Kotak Mahindra Essentia Platinum Card: Top Cashback Rate for Groceries

Kotak Mahindra Essentia Platinum Card: Top Cashback Rate for Groceries

The Best Cashback Credit Card for Groceries

Good for

  • Families
  • Shoppers
  • High spenders

Bad for

  • Students
  • Consumers looking for a general spending card
  • People living outside the major cities listed

Editor's Rating

4.0/5.0

The Kotak Mahindra Essentia Platinum Card is the best cashback option for groceries and a top choice for retail spending. For instance, the card earns 10% cashback on both categories (10 Saving Points per Rs. 100 spent; 1 point = Rs. 1), the highest in our review. When looking at general spending, the card earns a below average 0.40% rewards rate (1 Saving Points per Rs. 250 spent), making it only attractive for consumers seeking a card to use primarily for grocery and retail spends.

ProsCons
  • 10% cashback on grocery and retail spending
  • General spending rewards rate: 0.40%
  • Joining fee of Rs. 1,499
  • Annual fee of Rs. 749
Promotions:
  • Spend ₹ 125,000 every 6 months and get 1200 points (Up to 2400 points per year) OR Spend ₹ 125,000 every 6 months and get 6 free PVR tickets (max 12 per year)
Card Overview
Pros:
  • 10% cashback on grocery and retail spending
Cons:
  • General spending rewards rate: 0.40%
  • Joining fee of Rs. 1,499
  • Annual fee of Rs. 749
Promotions:
  • Spend ₹ 125,000 every 6 months and get 1200 points (Up to 2400 points per year) OR Spend ₹ 125,000 every 6 months and get 6 free PVR tickets (max 12 per year)

What Makes Kotak Mahindra Essentia Card Stand Out?

The Kotak Mahindra Essentia Platinum Card offers the highest rates for groceries spending. The card also offers competitive rates for retail spending. For instance, the card earns a great 10% cashback (10 Saving Points per Rs. 100 spent; 1 point = Rs. 1) on both grocery and retail —the highest for these spending categories. The card's restrictions include a minimum payment requirement of Rs. 1,500 and points are capped at 500 monthly across total grocery and retail spending. Only available to consumers in the following locations: Ahmedabad, Bangalore, Chandigarh, Chennai, Delhi (Gurgaon & Noida), Hyderabad, Kolkata, Mumbai, Navi Mumbai and Pune. In terms of a general rewards rate, the card earns a below average 0.40% (1 Saving Points per Rs. 250 spent). As a result, this card is best suited for grocery and retail spending, rather than for general use.

Kotak Mahindra Essentia Promotions

Promotions:
  • Spend ₹ 125,000 every 6 months and get 1200 points (Up to 2400 points per year) OR Spend ₹ 125,000 every 6 months and get 6 free PVR tickets (max 12 per year)

The Kotak Mahindra Essentia Platinum card offers a great promotion as shown in the table, which gives cardholders and opportunity to earn increased rewards. Through this, high spenders can help offset the Rs. 500 monthly cap on groceries and shopping.

How Does the Kotak Mahindra Essentia’s Rewards Programme Work?

The Kotak Mahindra Essentia Platinum rewards program is a points based program that has a redemption of 1 point = Rs. 1. This is why we also consider it as a cashback credit card. The card earns 10 points per Rs. 100 spent on both groceries and retail with a maximum cap of Rs. 500. On general spending, the card earns 1 point per Rs. 250 spent. The redemption for all of these rates is 1 point = Rs. 1. Points expire 2 years after accrual.

  • 10 points per Rs. 100 spent on both groceries and retail with a maximum cap of Rs. 500
  • 1 point per Rs. 250 spent on general spending
  • Redemption rate: 1 point = Rs. 1
  • Points expire 2 years after accrual

Kotak Mahindra Essentia Credit Card's Features and Benefits:

Card Overview
  • Joining Fee: 1,499
  • Annual Fee: 749
  • Income Requirement: None listed by issuer
  • Age Requirement: 21-65
Rewards Rate Details
  • 10% cashback on grocery and retail spending
  • 0.40% on general spending rewards rate
Promotions:
  • Spend ₹ 125,000 every 6 months and get 1200 points (Up to 2400 points per year) OR Spend ₹ 125,000 every 6 months and get 6 free PVR tickets (max 12 per year)

How Does the Kotak Mahindra Essentia Credit Card Compare Against Other Cards?

Graph showing India’s Best Grocery Cards for Consumers Spending approximately Rs. 47,000 per month

Kotak Mahindra Essentia Card vs. SBI Card Prime

Consider this if you are interested in the best credit card for utility bill payments

Age Requirement None listed by issuer
Annual Income Requirement None listed by issuer

The SBI Card PRIME is a great option to use when paying your utility bills. For instance, the card earns a 5% rewards rate (20 points per Rs. 100 spent; 4 points = Rs. 1) on utility bill payments, the highest rewards for utility bill payments. The card also earns 2.50% (10 points per Rs. 100 spent) on general dining, groceries, department stores and movie spends. These rates are competitive for their categories, but are significantly lower than the 10% cashback offered by the Essentia Card for retail and grocery spends. Therefore, we would recommend the Prime Card for anyone seeking a card for paying utility bills and the Essentia Card for those looking for a card to use on groceries and retail.

Kotak Mahindra Essentia Card vs. Kotak Mahindra Delight Platinum Card

Consider this if you are interested in a card that offers the best dining and movies cashback

Age Requirement 21-65
Annual Income Requirement None listed by issuer

The Kotak Delight Platinum Card is an excellent option for consumers interested in the best cashback rates on dining and movies. The card provides cardholders with a 10% cashback on dining and movie spending with a maximum Rs. 600 cashback per month. However, to receive the 10% cashback rate you must spend Rs. 10,000 on categories that are not dining or movies per month. The card is best for high spenders that can reach that limit. This is different than the Essentia Card, which offers 10%, as the essentia does not have a minimum spending requirement. As a result, we recommend the Delight Card to high spenders interested in cashback on dining and movie spending, whereas we would direct consumers seek a card specifically for grocery or retail spending towards the Essentia Card.

Kotak Mahindra Essentia Card vs. SimplyCLICK SBI Card

Consider this if you are tend to do most of your shopping online, preferably Amazon

Age Requirement None listed by issuer
Annual Income Requirement None listed by issuer

The SimplyCLICK SBI Card is a great online shopping credit card that offers elevated rewards on specific retailers. The SimplyCLICK Card offers a solid 2.50% rewards rate (10 points per Rs. 100 spent, 4 points = Rs. 1) on Amazon, Cleartrip, Foodpanda and BookMyShow, Lenskart and UrbanClap, making it valuable for avid shoppers that visit these sites often. Further, the card earns 1.25% (5 points per Rs. 100, 4 points = Rs. 1) on all online spending. When looking specifically at the grocery and retail categories, the card does not offer any elevated rates, whereas the Essentia Card offers an excellent 10% cashback on both categories. Both cards also have low general spending rates. Due to these rewards, we recommend the SimplyCLICK Card to consumers looking for an option to use specifically for online spending; however, we recommend the Essentia Card for those who spend a lot on groceries and retail expenses.