5% |
| Cheque Bounce Charges | Rs. 500 |
| Re-issue/Replacement Card fee | Rs. 100 |
| Late Payment Charges | For Outstanding Amount:
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To be eligible for Kotak 811 #DreamDifferent Credit Card, you must start a term deposit with Kotak Mahindra Bank. For that, you must meet the following requirements:
| Age | 18 to 75 years |
| Minimum Term Deposit Amount | Rs. 15,000 |
You will also need to submit copies of KYC documents including proof of identity and proof of address at the time of opening the term deposit account. Only after a successful opening of term deposit will you be able to get the #DreamDifferent Card against it.
The credit limit on Kotak 811 #DreamDifferent Credit Card depends on the term deposit amount. It can be up to 80% of the deposit. However, you can also set your own limit from Rs. 12,000 to Rs. 12 Lakh.
If you already have a Term Deposit (FD) with Kotak Mahindra Bank, you can request the #DreamDifferent Credit Card against it. Follow the process given below:
However, if you do not have an existing relationship with Kotak Mahindra Bank, you can start the application process here. Fill in your details and one of their executives will get in touch with you to take the application process further.
Suggested Read: Kotak Mahindra FD interest rates 2022
How soon can I claim the cashback/PVR movie ticket offer on Kotak 811 #DreamDifferent Credit Card?
You must claim the cash back within 3 months of completion of the card anniversary year. The amount will be reflected in your next billing cycle.
Can I get this card issued against a joint Term Deposit account?
No, you can get this card issued against Individual Term deposits only.
How much can I save in the first year of owning Kotak 811 #DreamDifferent Credit Card?
You can save up to Rs. 10,470 in the first year of card setup. The savings come from reward points, milestone offers, surcharge waivers and so on.
Will I earn reward points on transactions that I convert into EMI?
No, you will not earn any reward points on transactions converted into EMI. You will also not earn reward points on fuel and railway surcharges.
Can I use Kotak 811 #DreamDifferent Credit Card overseas?
Yes, you may use the Kotak 811 #DreamDifferent credit card overseas or on international websites. However, you will be liable to pay a foreign mark-up fee on it.
Please Note: Kotak Mahindra Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.
