Kotak
Kotak Mojo Platinum Credit card
This is an invite only card
Top Benefits
Earn 2.5 Mojo Points
per ₹100 on online spends across categories without any cap
Get Lounge Access
with 8 complimentary airport lounge visits in India every year, limited to 2 per quarter, on spending ₹75,000 or more in the previous calendar quarter
Best For
Shopping
Travel
Utility Bills
Finding a credit card that consistently rewards your daily expenses without complicated conditions can ...
Read More
Read Less
Finding a credit card that consistently rewards your daily expenses without complicated conditions can ...
Finding a credit card that consistently rewards your daily expenses without complicated conditions can be a challenge. The Kotak Mojo Platinum Credit Card solves this by offering a straightforward point system designed heavily around your digital lifestyle. Available on VISA, Mastercard, and RuPay networks, this card gives you 2.5 Mojo points for every Rs. 100 spent online, alongside a standard 1 point per Rs. 100 on offline purchases. If you spend Rs. 20,000 online this month for groceries, shopping, and food delivery, you earn 500 Mojo points automatically.
This card works great for salaried professionals and self-employed individuals looking for reliable returns on daily spending without astronomical annual fees. Unlike many basic cards that offer zero travel perks, the Kotak Mojo Platinum steps up by providing 8 complimentary domestic lounge visits per year. With a reasonable annual fee of Rs. 1,000 that easily waives off when you spend Rs. 1 Lakh in a year, it stands as a highly practical choice for everyday users who want a balance of shopping rewards and travel comfort.
View FAQ
Commonly Asked Questions
Is the Kotak Mojo Platinum Credit Card lifetime free?
No, the card comes with a joining fee of Rs. 1,000 and an annual renewal fee of Rs. 1,000. However, you can get the joining fee waived by spending Rs. 30,000 in the first 90 days, and the annual fee waived by spending Rs. 1 Lakh in the preceding year.
Who is the ideal user for this card?
This card is perfect for regular online shoppers who spend around Rs. 10,000 to Rs. 15,000 monthly on digital purchases and take occasional domestic flights. It balances steady online reward rates with domestic airport lounge access.
What networks are available for this card?
You can get this card on VISA, Mastercard, or RuPay networks. You can select the RuPay variant during the digital application process to enable UPI payments on your card.
Expert Review
As a credit card expert reviewing the Kotak Mojo Platinum, I appreciate the simplicity of its core promise. Earning 2.5 Mojo points per Rs. 100 on online spends makes calculation easy, and the low Rs. 1 Lakh fee waiver target means most users will never actually pay the Rs. 1,000 annual fee. The inclusion of 8 domestic lounge visits is the true highlight here. Getting that level of travel comfort on a basic Rs. 1,000 card is rare in today's market.
However, the card severely lacks punch in its actual reward value. With 1 Mojo point translating to just Rs. 0.25, your effective online reward rate is a mere 0.625%. When cards like HDFC Millennia or Amazon Pay ICICI offer flat 5% cashback on major online retailers, Kotak's rate feels outdated and weak. Furthermore, the Rs. 99 redemption fee eats away at the small value you do manage to build up.
Ultimately, I recommend the Kotak Mojo Platinum strictly for individuals who prioritize airport lounge access over raw cashback, and who spend enough to easily waive the annual fee. If maximizing monetary returns on your digital shopping is your primary goal, you will be better served by a dedicated cashback card.
Joining / Annual Fee
Joining Fees
₹1,180 ( ₹1000 + GST )
Annual Fees
₹1,180 ( ₹1000 + GST )
Understanding the cost of owning a credit card helps you calculate your true savings. The Kotak Mojo Pl...
Read MoreRead Less
Understanding the cost of owning a credit card helps you calculate your true savings. The Kotak Mojo Pl...
Understanding the cost of owning a credit card helps you calculate your true savings. The Kotak Mojo Platinum Credit Card carries a joining fee of Rs. 1,000 plus applicable taxes. However, the bank provides a clear path to recover this cost. If you make retail purchases totaling Rs. 30,000 within the first 90 days of card issuance, this Rs. 1,000 joining fee is fully offset. Spending Rs. 10,000 a month on groceries and utility bills easily clears this target.
