Credit cards with no annual fees are offered by numerous banks to help in cost cutbacks. If you are looking for a credit card with no or low annual fee, choosing among the various options can be a gritty job. Our expert panel has done extensive research in helping you choose a credit card with no annual fee. This will depend on several factors that we have talked about below. It is also important to check the terms and conditions of the bank where the fee is waived off. Make sure you check out the credit card fees and charges list before moving forward. Keep on reading to find out some of the Best Free Credit Cards With No Annual Fee.
Top 10 Credit Cards with No Annual Fee in India
In this article
1. ICICI Platinum Chip Credit Card
First on the List is ICICI Platinum Chip Credit Card. ICICI Bank Cards are well known for great rewards. This Card is a multipurpose card and if you are new to the world of credit, it is best suited for you as you can gain some good credit score.
Joining & Annual FeeEligibility CriteriaFees and ChargesDocumentation
- Joining Fee – NIL
- Annual Fee (Second year onwards) – NIL
- Supplementary Card Fee – NIL
- Rate of Interest on cash advances – 3.40% per month (40.80% annualized)
- Reward Redemption fee- Rs.99\
- You must not be less than 23 years of age and should be less than 58 years of age.
- If you are salaried then your income must be over than 15000.
- If you are self-employed then your income must not be less than 50000.
- Annual Fee
- Rs 499 for the first year
- Rs 499.for second year onward. Waived in case your annual spends exceeds 1 lakh
- Identity Proof- PAN Card, Aadhar Card etc.
- Address Proof- PAN Card, Aadhar Card etc.
- Income Proof- IT returns, Salary Slips( not more than three months old), Form 16.
Features
- This card entitles you to earn PAYBACK points.
- For every Rs. 100 Spent, you will earn 2 PAYBACK points (except on fuel).
- On every Rs.100 spent on utilities and insurance categories, you will earn 1 PAYBACK point.
- You can redeem your PAYBACK points for movie and travel vouchers to lifestyle products, mobiles, appliances and more.
- You can get it in both gateways either with Visa or with Master.
- This Card has an extra layer of security as it has a feature of PIN, you will have to enter the security PIN for transactions.
- This Card gives you 48 days interest-free period ( 30 days billing cycle 18 days grace period).
2. Amazon Pay ICICI Bank Credit Card
It is a co-branded Lifetime Free Credit Card that gives you many benefits and rewards. We all know that Amazon is the greatest e-commerce in the Country. If you are a shopaholic and prefer online shopping mostly, then this card is perfect for you.
Joining & Annual FeeEligibility CriteriaDocumentation
- Joining Fee – NIL
- Annual Fee – NIL
- Overdue interest on extended credit and cash advances – 3.5% to 3.8% per month 42% – 45.6% per annum.
- You must not be less than 23 years of age and should be less than 60 years of age.
- If you are a salaried person, you can only apply if your salary is above Rs.20000 per month.
- If you are self-employed, Net Income ITR should not be less than 4 lacs.
- Identity Proof- PAN Card, Aadhar Card etc.
- Address Proof- PAN Card, Aadhar Card etc.
- Income Proof- IT returns( not less than 4 lacs), Bank Account Statements, Salary Slips( not more than three months old), Form 16.
Features
- If you are an Amazon Prime customer, for every transaction that you will earn up to 5% back on amazon.in.
- If you are a non-prime customer, for every transaction that you will earn up to 3% back on amazon.in.
- You can earn up to 2% back on transactions made to Amazon pay partner merchants through using this Card on Amazon Pay.
- You can earn up to 1% on all other payments made using the Amazon Pay ICICI Bank Credit Card (except fuel).
- These earnings will be in the form of Amazon Pay Balance.
- This Card like the ICICI Platinum Card has the feature of a PIN that serves as an additional security feature for the credit card, you will have to enter the security PIN for transactions.
- 30 days billing cycle 18 days grace period.
Benefits
- No limit to the earnings from this credit card.
- No expiry date for your earnings, it will be there in your Amazon Pay Balance.
