Kotak Biz Business Credit Card
- Joining fee
₹299 + GST
- Annual fee
₹499 + GST
- Best suited for
Business Expenses
- Reward type
Reward Points
Rewards
- Rewards rate
4 Reward Points for Every ₹100 Spent on Travel and Tour Operators & Domestic Airlines, Direct Marketing/Advertising Services, Supermarket, Hotels, Motels, and Resorts. Earn 1 Reward Point for every ₹100 Spent on All Other Transactions
- Reward redemption
Redeem Kotak Points at the Kotak Rewards Portal or Redeem Kotak Points for Cashback to your Account
Benefits
- Domestic lounge
1 Complimentary Domestic Lounge Access per Calendar Quarter
- Insurance
Travel Insurance Included and Credit Liability Cover of ₹50,000
Fees & charges
- Foreign currency markup
3.5%
- Interest rates
3.5% Monthly (42% Annually)
- Fuel surcharge waiver
1% for Transactions Between Values of ₹500 – ₹3000
- Cash advance charges
₹300
Product highlights
- The card comes with an annual fee of ₹499 + GST.
- Offers 4 reward points for every ₹100 spent on select categories.
- Other eligible purchases earn 1 reward point for every ₹100 spent.
- Travel Insurance, purchase protection, and credit liability coverage are offered with the card.
Pros & cons
Pros
- Ideal for entrepreneurs and business owners
- Reward points on specific business-related categories
- Complimentary domestic lounge access
- Includes travel insurance and credit liability cover
Cons
- Limited reward categories
- No international lounge access or travel benefits
- No welcome bonus offered
FAQs
What is the interest rate on this credit card?
The interest rate is 3.5% per month (42% annually).
Does the card provide any lounge access?
Yes, the card offers 1 complimentary domestic lounge access per calendar quarter.
Who is eligible for the Kotak Biz Business Credit Card?
The eligibility criteria are as follows: Applicants must be self-employed, proprietors, or partners of a partnership firm. Minimum age: 21 years; Maximum age: 65 years. Annual income tax return of ₹4.8 lakh and above. Applicants should be residents of India.
Are there any international travel benefits with this card?
No, this card does not offer international lounge access or other international travel-related benefits.
Does this card offer a welcome bonus?
No, there is no welcome bonus associated with this credit card.
Can I redeem my reward points?
Yes, reward points can be redeemed at the Kotak Rewards Portal or converted into cashback at the rate of ₹0.25 per point. However, a minimum of 4,000 points is required for cashback redemption.