Moving forward, the card charges an annual fee of Rs. 1,000 starting from the second year. You can avoid paying this renewal fee entirely by spending Rs. 1 Lakh or more during your card membership year. Breaking this down, you only need to spend about Rs. 8,333 per month across all your shopping, dining, and bill payments to hit the Rs. 1 Lakh milestone. If you manage this, your card remains essentially free year after year, allowing you to enjoy the rewards and lounge benefits without any out-of-pocket costs.
View FAQ
Commonly Asked Questions
What are the joining fees for this card?
The Kotak Mojo Platinum Credit Card has a one-time joining fee of Rs. 1,000 plus applicable GST.
Can the joining fee be waived?
Yes, the joining fee is waived if you complete retail spends of Rs. 30,000 within the first 90 days of your card being issued.
What is the annual renewal fee?
From the second year onwards, the bank charges an annual renewal fee of Rs. 1,000 plus GST.
How do I get the annual fee waived?
The annual fee is waived automatically if your total card spends reach or exceed Rs. 1 Lakh in the previous year.
Do rent payments count toward the Rs. 1 Lakh annual fee waiver milestone?
Standard retail spends count toward the fee waiver. Note that insurance spends are specifically excluded from milestone eligibility starting 1st June 2025.
What happens if I spend Rs. 90,000 in a year?
Since you missed the Rs. 1 Lakh threshold, the full annual fee of Rs. 1,000 plus GST will be charged to your card account on your anniversary month.
Are taxes included in the fee waiver?
When a fee is waived, you are not charged the fee or the associated GST. If the fee is billed and then reversed later, the GST amount remains non-refundable as per tax regulations.
Is there any lifetime free offer available?
While the card is standardly priced at Rs. 1,000 annually, spend-based waivers make it effectively free once you meet the annual spend target.
Eligibility
Age
Criteria*
21-60 years
Salary
Criteria*
4LPA
Credit
Rating*
750+
New to credit
allowed
No
Existing Bank
Customer Allowed
Yes
Securing the Kotak Mojo Platinum Credit Card requires you to meet specific demographic and financial be...
Read MoreRead Less
Securing the Kotak Mojo Platinum Credit Card requires you to meet specific demographic and financial be...
Securing the Kotak Mojo Platinum Credit Card requires you to meet specific demographic and financial benchmarks. The bank keeps these requirements moderate to ensure accessibility for working professionals and business owners. The primary applicant must be at least 21 years old and not older than 60 years at the time of application. This age bracket applies to both salaried employees and self-employed individuals.
Financially, you need a stable income. The minimum monthly income requirement is Rs. 25,000. On an annual basis, whether you are salaried or self-employed, you must demonstrate a minimum income of Rs. 3 Lakh per annum. That means if you run a small business yielding Rs. 3.5 Lakh in declared yearly profit, or if you hold a corporate job paying Rs. 30,000 a month, you fit the income criteria perfectly.
Your credit history plays a vital role. Kotak requires a minimum CRIF score of 720. A healthy credit score proves to the bank that you have a track record of repaying your loans and other credit cards on time. Since the card serves "both" employment types, anyone from a software engineer to a freelance graphic designer can apply, provided their income documents and credit score are in order.
View FAQ
Commonly Asked Questions
What is the minimum age to apply for this card?
The primary cardholder must be at least 21 years old to apply for the Kotak Mojo Platinum Credit Card.
What is the maximum age limit for applicants?
The maximum age allowed at the time of application is 60 years for both salaried and self-employed individuals.
What is the minimum salary required for salaried professionals?
Salaried applicants need a minimum monthly salary of Rs. 25,000, which translates to an annual income requirement of Rs. 3 Lakh.
Can self-employed individuals apply for this card?
Yes, self-employed business owners and professionals can apply. They must show a minimum annual income of Rs. 3 Lakh.
What credit score is needed for approval?
A minimum CRIF credit score of 720 is required to be considered eligible for this credit card.
Can I apply if my credit score is below 720?
Applications with a score below 720 face a high risk of rejection. It is best to improve your score before applying.
Do I need to be an existing Kotak Mahindra Bank customer?
You do not need a prior relationship with Kotak Mahindra Bank to apply as long as you meet the minimum income and credit score criteria.
Can college students apply for this card?
Only if the student is over 21 years old and has a verifiable independent income of at least Rs. 3 Lakh per year. Otherwise, they do not meet the criteria.
