Kotak, METRO Cash & Carry India Launch Co-Branded Credit Card Details Here
The new METRO Kotak Credit Card is a credit card launched by Kotak Mahindra Bank Limited jointly with METRO Cash & Carry to offer a hassle-free, affordable credit service to their customers. METRO Cash & Carry has over 3 million registered customers who can avail a facility of interest-free credit for up to 48 days.
This card is available on RuPay network. Moreover, the main beneficiaries of this credit card would be the existing customers of METRO Cash & Carry. To learn more about its benefits and features, please keep reading.
Features and Benefits of METRO Kotak Credit Card
The top 7 features and benefits of this new credit card include the following:
- Cashback: You can earn up to Rs. 1000 Card cashback every month. The rewards rate is 1% on purchases over Rs. 10,000. Therefore, your total earnings will depend on the purchase you make at METRO.
- Welcome benefits: Kotak METRO Card offers you Rs. 500 as a welcome gift when you make a purchase of Rs. 10,000.
- Interest-free credit: This card offers credit fully free of interest for up to 48 hours, which can help customers of the B2B section as they purchase products in bulk.
- Repayment method flexibility: You can repay your credit card bill through online transfer or cash at your convenience.
- Minimum documentation required: You require a very few documents to apply, with zero annual or joining fees.
- Credit card limit: The range of credit cards starts from Rs. 25,000 and goes up depending on your expense pattern at METRO Cash & Carry.
- No bank account required: If you are a METRO business customer, then you can apply for this card even if you do not have a bank account.
So, apply for credit card and make the most of these perks.
METRO Kotak Credit Card Contactless Payment
The METRO Kotak Card uses the RuPay contactless payment method for a faster and easier way to pay. Moreover, these transactions are secured with just one tap, without having to enter your PIN code. Using this method, you can pay up to Rs. 5000.
The benefits of contactless payment include:
- Secure transactions without the hassle of PIN code entry.
- Quicker transactions with just one tap.
- You do not have to hand over your credit card, reducing the risk of theft or germ transmission.
- The risk of fraudulent transactions is lower as this card is bolstered with multiple security layers.
Fees & Charges for METRO Kotak Credit Card
| Type Of Charges | Amount/Percent |
| Joining Fees | NIL |
| Annual Fees | NIL |
| Add-on Card Fees | NIL |
| Minimum Amount Due (MAD) | 10% |
| Interest Charges for Unpaid Bill | 3.5% (Annualized 42%) |
| ATM Withdrawal Fund Transfer or Cash Advance Charge for Every Rs. 10,000 | Rs. 300 |
| Late Payment Charges or LPC | Rs. 100 if the due is less than or equal to Rs. 500.Rs. 500 if the due is between Rs. 500.01 to Rs. 10,000Rs.700 if the due is more than Rs. 10,000 |
| Fuel Surcharge | NIL |
| Charges for Cash payment at Bank | Rs. 100 |
| Charges for Re-issuing or Replacement of the Card | Rs. 100 (per issuance) |
| Exceeding Limit Charge | Rs. 500 |
| Bounced Cheque Charges | Rs. 500 |
How to Apply for METRO Kotak Credit Card
To apply for a METRO Kotak Credit Card online, you can follow these five simple steps:
Step 1: Go to the official website of Kotak Mahindra Bank
Step 2: Click on the “Explore Products” section, followed by “Cards”, followed by “Credit Cards”
Step 3: Under the credit cards section, you will see the “METRO Kotak Credit Card” option. Click on it.
Step 4: Click on “Apply Now”.
Step 5: In the redirected page, enter all necessary information and details and submit.
Step 6: Wait for confirmation from the bank’s professionals. They will get in touch soon.
Eligibility Criteria and Requirements for METRO Kotak Credit Card
Before you apply for the Kotak Credit Card, you must know where you stand in terms of eligibility. The following are the criteria you need to meet:
- Age: To be the primary cardholder, your age must range between 18 years and 65 years
- Residency: You must be an Indian resident
- Employment: You must either be self-employed or owner or partners at any partnership firms
- Membership: You must a member of METRO Cash & Carry India with a valid membership card
- Others: These may include the financial status of your business, credit score, etc.
Documents and other necessities include:
- Proof of Identity: It may include your Aadhaar card, Voter Id, PAN card, etc.
- Valid METRO membership card
- Proof of Business: The registration certificate of your business, along with the address and income proof of your business.
Kotak Mahindra is one of the top financial Institutions in India, whereas METRO Cash and Carry is a prominent organised wholesaler and food specialist. The new co-branded credit card, known as the METRO Kotak Credit Card is an initiative that offers you a hassle-free experience when you are shopping in bulk quantities. For instance, their no-interest credit repayment policy can significantly reduce your repayment burden. In this article, the prime benefits and features of this card have been discussed, so that you can avail the most out of shopping at METRO Cash and Carry.