- You can use your earnings for purchasing 10 crores + products at Amazon.in and at 100+ partner merchants.
- You can save a minimum 15% on your dining bill at over 2,500 participating restaurants with the ICICI Bank Culinary Treats program.
- You can purchase anything above Rs. 3000 on amazon on no-cost EMI for a period of 3 or 6 months with this card.
- You can avail a 1% fuel surcharge waiver on maximum transactions of Rs. 4000 at Hindustan Petroleum Fuel Pumps.
3. HSBC Visa Platinum Card
There are only selective Lifetime Free Credit Cards in India. This one is among them because of the premium services that the bank provides to you. It can cater to you with various offers on shopping, dining, movie tickets, and fuel purchasing.
Joining & Annual FeeEligibility CriteriaDocumentation
- Joining Fee – NIL
- Annual Fee – NIL
- Interest Rate- 3.3% per month
- Rewards Redemption Fee- Rs. 50 per request
- You must not be less than 18 years of age and should be less than 65 years of age.
- If you are a salaried person, Minimum annual income must be equal or above Rs. 4 lacs per annum.
- Available in selective cities only – Bangalore, Chennai, Gurgaon, Hyderabad, Mumbai, New Delhi, Noida, or Pune.
- Identity Proof- PAN Card, Aadhar Card etc.
- Address Proof- PAN Card, Aadhar Card etc./Form 60.
- If you are a Multi-National Employee, then the salary slip/certificate.
- If You are a salaried employee in private Limited Company, then Bank Account Statements and Salary Slips( not more than three months old).
Features
- Introductory Offers – Within 60 days of the transaction from your HSBC Credit Card, you will get two Airport Lounge Access to Domestic and International lounges or complimentary meals at the Airport
- You will get 10% cashback up to Rs.2000 for making a minimum of 9 transactions adding up to Rs. 10,000 or more within the first 90 days of card issuance.
- You will get a BookMyShow Voucher of Rs.500 if you will spend over Rs. 50000 in a calendar month.
- Within 60 days of completing your first transaction, you will get Swiggy vouchers worth Rs. 250
- For every Rs. 150 spent, you will get 2 reward points.
- Rewards increases 5x once you spend more than 4lacs in a year( up to 15000 reward points in that year)
- You can redeem these reward points for gift vouchers, Airlines etc.
- Interest-Free Credit for 52 days.
Benefits
- Zero Liability for lost cards- Suppose your card is lost, you will not be liable for the transactions made after reporting the HSBC.
- You also get covered for misuse of your HSBC Visa Platinum Credit Card up to 24 hours before reporting and registering, for up to Rs. 300,000.
- Emergency Card Replacement- If your Card is lost, you can call on HSBC helpline no. or can reach out to Visa Assistance and get your card canceled and can have an emergency card issued anywhere in the world within 3 days
- With HSBC Credit Card, you get a fuel surcharge waiver on all petrol pumps across India for transactions between Rs.400 and Rs.4000 with a maximum amount to be restricted at Rs.250 per month.
- You get a 15% discount on Cliq.com on selected categories.
- The weekend offers on BookMyShow.
4. Central Bank of India Titanium Credit Card
It is a premium Credit Card that brings you superb privileges. It is a Lifetime Free Credit Card to fulfil your all shopping needs and reward you along with some exciting offers and benefits. It is accepted all around the globe.
Joining & Annual FeeEligibility CriteriaDocumentation
- Joining Fee – NIL
- Annual Fee – NIL
- Interest Rate- 2.99% per month
- You must not be less than 18 years of age and should be less than 65 years of age.
- Your minimum annual gross income must not be less than Rs.1.5 lacs per annum.
- You should have an account in the Central bank of India.
- Identity Proof- PAN Card, Aadhar Card etc.
- Address Proof- PAN Card, Aadhar Card etc.
- Income Proof- IT returns for self-employed, Bank Account Statements and Salary Slips( not more than three months old).
- Contact details – Mobile Nos. e-mail id etc.