All Card Benefits
- Earn unlimited 2.5 Mojo points per ₹100 on online spends
- Earn unlimited 1 Mojo point per ₹100 on all other spends
- Earn Mojo points on Education and Insurance spends capped at ₹70,000 per statement cycle
- Earn Mojo points on Utility spends capped at ₹50,000 per statement cycle
- Earn Mojo points on Government spends capped at ₹40,000 per statement cycle
- Earn 2,500 Mojo points every quarter on spending ₹75,000 (first year only; excludes Utility, Wallet Load, Fuel, Gaming, Insurance, Government, Rent & Education)
Welcome Benefits
Starting a new credit card journey should feel rewarding. Kotak understands this by...
Read MoreRead Less
Welcome Benefits Starting a new credit card journey should feel rewarding. Kotak understands this by...
Welcome Benefits
Starting a new credit card journey should feel rewarding. Kotak understands this by offering a practical welcome benefit tied to your initial spending. When you receive your card, you are charged a joining fee of Rs. 1,000. However, if you use the card for retail spends of Rs. 30,000 within the first 90 days of issuance, the bank waives this joining fee entirely. For example, if you buy a new smartphone for Rs. 32,000 in your second month, your Rs. 1,000 fee is fully reversed, making your first year essentially free.
Reward Points Structure
The core strength of the Kotak Mojo Platinum Credit Card lies in its point generation. You earn an unlimited 2.5 Mojo points for every Rs. 100 spent online. For all other regular offline spends, you earn 1 Mojo point per Rs. 100. Since 1 Mojo point equals Rs. 0.25, the effective online reward rate is 0.625%, and the offline rate is 0.25%.
Let us look at a practical calculation. If you spend Rs. 40,000 online on travel bookings and shopping, you earn 1,000 Mojo points. If you spend another Rs. 20,000 offline at supermarkets and restaurants, you earn 200 Mojo points. In total, you gather 1,200 points for the month, giving you Rs. 300 in statement credit value.
To ensure fair usage, the bank places specific caps on certain categories per statement cycle. Education and Insurance spends are capped at Rs. 70,000 per cycle. Utility spends are capped at Rs. 50,000, and Government spends are capped at Rs. 40,000. This means if you pay a massive utility bill of Rs. 60,000, you will only earn points on the first Rs. 50,000.
Airport Lounge Access
Traveling becomes much more comfortable with the Kotak Mojo Platinum Credit Card. You receive 8 complimentary domestic lounge accesses per year through the DreamFolks network. This quota is divided into 2 visits per quarter. If you take a round trip flight every few months, you can enjoy free food, Wi-Fi, and comfortable seating before you board.
Take note of an important upcoming change. Effective 1st June 2025, to use your 2 lounge accesses in a given calendar quarter, you must spend a minimum of Rs. 75,000 in the previous calendar quarter. For example, to enjoy lounge access from July to September 2025, your total card spends between April and June 2025 must cross Rs. 75,000.
Fuel Surcharge Waiver
Every time you swipe a credit card at a petrol pump, a small surcharge is added to your bill. This card protects you from that extra cost by offering a 1% fuel surcharge waiver. Currently, this waiver applies to fuel transactions between Rs. 500 and Rs. 3,000. Effective 1st June 2025, the eligible transaction window expands to between Rs. 500 and Rs. 5,000. The maximum waiver you can claim in a year is Rs. 3,500. For instance, if you fill petrol worth Rs. 2,000, you save Rs. 20 instantly. Doing this five times a month saves you Rs. 1,200 annually.
View FAQ
Commonly Asked Questions
How do I qualify for the joining fee waiver?
You need to make retail purchases totaling Rs. 30,000 within the first 90 days of your card being issued. Once you hit this target, the Rs. 1,000 joining fee is waived.
Does the welcome benefit include bonus reward points?
No, the primary welcome benefit for this card is the waiver of the Rs. 1,000 joining fee upon meeting the initial spending milestone.
Do wallet reloads count toward the 90-day spending target?
Only retail spends count toward welcome benefit milestones. Transactions like wallet loads, cash withdrawals, and rent are excluded from this calculation.
When will the fee be reversed after I spend Rs. 30,000?
The joining fee reversal is processed to your credit card statement within 30 to 45 days after you cross the spending threshold.
What is the standard reward rate on this card?
You earn 2.5 Mojo points per Rs. 100 on online transactions and 1 Mojo point per Rs. 100 on all other eligible offline transactions.
What is the value of 1 Mojo point in rupees?
Each Mojo point is valued at Rs. 0.25. Therefore, if you accumulate 4,000 Mojo points, you have Rs. 1,000 worth of value to redeem.
