I want to make sure I never miss a Kotak credit card payment, but I’ve heard that the billing cycle and due date can vary depending on the card and when the statement is generated. How exactly is the due date calculated, and does Kotak offer a grace period? Also, if I pay just the minimum amount due, will that affect my credit score or result in interest charges?
The due date for Kotak credit card payments depends on your billing cycle, which is usually 18-21 days after your statement is generated. For example, if your statement is generated on the 5th of every month, your due date will likely be around the 23rd-26th. You can check your exact due date in the Kotak mobile app, net banking, or on your credit card statement.
From my experience, Kotak doesn’t offer a grace period, so if you miss the due date, you’ll be charged late fees + interest on the outstanding balance. If you pay just the minimum amount due, you can avoid late fees, but the remaining balance will still attract interest (which is usually around 3.5-3.75% per month or 42-45% annually). That’s why I always try to pay the full amount before the due date to avoid unnecessary charges.
If you’re worried about missing payments, you can set up an auto-debit from your Kotak or any other bank account, so the amount gets deducted automatically. You can also pay using UPI, NEFT, BillDesk, or the Kotak mobile app, but remember that payments from other banks might take 1-2 working days to reflect, so it’s better to pay at least 2-3 days before the due date to be safe.
If you’re not sure about your billing cycle or due date, you can contact Kotak customer care at 1860 266 2666 or check your latest statement.