Kotak Private credit card: Rs 49,000 fee, zero forex, invite only, Nov 2026

The Kotak Private credit card has no joining fee and an annual fee of Rs 49,000, waived for eligible Kotak Private clients. Kotak's key fact statement for the card, version KFSKP10082026, also lists nil foreign currency markup and nil dynamic currency conversion fee. Kotak's combined card terms, in a file dated 30 October 2026, carry the same figures. The card page gives no launch date.

The card is by invitation only. Kotak's page says only 0.0004% of India will receive it, a figure the bank bases on a five-year United Nations population projection. It asks customers to contact their Relationship Manager or Service Relationship Manager, or register interest on the page. Kotak publishes no income or balance threshold. The fee waiver lasts only while the holder stays eligible for the Kotak Private programme, and Kotak can charge the fee if the holder moves to a lower programme.

The fee table is short. There is no add-on card fee, no over limit charge, no auto-debit return fee, no fee for paying cash at a branch, no card replacement fee and no reward redemption fee. Kotak lists nil for the extra fees it charges on most of its other cards: fuel, online skill-based gaming, education, utility, rent, wallet loads, tolls and bridges, and railway transactions.

Cash advances cost 1% of the amount and are interest free until the payment due date of that billing cycle, if paid in full. Interest on an unpaid balance is 3.50% a month, or 42% a year. The fuel surcharge waiver is 1% on fuel transactions of Rs 400 to Rs 7,500, up to Rs 10,000 in an anniversary year. Late payment charges run from nil to Rs 1,300, depending on the balance.

Kotak has not published the earn rate. Its terms list Kotak Private among the cards on the Reward Points Program and say the card earns miles on each full Rs 100 spent, the same rounding as the Kotak Solitaire and Kotak Air cards. The terms do not list lounge visits, transfer partners or a welcome benefit for this card.

The closest card from the same bank is the Kotak Solitaire, also invite only, with a Rs 25,000 annual fee waived inside the Solitaire programme and the same zero forex markup. See our Kotak Private page, every Kotak Mahindra Bank credit card, and other cards with a low forex markup.