Is there a limit to how many points I can earn online?
No, there is no maximum limit on the reward points you can earn for general online shopping and retail transactions.
Do I earn reward points on my child's school fee payment?
Yes, you earn points on education spends, but these are capped at a maximum spend limit of Rs. 70,000 per statement cycle.
How many points do I get for paying my electricity bill?
You earn standard points on utility bills, subject to a maximum capping of Rs. 50,000 worth of spends per billing cycle.
Do I earn Mojo points on insurance premium payments?
Yes, you earn points on insurance spends up to Rs. 70,000 per statement cycle. Spends beyond this amount in a single month will not earn points.
Will I earn points when I load my digital wallet?
No, wallet load transactions are completely excluded from earning any Mojo points.
Do fuel transactions generate reward points?
No, fuel transactions do not earn Mojo points. However, you do get a fuel surcharge waiver instead.
How many lounge visits do I get annually?
You get a total of 8 complimentary domestic airport lounge visits per year, strictly limited to a maximum of 2 visits every quarter.
Can I use all 8 lounge visits in one month?
No, the benefit is capped at 2 visits per calendar quarter. Unused visits do not carry forward to the next quarter.
What are the new rules for lounge access starting June 2025?
From 1st June 2025, you must spend at least Rs. 75,000 in a calendar quarter to be eligible for your 2 complimentary lounge visits in the subsequent quarter.
Does this card offer international lounge access?
No, this card only provides complimentary access to domestic airport lounges within India.
What is the minimum fuel purchase required for the waiver?
You must swipe your card for a minimum of Rs. 500 at the fuel pump to trigger the 1% surcharge waiver.
What is the maximum fuel transaction amount that qualifies?
Currently, the waiver applies up to transactions of Rs. 3,000. Starting 1st June 2025, this upper limit increases to Rs. 5,000 per transaction.
How much can I save on fuel surcharges annually?
You can save a maximum of Rs. 3,500 per year through the fuel surcharge waiver benefit on this card.
Are GST charges on the fuel surcharge also waived?
The 1% surcharge itself is waived, while the applicable GST on that surcharge is borne by the cardholder as per standard banking norms.
Milestone Benefits
10000 reward points(Worth ~ ₹2,500)
Spend ₹75,000 in 90 days
How to Redeem Rewards & Cashback?
Rewards Conversion Rate
1 Mojo point = ₹0.25
Redemption Options
- Statement credit
- E-vouchers
- Merchandise
- Travel
- Recharges
To check redemption catalogue
Accumulating Mojo points is only half the journey; redeeming them efficiently maximizes your financial ...
Read MoreRead Less
Accumulating Mojo points is only half the journey; redeeming them efficiently maximizes your financial ...
Accumulating Mojo points is only half the journey; redeeming them efficiently maximizes your financial benefit. The Kotak Mojo Platinum Credit Card offers multiple versatile redemption avenues through the dedicated portal at kotakrewards.com. The conversion rate is straightforward: 1 Mojo point equals Rs. 0.25. This means if you have saved up 10,000 Mojo points over six months, you hold a total value of Rs. 2,500.
You can use these points to get a direct statement credit, effectively lowering your next credit card bill. If you prefer shopping or gifting, you can exchange points for e-vouchers and merchandise. Frequent travelers can use points for flight and hotel bookings, while everyday users might prefer to use them for mobile recharges. Keep in mind that every time you place a redemption request, a handling fee of Rs. 99 plus applicable GST is charged to your card account. Because of this flat fee, it is wiser to accumulate a large number of points—say, 5,000 points worth Rs. 1,250—and redeem them all at once rather than making frequent small redemptions.
View FAQ
Commonly Asked Questions
How do I redeem my Mojo points?
You need to log in to the official redemption portal at kotakrewards.com using your card details to browse and select your preferred redemption option.
What can I redeem my reward points for?
You can redeem points for direct statement credit, e-vouchers from popular brands, merchandise, travel bookings, and mobile recharges.
What is the exact monetary value of a Mojo point?
Every 1 Mojo point is worth exactly Rs. 0.25 across most redemption categories. Therefore, 4 points equal Rs. 1.
Is there a fee for redeeming my reward points?
Yes, a flat reward redemption handling fee of Rs. 99 plus applicable GST is charged to your account every time you submit a redemption request.
Can I use my points to pay my credit card bill?
