When it comes to personal finance, credit cards have evolved into more than just a metallic card. They act as the gateway to financial freedom. These cards are just more than the payment tools, they provide benefits like rewards, convenience, financial flexibility, etc. However, these cards often come with the charges of annual fees, which can be a burden on the finances. In this article, we’ll explore the Best credit cards in India with no annual fee.
Whether you’re a regular credit card holder or someone seeking to consider their first credit card, this guide will help you to get an insight into it. As it’ll offer a range of options about financial cards with no added cost.
No Annual Fee Credit Cards: An Overview
The term ‘No Annual fee credit card’ is the same as its name sounds, credit cards that do not require you to pay any annual charges for its use. This means that you can enjoy the benefits of plastic money, without paying any yearly fees to use them. However, this kind of fee for the credit card will be paid as part of the credit card bill which will be charged once a year.
|FinBooster: Yes Bank Credit Card||Allows 30% credit limit|
|RBL Bank BankBazaar Save Max Credit Card||Converts all spending into EMIs over Rs.2,500.|
|Kotak Bank Fortune Gold Credit Card||Provides 0% interest on balance transfer.|
|AU LIT Credit Card||Customize your card according to your needs and preferences.|
|HSBC Visa Platinum Credit Card||A major 15% discount of dining|
|IDFC First Select Credit Card||For the first 90 days, get gift vouchers of Rs.500 on spending Rs.15,000.|
|Bank Of Baroda Prime Credit Card||Suitable for the ones who look for cashback on daily purchases.|
|Shoppers Stop HDFC Bank Credit Card||Earn 2,000 first citizen points when spent Rs.2 lakh every year.|
Note: This table describes the list of best credit cards in India with no annual fee. This list doesn’t represent any kind of ranking. Each credit card has its own alluring feature and which one is best can be decided based on your requirements.
The feature of charging no annual fees makes it undoubtedly effective and appealing to many of us. It opens the door of financial freedom for every credit card holder.
Benefits of using these cards include –
- No annual fee credit cards are a budget conscious choice, offering cost effective convenience.
- No annual fee credit cards have either the 0% introductory interest rate or typically low interest rate.
- These no annual fee credit cards often come equipped with rewards and allows users to earn cashback, points, on their purchase.
- These cards are easy to approve, as it requires a low credit score. More accessible to people who may not have a good credit score.
- These cards also provide additional benefits like loyalty packages, lounge bookings, travel insurance, and more.
Let’s get started with the discussion of Best credit cards in India with no annual fee!
(A) FinBooster: Yes Bank Credit Card
This credit card is considered as one of the best credit cards in India with no annual fee. This card helps you to build a good credit score. It also maintains the regular credit fitness reports that briefs you about your financial scores. This card comes with no joining and renewal fee.
It do offers an array of benefits and features like-
- Points on the credit card do not expire and there is no cap marked on the reward points.
- Get exclusive reward points on the credit card on sharing it with your friends and family.
- Get an insight on how to improve your credit score.
- Provides accidental death insurance of over Rs.2.5 Lakhs to the primary card holder.
- Provides monthly reports of the credit scores.
- Using this card provides rewards on online dining, grocery, and apparel shopping.
- Provides reward points of around 5x on online dining, get two reward points for every purchase you make of Rs.200, except for fuel expenses. Also earn 3x points on online grocery and apparel purchases.
Fees and Charges of FinBooster credit card
|Cash advance limit||Around 30% of the credit limit|
|Free period||Around 50 days|
|Add on card charges||NIL (maximum 3 add-on cards can be issued)|
|Overlimit fee||Rs.500 or 2.5% of overlimit amount (whichever among the two is higher)|
|Cash advancement fee||Rs.300 or 2.5% of withdrawn amount (whichever is higher)|
Note: Have you heard about Smart credit cards, which has made payment and transactions easy and convenient. To know more about these credit cards, do visit our article What is a smart credit card?
(B) RBL Bank BankBazaar SaveMax Credit Card
Another one on the list of best credit cards in India with no annual fee in the list. This card is termed as the lifetime free credit card that comes with a wide range of benefits and features. This card offers attractive and appealing cashbacks and rewards. This card will help you out on tracking your spending behavior and credit scores. This card also comes with no charges of joining and renewal.
Key features and benefits –
- This card is considered suitable for those who are always looking for exciting rewards and cashback.
- Provides users with the option of contactless payments in retail outlets upto Rs.5000.
- Also converts all spending into EMIs over Rs.2,500.
- Comes with a 10% cashback (around Rs.100 every month) when used for BookMyShow and Zomato platform.
- By using EMI infinity pas, users can get a 100% discount on the split and pay fee option.
- Earn around 5x points on grocery purchases.
- Also earn 1 reward point for every 100 spent on other categories purchases.
How to make payments with this card
Payments can be made via different modes through this card-
- Net Banking
- Debit Cards
- UPI payments
- NEFT (National Electronic Funds Transfer)
(C) Kotak Bank Fortune Gold Credit Card
Kotak Mahindra Bank, one of India’s leading private sector banks, offers a wide range of cards that are convenient and suitable for its customers needs. Offers cards in various domains like Lifestyle, Dining/Entertainment, Shopping, etc.
This Kotak Bank Fortune Gold credit card helps you save your money and charges on some specific transactions.
