Our Money Guide

By: OurMoneyGuide || Last updated on: April 26, 2024

The Kotak Royale Signature Credit Card is a credit card from Kotak, with a minimum income requirement of ₹24 lakhs per annum.

Kotak Royal Signature Credit Card

Brief Summary

Our Rating
4.0 / 5

Our View

Best for those who like shopping on Myntra, on such shopping you get 7.50% discount. There is a cashback limit at a transaction level, of ₹750 per transaction, but no monthly card spend cap to earn these special Myntra rewards.

The card also offers 5% cashback on 5 select partners, covering a wide range of services – Swiggy Instamart (grocery) || Swiggy (food delivery) || PVR (movies) || Cleartrip (travel) || Urban Company (beauty salon services, cleaning, home repairs).

You also get complimentary airport lounge access in India – once per quarter.

The card is virtually free from the 2nd year onwards, if you spend ₹2 lakhs or more in the previous year. If you use your card on all the promotion categories on offer, it is possible to achieve this spend target, along with good discounts and cashback.

on Kotak Mahindra Bank website

Kotak Royale Signature Credit Card

Special Benefits

7.50% discount on Myntra

Other Benefits

Complimentary domestic airport lounge access

Minimum Income

Not specified

Annual Fee

₹ 500

Annual Fee Offers

Welcome offer worth ₹500

Renewal fee waived at annual card spend of ₹ 2 lakhs

Pros & Cons

Benefits of using the credit card

  • Complimentary access to domestic airport lounges in India – 2 times per quarter

Limitations and drawbacks to consider

  • High minimum income requirements
  • Low rewards

Brief Summary

Our Rating
4.0 / 5

Our View

Kotak IndiGo 6E Rewards XL Credit Card provides attractive rewards (6%) when you fly on Indigo. You also get other travel benefits such as complimentary lounge access – upto 2 times per quarter, reduced convenience fee on Indigo etc.

You get attractive welcome offers which compensate for joining fee. However the card has no renewal offers, hence is suitable only for those who fly very frequently on Indigo.

Comparing with Competitor Fuel Credit Cards

Features
HDFC Indian Oil Credit Card
Our Rating
       
APPLY NOW
Axis Bank Indian Oil Credit Card
Our Rating
       
APPLY NOW
Rewards Rate 0.2% – 4.8%

0.20% – 4%

Other benefits Fuel Surcharge Waiver Fuel Surcharge Waiver
Annual Fee ₹500

₹500

Annual Fee Offers Zero renewal fees – if minimum spending in the previous year is ₹50,000 Zero renewal fees – if minimum spending in the previous year is ₹50,000
Minimum Income Over ₹10,000 monthly for salaried individuals and over ₹6 Lakhs per annum for self-employed individuals.

Not Specified

Features & Benefits of Kotak Royale Signature Credit Card

0.66% benefit on the following card spends – specified travel categories || restaurants || international spends

You earn 2.66 reward point worth ₹0.66 (66 paise), on every ₹100 you spend in the below categories-
– Travel : Hotels || Travel Agencies & Tour Operators || Package Tour Operators || Airlines and Air Carriers
– Restaurants
– International spend

1 reward point = ₹0.25 or 25 paise. You can redeem your rewards points on Kotak Rewards (Kotak’s rewards redemption platform), for a variety of shopping e-vouchers, mobile recharges, travel, and more.

0.33% benefit on all other card spends

You earn 1.33 reward point worth ₹0.33 (33 paise), on every ₹100 you spend on all other card purchases.

1 reward point = ₹0.25 or 25 paise. You can redeem your rewards points on Kotak Rewards (rewards redemption platform).

Upto 0.9% additional benefit (milestone benefits)

You get either –
– 10,000 reward points worth ₹2500, when you spend ₹4 lakhs or more on your card each year – 0.62% benefit.
OR
– 30,000 reward points worth ₹7500 , when you spend ₹8 lakhs or more on your card each year – 0.93% benefit.

You get one of the two rewards listed above, at the end of the card anniversary year.

Complimentary airport lounge access in India – 2 per quarter

Railway surcharge waiver, upto ₹500 per year

Fuel surcharge waiver, upto ₹3500 per year

Kotak customer care number & KASSIST

Kotak ‘Everyday Specials

Important Card Fees and Charges

Annual fee & annual fee offers

Annual feeAnnual fee offers
1st year joining fee₹999
Renewal fee from 2nd year onwards₹999Renewal offer
– Annual fee is not charged from the 2nd year onwards, if you spend ₹1 lakh or more in the previous year.

Foreign currency mark-up fee
3.50% of the transaction amount. This fee is charged when you use your card outside India.

Interest Charges on outstanding Balances
3.50% per month (42% per annum)

Important note
– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– Please click here to view all fees & charges on this card

Eligibility Criteria

Some basic criteria is given below, there maybe additional requirements based on your profile, this is at the sole discretion of Kotak Mahindra Bank.

Minimum age Primary cardholders : 21 years
Add-on cardholders : 18 years or above
Maximum age65 years
Minimum income₹24 lakhs per year
Other criteriaRegular source of income, good credit score preferably above 750
Cities at which card is availableCard is only given at the following cities – Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai and Pune

Application Process & Tracking Application Status

Step-by-step guide

Online application process 
The easiest way is to click here – APPLY NOW , you shall be taken to the card application page on the Kotak Mahindra Bank website. You can also visit official website of the bank and fill out the application form.

Steps –
1. Fill in the required details in the online application form, including personal and employment details, contact information, and income details.
2. Submit the application form along with the necessary documents such as identity proof, address proof, income proof and age proof.
3. Once your application is received, Kotak Mahindra Bank will review your application and verify the information provided.
4. Upon successful verification, you will receive a confirmation, and your Credit Card will be dispatched to your registered mailing address.
Offline (face to face)  application processAlternatively, you can also apply for the card by visiting the nearest Kotak Mahindra Bank branch, and submitting your application along with the necessary documents. To find the branch nearest to you, please visit here.
Tracking card application statusYou can track your credit card application status by clicking here – Kotak Credit Card Application Status

Necessary documents

Common documents required to attain a credit card are as follows. Additional documents may be required on a case-to-case basis, this is at the sole discretion of Kotak Mahindra Bank.

Required documents 
For salaried employees :
Identification proof : Aadhaar card, PAN card, driving license, voter ID card, passport (any one)
Address proof : Utility bill, ration card, passport, driving license, voter ID card (any one)
Income proof : Salary slips, Form 16, income tax returns (any one)
Age proof : 10th standard school certificate, birth certificate, passport, voter ID card (any one)

For self-employed professionals :
– Identification proof : Aadhaar card, PAN card, driving license, voter ID card, passport (any one)
– Address proof : Utility bill, ration card, passport, driving license, voter ID card , last two months’ bank statement (any one)
– Income Proof : Income tax returns with computation of income, certified financial documents, proof of business continuity (any one)
– Age proof : 10th standard school certificate, birth certificate, passport, voter ID card (any one)
Apply Now

on Kotak Mahindra Bank website