Yes, choosing the statement credit option allows you to use the cash value of your Mojo points to directly pay down your outstanding credit card balance.
Do my Mojo reward points expire?
Mojo points remain valid for a period of 2 years from the date of accumulation, after which they expire if not redeemed.
Is there a minimum point balance required before I can redeem?
You must accumulate a minimum of 1,000 Mojo points before you can initiate a redemption request on the rewards portal.
Can I transfer my Mojo points to my friend's Kotak card?
No, reward points are strictly tied to your account and cannot be transferred to another individual's credit card.
Bank Exclusions
You will not earn points / cashback on spends in the following categories
For Points / Cashback Earnings
Fuel
Cash Withdrawals
Wallet Load
Rent
Online Skill-Based Gaming
For Spends Waiver
Fuel
Cash Withdrawals
Wallet Load
Rent
Online Skill-Based Gaming
To avoid disappointment when reviewing your monthly statement, you must know exactly which transactions...
Read MoreRead Less
To avoid disappointment when reviewing your monthly statement, you must know exactly which transactions...
To avoid disappointment when reviewing your monthly statement, you must know exactly which transactions do not earn Mojo points. The bank enforces strict exclusions to prevent point farming on non-retail categories. You will earn zero Mojo points on Fuel purchases, Cash Withdrawals, Wallet Loads, Rent payments, and Online Skill-Based Gaming.
For example, if you pay Rs. 15,000 for your house rent using this card, you will not earn the 150 points you might expect, and you will also incur a rent processing fee. Similarly, adding Rs. 5,000 to your digital wallet yields zero rewards. Beyond earning exclusions, the bank has updated its milestone policies. Effective 1st June 2025, any money spent on Insurance premiums will be completely excluded from counting toward your Rs. 1 Lakh annual fee waiver milestone or your lounge access spend targets. If you pay a Rs. 20,000 life insurance premium in July 2025, it helps you earn reward points (subject to the Rs. 70,000 cycle cap), but it does not bring you closer to making your card free for the next year.
View FAQ
Commonly Asked Questions
Which transactions do not earn rewards on this card?
You earn zero reward points on Fuel, Cash Withdrawals, Wallet Load, Rent, and Online Skill-Based Gaming transactions.
Does paying rent with this card earn reward points?
No, rent payments are strictly excluded from earning any Mojo reward points, and they also attract an extra processing fee.
Do wallet top-ups earn rewards on this card?
No, adding money to digital wallets using your Kotak Mojo Platinum card is an excluded category and yields no reward points.
Are insurance premium payments excluded from rewards?
Insurance payments do earn rewards, but they are capped at a maximum spend of Rs. 70,000 per statement cycle.
How do the new milestone exclusions affect my insurance spends?
Starting 1st June 2025, insurance spends will no longer count toward your milestone calculations, meaning they won't help you achieve the annual fee waiver or lounge access thresholds.
What happens if I accidentally make a payment in an excluded category?
The transaction will process successfully and be added to your bill, but your account will simply not accumulate any Mojo points for that specific spend.
Do cash withdrawals earn points?
No, cash withdrawals never earn reward points and attract high cash advance fees and immediate interest charges.
Bank Fee Structure
| Structure | Details |
|---|---|
Forex Markups  3.5% forex markup is charged on transactions made in currencies other than INR. Applies to international POS payments and online purchases charged in foreign currency. | 3.50% |
APR Fees Finance charges of 3.50% per month (42% per annum) apply on unpaid outstanding balances until the amount is fully repaid | 3.50% |
ATM withdrawal 2.5% of the withdrawn amount is charged on cash advances using the credit card (minimum ₹500, if applicable). | 2.50% |
Reward Redemption Fees No fee is charged when redeeming reward points on this card. | Not Applicable |
Link for all T&Cs | Click Here |
Railway Surcharge A railway booking surcharge of 1.80% for online transactions and 2.50% for other bookings is applied, with additional bank charges and taxes recovered at actuals. | 1.80% |
Rent Payment Fees 1% of the transaction amount is charged as a fee on rent payment transactions, subject to applicable GST and platform charges | 1% |
cheque Payment Fees No cheque payment fee is charged | Not Applicable |
Cash Payment Fees ₹100 will be charged for all payments done via Cash | ₹100 |
| Late Payment Fees | Amount Due |
|---|---|
| ₹0 – ₹100 | ₹0 |
| ₹101 – ₹500 | ₹100 |
| ₹501 – ₹5,000 | ₹500 |
| ₹5,001 – ₹10,000 | ₹600 |
| ₹10,001 – ₹25,000 | ₹800 |
| ₹25,001 – ₹50,000 | ₹1,000 |
| > ₹50,000 | ₹1,200 |
Knowing the exact fee schedule of the Kotak Mojo Platinum Credit Card protects you from unwanted statem...
