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Kotak Mahindra Bank · researched credit card

Kotak Cashback+ Credit Card

A ₹750 cashback card offering 5% on selected online categories, 3% on eligible fuel and 0.5% on other eligible spends, with a ₹500 billing-cycle cap on accelerated cashback.

First-party evidenceActiveReviewed September 9, 2026
Cashback Credit CardsOnline Shopping Credit CardsGrocery Credit CardsEntertainment Credit CardsFuel Credit Cards
Open official issuer sourceIssuer dossier
Annual fee₹750 + applicable taxes
Joining fee₹750 + applicable taxes
NetworkSee current issued network
Last reviewedSeptember 9, 2026
Research processPublished by bankingreference.info

Structured from first-party bank/issuer evidence. This page does not claim personal hands-on product use unless that experience is explicitly stated.

4 first-party sources
Last checkedSeptember 9, 2026

Recorded source review date, not a claim that the product changed that day.

Maintenance stateWithin scheduled review window

Target recheck: October 24, 2026.

Decision brief

Start with fit before chasing headline benefits.

The card may be attractive for a specific use case while still being a poor fit once fees, spending thresholds, exclusions or travel conditions are considered.

Potential fit

Moderate spenders whose online grocery, food-delivery, entertainment and fuel spending fits comfortably inside the accelerated cashback cap.

Before you apply
  • The ₹500 accelerated cashback cap materially limits headline returns at higher spend.
  • Cashback depends on merchant category coding and exclusions.
  • The standard 3.5% forex markup makes it a weak choice for international spending.
Four critical factors

Read these four fields before anything else.

They usually determine whether the card's published proposition survives contact with your actual spending and travel pattern.

Reward model5% cashback on eligible online food delivery, grocery and entertainment; 3% on eligible fuel; 0.5% on other eligible spends. Accelerated cashback is capped at ₹500 per billing cycle under the reviewed T&Cs
Fee waiverAnnual fee waived at ₹2 lakh eligible retail spends per annum under the reviewed KFS
Lounge accessNot positioned as a lounge-led card in the reviewed issuer material
Forex markup3.5% under the reviewed Kotak MITC's standard foreign-currency markup for cards without a special lower rate
Published terms

Exact decision fields from the maintained profile.

These fields preserve source wording and conditions rather than reducing the card to a single score.

Joining fee₹750 + applicable taxes
Annual fee₹750 + applicable taxes
Fee waiverAnnual fee waived at ₹2 lakh eligible retail spends per annum under the reviewed KFS
Rewards5% cashback on eligible online food delivery, grocery and entertainment; 3% on eligible fuel; 0.5% on other eligible spends. Accelerated cashback is capped at ₹500 per billing cycle under the reviewed T&Cs
NetworkSee current issued network
Lounge accessNot positioned as a lounge-led card in the reviewed issuer material
Forex markup3.5% under the reviewed Kotak MITC's standard foreign-currency markup for cards without a special lower rate
Value interpretation

Separate published mechanics from personal value.

The same card can produce very different value depending on where you spend, whether you hit thresholds and whether caps or exclusions matter.

Annual-cost test

Treat the annual fee as a cost that must be recovered from benefits you would have used anyway.

Reward-value test

Cashback is easier to value than points, but caps and excluded merchant categories can materially reduce the headline rate.

Travel-benefit test

Travel perks are not the central reason to choose this card; compare the primary earning categories first.

Approval reality

Published eligibility is not a promise of approval. Issuers can apply internal underwriting, documentation and credit-limit policies.

Reward-value calculatorModel an effective reward rate and cap.→Annual-fee break-evenEstimate the eligible spend needed to recover the fee.→Forex-cost calculatorEstimate markup and GST on overseas spend.→
Decision checklist

Five questions to answer before applying.

These questions turn the researched terms into a personal decision without estimating approval odds.

Annual-cost question

Would you pay the stated annual fee if you did not hit the waiver?

₹750 + applicable taxes · Annual fee waived at ₹2 lakh eligible retail spends per annum under the reviewed KFS

Earning question

Does your normal spending actually fall into the card’s rewarded categories?

5% cashback on eligible online food delivery, grocery and entertainment; 3% on eligible fuel; 0.5% on other eligible spends. Accelerated cashback is capped at ₹500 per billing cycle under the reviewed T&Cs

Travel question

Are the lounge and international-use terms useful for your real travel pattern?

Not positioned as a lounge-led card in the reviewed issuer material · 3.5% under the reviewed Kotak MITC's standard foreign-currency markup for cards without a special lower rate

Complexity question

Can you realistically track the caps, channels and exclusions behind the headline benefit?

The ₹500 accelerated cashback cap materially limits headline returns at higher spend. Cashback depends on merchant category coding and exclusions.

Eligibility question

Does the application route fit your profile without assuming approval?

Subject to Kotak Mahindra Bank underwriting and current application criteria

Eligibility & underwriting

Published eligibility is not an approval prediction.

Income, bureau history, geography, documentation, existing relationship and the issuer's internal underwriting can all change the outcome.

Published eligibility

Subject to Kotak Mahindra Bank underwriting and current application criteria

Maintained comparisons

Compare this card against exact researched alternatives.

Pairs are curated only where the engine has enough decision value to justify a maintained comparison page.

Browse all maintained card comparisons →
Research next

Alternatives without pretending one card is universally better.

These routes help you inspect related cards, the same issuer's portfolio and—where mapped—the wider bank relationship.

First-party evidence ledger

Verify the card against the documents behind the profile.

Source links, reviewed fields and unresolved verification gaps remain visible. Research freshness is not a guarantee that the issuer has not changed terms after the stated review date.

Evidence statefirst party verified
ReviewedSeptember 9, 2026
Issuer documents4
Terms confirmed in the profile
Joining feeAnnual feeFee waiverRewardsLoungeForexEligibilityStatus
Issuer evidenceDocument typeOpen
Primary sourceKey Fact StatementView ↗
Supporting source 2Issuer documentView ↗
Supporting source 3Issuer product pageView ↗
Supporting source 4Fee / charge scheduleView ↗

Verification means these published terms were checked against the linked first-party issuer material on the review date. It does not mean the issuer guarantees approval, a credit limit or that terms cannot change later.