Key benefits of this card
- Offers a wide range of benefits on high cash limit, fuel charges, and movie tickets.
- Provides 0% on balance transfer and no annual fees.
- The cash withdrawal interest is free upto 48 days.
- For Rs.10,000 withdrawn as a cashfee, you just have to pay Rs.199.
- By spending around Rs.1.5 lakh in a year get 4 PVR tickets free or a cashback of Rs.750.
- Provides a higher cash limit upto 50%.
- Charges only 1% of fuel surcharge waiver on fuel transactions ranging from Rs.500-Rs.3,000.
Fees and charges of card
|Add-on card charges||Rs.299 per card|
|Cash withdrawal fee||For every Rs.10,000 withdrawal Rs.199 is charged|
(D) AU LIT Credit Card
This card comes with the customization feature. One of the best in the list of best credit cards in India with no annual fee. You can customize your card according to your needs. Card powered by AU bank. You can change or switch your card features according to your convenience and preferences. Provides high reward points.
Key features and benefits of the card
- Customize your card according to your needs and preferences.
- Enjoy high reward points like 10x and 5x on your all online domestic as well as international retail transactions.
- Enjoy the same reward points 5x and 10x on domestic and international transactions.
- For every Rs.100 spent, enjoy a 5% cashback for retail transactions along with one reward point every time.
- Within a period of 90 days, enjoy a 5% cashback three times.
- Provides 1% fuel surcharge waiver on fuel transactions done between Rs.400 to Rs.5,000.
- Another prominent feature of this card is access to airport lounges four times per quarter.
(E) HSBC Visa Platinum Credit Card
This platinum card comes equipped with offering benefits in categories like lifestyle, shopping, fuel, dining, etc. This card comes with always updating features, exclusive privileges, and instant recognition. Offers exciting offers on introduction.
Key features and benefits
- Provides vouchers of Amazon of Rs.500 and Swiggy of Rs.250.
- Get access to 3 airport lounges both at international and domestic level.
- Suitable for the ones who love to spend their credit card regularly on things like, dining, and other daily day-to-day expenses.
- Get 2x reward points for every Rs.150 spent on this card.
- For the transactions between Rs.400 and Rs.4000, the fuel surcharge is waived off upto Rs.250 per annum.
- Get movie vouchers of Rs.3000 per year.
- A major 15% discount of dining at restaurants partnered across major Indian cities.
- Purchases can be converted into EMIs within 15 days of transactions, minimum value for converting into EMIs is Rs.2000.
- This card can be used at around 18 million outlets in India and around over I lakh locations globally.
(F) IDFC First Select Credit Card
A card with high rewards and zero annual fee. This card comes organized with the features that are made according to lifestyle and spending habits of the users. Card provides reward points that will never expire. Not only the joining and renewal fee is NIL but also the reward redemption fee is NIL.
Key features and benefits
- For the first 90 days, get gift vouchers of Rs.500 on spending Rs.15,000.
- 3x reward points on offline purchases.
- 6x reward points on online purchases.
- Special reward points on birthday spends, get upto 10x reward points.
- Get access to 4 per quarter airport lounges and railway lounges.
- Charges low foreign exchange mark up fee at 1.99%.
- This card is most suitable for travelers and frequent shoppers.
- When you purchase a ticket get another ticket free with it of Rs.250 twice in a year.
- Get 20% off at over 1500 restaurants.
(G) Bank of Baroda Prime Credit Card
A card that comes with a pile of benefits for its users. This card allows you to redeem rewards points against cash credits. It comes with the additional feature for the Bank of Baroda customers, that they’ll enjoy an insurance of over Rs.15,000 or more than that without showing any income proof.
Benefits and features of the card
- Provides multiple options to retrieve reward points as cashback.
- Fuel surcharges are zero.
- Insurance guaranteed against a fixed deposit of Rs.15,000 or above it.
- Easy EMIs transactions are available above Rs,2,500.
- Suitable for the ones who look for cashback on daily purchases.
- Get 3 lifetime add on credit cards for family.
- Will not have to pay a single penny if reported immediately to the bank about the loss of the card.
- Provides 50 days of interest free credit from the date of card issuing.
(H) Shoppers Stop HDFC Bank Credit Card
A lifetime free credit card. After issuing the card, while using at the Shoppers stop outlets you’ll earn first citizen points and also get a free shoppers stop membership. Recommended for those who do shopping on a daily basis. Here too, the joining and renewal fee is NIL.
Features and Benefits of the card
- Get a voucher of Rs.500.
- Earn 1% fuel surcharges when this card is used to purchase fuel at any fuel station in India.
- Earn 2,000 first citizen points when Rs.2 lakh is spent every year.
- Charges 3.5% for foreign currency mark-up fee.
- When shop at Shoppers stop private label brands, you’ll earn 6 first citizen points.
- Get 2 first citizen points on other spends at shoppers stop brands.
Credit cards which come with no annual fees are a great and a good way to make use of the benefits of plastic money without any added cost. The above top picks of best credit cards in India with no annual fee offer various features and services along with the rewards that cater to diversified customer base.
Make sure to select a card that matches your spending behavior and financial quotient, so that you can affordably use the card. Before applying for any no annual fee credit card, do look at these best credit cards in India with no annual fee picks, that’ll help you out in making a good choice of the credit card.