Kotak Mahindra Silk Inspire Credit Card

Kotak Mahindra's Silk Inspire Card is great for students who love to shop for apparel. One can get an 5% cashback on retail purchases of Rs.7,500 each month (max Rs. 500 back per cycle). It is a secured student credit card that requires a minimum fixed deposit of Rs 50,000.

Benefits of Kotak Silk Inspire Credit Card

  • Cardholders also get attractive offers for swiping the card on dining, travel, shopping, or entertainment.
  • Kotak Silk Inspire Credit Card members can earn up to 5x reward points on every Rs.100 spent on apparel using the card. Minimum retail shopping spends is restricted to Rs.7500 per billing cycle.
  • You can get add-on cards associated with a primary card and avail of the benefits your loved ones are getting at a nominal fee. You can set the spending limit on your add-on card and can track the spending separately.

The eligibility criteria to apply for Kotak Mahindra Silk Inspire Credit Card

  • The minimum age to apply for Kotak Mahindra Silk Inspire Credit Card is 18 years and the maximum is 75 years old.
  • You are located in Bangalore, Ahmedabad, Chennai, Delhi, Chandigarh, Hyderabad, Mumbai, Kolkata, Navi Mumbai, or Pune.
  • If you have an individual term deposit with a minimum amount of Rs.50, 000.
  • You are an Indian resident.

The documents required to apply for Kotak Mahindra Silk Inspire Credit Card

Documents required to apply for Kotak Bank Credit Card

Both Self-employed and Salaried

  • Filled Credit Card Application form
  • Passport-size photographs
  • Identity Proof- PAN Card, Aadhaar Card, Voter ID, Driving License, Passport, etc
  • Residence Proof- Utility bills, PAN Card, Aadhaar Card, etc

Salaried- Income proof

  • Latest salary slips
  • Form 16 of 3 Years
  • Latest 6 months bank statements

Self-employed- Income Proof

  • Income proof
  • Account Statements
  • Business proofs

Kotak Silk Inspire Credit Card fee and Charges

Fee Type Amount
Joining Fees RS. 599 one-time joining fees will be charged for the first year.
Annual Fees Annual fee of Rs.599 will be charged at the beginning of the second year. This fee can be waived if the customer has spent Rs. 1, 25, 000 in the first year.
Duplicate Card Rs 100
Cash Payment Payments made is bank will attract Rs.75 processing fee.
Foreign Currency Mark-up Up to 3.5%
Add-on Card NIL
Interest Charges 35% annually

Though we are not dealing with Student Credit Cards at present but IndiaLends has collaborated with the top banks to offer you a low-annual fee or lifetime free credit cards. It can work well for students also. You can check here our range of credit cards and choose the one that suits you well.