Kotak Bank NRI Royale Signature Credit Card Review

Review Summary

The Kotak Bank NRI Royale Signature Credit Card is a basic card with which you can earn up to 2 reward points for every Rs. 200 spent where you earn a reward rate which varies from 0.50%-1%. Also, you get fuel surcharge waiver at all petrol pumps along with NRI shield on insurance transactions. Finance charges associated with this card are 3.10% monthly (37.20% annualised).

Annual fee: Rs. 1000

Reward rate: 0.50%-1%

Kotak Bank NRI Royale Signature

Info

Pros
  • Fuel Surcharge Waiver
  • NRI Royale Shield
  • Add on card benefits
  • Rewards on your spends
Cons
  • Less features
  • No welcome gift
  • Only for NRIs

Additional

  • Earn up to 2 rewards points for every Rs. 200 spent
  • Enjoy paying in INR for all your travel, purchases and dining expenses as you can save the markup fee charged on your credit card issued outside India or the hassles of currency exchange.
  • Waiver of 1% fuel surcharge across all petrol pumps on your fuel spends. This waiver will be allowed within transactions between Rs. 500 and Rs. 3000 subject to a maximum waiver of Rs. 3500 in a calendar year.
  • You can extend the benefits to your loved ones by getting an add on card. A one time fee of Rs. 599 is applicable on per add on card.
  • Insurance cover- maximum Rs. 2,50,000 are covered per year.
  • If most of your spends are international ones and you meet the eligibility criteria by the bank, then this card can be considered.

 

 

In this article

Card Rating
Pros and Cons
Features and Details
Kotak Bank NRI Royale Signature Credit Card: Benefits
Rewards
Reward rate
Where Kotak Bank NRI Royale Signature Credit Card falls short!
Fees and Charges
Eligibility
Why should you sign-up for this card?
How to use the card to maximise the benefits
Is this the right card for you?
Similar cards: In case Kotak Bank NRI Royale Signature Credit Card doesn’t impress you!
Kotak NRI Royale Signature Vs ICICI NRI Coral Credit Card
Final Word

Card Rating

MeasuresRating (Out of 5)
Annual Fees3.5
Rewards2
Features2
Interest Rate2
Joining Bonus0

Pros and Cons

ProsCons
Fuel Surcharge Waiver Less features
NRI Royale Shield No welcome gift
Add on card benefits

Kotak Bank NRI Royale Signature Credit Card Features and Details

Annual FeesRs. 1000
Rewards Earn up to 2 rewards points for every Rs. 200 spent
Finance Charges3.10%
Late Payment Charges 0-100: Nil
100-500: 100
501-10000: 500
Above 10000: 700
Foreign Currency Transaction 3.5%
Over-limit penalty Rs. 500
Cash Advance ChargesRs. 300

Kotak Bank NRI Royale Signature Credit Card: Benefits

Rewards

With this card, you earn 2X i.e. 2 Reward Points for every Rs. 200 spent outside India and 1 reward point for every Rs. 200 spent within India. You can redeem your accumulated reward points against Cash, Airline tickets, Air Miles, Movie Tickets, Mobile Recharge, Branded Merchandise and more.

Reward Rate

With this card, your reward rate varies from 0.5%-1% where 1 reward point= Rs. 1. You get a reward rate of 1% for all spends outside India and 0.5% for your spends within India.

Freedom to purchase and pay in INR

Enjoy paying in INR for all your travel, purchases and dining expenses as you can save the markup fee charged on your credit card issued outside India or the hassles of currency exchange.

Surcharge Waiver

Waiver of 1% fuel surcharge across all petrol pumps on your fuel spends. This waiver will be allowed within transactions between Rs. 500 and Rs. 3000 subject to a maximum waiver of Rs. 3500 in a calendar year.

You also get railway surcharge waiver for transactions on www.irctc.co.in and transactions on Indian Railways Booking Counters. However, a maximum waiver of Rs. 500 is allowed in a calendar year.

Add on Card

You can extend the benefits to your loved ones by getting an add on card. A one time fee of Rs. 599 is applicable on per add on card. Also, an add on card will be issued irrespective of location or citizenship status.

NRI Royale Shield

If you misplace your card or its stolen, then you can report it to the Bank’s customer care on 1860 266 2666 to deactivate/block/cancel your card to prevent it from misuse and register a claim with the insurance company. All the transactions before 7 days from your call are covered. However, maximum Rs. 2,50,000 are covered per year.

Where the Kotak Bank NRI Royale Signature Credit Card falls short!

No welcome gift

With Kotak Bank NRI Royale Signature Card, you don’t get the added benefit of welcome gift. However, there are others cards which offer you the benefit of welcome gift.

Less Features

With this card, you don’t get any offers on dining, movies or golf privileges. You just get reward points for you spends. So if you are looking for cards which offer additional benefits, then it would be better to go for some other card.

Kotak Bank NRI Royale Signature Other Fees and Charges

Annual Fees

With Kotak NRI Royale Signature, you don’t have to pay any joining fees. However, an annual fee of Rs. 1,000 will be charged per year.

