Best 6 Credit Cards with No Annual Fees in India – 2024

“Credit cards are like snakes: Handle with care, and you’ll never get bitten. Act irresponsibly and be prepared for the venom.” – Robert Kiyosaki

In today’s world of high mobility, many people are using credit card.

It not only makes things easier, but it also gives you cash back, reward points, and discounts, among other things. 

However, with the numerous credit card options available on the market, choosing the right one can be overwhelming. In this case, one of the essential factors to consider while selecting a credit card is the annual fee.

Having a credit card with no annual fee can save you a lot of money, especially if you use it a fair amount. Annual fees can be anywhere from a few hundred rupees to a few thousand rupees, which can add up and raise your costs over time.

So, the criteria that can be followed to choose the best card with no annual fees are the rewards program, low-interest rates, cashback offers, ease of use, and good customer service. 

Other things to think about are the eligibility requirements, the minimum income required, and the required credit score.

In this blog, we’ll talk about the best credit cards in India that don’t charge an annual fee, their pros and cons, eligibility criteria, and the application process, as well as the other charges. 

We’ll also give you advice on how to use your credit card in a smart way and avoid getting into any hassle.

Best 6 Credit Cards with No Annual Fees in India

1. HSBC Visa Platinum Credit Card

HSBC Visa Platinum Credit Card is a popular credit card in India, offering a host of benefits and features to its users. One of the standout features of this card is that it comes with no annual fees, making it an attractive choice for those who want to save on credit card costs.

Features and benefits:

1. Zero Annual Fees
2. Fuel Surcharge Waiver: Cardholders can avail of up to Rs. 3000 savings on fuel surcharge.
3. Travel Benefits: Cardholders can avail of various travel benefits, airport lounge access, and discounts on hotel bookings.

Rewards program and cashback offers:

The rewards program allows cardholders to earn 2 reward points for every Rs. 150 spent on the card.

The card also provides 10% cashback on all expenses made using the card within the first 90 days of receiving the card.

Eligibility criteria and application process:

To be eligible for this card, applicants must meet the following criteria:

1. They must be Indian citizens or residents.
2. They must be between 18 and 65 years of age.
3. They must have a good credit score and income.

The application process for the card can be completed online by visiting the HSBC website. 

Applicants must provide their personal and financial details and submit the required documents for verification.

Other Charges:

1. Interest rate: 3.3% per month
2. Late payment fee: 50% of the minimum due amount
3. Currency conversion fee: 3.5%
4. Overlimit fee: Rs. 500

Quick Fact: HSBC bank serves approximately 39 million customers through their global businesses.

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2. Axis Bank Insta Easy credit card

Axis Bank Insta Easy credit card is designed to cater to the needs of individuals who are looking for a credit card with no annual fee and an easy application process.

Features and Benefits:

1. No annual fee
2. Easy application process: The application process for this credit card is straightforward and can be completed online.
3. Credit limit: The credit limit for this credit card is flexible depending on the eligibility criteria.
4. Interest-free credit period: The cardholders can enjoy an interest-free credit period of up to 50 days on their purchases.
5. Fuel surcharge waiver: The card offers a fuel surcharge waiver of up to 1% on fuel transactions.

Rewards Program and Cashback Offers:

1. Dining Delights: The cardholders can avail of 20% off on their first order on Zomato and a discount of Rs.100 on their first order of Rs.400 and above on Swiggy.
2. Cashback: The cardholders can earn cashback of up to 5% to 25% on their purchases made using the card on various brands such as PharmEasy, Apple, Sony, etc.

Eligibility Criteria and Application Process:

1. Age: The applicant should be between 18 to 70 years of age.

2. You are eligible for the card only if you have a fixed deposit account with Axis Bank of a minimum of Rs. 5,20,000 and a maximum of Rs.25 lakh.

Other Charges:

1. Late payment fee: Up to Rs. 700
2. Cash withdrawal fee: Up to 2.5% of the withdrawn amount.
3. Over-limit fee: Up to 3% of the over-limit amount.
4. Foreign currency transaction fee: Up to 3.5% of the transaction amount.

Trivia: In 1958, the Bank of America in California issued the first bank credit card.

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3.  Amazon Pay ICICI Bank Credit Card

Amazon Pay ICICI Bank Credit Card is a co-branded credit card offered by Amazon and ICICI Bank. It is a popular choice among customers in India due to its features and benefits.

Features and Benefits:

1. No Annual Fee
2. No Cost EMI: Get three or six months of interest-free EMI from Amazon.in.
3. Contactless Payments: The Amazon Pay ICICI Bank Credit Card comes with a contactless payment feature that allows you to make payments by simply tapping your card on the point-of-sale machine.

Rewards and cashback offers:

The card also comes with a rewards program that offers reward points for every transaction made using the card. One reward point is equivalent to one rupee in Amazon Pay which is automatically credited. 

Eligibility Criteria and Application Process:

To be eligible for the Amazon Pay ICICI Bank Credit Card, you must meet the following criteria:

1. You must be a resident of India
2. You must be at least 18 years old
3. Customers of ICICI must have a minimum annual income of Rs. 25,000; all others must have a minimum annual income of Rs. 35,000.

The application process for the Amazon Pay ICICI Bank Credit Card is simple and can be completed online. 

Other Charges:

1. Joining fees: NIL
2. Late Payment Fee: If you do not make the minimum payment on your credit card by the due date, a late payment fee of up to Rs. 1,200 will be charged.

