Kotak Mahindra Bank has made notable updates to its credit card fee structure, effective from June 1, 2025.
The changes cover charges for auto-debit failures, dynamic currency conversion (DCC), utility bill payments, education fees, wallet loading, online gaming,
and fuel transactions. The Minimum Amount Due (MAD) calculation method has also been revised.
Auto-Debit Failure Charges
A 2% fee will apply to the bounce amount if payment fails through NACH, ECS, or auto-debit, with a minimum charge of Rs 450 and a maximum of Rs 5,000.
Minimum Amount Due (MAD) Calculation Changes
The revised MAD will include:
1% of all purchases and cash transactions
100% of EMI payments, including finance charges, fees, and taxes
The MAD will be capped at either Rs 100 or the Total Amount Due (TAD), whichever is lower.
Dynamic Currency Conversion (DCC) Charges
For foreign transactions or purchases from foreign merchants:
A 3.5% fee applies to regular cards
A 2% fee applies to Privy League Signature (Paid), White Reserve, and Kotak Infinite cards
The charge is waived for Kotak Solitaire cardholders.
Utility Bill Payment Charges
A 1% fee will apply to utility bill payments above the prescribed limit in each statement cycle.
This does not apply to premium cards like White Reserve, Kotak Solitaire, Kotak Infinite, Kotak Signature, and Myntra Kotak Credit Cards.
Education Payment Charges
A 1% fee will be charged on education payments made through third-party apps. Premium cardholders mentioned above are exempt from this fee.
Wallet Loading Charges
A 1% fee will apply to wallet loading over Rs 10,000 per statement cycle. Premium cardholders are exempt from this charge.
Skill-Based Gaming Charges
A 1% charge will apply to skill-based online gaming transactions exceeding Rs 10,000. This will not apply to selected premium cards.
Fuel Transaction Charges
A 1% fee will be levied on fuel expenses above the prescribed limit per statement cycle. This does not apply to IndianOil Kotak Card and other premium cards.
