|Fee & other Parameters||Bestprice||BestPrice-Premium|
|Annual Fees||Nil||Rs. 999|
|Condition for waiver of Annual Fees - First Year||NA||NA|
|Condition for waiver of Annual Fees - Second Year||NA||NA|
|Addon card Fees||Nil||Nil|
|Interest Charges on outstanding Balances||3.40% (Annualized 40.8%)||1.5% (Annualized 18.0%)|
|Minimum Amount Due (MAD) (It will reflect in statement in column of minimum amount due)||NA||NA|
|ATM Cash Withdrawal/ Call a draft/ Fund Transfer/ Cash Advance per Rs. 10,000 or part thereof||NA||NA|
|Late Payment Charges ("LPC")***||NA||NA|
|Over Limit Charge||NA||NA|
|Cheque Bounce Charges||Rs. 500||Rs. 500|
|Foreign Currency Mark Up||NA||NA|
|Railway Booking Surcharge ( on transaction amount)*||NA||NA|
|Fee for Cash payment at Bank||Rs. 100||Rs. 100|
|Outstation Cheque Processing Fee||Waived||Waived|
|Reissue/ Replacement Card (per issunace)||Waived||Waived|
|Charge Slip Request||Waived||Waived|
|Machine Surcharge at ATMs||NA||NA|
|Balance Enquiry Charges at Non Parent Bank ATM||NA||NA|
|Duplicate Statement Request||Waived||Waived|
|Web Pay Service Fee||NA||NA|
|*For Most Important Terms & Conditions (MITC) and Card Holders Agreement|
|Please Note: All the taxes would be charged as per the rates approved in the Finance Act each year on all interest & fees and other charges levied on your Credit Card|
Credit card balance transfer is the process of transferring owed balance from one credit card account to another. Upon carrying out this process, the debt is owed to the new card issuer as opposed to the original card issuer.
Your “Kotak Best Price business card” presents you with “Business-credit advantage”. Kotak Mahindra Bank in partnership with Best Price offers you not only with business card convenience but also extends benefits that would enhance your business efficiencies. It will be a handy tool for cash-flow-management for your business.
At the moment we are 2 variants:
On Kotak Best Price Business card & Kotak Best Price Business card - Corporate - Enjoy 14days credit cycle that starts afresh on every transaction on your Kotak Best Price Business credit card. Each transaction on this card needs to be backed by a PDC of the total purchase amount when the card is swiped in a Best Price store. Both these cards can only be used inside Best Price Stores.
Beyond the credit advantage, you benefit on “convenience” of managing your business and all of this comes to you absolutely free.
Best Price store-members (wholesalers, self employed person and other businessmen who are eligible to shop at Best Price store as per store-policy) can apply for this business card. All applicants would be evaluated for their credit worthiness as per the Kotak Best Price card policy.
You will need to contact our financial associates at the Financial services helpdesk within the Best Price stores for the same.
Your interest-free period begins from the date of transaction and continues till the date of the PDC given for the transaction. The maximum interest free period hence PDC date per transaction can be 14 days including the date of the transaction.
Rate of interest for Kotak Best Price Business card is 3.4% per month and for Kotak Best Price Business card-Corporate is 1.5%. For detailed explanation for interest calculation, please refer to MITC (Most Important Terms & Conditions). The MITC is handed over to you prior to you apply along with the application form and is also available on our website.