Finance Charges

You should make a habit of paying all your dues on your credit card as per your credit card statement because if you just pay the minimum amount due then, an interest rate charged will be 3.10% per month, i.e. (37.20% annually). It is a good habit to pay your bills before the due date. This will help in maintaining a good credit score which will, in turn, help you in getting better credit card deals and loans in the future.

Late Payment Charges

You will have to incur late payment charges if you are not able to pay your outstanding balance in full. These charges depend on your balance statement and are described in the table below:

Amount DueCharges(in INR)
0-100Nil
100-500100
501-10000500
Above 10000700

Overseas transactions

You have the option of using your card for foreign transactions. However, you will be charged a foreign transaction fee for the same. For international transactions in US Dollars, you will be charged 3.5% of the INR equivalent of the US Dollar amount. If the transaction takes place in some other currency than US Dollars, then the transaction would be converted to US Dollars first, and then 3.5% charge would be levied on the INR equivalent of the US Dollars.

Over Limit Penalty

If by any chance you have spent more than your card limit then you will be charged Rs. 500 as over limit penalty. For example, your card limit is Rs. 40,000 and your spends are 42,000 then you will be charged an over-limit penalty of Rs. 500.

Cash Advance charges

When you run out of all other options, only then should you withdraw cash from your credit card. Withdrawing cash from your credit card should be your last resort. The reason being that interest starts accruing on your transaction as soon as you make the withdrawal. On top of that a one time fee of Rs. 300 is charged.

Other Charges

Cheque Bounce Payment: Rs. 500

Cash payment at the branch: Rs. 100

Card Replacement: Rs. 100

Add on Card fee: Rs. 599

Kotak NRI Royale Signature Eligibility

You will be eligible to apply for this card if you fulfil the below-mentioned criteria:

  1. Age between 18-75 years (Primary Card holder)
  2. Age above 18 years (Add on card holders)
  3. Should hold an NRE/NRO account
  4. Individual TD (Minimum TD amount= Rs. 1 lakh)
  5. Non-Resident Indian with an Indian Residential Address

Why should you Sign-up for this card?

  1. Fuel Surcharge waiver
  2. Add on card benefits
  3. NRI Royale shield
  4. Decent rewards program
  5. Railway surcharge waiver

How to use the card to maximise the benefits

Use the card for international spends

With this card, you get 2 reward points for every Rs. 200 spent on international spends where you get a reward rate of 1%.

Use the card for fuel spends

You get fuel surcharge waiver of 1% for transactions between Rs. 500 to Rs. 3000 subject to a maximum of Rs. 3500 in a calendar year. So use your card for fuel spends in order to get the waiver.

Is this the right card for you

If most of your spends are international ones and you meet the eligibility criteria by the bank, then this card can be considered. It offers a decent rewards program, fuel surcharge waiver, railway surcharge waiver, and a lot more. You can go for this card if you don’t mind paying the annual fees associated with this card.

Similar Cards: In case Kotak Bank NRI Royale Signature Credit Card doesn’t impress you!

If you are still looking for cards which will suit your requirements, then this section might help you to choose a card. In this section, we will be comparing other cards to Kotak Bank NRI Royale Signature Credit Card which offer similar/better benefits.

Kotak NRI Royale Signature Vs ICICI NRI Coral Credit Card

ICICI NRI Coral Credit Card is another card specially designed for NRI Citizens.

Category Kotak NRI Royale SignatureICICI NRI Coral
Reward rateVaries from 0.5%-1%Nil
Lounge accessNil2 per quarter
Movie OffersNil2 complimentary tickets per month (Rs. 250 each)
Dining OffersNilMinimum 15% discount at participating restaurants
Reward points with Kotak NRI Royale Signature

You can earn up to 2 reward points for every Rs. 200 spent with Kotak NRI Royale Signature Credit Card. Whereas you don’t get reward points with ICICI NRI Coral Credit Card.

Complimentary lounge access with ICICI NRI Coral

You get 2 complimentary lounge access per quarter with ICICI NRI Coral. However, this program is applicable till September 30, 2017. Whereas you don’t get any lounge access with Kotak NRI Royale Signature Credit Card.

Movie offers with ICICI NRI Coral

You can get 2 movie tickets free per month which is subject to Rs. 250 each through bookmyshow.com. Whereas no such movie offers are provided by Kotak NRI Royale Signature Credit Card.

Dining Benefits with ICICI NRI Coral

You get a minimum of 15% discount with ICICI Bank NRI Coral under its ICICI Bank Culinary Treats Programme. Whereas you don’t get any offers on dining with Kotak NRI Royale Signature Credit Card.

Bottom Line

As discussed ICICI NRI Coral Credit card it provides offers on dining, movies, complimentary lounge access, benefits with UBER and lot more. However, you can not earn reward points for the money you spend. This card charges a similar annual fee as of Kotak NRI Royale Signature which is Rs. 1000. If you want reward points you can consider Kotak NRI Royale Signature otherwise you can go for ICICI NRI Coral.

Final Word

This review might have helped you understand the features, benefits and shortfalls of Kotak NRI Royale Signature Credit Card. You get a decent rewards program, fuel surcharge waiver, railway surcharge waiver, insurance cover against fraudulent transactions, and benefits on add on card. If this card does not suit you or you don’t like this card, then you can go for ICICI NRI Coral Credit Card.