Kotak Lifetime Free (No Annual Fee) Credit Cards in India 2026

Fixed deposit based card – no income proof required || instant approval card 
– Credit card is issued against your fixed deposit, for customers between 18 years and 75 years of age.
– Income documents not required, since the card is issued against the security of your fixed deposit.
– For Non-811 saving account customers: minimum fixed deposit amount is ₹10,000.
– For 811 saving account customers: minimum fixed deposit amount is ₹ 5,555.

Lifetime free credit card, welcome offer worth ₹125
– There is no annual fee on this card.
– Welcome offer of 500 bonus reward points worth ₹125, when you spend a minimum of ₹5000 within 45 days of activating your card.

Flexible credit limit, upto 80% of fixed deposit amount 
– You can choose a credit limit of your preference, upto 80% of fixed deposit amount (maximum ₹16 lakhs)

0.50% benefit on online spends 
– You earn 2 reward points worth ₹0.50 (50 paise), on every ₹100 you spend on online purchases.
– 1 reward point = ₹0.25 (25 paise), and can be redeemed on Kotak’s reward redemption platform (kotakrewards.com) for vouchers, products and more.

0.25% benefit on all other spends 
– You earn 1 points worth ₹0.25 (25 paise), on every ₹100 you spend on all other spends.
– 1 reward point = ₹0.25 (25 paise), and can be redeemed on Kotak’s reward redemption platform (kotakrewards.com) for vouchers, products and more.
– Exceptions : No reward points are given on fuel spends, railway spends, cash withdrawals.

Milestone benefit – additional benefit of upto 1%, on achieving yearly card spend of ₹75,000
On achieving yearly card spend target of ₹75,000, you get either –
– Cashback of ₹750/- OR
– 4 free PVR tickets (any day and any show, and can be redeemed online at www.pvrcinemas.com)

1.8% – 2.5% surcharge waiver on railway ticket bookings, upto ₹500 per year
– 1.8% for transactions made on the IRCTC website
– 2.5% for transactions made at Indian railway booking counters
– Maximum waiver of ₹500 per year

1% fuel surcharge waiver at all fuel stations, upto ₹3500 per year
– Only on fuel transactions ranging between ₹500 and ₹3000, and
– Only on fuel purchases upto ₹3.50 lakhs per year, since waiver is capped at ₹3,500 per year

Interest-free cash withdrawal 
– You can withdraw cash up to 90% of your total credit card limit
– No interest is charged on cash withdrawals (unlike most other credit cards).
– A processing fee of ₹300 is charged per ₹10,000 withdrawn, hence ideally one should withdraw cash only in an emergency

Benefits
– The card is lifetime free.
– It is issued against a fixed deposit, no income documents are required. Hence it is ideal for students, housewives, gig workers etc.
– In addition to fuel surcharge waiver, cardholders also get railway surcharge waivers ranging between 1.8% (on the IRCTC website) and 2.5% (on Indian railway booking counters).

Drawbacks to consider
– Benefits on beginner fixed-deposit based cards can be lower than other credit cards.