Read MoreRead Less
Knowing the exact fee schedule of the Kotak Mojo Platinum Credit Card protects you from unwanted statem...
Knowing the exact fee schedule of the Kotak Mojo Platinum Credit Card protects you from unwanted statement surprises. The bank maintains a standard fee structure typical of the Rs. 1,000 category, but certain penalty charges can escalate quickly if you mismanage your payments.
Joining Fee: The card carries a one-time joining fee of Rs. 1,000 plus applicable taxes. However, you can offset this entirely if you complete retail spends of Rs. 30,000 within your first 90 days of card issuance. For example, charging a Rs. 35,000 washing machine to the card in your first month ensures you never pay this initial fee.
Annual or Renewal Fee: From the second year onward, a renewal fee of Rs. 1,000 plus taxes is applied to your statement. The annual fee is waived if you spend Rs. 1 Lakh or more in a year on your card, as per bank policy. Spending just Rs. 8,500 monthly on regular expenses guarantees this waiver every year.
APR or Interest Rate: The bank charges a 3.75% monthly fee if you carry a balance past the due date. Credit cards allow you an interest-free payment period of 20 to 55 days, but failing to pay the full amount triggers this high rate. For instance, if you leave Rs. 10,000 unpaid, you accrue Rs. 375 in interest in just one month, which translates to a massive 45% annually.
Late Payment Charges: Missing your minimum due payment triggers a fine based on your outstanding balance. The fine is Rs. 0 for balances up to Rs. 100, Rs. 100 for balances between Rs. 101 and Rs. 500, Rs. 500 for Rs. 501 to Rs. 1,000, Rs. 600 for Rs. 1,001 to Rs. 5,000, Rs. 750 for Rs. 5,001 to Rs. 10,000, Rs. 900 for Rs. 10,001 to Rs. 25,000, Rs. 1,100 for Rs. 25,001 to Rs. 50,000, and Rs. 1,300 for balances above Rs. 50,000. For example, if you forget to pay a Rs. 4,000 bill, the bank slaps a Rs. 600 fine on your next statement.
Foreign Transaction or Forex Markup Fee: A 2% forex markup is charged on transactions made in currencies other than INR. This applies to international POS payments and online purchases charged in foreign currency. If you buy software online for USD 100 (roughly Rs. 8,300), the bank adds a 2% fee, costing you an extra Rs. 166 for the transaction.
ATM Cash Withdrawal Fee: A fee of 2.5% of the withdrawn amount is charged on cash advances using the credit card, subject to a minimum of Rs. 500. If you withdraw Rs. 10,000 from an ATM in an emergency, you instantly pay a Rs. 250 fee, plus daily interest charges start immediately from day one.
Rent Payment Convenience Fee: A 1% fee of the transaction amount is charged on rent payment transactions, subject to applicable GST and platform charges. If you pay a house rent of Rs. 20,000 through a platform using this card, Kotak charges an extra Rs. 200, making it an expensive way to pay rent.
Railway Surcharge: A surcharge of 1.8% is applied to transactions made for booking railway tickets. Booking a Rs. 3,000 train ticket on IRCTC means you pay an extra Rs. 54 just for using the credit card payment gateway.
Cash Payment Fee: A Rs. 100 cash payment fee is charged per deposit if you choose to pay your credit card bill by handing physical cash to a teller at a Kotak branch. Always pay online via UPI or NEFT to avoid this pointless charge.
Cheque Payment Fee: A fee of Rs. 50 of the payment amount is levied for cheque return, cheque dishonour, or auto-debit reversal. If you set up auto-pay for a Rs. 5,000 bill and your bank account lacks funds, Kotak penalizes you Rs. 50 for the bounce.
