Private sector lender, Kotak Mahindra Bank has introduced a new credit card in its kitty, namely the Kotak NRI Credit Card.

The card would be applicable against term deposits of Rs 1 lakh or more. Credit limit in such cases can be as high as 80% of the term deposits.

Features associated with the card include four times reward points on international purchases, fuel surcharge waiver, choice on redemption of reward points and no charge EMI for three months.

The card would also bring the facility of allowing the customer to purchase and pay in rupees. When travelling in India, card holders can shop in Indian rupees using this card.

The bank has recently opened a new branch in Kozhikode to increase its branch network in the country.