Quick Answer: What Is The Minimum Salary For Kotak Credit Card?

What is minimum amount due?

As the name suggests, it is the minimum amount you are required to pay on or before the payment due date to maintain your card account.

It is only a small portion of the principal outstanding every month.

Typically, the minimum amount due is calculated as 5% of your outstanding balance..

What happens if we pay only minimum on credit card?

Risk of paying the minimum amount The interest is charged from the date of the purchase, and not the end of the billing cycle. Hence, every time you pay only the minimum balance you incur interest charge on that amount from day one and effectively lose out on the benefit of the credit-free period.

Which bank credit card is best?

List of 10 Best Credit Cards in India for 2020Top 10 Credit CardsAnnual FeeBest Suited ForAxis Bank Ace Credit CardRs. 499CashbackAmazon Pay ICICI Credit CardNilOnline Shopping & CashbackHDFC Regalia Credit CardRs. 2,500Travel & ShoppingIndianOil Citibank® Platinum Credit CardRs. 1,000Fuel6 more rows•Dec 22, 2020

Which credit card is best for low income?

Top Low Income Credit CardsCredit Card VariantAnnual FeeCategoryYES Bank Prosperity Reward Plus Credit CardRs.0RewardsICICI Platinum Chip Credit CardRs.0LifestyleMakeMyTrip ICICI Bank Platinum Credit CardRs.0TravelSimplyCLICK SBI CardRs.499Online Shopping6 more rows

What is the minimum salary to apply for credit card in HDFC Bank?

₹ 12,000In order to apply for HDFC Credit card offers one needs to meet the following eligibility criterias, as listed below: Income: The minimum income of the applicant should be ₹ 12,000 for salaried employees and annual income after tax deduction should be ₹ 2.50 Lakh for self employed.

Which bank gives easy credit?

Axis Bank Insta EasyThe Axis Bank Insta Easy Credit Card is a chip & pin enabled credit card that puts your banking experience at ease by issuing the card against your Fixed Deposit with Axis Bank.

What is the billing cycle of Kotak Credit Card?

Effective 5th May, 2014: Payment Due Date on your Card can be between 18 and 21 days after the Statement Date (Please check your statement for your exact Payment Due Date). Therefore free credit period can range from 18-48 days to 21-51 days depending on your Payment Due Date.

How can I get a credit card with 10000 limit?

15 Credit Cards with $10,000+ Limits in 2020Chase Sapphire Reserve® … Capital One Venture Rewards Credit Card. … Capital One® Savor® Cash Rewards Credit Card. … Capital One Venture Rewards Credit Card. … Discover it® Miles. … Capital One VentureOne Rewards Credit Card. … Chase Freedom Unlimited®More items…•

What is the late payment fee for Kotak Credit Card?

Fees & ChargesFee & other ParametersUrbaneLate Payment Charges (“LPC”)Rs. 500 for statement o/s between Rs. 500.01 to Rs. 10,000.Rs. 700 for statement o/s greater than Rs. 10,000)Over Limit ChargeRs. 500Cheque Bounce ChargesRs. 50024 more rows

Can I get credit card without salary slip?

Can I get a credit card without Income Tax Return? Yes, you can avail a credit card without Income tax return as no credit cards issuers ask for IT returns from customers.

Can I withdraw cash from Kotak credit card?

Also known as “Cash Advance” feature, a cash withdrawal facility on Kotak Mahindra Bank allows the cardholders to withdraw cash from any domestic and international ATM (Automatic Teller Machine). … Cash advance limit on your card is a subset of the credit limit on your credit card.

How can I improve my cibil score?

7 Guaranteed Ways to Improve your CIBIL ScoreHighlights.Keep track of EMI deadlines to boost your credit score.Maintain old credit cards to strengthen credit history.Improve credit score with a low credit utilisation ratio.Better your credit score by taking loans with a long tenor.

How can I increase my Kotak credit card limit?

Shift the Card Limits If you have multiple credit cards, you could consider this option. First, decide which card’s limit you want to increase and then transfer the limit from your other card or cards to the card you have chosen. This will work as long as both cards are from the same issuer.

What is minimum amount due in Kotak credit card?

The minimum amount due is a small portion of the total bill that the customer needs to pay to avoid penalty for late payment. For instance, if the total due amount is Rs. … 1,200 against your bill amount of Rs. 12000, you will not be charged any penalty.

Which is best credit card in Kotak Mahindra Bank?

Best Kotak Mahindra Bank Credit Cards for 2020Kotak Credit CardsAnnual FeeBest Suited ForKotak Essentia Platinum Credit CardRs.749ShoppingKotak PVR Platinum Credit CardRs.999EntertainmentKotak Delight Platinum Credit CardRs.299Dining & CashbackKotak League Platinum Credit CardRs.499Rewards4 more rows•Dec 16, 2020

How can I check my Kotak credit card limit?

Visit Kotak.com to know more about reward redemption options. Example: If last 4 digits of your Kotak Card Number is 1234 and you wish to know your available credit limit, just SMS “CCAVBL 1234” to 5676788 or 9971056767.

What is the interest rate for Kotak Credit Card?

Kotak Credit Card Interest Rate CalculationParticulars of the Credit CardCredit Card Interest Rate3.50% per month / 42.00% per annumTransaction date1 July 2020Total Amount DueRs. 10,000Minimum Amount Due (5% of total Outstanding)Rs. 5003 more rows•Feb 26, 2020

Is ATM card a credit card?

It’s important you realize that debit cards are not credit cards, as the money that they draw from is the money that is on deposit in your bank account. Because you’re using your own money to make purchases you don’t have to pay interest on the things you buy with your debit card.

What is minimum salary for credit card?

The minimum salary is Rs. 12,000 per month for a salaried person, while its Rs. 2 lakh per annum for self-employed individuals. Applicant should have a regular source of income and a good credit score.

What happens if we pay minimum due on Kotak credit card?

If you pay the minimum amount due (or make a part pyment of your bill) for the current bill, then in your next Credit Card bill you will not be charged late payment fee if you make your payment before the due date. … Interest is also levied on all fees, charges and GST.

Can I get credit card with 15000 salary?

Banks do provide credit cards for low salaried (Rs 8,000- Rs 15,000) depending on the annual income. Eligibility on the card will be 3 times of the monthly salary.