Kotak 811 #DreamDifferent Credit Card

Kotak Mahindra Bank · Open to apply

An FD-backed RuPay credit card with no annual fee and no income or CIBIL check, opened against a Kotak fixed deposit of ₹10,000 or more. From September 2026 it pays 2% cashback into the holder's Kotak savings account, but only in a billing cycle with ₹15,000 of spend, and capped at ₹500 a cycle (₹200 of that on UPI).

Annual fee
₹0 a year
Joining fee
₹424 + GST
Base rate
2% cashback on card spends: 2% cashback (about 2% at cash value)
Lounges
None on record
Forex markup
2%
Data
From bank documents, checked 23 Oct 2026

Earns nothing on

  • No cashback on wallet loads, fuel, rent, cash, EMI, gaming and insurance

Where the sources disagree

  • joining fee: The product page (dated 18 Apr 2026) still shows "No joining fee - limited period offer", and the fees page (8 Aug 2026) shows ₹250 + GST. The MITC and the FAQ give ₹424 + GST (₹500 including GST) from 1 Sep 2026 with no waiver. We use the MITC.
  • foreign currency markup: The fees page (8 Aug 2026) shows 3.5%; the KFS and the MITC give 2% with no effective date (their 1 Sep 2026 date applies to the DCC fee only). When the markup changed is not found. We use 2%.
  • rent payment fee: The KFS gives 2% on MCC 6513; the fees page gives 2% from 15 Apr 2024 and also carries a "no charges" line. We use the KFS.
  • fuel surcharge waiver band: The KFS and MITC give ₹500 to ₹4,000, capped at ₹3,500 a year; the fees page says ₹500 to ₹3,000. We use the MITC.
  • credit limit against the FD: The product pages say up to 90% of the FD; the MITC's general secured-card clause says 80%. Both are recorded in the eligibility note.
  • minimum FD: The MITC (raised from ₹5,000 to ₹10,000 from 1 Apr 2025), the kotak.com FAQ and the apply page say ₹10,000. A Kotak article of 16 Jul 2026 still says ₹5,000, which is stale. We use ₹10,000.

Terms the calculator does not value

  • Cashback is paid only in a billing cycle in which spend is ₹15,000 or more; the calculator pays 2% on any spend. Spenders below ₹15,000 a month would earn nothing.
  • Cashback is credited to a Kotak savings account and counts only if the card bill is paid through Kotak's own digital channels; otherwise no cashback.
  • The cashback T&C also excludes gold purchases, business-to-business MCCs, wholesale clubs (5300) and some other single MCCs, and the bank reads transaction narrations (rent, wallet load, fund transfer) to exclude spends; these have no category of their own and earn 2% here. Cashback on UPI counts only for payments made in the Kotak 811 app.
  • Kotak's landing page advertises a ₹1,500 Amazon voucher on spends in the first 90 days. The offer terms are not verified, so it is not entered as a welcome benefit.
  • Railway ticket surcharge waiver of 1.80% (online) and 2.50% (counter), capped at ₹500 per anniversary year, is not modelled.
  • The Metal Dream Different variant (₹3,500 joining fee) is not entered; its network and benefits are not found.

Sources

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