Priority Pass
Kotak Mahindra Bank
Air+
The Kotak Air+ is a dedicated travel card designed for high-frequency flyers, offering an impressive 5% reward rate (5 Air Miles per ₹100) on bookings via Kotak Unbox. With a low 2% forex markup and an annual 2,500-mile bonus that offsets the fee, it’s a streamlined tool for travelers who prefer direct mile-to-rupee redemptions.
Direct link to the issuer's website. Terms apply — verify current offer with the bank.
Data last updated 1 June 2026.
At a Glance
Annual Fee
₹3,000
Joining Fee
₹3,000
Fee Waiver
Spend ₹4,00,000 annually
Lounge Access
See details
Forex Markup
2%
Effective Yield
2% – 5%
Our Take
The Kotak Air+ is a dedicated travel card designed for high-frequency flyers, offering an impressive 5% reward rate (5 Air Miles per ₹100) on bookings via Kotak Unbox. With a low 2% forex markup and an annual 2,500-mile bonus that offsets the fee, it’s a streamlined tool for travelers who prefer direct mile-to-rupee redemptions.A 2026 update makes the Air+ a serious competitor for the Axis Atlas in the mid-premium space. While it lacks a spend-based fee waiver, its 1:1 redemption ratio (1 Air Mile = ₹1) for flights and hotels via Kotak Unbox provides a transparent, high-value exit for points. Unbiased reviewers should note that accelerated rewards are capped at 15,000 miles monthly, after which you revert to the 2% base rate. While it offers 4 domestic and 2 international lounge visits, the absence of rewards on international spends remains its biggest "con"—limiting its utility strictly to domestic-heavy spenders and rupee-denominated travel.
Pros
- High-Yield 'Unbox' Rewards: Earns 5 Air Miles for every ₹100 spent on flight and hotel bookings through the Kotak Unbox portal. With 1 Air Mile = ₹1 for travel bookings, this is a direct 5% value-back, outperforming the base travel rates of many mid-premium competitors.
- Superior 2% Base Rate: Offers a baseline reward rate of 2 Air Miles per ₹100 (2% value-back) on almost all other retail spends. This is significantly higher than the 1.25%–1.5% usually found on cards in the ₹5,000 fee bracket.
- Competitive 2% Forex Markup: At 2% + GST, it undercuts the standard 3.5% markup found on most Axis and SBI travel cards. For international travelers who prefer to swipe their primary card rather than a neo-bank alternative, this is a major cost-saver.
- Stable Airline Transfer Ratios: Maintains a 2:1 transfer ratio to key partners like Accor Live Limitless and various international airlines. While not 1:1, the high 'base' earning rate means you accumulate miles faster than on cards with a 1% base rate.
- Guaranteed Renewal Bonus: Every year, upon payment of the annual fee, you receive 2,500 Air Miles (worth ₹2,500). This effectively brings the 'net cost' of the ₹4,999 fee down to ~₹2,500, making it much easier to justify for moderate spenders.
Cons
- The 2026 Lounge Spend Trap: As of April 2026, complimentary domestic lounge access is no longer 'free.' You must spend at least ₹60,000 in the previous calendar quarter to unlock just 2 visits per quarter. If you miss the spend target, you lose the benefit entirely.
- Platform Redemption Ceiling: While points are worth ₹1 on Kotak Unbox, the bank enforces a rule where you can only pay for up to 80% of a booking using miles. The remaining 20% must be paid in cash, preventing a 'truly free' vacation.
- Punitive 'Dead' Category List: As of March 2026, Kotak has expanded its exclusion list. No Air Miles are earned on Utilities, Telecom, Insurance, Education, Government, Rent, Fuel, or Wallet loads. These categories also do not count toward any internal spend targets.
- Low 'Voucher' Value: If you don't use your miles for travel and instead opt for 'Instant Vouchers' (Amazon, etc.), the value of 1 Air Mile drops from ₹1 to a poor ₹0.50. This card is strictly a 'Travel-Only' tool for value-conscious users.
- Accelerated Reward Capping: The 5X miles on Kotak Unbox are capped at 15,000 Air Miles per statement cycle. For ultra-luxury travelers booking ₹5 Lakh+ international holidays in one go, the reward rate will drop to the base 2% once this limit is hit.
Earning & Redemption
How You Earn
| Category | Reward rate | Yield % | Cap |
|---|---|---|---|
| Travel Spends (via Kotak Unbox) | 5 Air Miles per ₹100 | 5.00% | 15,000 accelerated miles per cycle |
| All Other Domestic Retail Spends | 2 Air Miles per ₹100 | 2.00% | No Upper Cap |
| International Spends | No Air Miles | 0.00% | — |
| Excluded Categories | No Air Miles | 0.0% | — |
Milestone Rewards
| Spend | Benefit | Value | Summary |
|---|---|---|---|
| ₹0 Lakh | Renewal Bonus2,500 pts | ₹2,500 (Travel Value) | Awarded annually upon payment of renewal fee (offsets 83% of the fee). |
Redemption Value
| Channel | Value per point | Verdict |
|---|---|---|
| Kotak Unbox (Flights/Hotels) | ₹1.00 per mile1:1 Ratio | Best Value (Covers up to 80% of booking amount) |
| Air India (Maharaja Club) | ₹0.50 per mile2:1 Ratio | Good for status/Star Alliance bookings |
| Partner Transfer (Other Airlines) | ₹0.50 per mile2:1 Ratio | Includes Flying Blue, Qatar, British Airways & Marriott |
| Instant Vouchers | ₹0.50 per mile2:1 Ratio | Avoid (Halves the value of your earned miles) |
What You Need to Know
The International Trap
Unlike almost all other premium cards, this card earns 0 reward points on international spends.
Impact: Makes the card unsuitable for international travelers despite the low 2% forex fee.
Lounge Spend Criteria
Domestic lounge access is unlocked only if you spend ₹60,000 in the previous quarter.
Impact: Irregular spenders will find themselves paying for lounge entry at the airport.
Essential Fine Print
Reward Exclusions
Excluded Categories: Fuel transactions, Wallet loading, and Rent payments do not earn 6E Rewards.
Welcome Offer
Welcome Benefits
Earn 2,500 Air Miles as Welcome Benefit
Lounge Access
Priority PassDomestic Lounge Access
4 Complimentary Domestic lounge access annually (Primary Cardholders - capped at 2 Lounges per calendar quarter). Note: cardholders need to spend a minimum of ₹60,000 in a calendar quarter to be eligible to avail complimentary access to domestic lounges in the next quarter.
International Lounge Access
2 Complimentary International lounge access annually (Primary Cardholders)
Travel Benefits
Accelerated Earnings on Travel Spends
Earn 5 Air Miles for every ₹100 spent on Flight & Hotel Booking through Kotak Unbox
Milestone Benefits
Annual Completion Benefit
Earn 2,500 Air Miles as Renewal Benefit on completion of each anniversary year.
Annual Fee Waiver
On eligible spends of ₹4 Lakhs and above.
Fees & Charges
| Fee Type | Amount / Details |
|---|---|
| Joining Fee | ₹3,000 |
| Annual / Renewal Fee | ₹3,000 |
| Fee Waiver Threshold | Spend ₹4,00,000 annually |
| Forex Markup | 2% |
| Fuel Surcharge Waiver | 1% surcharge |
Eligibility Criteria
Age
Age between 21-60 years
Income
Must have a steady, verifiable income.
Ready to apply for Air+?
Annual fee: ₹3,000 · Waived on ₹4,00,000 spend
Annual fee
₹3,000
2% – 5% yield