Features
- This Card comes with 3D Secure MasterCard Secure Code. For every online transaction, it will ask you for a One Time Password (OTP).
- Maximum 55 days of credit free usage.
- No fee will be levied from you for add-on cards.
- Customer Care Services are provided to you 24X7.
- It comes with a validity of 5 years, after that you can opt for renewal.
- E-Statement will be delivered to your mail Id.
- SMS alerts will be delivered to your registered mobile number for every transaction, statement generation, payment due & periodic card offers.
- Payments can be done via the auto-debit facility by you.
Benefits
- For every Rs. 100 spent, you will get 1 loyalty point and these points can be redeemed on online purchases.
- These points can be redeemed for air tickets, movie tickets, bus tickets, recharge mobiles, and other merchandise.
- With this card, you will get complimentary lounge access at certain airports across the country.
5. ICICI Instant Platinum Credit Card
If you want to build or repair your credit score, then this card is ideal for you. Also, it doesn’t let you compromise on privileges and services. To get this card, you just need to have a fixed deposit account and you don’t need to submit any income proof.
Joining & Annual FeeEligibility CriteriaDocumentation
- Joining Fee – NIL
- Annual Fee – NIL
- Interest Rate- 2.49% per month, 29.88% per annum.
- Supplementary Card fee- NIL
- You should have fixed deposit account in any branch of ICICI bank.
- Minimum tenure of the fixed deposit has to be at least 180 days.
- Minimum Account of fixed deposit is to be Rs. 20000.
- You will have to submit proof of your fixed deposit account.
Features
- Instant, over the counter Card assurance- You just have to go to your nearest bank and show them your fixed deposit account not less than Rs. 20000, they will quickly provide you with a card. Also, if you don’t have a fixed deposit account, you can open one and you can get your card immediately.
- Assured, free Card- You get your Instant platinum Credit Card without any income document proof, all you should have is a fixed deposit account.
- For every Rs. 100 Spent, you will earn 2 PAYBACK points (except on fuel).
- On every Rs.100 spent on utilities and insurance categories, you will earn 1 PAYBACK point.
- You can redeem the points against a variety of attractive gifts.
- This Card is internationally valid Global Emergency Assistance and Card replacement service is provided to you.
- This Card has an extra layer of security as it has a feature of PIN. You will have to enter the security PIN for transactions.
Benefits
- Discount on BookMyShow up to Rs.100 on purchase of minimum two tickets up to two times in a month.
- You can avail 1% fuel surcharge waiver on maximum transactions of Rs. 4000 at Hindustan Petroleum Fuel Pumps.
- You can save a minimum 15% on your dining bill at over 2,500 participating restaurants with the ICICI Bank Culinary Treats program.
- Various VISA Offers on Dining, Wellness and Hotels.
6. IndusInd Platinum Master Credit Card
Suitable for all kinds of lifestyle requirements, The IndusInd Bank Platinum Master Credit Card offers a comprehensive range of travel, lifestyle and golf benefits to suit your preferences. It is a multipurpose lifetime free credit card.
Joining & Annual FeeEligibility CriteriaDocumentation
- Joining Fee – Rs. 3000
- Annual Fee – NIL
- Interest Rate- Monthly: 3.83% ; Annually: 46%
- Supplementary Card fee- NIL
- If you are salaried then your income must be over than Rs. 3 lacs per annum.
- If you are self-employed then your income must not be less than Rs. 4.8 lacs.
- KYC Documents: Pan card, Aadhaar card and photograph.
- Address Proof- PAN Card, Aadhar Card etc.
- For salaried individuals-Last 3 month’s bank statement or last 3 month’s salary slip or other bank’s credit card details.
- For a self-employed individuals-Latest copy of ITR or other bank’s credit card details.
Features
- You have 50 days as an interest-free period.
- It provides you with Priority Pass Membership through which you can get access to 700+ lounges across the world
Benefits
- You don’t need to worry about the misuse of your card if it is lost or stolen. Special Total Protect program covers your card for a sum up to its credit limit against any fraudulent use of your Card.
