Kotak Mahindra Bank has announced significant updates to its credit card charges, effective from June 1, 2025. These changes include revised fees for standing instruction failures, dynamic currency conversion, utility spends, education payments, wallet loading, online skill-based gaming, fuel transactions, and a new method for calculating the Minimum Amount Due (MAD).
Standing Instruction Failure
Standing Instruction Failure / Auto-debit return fee (includes NACH, ECS, Auto Debit): a Standing Instruction Failure or Auto-debit return—whether through NACH, ECS, or Auto Debit—will attract a fee of 2.0% on the bounced amount, with a minimum charge of Rs 450. The maximum fee applicable for such failures has been capped at Rs 5,000.
Also read: Bank of Baroda, Kotak Mahindra Bank revise FD interest rates: Check latest rates in May 2025
Minimum Amount Due (MAD)
The MAD will be calculated as 1% of all purchase transactions and cash advances, plus 100% of any EMIs, finance charges, applicable fees, and taxes. This amount will be subject to a minimum of Rs 100, or up to the Total Amount Due (TAD), whichever is lower. The MAD will be displayed in the summary section of your monthly statement.
Dynamic Currency Conversion (DCC) fee
A DCC fee of 3.5% will apply to all Kotak credit cards, except for select variants. The fee is reduced to 2% for Privy League Signature (Paid Variant), White Reserve, and Kotak Infinite cards. It is completely waived for Kotak Solitaire Credit Card. The DCC fee applies to all transactions conducted in Indian currency at international locations or with merchants registered overseas but located in India.
Fee on Utility Spends
A fee of 1% will be charged on cumulative utility spends that exceed the defined threshold per statement cycle. This fee is not applicable to the following credit cards: White Reserve, Kotak Solitaire, Kotak Infinite, Kotak Signature, and Myntra Kotak Credit Card.
Fee on Education Payment
A 1% transaction fee will be applicable on all education payments made through third-party applications. This fee will not apply to White Reserve, Kotak Solitaire, Kotak Infinite, Kotak Signature, and Myntra Kotak Credit Cards.
Fee on Wallet Loading
A 1% fee will be charged on cumulative wallet loading (adding money from credit card to wallet) transactions exceeding Rs 10,000 per statement cycle. This fee is not applicable to White Reserve, Kotak Solitaire, Kotak Infinite, Kotak Signature, and Myntra Kotak Credit Cards.
Fee on Online Skill-Based Gaming
A 1% fee will be levied on cumulative online skill-based gaming transactions exceeding Rs 10,000 per statement cycle. This fee is not applicable to White Reserve, Kotak Solitaire, Kotak Infinite, Kotak Signature, and Myntra Kotak Credit Cards.
Fee on Fuel Transactions
A 1% fee will be applicable on cumulative fuel spends exceeding the specified threshold per statement cycle. This fee will not apply to White Reserve, Kotak Solitaire, Kotak Infinite, Kotak Signature, IndianOil Kotak Credit Card, and Myntra Kotak Credit Card.
