Review of Kotak Aqua Gold Card
Kotak Mahindra bank is one of the leading private sector banks in India. It offers a wide range of credit cards, which span across different categories, such as lifestyle, shopping, entertainment, and dining, in addition to credit cards for the NRI group.
Overview of the Kotak Aqua Gold Credit Card
The Aqua Gold credit card, offered by Kotak Mahindra bank, is a special card that is designed to save money. This is because it offers interest free cash withdrawals to cardholders. In addition, it also offers fuel surcharge waiver and railway surcharge waiver to cardholders.
Moreover, the Aqua Gold credit card does not charge any annual fees, which means you can save more money with it. This credit card offers various benefits like Rs. 750 cash back and free PVR tickets. However, this credit card can only be availed by those who have a Term Deposit account with the Kotak Mahindra bank.
Kotak Aqua Gold Card
- Rail Surcharge Waiver
- Fuel Surcharge Waiver
- Free PVR Tickets
Chances of Approval:
Benefits of the Kotak Aqua Gold Credit Card
1. Credit limit
This credit card is only available to people who have Term Deposit account with the Kotak Mahindra bank. Card members get a credit limit of up to 80% of their account balance. Plus, they can also get more credit limit up to Rs. 12 lakhs.
2. Fuel surcharge waiver
Almost every credit card in India charges an average 2.5% fuel surcharge on the buying amount. However, with this credit card, you can enjoy a 2.5% fuel surcharge waiver on transactions ranging from Rs. 500 to Rs. 3,000. Card members can receive waiver perks of up to Rs. 3,500 per year, which in turn helps them save money.
3. Railway surcharge waiver
Cardholders enjoy a railway surcharge waiver of 1.8% when they book their tickets online through www.irctc.co.in. Plus, they also get a waiver of 2.5% on Booking Counter transactions.
4. Interest free cash
Typically, cash withdrawals are charged with a onetime fee as well as interest charges at a higher rate than purchases. However, with this credit card, cardholders get up to 48 days to pay a credit card bill, which is free of any interest. Moreover, card members can withdraw up to 90% of their credit card limit at any time in a year.
Features of the Kotak Aqua Gold Credit Card
1. Balance transfer
This credit offers an exclusive option of balance transfer, which allows you to save your interest in case you are paying a high interest for card balance on other bank credit cards. With this credit card, you can transfer your balances from other credit cards at only Rs. 349 as processing fee for every Rs.10,000.
2. Add-on credit cards
Cardholders can also avail add-on credit cards for their loved ones. The add-on credit cards come with similar benefits that a primary card member enjoys. Moreover, you can set individual credit limits on the add-on credit cards that you avail and easily monitor these credit cards.
Fees and other charges of the Kotak Aqua Gold Credit Card
- Joining fee: Rs. 1,499
- Annual fee: Rs. 0
- Late payment fees: Rs. 100 to Rs. 700, subject to the outstanding balance
- Over limit fee: Rs. 500
- Cash withdrawal fee: Rs. 300 per Rs. 10,000 withdrawn
- Add-on card: Rs. 0
The bottom line
The Kotak Aqua Gold Credit Card is suitable for people who have a Term Deposit account with this bank. It offers great perks and benefits, such as fuel surcharge waiver, railway surcharge waiver, high credit limit, interest free cash, and free add-on cards to cardholders. Moreover, it does not charge any annual fees. This credit card is also a nice choice for frequent travelers, who often travel through Indian Railways.
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