Kotak Veer Select Credit Card Settlement

A Guide for Indian Defense Personnel. Facing repayment issues? Learn how to settle your dues effectively!

What is Kotak Veer Select Credit Card?

- Specially designed for Indian Armed Forces - Rewards on fuel, dining & travel - Exclusive privileges for defense personnel

Why Do People Opt for Settlement?

- Financial hardship or job transition - High outstanding dues & interest - Avoiding legal action & CIBIL impact

Steps to Settle Your Credit Card Dues

- Contact Kotak Bank’s Customer Care - Request a One-Time Settlement (OTS) offer - Negotiate for reduced payment - Get a written agreement from the bank - Pay as per the settlement terms

Impact of Settlement on CIBIL Score

- CIBIL Score drops due to "Settled" status.  - Takes time to rebuild credit history - Improve your score by paying future dues on time

Alternatives to Settlement

- EMI Conversion – Pay in installments - Balance Transfer – Shift dues to a lower-interest card - Debt Consolidation Loan – Get a personal loan to repay