Kotak Bank – Essentia Platinum credit card offers 10% discount on Groceries and free PVR tickets
Kotak Essentia Platinum Credit Card Benefits
- Joining Benefits
- Apply and get 2 BookMyShow vouchers on your 1st swipe (worth Rs 400)
- Benefits
- 10% Savings on Departmental & Grocery Store spends (max Savings per month = 500 points i.e. max spend Rs 5000)
- Essentia gives you 10 Saving Points for every Rs. 100 you spend at Departmental & Grocery Stores (1 Saving point = Rs 1). Transaction should be between Rs 1500 – Rs 4000.
- Lounge Access (Domestic): No Benefit on this card
- Movie Tickets:
- Spend Rs. 1, 25,000 every 6 months and get 6 free PVR tickets Or 1200 Reward Points (worth Rs 2400)
- Restaurant Offers:
- NA
- Fuel:
- NA
Rewards Collection
- Earn 10 Saving Point for Departmental & Grocery Store spends (10% cashback)
- Earn 1 Saving Point for every Rs. 250 you spend on other categories
- Milestone: Spend Rs. 1, 25,000 every 6 months and get 6 free PVR tickets Or 1200 Reward Points
Rewards Redemption
- Reward points can be used for a host of redemption options like Airtickets, Airmiles, Movie Tickets, Mobile Recharge / Branded Merchandise
- 1 Saving Point = 2 EasyPoints (that can be redeemed against Airline tickets / Merchandise / Mobile recharge)
Kotak Essentia Platinum Credit Card Fees
- Joining fees: Rs 1499
- Annual Fee: Rs 749 (waived on annual spend of Rs 50000)
Benefits Example
| Spend | Offer | Monthly Spend | Annual Spend | Benefit (Annual) | Reward % |
| Departmental and Grocery | 10% Benefit | 5000 | 60000 | 12000 | 20% |
| Other Spend | Rs 1 per Rs 250 spend | 16000 | 192000 | 1536 | 1% |
| Milestone Benefit (Conditional) | 12 PVR tickets on spending 1,25,000 every 6 months | 3600 | 1.4% | ||
| TOTAL Saving | 21000 | 252000 | 17136 | 6.8% | |
| Annual Fees | -749 | ||||
| Net Saving | 16387 | ||||
| Reward / Cashback % | 6.50% |
Above Saving is on the assumption that you will convert the reward points to EasyPoint and redeeem for Airtickets, Airmiles, Movie Tickets, Mobile Recharge / Branded Merchandise (1 reward point = 2 Easypoint)
Condition: To get full benefit, the minimum spend required is Rs 250000 per annum
How to Apply – You can apply online at Kotak Bank website
- Primary credit cardholder should be in the age bracket of 21 – 65 years. Add-on credit cardholder should be 18 years or above
- Card is available only in the following locations – Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai, Navi Mumbai and Pune
Summary
This credit card is beneficial as it offers 10% cashback on Groceries spend as well as free PVR tickets. Based on the benefit example above, it can give you approx 6.5% worth of rewards.