- Complimentary Personal Air Accident insurance cover of up to ₹ 25,00,000.
- Travel Plus Programme avails you special waivers on several lounge charges outside India and you can for a maximum of 8 international travels per year.
- You can avail travel insurance benefits.
- For you to enjoy your travel, this card provides you with exclusive services like Pre-trip assistance, Flight booking assistance, Hotel reservations etc.
- 24X7 Auto Assist Services.
- You will get fuel surcharge waiver on all petrol pumps across India for transactions between Rs.400 and Rs.4000.
7. Kotak Urbane Gold Credit Card
Kotak Urbane Gold Credit Card is also one of those Cards that fulfills most of the needs of a busy shopper. If you are one of them, then this one is for you. It provides great reward points and discount offers.
Joining & Annual FeeEligibility Criteria
- Joining Fee – NIL
- Annual Fee – Rs.199. However the annual fee can be waived off if you spend at least Rs.15000 within three months
- Interest Rate- 3.50% per month
- You must not be less than 21 years of age and should be less than 65 years of age.
- For Add-on Card you must be not less than 18 years of age.
- Available in selective cities only -Ahmedabad, Bangalore, Chennai, Delhi (including Gurgaon and Noida), Hyderabad, Kolkata, Mumbai, Navi Mumbai and Pune.
- Your income must not be less than Rs. 3 lacs per annum.
- Identity Proof- PAN Card, Aadhar Card etc.
- Address Proof- PAN Card, Aadhar Card etc.
- Income Proof- IT returns, Salary Slips( not more than three months old).
Features
- For every Rs.100 on retail transactions, you earn 3X rewards.
- To redeem you must have 1000 reward points.
- You can redeem 1000 reward points for Rs. 75
Benefits
- Urbane Shield- It assures you even if your card is lost or stolen, it gives you coverage of Rs. 50000 against the misuse of your card.
- Add-on Card- You can have Add-on Card without any fee and you can set the spending limit on your Add-on Card as you wish.
- If you will spend Rs. 1, 00,000 in a year, you will get 4 free PVR tickets or 10,000 reward points
- You Can redeem those reward points for cash, shopping etc.
8. Axis My Zone Easy Credit Card
My zone credit card is best for shopaholics and particularly for those who spend a lot on movie tickets. It provides you with great rewards and cash backs on purchases of movie tickets.
Joining & Annual FeeEligibility CriteriaDocumentation
- Joining fee – NIL
- Annual Fee – NIL
- Interest Rate – 2.50% per month
- You should have a fixed deposit account in any branch of Axis bank.
- Minimum Account of fixed deposit is to be Rs. 20000 and a maximum of Rs. 2500000.
- You must not be less than 18 years.
- Identity Proof- Pan card, Aadhaar card, voter’s ID card, UIDAI issued the letter.
- Address Proof- PAN Card, Aadhar Card, utility bill, property registration document etc.
- Income Proof- latest salary slip (1 or 2), bank statement of last 3 months, Form 16
Features
- You have 50 days as an interest-free period.
- This card comes with the Platinum Chip and contactless technology ( you just need to tap for the secure transaction ), this platinum chip can’t be duplicated that makes it safer to use.
Benefits
- You get 25% on online purchases ( including purchases of movie tickets)
- You get guaranteed approval for this card.
- You will get 1% fuel surcharge waiver on all petrol pumps across India for transactions between Rs.400 and Rs.4000 (GST charges are non-refundable and there are no reward points on fuel transactions).
- Discount on Myntra up to Rs.1000.
- You get a 20% off discount at any partner restaurants.
9. Yes Prosperity Rewards Plus
Yes, prosperity reward plus card is specially designed to give rewards to you every time you swap it for some purchase. It gives you a lot of great discounts and rewards on your spending.
Joining & Annual FeeEligibility CriteriaDocumentation
- Joining fee – Rs. 499
- Annual Fee – Rs. 499, however, it can be waived off under certain circumstances.
- Interest Rate – 2.99% per month (for yes bank account holders) and 3.22% (for non yes bank cardholders).
