Zen is a rather interesting name for a credit card. Zen refers to a state of having a peaceful and calm mind. Kotak’s Zen card seems to be inspired by this literal meaning. Leaving the rewards aside, this is one great-looking premium credit card. Here is a review of the Kotak Zen Signature credit card, its rewards, and its benefits.
Fees and Charges
| Joining Fee | Rs 1500+GST |
| Welcome Benefit | 1500 Zen Points ~Rs 375 Value |
| Joining Fee Waiver | None |
| Annual Fee | Rs 1500+GST |
| Annual Fee Waiver | Rs 1.5 Lakhs spend in an anniversary year |
Rewards
The Zen Signature card earns between 5 to 10 Zen Points points per Rs 150.
- Shopping (Apparels, Lifestyle Goods, Departmental Stores, and Jewellery): 10 Zen Points/Rs 150 ~1.6% return
- All other spends: 5 Zen Points/Rs 150 ~0.8%
- No rewards on fuel spends
Yearly Milestone Benefit
| Milestone | Bonus Zen Points | Extra Return |
|---|---|---|
| Spend Rs 3 Lakhs | 7000 | 0.6% |
| Spend Rs 6 Lakhs | 15000 | 0.6% |
- We will be eligible for only one of the milestone benefits based on total spending.
- So, someone spending Rs 6 Lakhs will get only 15000 bonus Zen Points.
As long as we spend at least Rs 3 Lakhs in a year we are looking at a total reward rate between 1.4% to 2.2%. It would have been good if the milestone benefit was at least a 1% return. That would have made this card more lucrative.
Rewards Redemption
Accumulated reward points can be redeemed on the Kotak Rewards portal. The value for each Zen reward point is 25 paise for all the options. Redemption options include:
- Domestic Flights and Hotels
- Product Catalog
- Mobile Recharge
- Gift Vouchers including Amazon and Flipkart
- Statement Credit
Complimentary Airport Lounge Access
- Airport Lounges in India: 2 complimentary visits/quarter to Dream Folks lounges in India with Visa. The list of eligible airport lounges for Kotak Zen Signature cards is available here.
- International Airport Lounges(outside India): 3 complimentary visits/year via Priority Pass
Key Benefits
- Fuel Surcharge Waiver: 1% for transactions between Rs 400 and Rs 3000. The maximum waiver is capped at Rs 3500/anniversary year.
- Railway Surcharge Waiver: Applicable for IRCTC bookings. The maximum waiver is Rs 500 per calendar year. We get 1.8% for online IRCTC bookings and 2.5% for offline bookings at railway counters.
Final Thoughts
The Zen Signature is a decent offering from Kotak Bank. Kotak needs to work a little bit on its benefits. For example, there can be a better welcome benefit that compensates for the joining fee. The milestone benefit can also offer a higher return. Right now, the Zen Signature credit card is somewhat in the middle when it comes to rewards. Neither low nor high rewards.
Kotak Zen Signature Credit Card
