Kotak 811 #DreamDifferent Credit Card is a credit card backed by fixed deposit. This secured credit card comes with fuel and railway surcharge waiver and exclusive offers on achieving milestones. Cardholders can qualify for milestone program on spending Rs 75,000 and above and can earn bonus offers in the form of either cashbacks or PVR tickets.
Kotak 811 #DreamDifferent Credit Card Highlights
|Card Type||Life time Free Secured Credit Card (Backed by FD)|
|Credit Limit||90% of FD (Rs 9,000 to Rs 16 lakh – if applied online)|
|Minimum FD amount||Rs 5,555 (for 811 saving account customers); Rs 10,000 (for Non 811 saving account customers)|
|Benefits||Fuel & Railway surcharge waiver, interest free withdrawals, balance transfer|
|Rewards||Earn 2 reward points against every Rs. 100 on online spends|
Earn 1 reward point against every Rs. 100 on other* spends
|Activation Offer||Earn 500 bonus reward points on activating the credit card and spending Rs. 5,000 through the card within 45 days of its activation|
|Milestone Program||Earn Cashback of Rs 750 or Get 4 PVR Tickets|
Kotak 811 #DreamDifferent Credit Card Offers
- Fuel Surcharge waiver: 1% on all petrol pumps for transactions between Rs. 500 and Rs. 3,000 (Maximum Rs. 3,500 per year)
- Railway Surcharge waiver: 1.8% for transactions on irctc.co.in and 2.5% Indian railway booking counters (Maximum Rs. 500 per year)
Kotak 811 #DreamDifferent Credit Card Reward Points
The cardholders can earn following rewards on their card:
- Activation Offer – Cardholders can earn 500 bonus reward points if they activate the card and spend Rs. 5,000 within the first 45 days of card set up (the activation offer is valid for cards issued on or after June 15, 2020).
- Earn 2 reward points against every Rs. 100 on online spends
- Earn 1 reward point against every Rs. 100 on other* spends
Suggested Read: Know the Latest Kotak Mahindra FD Interest Rates
Kotak 811 #DreamDifferent Credit Card Benefits
Kotak 811 #Dream Different Credit Card offers you the range of credit card services, add-on cards, interest free cash withdrawals and credit limit of 90% of fixed deposit. The minimum credit limit is Rs 5,000 for 811 saving account customers and Rs 9,000 for others.
This lifetime-free credit card also provides bonus offers on achieving the spending criteria of Rs 75,000 in an anniversary year*. Cardholders can select any one of the below options.
Redemption Option 1: Cashback of Rs 750
- Claim cash back within 3 months after anniversary year gets over
- The cashback will be reflected in the next billing cycle
Redemption Option 2: 4 free PVR tickets
- Claim PVR tickets within 3 months after the anniversary year gets over
- PVR tickets can be used for any show and any day and are transferrable
- Star Pass Code will be issued to the cardholders which can be redeemed for online PVR Movie Ticket booked at www.pvrcinemas.com
*Anniversary year will be from the date of card issuance to the next anniversary date. i.e, if the card is issued on 31st of January, then anniversary year for milestone program will be from 1st February to 31st January every year. Furthermore, cardholders can check their duration in the Milestone tab of Net banking or Mobile banking.
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Cardholders can enjoy the following other benefits:
Interest free cash withdrawal
- Cardholders can withdraw cash for up to 90% of their total credit limit.
- Processing fee of Rs. 300 per Rs. 10,000 will be charged on withdrawal
- Interest free cash withdrawal is available for up to 48 days on cash advance
- Processing fee of Rs. 349 per Rs. 10,000
- Continued interest free period on fresh retail purchases
- Easy & Instant – Just call Kotak Mahindra Bank to transfer your other credit card balances
811 #DreamDifferent Shield – Lost Card Liability Cover
- In case the secured credit card is stolen, cardholders can get a cover of Rs. 50,000 against fraudulent usage for up to 7 days of pre-reporting
- Cardholders are required to call Customer Contact Centre (1860 266 2666) immediately and get secured credit card blocked or deactivated to prevent misuse and register a claim with the Insurance Company.
Fees & Charges of Kotak 811 #DreamDifferent Credit Card
|Condition for waiver of Annual Fees – first year and second year||NA|
|Add-on Card Fee||NIL|
|Finance Charges||3.50% (Annualized 42%)|
|Minimum Amount Due (MAD)||10%|
|ATM Cash Withdrawal/Fund Transfer/ Call a draft/ Cash Advance per Rs. 10,000 or part thereof||Rs 300|
|Over Limit Charge||Rs 500|
|Cheque Bounce Charges||Rs 500|
|Foreign Currency Mark Up||3.5%|
|Fee for Cash payment at Bank||Rs 100|
|Outstation Cheque Processing Fee||Waived|
|Reissue/ Replacement Card (per issunace)||Rs 100|
|Machine Surcharge at ATMs||Waived|
Late Payment Charges
|For statement o/s less than or equal to Rs. 500.||Rs. 100|
|For statement o/s between Rs. 500.01 to Rs. 10,000||Rs 500|
|For statement o/s greater than Rs. 10,000||Rs 700|
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Kotak 811 #DreamDifferent Credit Card – FAQs
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.