Trivia: The ICICI Bank and Amazon introduced the Amazon Pay ICICI Credit Card in October 2018.

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4. IDFC First Millennia Credit Card

IDFC First Millennia Credit Card is a credit card designed to cater to the needs of millennials and offers various features and benefits such as rewards, cashback offers, and no annual fees.

Features and Benefits:

1. No Annual Fees
2. Welcome Offers: Cardholders can earn welcome rewards worth up to Rs. 500 upon the transaction of Rs. 15,000 done within 90 days of card issuance.
3. Fuel Surcharge Waiver: Cardholders can enjoy a waiver on the fuel surcharge of up to Rs. 300 at all fuel stations in India.

Rewards Program and Cashback Offers:

1. Rewards Program: Credit Card offers rewards points for every transaction made..Cardholders can earn 1 reward point for every Rs. 100 spent on the card.
   
   It can be redeemed against a wide range of options such as air miles, hotel bookings, and merchandise from the rewards catalog.
   
2. Cashback Offers: Cardholders can earn 5% cashback on the first EMI transaction within 90 days of issuing the card.

Eligibility Criteria and Application Process:

1. Age: The applicant should be between 21-60 years of age.

Other Charges:

1. Interest rate: The interest rate charged on the card is 0.75% and 2.99% per month.
2. Late payment charges: 15% of your due amount
3. Over Limit Fee: NIL
4. Reward Redemption fee: NIL
5. Foreign currency transaction fee: The bank charges a foreign currency transaction fee of 3.5% on all international transactions. You can also check our list of top Forex Credit Cards in India in case you are looking to travel abroad.

Quick Fact: In India, IDFC FIRST Bank is the first financial institution to introduce a 3-in-1 FASTag.

5. ICICI Platinum Chip Credit Card

ICICI Platinum Chip Credit Card is a credit card offered by ICICI Bank in India and is for those who are looking for exclusive benefits. 

Features and Benefits:

1. No annual fees
2. Fuel surcharge waiver: The card offers a fuel surcharge waiver of up to 1% on fuel purchases made at fuel stations across India at HPCL petrol pumps.
3. Easy EMI facility: Cardholders can convert their high-value purchases into easy EMIs with a flexible repayment tenure of up to 24 months.
4. Dining Benefits: Discount of about 15% at over 2,500 restaurants through ICICI Bank Culinary Treats program.

Rewards Program and Cashback Offers

Rewards program: The card comes with a rewards program that offers 2 PAYBACK points for every Rs. 100 spent on the card.

The accumulated reward points can be redeemed for various options such as vouchers, merchandise, and air miles.

Cashback offers: You can avail of cashback offers on fuel purchases, dining bills, and utility bill payments made using the card.

The cashback amount varies based on the merchant category and the offer terms and conditions.

Eligibility criteria and application process:

1. Age: The applicant should be at least 23 years old.
2. Documents required: The applicant needs to provide proof of identity, address, and income along with the credit card application form.

Application process: Interested customers can apply for the ICICI Platinum Chip Credit Card through the ICICI Bank website, mobile app, or by visiting the nearest ICICI Bank branch.

Other Charges:

1. Interest rate: The interest rate charged on the card is up to 3.40% per month.
2. Fee for Add-on Card: NIL
3. Joining Fee: NIL

Quick Tip: ICICI Platinum Chip Credit Card is best suited for beginners.

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6. Dhanlaxmi Bank Platinum Credit Card

Dhanlaxmi Bank Platinum Credit Card is a premium credit card for those who are looking for a powerful combination of benefits and privileges. This card is packed with features and benefits that cater to the lifestyle needs of the customers.

Features and benefits:

1. No annual fees: The card comes with no annual fees, which means you can enjoy all the benefits without any extra cost.
   
2. Fuel surcharge waiver: The card offers a fuel surcharge waiver of up to 2.5 % of the transaction subject to a minimum of Rs. 10 on fuel purchases at all petrol pumps in India.
   
3. Insurance cover: The card comes with an air accident insurance cover of up to Rs. 35 lakhs and a personal protection cover of up to Rs. 2 lakhs.

Rewards program and cashback offers:

1. Reward points: The card offers reward points on every purchase and could be redeemed once you have 600 points.
2. Cashback offers: Spend money at theatres, grocery stores, and department stores and get 5% cashback.

Eligibility criteria and application process:

1. Age: You should be between 21 and 60 years old.
2. Income: Your minimum income should be Rs. 6 lakhs per annum if you are salaried or self-employed.
3. Credit score: You should have a good credit score.

Other charges:

1. Interest rate: The interest rate on the card is 1.5% per month.
2. Late payment fees: Late payment fees of up to 600 can be charged.
3. Reward Redemption Fee: Up to Rs. 75.

Trivia: Dhanlaxmi Bank Ltd. started out as Dhanalakshmi Bank in Thrissur on November 14, 1927, with a capital of 11,000 and seven employees.

Conclusion

In this article, we’ve tried to learn about a few of the best credit cards in India that don’t have an annual fee and have a lot of features and benefits.

As Warren Buffett once said, “Do not save what is left after spending; instead, spend what is left after saving.”

The quote shows how important it is to be financially responsible and make smart choices, like choosing the right credit card for yourself.

When choosing the best credit card with no annual fee in India, you should think about your own needs and how you spend money. Make sure the card’s benefits and rewards fit your lifestyle.

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