Reward Redemption Fee: A reward redemption handling fee of Rs. 99 plus applicable GST is charged per redemption request. If you redeem 1,000 points for Rs. 250 value, you lose Rs. 99 in fees, severely reducing your net gain. It is best to wait and redeem large amounts at once.
| Fee Type | Amount / Rate |
|---|---|
| Joining Fee | Rs. 1,000 (Waived on Rs. 30k spend in 90 days) |
| Annual Fee | Rs. 1,000 (Waived on Rs. 1 Lakh annual spend) |
| Interest Rate (APR) | 3.75% per month |
| Forex Markup | 2% of transaction amount |
| ATM Cash Withdrawal | 2.5% (Minimum Rs. 500) |
| Rent Payment Fee | 1% of transaction amount |
| Reward Redemption | Rs. 99 per request |
| Railway Surcharge | 1.8% on bookings |
| Cash Bill Payment | Rs. 100 per deposit |
| Cheque Return | Rs. 50 |
| Late Payment Fine | Rs. 0 to Rs. 1,300 based on balance slab |
View FAQ
Commonly Asked Questions
What are the joining fees for this card?
The Kotak Mojo Platinum Credit Card has a one-time joining fee of Rs. 1,000 plus applicable taxes.
What is the annual or renewal fee?
The card charges an annual renewal fee of Rs. 1,000 from the second year onwards.
Is there an annual fee waiver based on spending?
Yes, the annual fee is waived if you spend Rs. 1 Lakh or more in a year on your card, as per bank policy.
How can I get this card lifetime free?
The card becomes effectively free by meeting the annual spend milestone of Rs. 1 Lakh, which triggers an automatic waiver of the renewal fee.
What is the interest rate (APR) if I don't pay my full balance?
If you carry a balance past the due date, the bank charges a high interest rate of 3.75% per month on the outstanding amount.
How is the interest calculated on outstanding balances?
Interest is calculated daily on the unpaid balance from the original date of purchase until the balance is paid in full. Over a year, a 3.75% monthly rate can compound up to 45% annually.
What are the late payment charges?
Late fees range from Rs. 0 to Rs. 1,300 depending on your outstanding balance. For example, a balance of Rs. 5,000 attracts a Rs. 600 fine.
Is the late payment fee different based on outstanding amount?
Yes, the bank uses a tiered slab system. Balances under Rs. 100 face no fine, while balances above Rs. 50,000 face the maximum Rs. 1,300 penalty.
What is the forex markup for international transactions?
The bank charges a 2% forex markup fee on any transaction made in a foreign currency.
Can I withdraw cash using my credit card?
Yes, but it is highly expensive. A 2.5% fee is charged on the withdrawn amount, with a minimum charge of Rs. 500.
What are the cash withdrawal charges and limits?
Every time you withdraw cash from an ATM, you pay 2.5% of the amount (minimum Rs. 500), and interest starts accumulating immediately with no grace period.
What happens if I spend more than my credit limit?
Spending beyond your assigned limit results in an over-limit fee of 2.5% of the over-limit amount (minimum Rs. 500) and leads to transaction declines.
Are there fees for paying rent with this card?
Yes, Kotak charges a 1% convenience fee on the total transaction amount when you use this card to pay rent.
Is there a fee for paying my bill in cash?
Yes, walking into a branch to pay your credit card bill with physical cash incurs a Rs. 100 processing fee per deposit.
Is there a fee to redeem my reward points?
Yes, a handling fee of Rs. 99 plus GST is deducted every time you submit a request to redeem your accumulated Mojo points.
Documents Required
To process your application smoothly, you must provide proof of identity, address, and income. Having these ready prevents unnecessary delays.
You need your PAN Card as the primary identity document. For address proof, an Aadhaar Card, Passport, or Voter ID is acceptable. To prove your income, salaried employees should provide their latest two months' salary slips and the last three months' bank statements showing salary credits. Self-employed applicants must submit their latest Income Tax Return (ITR) computation along with business continuation proof.
View FAQ
Commonly Asked Questions
What identity proof is required for this card?
A valid PAN card is mandatory. You will also need your Aadhaar card for quick Video KYC verification.
What income documents must a salaried person provide?
Salaried individuals usually need to submit their salary slips for the last 3 months and the latest bank statements showing regular salary credits.
How can a self-employed person prove their income?
Self-employed applicants must provide their latest Income Tax Returns (ITR) computation to prove they earn at least Rs. 3 Lakh annually.
Do I need to submit physical copies of my documents?
No, if you opt for the online application with Video KYC, you can upload digital copies of your documents directly to the bank's portal.
Is Aadhaar mandatory for the application?
While you can use other address proofs like a Passport or Voter ID for offline applications, Aadhaar is required to complete the swift online e-KYC and Video KYC process.
