New fees will be implemented from June 1, 2025
Buying petrol, diesel and CNG from credit card is going to be expensive very soon. The private sector bank is going to charge a new fee of 1 percent on the purchase of petrol and diesel from the credit card from June 1. Yes, Kotak Mahindra Bank will impose a fee of 1 percent on the purchase of petrol and diesel from its credit card users. However, this fee will be recovered in a situation when the card holder will transact for the purchase of petrol and diesel from the credit card even after a fixed limit. According to the Economic Times report, this new fee will be applicable to the selected credit card of the policy bank.
There will be different limit for different cards
According to the report, Kotak Mahindra Bank has set different limits to buy fuel on its different credit cards. Let us tell you that in today’s time, most card holders use credit cards to buy fuel and fuel expenses are an important part of monthly expenses for many customers. This new fee policy of Kotak Mahindra Bank aims to control the excessive use of cards for purchase of fuel. Actually, customers purchase fuel from the card for cashback and reward points.
There will be a limit of Rs 50,000 for these cards of Kotak
This new fee of Kotak Mahindra Bank will not apply to White Reserve Credit Card, Kotak Solitaire, Kotak Infinit, Kotak Signature, IndianOil Kotak Credit Card and Mantra Kotak Credit Card. Whereas after crossing the limit in billing cycle from all other credit card users, fees will be recovered. The limit is Rs 50,000 for White Signature, Privy League Signature and Kotak Indigo 6E XL Rewards Credit Card.
Limit of Rs 35,000 has been fixed for these cards
In addition, this limit has been fixed at Rs 35,000 for cards such as Mojo Platinum, Jane Signature, Royal Kotak Signature, PVR INOX, 6 E. Rewards IndiGo Kotak Credit Card, Kotak Biz and NRI Royal Signature.
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