From what I’ve experienced and what I’ve seen in the terms, Kotak credit cards are pretty transparent about their charges, but there are a few fees you should keep in mind that can add up if you’re not careful.
One thing to watch out for is the late payment fee—if you miss a due date, they can charge up to ₹1,100 (depending on the card). It’s the kind of thing that can sneak up on you if you forget to pay your bill on time, so setting up auto-pay or reminders can be a lifesaver.
There’s also the over-limit fee, which kicks in if you exceed your credit limit. If you go over, you could get hit with a fee of around ₹500. It’s not a huge amount, but it’s still an extra cost that can catch you off guard.
Another fee is for cash advances. If you use your credit card to withdraw cash, Kotak charges a fee of about 2.5% of the amount, with a minimum charge of ₹500. And the interest on cash advances starts accumulating immediately, so it can get expensive pretty fast.
I’ve also found that foreign currency transactions come with an additional 3.5% forex fee, plus the usual GST charges, so if you travel abroad a lot, those fees can add up.
But, here’s the good news—annual fees are usually stated upfront, so there’s no surprise when the first bill comes around. Plus, if you hit certain spending targets, you may be able to get some of the fees waived or offset with rewards.
To sum it up, there aren’t a ton of hidden charges, but it’s always a good idea to read the full terms and conditions on Kotak’s website or call their customer service at 1860 266 2666 if you have any specific questions.