Kotak Mahindra Bank Best Price Credit Card Features and Benefits
No Joining Fee: This credit card doesn’t come with any joining fee charges.
Interest-Free Period: Cardholders get to enjoy interest-free credit period of two weeks.
Add-on Cards: The Kotak Best Price cardholders are offered with the exclusive facility of add-on cards. You get to acquire two additional cards together with the Best Price credit card. The complimentary cards can be utilized by your company’s staff members each time they wish to buy something at the Best Price Modern Wholesale outlet. Each of these add-on cards holds the facility of tracking the spending separately.
|Kotak Mahindra Best Price Credit Card|
People looking for No Joining Fee
Card Holders looking for a Business card
Customers seeking for a wholesale card
People who love to travel
Card Holders looking for a shopping card
Customers seeking Reward Points
Kotak Mahindra Bank Best Price Credit Card Fee and Charges
Here are basic fee and charges of this credit card:
|Add-on Card Fee||Nil|
|Finance Charges (Interest Rate)||3.40%|
|ATM Cash Withdrawal Charges||NA|
|Late Payment Fee||For outstanding balance less than Rs. 500 – Rs. 100|
For outstanding balance between Rs.500 and Rs. 10,000 – Rs. 500
For outstanding balance greater than Rs. 10,000 – Rs. 700
|Overlimit Fee||Rs. 500|
|Cheque Bounce Charges||Rs. 500|
|Foreign Currency Markup||NA|
|Cash Payment Charges||Rs. 100|
|Card Reissue/Replacement Charges||Waived|
|CIBIL Report Copy||Rs. 50|
Eligibility and Documents Required for Kotak Mahindra Bank Best Price Credit Card
To apply for this credit card, you must fulfil the following eligibility criteria:
- The candidate needs to be at least 21 years old.
- It is required for the candidate to be a member at the Best Price store. The candidate can either be self-employed, a dealer or a retailer who can buy materials in abundance from Best Price, depending on the policy of the store.
Documents Required to apply for this credit card:
|Proof of Identity||PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI|
|Proof of Address||Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 month’s old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement|
|Proof of Income||Latest one or 2 salary slip (not more than 3 months old), Latest Form 16, Last 3 months’ bank statement|
How to apply for Kotak Mahindra Bank Best Price Credit Card?
To apply for this credit card, you need to visit the bank’s website or get in touch with the bank’s associate at the nearest Kotak Mahindra bank branch. Once your credit card is approved, the credit card will be discpatched and delivered to your mentioned address within 5-7 working days.
Kotak Mahindra Bank Best Price Credit Card FAQs
How to apply for Kotak Best Price credit card?
You can apply for a Kotak Bank Best Price Credit Card, by simply getting in touch with a financial associate present at the helpdesk for financial services at your nearest Kotak Mahindra Bank Branch.
Does Kotak Best Price Card offer a rewards program which can be availed?
No. Kotak Best Price Cards are free from offering any kind of rewards program. This is because the primary purpose of the card is to offer credit linked to business focused purchases.
Would I be eligible to access cash advances using my Kotak Best Price Card?
No.This particular feature is not currently available on this card. However, Kotak Mahindra is planning to lend this offer to a particular group of cardholders by analysing their spends-behaviour, payment behaviour, as well as credit utilisation.
What all card variants for Kotak Best Price Card are offered by the bank?
Kotak Mahindra Bank provides two versions of Best Price credit cards, these are:
- Best Price
- Best Price Premium Credit Card