Kotak Mahindra Bank has recently revised its credit card charges and fees — a move that will impact existing customers and those planning to apply for a new Kotak card.
What’s Changing?
Starting this month, Kotak has introduced updated rates for late payment fees, cash advance charges, and reward point structures. Some spending categories, like fuel and utility bills, will also see reduced rewards or higher fees.
Key Updates at a Glance
- Late Payment Charges : Increased fees for missing due dates
- Cash Advance Fees : Now higher per transaction
- Rewards on Fuel & Utilities : Revised earning rates and limits
- Annual Charges : Potential changes based on card variant
Impact on Customers
If you’re a Kotak cardholder, these updates mean you may want to keep a closer eye on your monthly usage and payment schedules. The revised rewards on fuel and utility spends might make those categories less lucrative, so you may need to rethink your spending patterns.
What You Can Do
Check your most recent Kotak card statement or the bank’s website for updated terms. If the new structure doesn’t suit your habits, it could be a good time to look into other card options — especially if you rely on rewards for everyday purchases.
Bottom Line
Kotak Mahindra’s changes reflect a broader trend by banks tightening fee structures and protecting reward programs. If your routine includes regular spending on utilities, fuel, or gaming, it’s important to understand how these revisions impact your card. Staying informed can help you adjust your strategy—or switch to a better-suited card.