- You must not be less than 21 years of age and should be less than 60 years of age.
- If you are salaried then your monthly income must be Rs.25000 or more.
- If you are self-employed then your income tax return must not be less than Rs. 5 lakhs.
- You must have a fixed deposit with yes bank.
- Identity proof- Aadhar card, PAN card, etc.(with passport size photographs and filled application form).
- Address proof – Aadhaar card, voter ID card, etc.
- Income proof- latest payslips or bank statement of last 6 months (for salaried) and for self-employed – latest ITR, Balance sheet or Audited profit and loss statements.
Features
- You get the credit shield of the primary cardholder (in case of unintentional death).
- 24X7 Assist Services ( who help you with flight bookings, hotel reservation, etc.)
- With a master card secure code, you can have safe and secure online transactions.
- You get 24×7 automobile assist services (for emergency roadside repair)
- You don’t need to worry about misuse of your card if it is lost or stolen as it comes with the card protection plan.
Benefits
- You get up to 12,000 annual bonus rewards (each anniversary year) on the spending of 3.6 lakhs or more.
- You will get 1% fuel surcharge waiver on all petrol pumps across India for transactions between Rs.400 and Rs.5000.
- You get reward points of about 1200 on the spending of 5000 (30 days of card issuance).
- You will get various offers on groceries.
10. HDFC moneyback Credit Card
Our expert panel included this card as one of the best credit cards with no annual fees as it can offer you a lot of reward points, along with fuel surcharge discounts.
Joining & Annual FeeEligibility CriteriaDocumentation
- Joining fee – Rs. 500
- Annual Fee – Rs.500 (with GST). Waived off under special terms and conditions.
- Interest Rate – 3.40% per month
- You must not be less than 21 years of age and should be less than 60 years of age (less than 65yr in case of self-employed).
- If you are salaried then your monthly income must be Rs.13500 or more.
- If you are self-employed then your minimum income must be of Rs.22500 per month.
- Identity proof- Aadhar card, PAN card, etc. (with passport size photographs and filled application form).
- Address proof – Aadhaar card, voter ID card, etc.
- Income proof- latest payslips or bank statement of last 6 months and recent income tax return document, form 16 and salary slip (government employed in the office of PSUs).
Features
- You have 50 days as an interest-free period.
- 24×7 call center facility (to report immediately in case of lost, this absolves them from any burden of fraud transactions).
- This Card has EMV chip technology, which means it very secure.
Benefits
- You get money back rewards ( 2 points on each purchase worth Rs.150).
- On online payments, you get twice of reward points (100% more).
- You will get a 1% fuel surcharge waiver on all petrol pumps across India for transactions of above Rs.400.
- Reward points are valid for 2 years.
- By just swiping, you can make payments of up to 2000.
- It offers milestone benefits.
FAQs
Q1.What is the CVV number?
The 3 digit number mention on the backside of your card is CVV (card verification value) number. During online transaction it is used for verification, you should not share this no to anyone.
Q2. Am I eligible for a Credit Card?
A. You are eligible if you are older than 18 yrs, have a valid Indian address, savings account, and income proof.
Q3. How long does it take to apply for and receive a Credit Card?
A. there are websites through which you can apply in less than 2-3 minutes and you need to submit all your required documents. Within 2 weeks, you will receive your new credit card.
Q4. What should I do if I lose my card or if my card is stolen?
A. If you have lost your card, you need to block your cards first to prevent any unauthorized transactions. To block your lost card, you have to call the card issuers customer care number.
Q5. What are reward points and how can I use them?
A. Purchasing (using a credit card) you can get some reward points; you need to redeem your points to get discount vouchers and freebies.
Q6. Can I increase my credit limit later on?
A. Yes, you can increase your card limits by placing a request with the card issuer. You may need to submit some additional documents too.
Q7. How can I pay my credit card bills?
A. You can pay your bills through cheque or drafts, net banking, NEFT or RTGS fund transfer mode and by using cash at any branch of your card.
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