Kotak Mahindra Bank Classic Debit Card - Benefits, Charges and Eligibility
Kotak Mahindra Bank Classic Debit Card Overview
Kotak Classic Debit Card combines the benefits of a regular ATM card and a payment card. This Debit Card is available in both VISA and MasterCard variants.
Kotak Mahindra Bank Classic Debit Card Features
- Available in both VISA and MasterCard variants
- Purchase Limit: Rs. 1,50,000 Per Day & ATM Limit Rs 50,000/ Rs 75,000 Per Day
- Access at all merchant establishments and ATMs that accept VISA/ MasterCard cards in India and abroad
- Available as Magnetic Strip Card and Chip Card (Chip card provides additional security and is available on request at no additional cost)
- Use your card for online shopping, e-payments and bill payments
Kotak Mahindra Bank Classic Debit Card Eligibility
All resident Savings Account holders & Non-resident NRE Savings Account holders of Kotak Mahindra Bank except customers of Easy Accounts. Existing eligible customers can also upgrade the accounts to apply for this card.Kotak Mahindra Bank Classic Debit Card Fees & Charges
- Annual Fee (Edge / Nova Account) : Rs 150 plus applicable taxes
- Annual Fee (Pro / Classic Account) : Nil
- Annual Fee (Ace Account) : Nil
- Annual Fee (Platina Account) : Nil
- Annual Fee (Add-on Card) : Rs 150 plus applicable taxes- For Edge / Nova Pro / Classic Accounts; Nil - Ace & Platina Account
- Replacement of Lost Debit Card: Rs 200 plus applicable taxes
- Replacement of Damaged Debit Card: Nil
- Image Debit Card Issuance Charge: Rs 199
- Declined Transactions due to insufficient balance: Rs 25 per transaction
- Cash Withdrawal / Balance Enquiry at international ATMs: Rs 150 per transaction
Kotak Mahindra Bank Classic Debit Card Benefits
- Cashless shopping with VISA/ MasterCard Debit Card
- Get an SMS and Email alert on your registered mobile phone and Email ID for every transaction done using your Classic Debit Card
- Free Lost Card Liability Cover: Rs. 1,50,000
- Free Purchase Protection Limit: Rs. 50,000
- Add-on card can be issued
- Offers & Discounts at Merchant Outlets in categories such as Lifestyle, Fine Dining, Travel, Health and Fitness
- You can call bank's Emergency Helpline for Card Blocking/ assistance
- Secure Online Shopping
- 24/7 customer care facility
- Highly safe and secure transactions
Kotak Mahindra Bank Classic Debit Card Documents Required
- Proof of Identity : Aadhaar Card/ PAN Card/ Passport Driving License/ Voter ID Card
- Proof of Address : Aadhaar Card/ Driving License/ Ration Card/ Voter ID Card/ Passport
- Passport sized photographs
What is EMV-Chip Based Debit Card?
EMV stands for Europay MasterCard and Visa, who developed this technology. EMV-chip based debit cards are the debit cards which have embedded microprocessor chip that stores and protects cardholders' information/ data. It uses enhanced security features to protect the important date of the card holders and discourages card's unauthorized usage.
EMV-chip based debit card generates fresh user data every time the user transacts. Therefore, it is impossible for hackers/ fraudsters to steal the information or copy the original data from any card. Further, EMV technology uses your debit card as well as PIN to complete any transaction.
The Reserve Bank of India (RBI) has asked all banks in the country to replace magnetic-strip debit/ credit cards with EMV-chip based cards by 31 December 2018 as magnetic cards are quite vulnerable to skimming. Banks have already replaced the existing magnetic strip debit/ credit cards with latest EMV chip cards. Banks will provide it free of cost.