Can I use my business address as the delivery address?
You can set your business address as the delivery address during the application by providing valid GST registration or utility bills as proof for that location.
Who Should Get This Card?
The Frequent Domestic Traveler: If you take flights across India four to six times a year, the 8 complimentary lounge access passes offer tremendous value. Enjoying a hot meal and a quiet space before a flight easily covers the Rs. 1,000 annual fee, even before you count the reward points.
The Routine Bill Payer: If you consistently use your card to pay Rs. 10,000 to Rs. 20,000 a month in utility bills and grocery apps, you will easily hit the Rs. 1 Lakh annual waiver milestone while steadily accumulating Mojo points.
Who should skip this card? If you want premium cashback rates, look elsewhere. The 0.625% online reward rate is quite low compared to modern cashback cards. Additionally, if you frequently spend on rent and wallet top-ups, the strict exclusions on this card make it practically useless for your needs.
Credit Limit and What to Expect
Your credit limit dictates your purchasing power and impacts your credit score utilization ratio. Kotak Mahindra Bank does not assign a fixed universal credit limit for the Mojo Platinum card. Instead, your limit is custom-tailored based on your monthly income of at least Rs. 25,000 and your CRIF score of 720 or higher. A healthy financial profile results in a higher initial limit.
View FAQ
Commonly Asked Questions
What will be my starting credit limit?
Your starting credit limit is determined by the bank after assessing your income, existing debts, and CRIF score, usually ranging from 2x to 3x your monthly income for initial approvals.
Can I request a higher credit limit later?
Yes, after 6 to 12 months of responsible card usage and timely payments, you can request a limit enhancement through the banking app.
Does spending up to my full limit affect my credit score?
Yes, maxing out your credit limit increases your credit utilization ratio, which can negatively impact your CRIF score over time.
Can I set my own daily spending limits?
Yes, for security purposes, you can use the bank's mobile app to set daily limits for online, offline, and contactless transactions.
Is there a separate limit for cash withdrawals?
Yes, cash withdrawal limits are set at 20% to 30% of your total credit limit and are detailed in your card welcome kit.
Will the bank reduce my limit if I don't use the card?
Prolonged inactivity can sometimes prompt banks to reduce credit limits to minimize risk. Regular, small transactions keep your account active and healthy.
How to Apply?
Applying for the Kotak Mojo Platinum Credit Card is a fully digitized and straightforward process. You can start by visiting the official Kotak Mahindra Bank website or your preferred financial partner portal. Fill out the application form with your personal details, employment information, and PAN card number. After submission, the bank evaluates your credit profile instantly.
If conditionally approved, you will proceed to the Video KYC stage. Ensure you have your physical PAN card handy and a blank piece of paper with a pen for your signature. Keep in mind that a minimum transaction of Rs. 100 within 30 days of receiving the physical card is necessary to activate it. Failing to activate the card within this timeframe means you won't be eligible to earn any Mojo Rewards.
View FAQ
Commonly Asked Questions
Can I apply for this card completely online?
Yes, the entire application process, including document submission and identity verification via Video KYC, can be completed online from your home.
What is Video KYC?
Video KYC is a short video call with a bank executive where you display your original PAN card and sign a paper on camera to verify your identity.
How long does the application process take?
Filling out the form and completing Video KYC takes about 10-15 minutes. Final approval and card dispatch typically take a few working days.
Do I need to make a transaction immediately after getting the card?
Yes, you must make a minimum transaction of Rs. 100 within 30 days of card issuance to activate the card and become eligible for rewards.
What happens if I fail to do the Rs. 100 activation transaction?
If you do not activate the card with a minimum Rs. 100 transaction within 30 days, you lose your eligibility to earn Mojo Rewards.
Can I apply offline at a bank branch?
Yes, you can visit any Kotak Mahindra Bank branch with your physical KYC and income documents to apply in person.
That’s the full story of this credit card
Like this card? Your apply button’s just there.
Top Benefits
Top Benefits
Earn 2.5 Mojo Points
per ₹100 on online spends across categories without any cap
Get Lounge Access
with 8 complimentary airport lounge visits in India every year, limited to 2 per quarter, on spending ₹75,000 or more in the previous calendar quarter
The smartest way to find your great credit card
We value your time and privacy. Your details stay secure and are used only to help you.
Company
We value your time and privacy. Your details stay secure and are used only to help you.