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Kotak Mahindra Bank
Kotak Cashback+ Prime Credit Card
Dining
Cashback
Fuel
1st Year Fee: ₹750* Plus Applicable Taxes
Cashback
Up to 5% cashback on card spends
Fuel
Up to 4% savings on all fuel spends
Fee Waiver
No fee on Rs. 2 lakh annual spends
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About Kotak Cashback+ Prime Credit Card
Kotak Cashback+ Prime Credit Card is a cashback credit card that offers good value-back on online and everyday purchases like groceries, food delivery, entertainment and auto dealer spends through 5% cashback. It also comes with up to 4% savings on fuel spends, irrespective of the fuel provider, via cashback and surcharge waiver. Though it does not come with any welcome bonus and charges a joining fee of Rs. 750, users of this Kotak Credit Card can still save on their renewal fee by availing the fee waiver on Rs. 2 lakh annual spends which is quite low spending requirement.
This card is a slightly upgraded version of Kotak Cashback+ Credit Card that comes at the same fee and offers quite similar benefits. Cashback+ Prime, however, also includes auto dealer merchant spends in its 5% cashback category and has a higher capping on accelerated cashback earnings. Read on to know more about Kotak Cashback+ Prime Credit card.
Note: This Card is not available on Paisabazaar. The content on this page is for information only. To express interest in this card, please visit Kotak Mahindra Bank‘s website.
Cashback & Other Benefits
- Cashback Earnings:
- 5% Cashback on auto dealer merchant spends and online spends made on food deliveries, groceries and entertainment
- 3% Cashback on fuel spends
- 0.5% Cashback on other eligible spends1, including UPI transactions via RuPay card variant and monthly insurance spends up to Rs. 25,000
- Cashback Capping: Accelerated cashback (5% and 3%) is capped at Rs. 750 in a month
- Fee Waiver: Annual fee is waived off on spending minimum Rs. 2 lakh in a year
- Fuel Benefit: 1% fuel surcharge waiver, up to Rs. 3,500 per year, on fuel spends worth Rs. 500 to Rs. 4,000
Fees & Charges
| Fee Type | Amount | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Joining Fee | Rs. 750 + Taxes | ||||||||||||||||||
| Annual/ Renewal Fee | Rs. 750 + Taxes (Waived off on spending Rs. 2 lakh in a year) | ||||||||||||||||||
| Finance Charges | 3.70% p.m. | 44.40% p.a. | ||||||||||||||||||
| Late Payment Charges |
|
Things to Know Before you apply
Get This Card If:
You prefer shopping online for food, grocery and entertainment and wish to save well on such spends
You are looking for a credit card that offers good cashback on auto dealers and across all fuel spends, irrespective of the fuel brand
You are a relatively low spender or the cashback capping does not limit your savings significantly
Travel benefits like lounge access or any additional perks beyond cashback are not your priority
Paisabazaar Review
What do we like about this card?
Kotak Cashback+ Prime Credit Card offers 5% cashback on everyday spends like grocery and food delivery, along with lifestyle categories like entertainment and auto dealers. Another highlight is the cashback offered on all fuel spends - a category usually excluded from cashback and reward benefits. Moreover, it allows even the low spenders to avail the fee waiver benefit through a low spending condition. This card also offers cashback on UPI (via RuPay variant) and insurance transactions. Through these benefits, this card helps maximise savings on online purchases made on food and movies, along with daily commute spends.
Pros
- Up to 5% cashback on food, entertainment and auto dealer spends
- Up to 3% cashback on fuel spends without any brand restriction
- Low annual fee waiver spending condition
Cons
- Low base cashback rate
- Capping on accelerated cashback earnings
- No welcome bonus or complimentary airport lounge access
Frequently Asked Questions
Everything you need to know about this credit card
Yes, the cashback accrued using Kotak Cashback+ Prime Credit Card has limited time validity and all the unclaimed cashback expires in 1 year.
You can redeem your cashback earned using Kotak Cashback+ Prime Credit Card by logging in to the Kotak Rewards platform. Enter your CRN and click on ‘Get OTP’ button. Enter the OTP received on your registered mobile number and email ID and click on ‘Submit’. Select ‘Credit Card’ in the ‘Card Type’ dropdown menu. Then choose Cashback+ Prime card from ‘Card Number’ dropdown menu. Enter the number of reward points/cashback you wish to redeem, accept T&C and submit.
The cashback earnings on Kotak Cashback+ Prime Credit Card can be redeemed against statements outstanding in 1:1 ratio, however the cashback can only be redeemed in multiples of 400. So, if your cashback balance is less than 400 then you can not redeem it until you reach the Rs. 400 limit.
To activate your Kotak Cashback+ Prime Credit Card, log in to the Kotak mobile banking app and click on ‘Wallet’ or ‘Credit Cards’. Then click on ‘Card Controls’ and select the ‘Generate Card PIN’ option. Enter the necessary details to generate your new card PIN and activate your card. You can also activate your card via this app by updating the card controls or making a card transaction or by giving a missed call on the number 7669010000.
No, Kotak Cashback+ Prime Credit Card does not offer any complimentary airport lounge access to its cardholders.
Footnotes
- The following spends are excluded from cashback benefits: Rent, Utilities, Online skill-based gaming, B2B transaction, Education and Government, Wallet, and EMIs.
Click here to know More Terms and Conditions
Lepakshi Phogat
Lepakshi is a content writer specialising in personal finance and credit cards. She translates complex financial concepts into practical advice, helping readers make informed financial decisions. Whether it is helping them choose the right credit card or offering strategies to build their credit score, she writes to make personal finance less intimidating and more empowering.
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