10 Best No Annual Fee Credit Cards in India

Looking for a credit card with no annual fees? The options are not many but there’s hope. I personally hate credit cards with annual fees. I mean, why should I be paying you for being able to use the card? If the rewards are amazing, it might make sense to pay annul fees in certain cases, but not all the time. Here are some of the credit cards in India with no aanual fees that I found are worth having.

Reason for charging annual fee

Credit card companies charge an annual fee as it a small charge for the luxury provided by the company. Apart people with bad credit history will always have a conscience when a charge is to be paid off. This charge will ensure that they will apply only if they can meet the expenses and if they do so they will make sure to pay on time

Disadvantages of no annual charge card

Credit card companies work on profit and there is no way that no annual fee means no benefit for them. You need to carefully examine all the features and charges associated with the card.

P.S – In my experience, the best credit cards in India so far, is the Standard Chartered Manhattan (Apply here) and SBI Simply Save card (Apply Here). Check out the reviews here – Standard Chartered Manhattan Review and SBI Simply Save Review.

High interest would be one common factor when there is no annual charge.

You need to also check if there is any additional charges. Normally companies charge different fees to be make up for the gap in the budgets.

Now here are some of the credit cards in India that don’t have any annual fees.

1. Standard Chartered Landmark Reward Platinum Card

Standard Chartered has a set of very good and rewarding cards. One among them is the Landmark rewards card and it comes with zero annual fee. One aspect of it is that it does have as it has tie up with Max, Lifestyle and Home Centre some of the most popular brands across India.

Eligibility

  • The applicant’s income is looked into by the bank and is sanctioned by the bank.
  • It is important that the person has a good credit history.

Benefits

  • The Platinum Rewards Card gives 9X Reward Points at stores affiliated to Landmark, such as Home Centre, Max and Lifestyle.
  • For other purchases the cardholder gets 2x reward points.
  • The customers get an additional cashback of 5% on at Home Centre and Lifestyle. You get a cashback of Rs 150 and a maximum of Rs 500 per month.
  • Earn rewards and get a cashback voucher worth Rs 2700.
  • You also have access to the best lounges across the country.
Rewards Bonus offers APR Joining  Fee Annual Fee Cash withdrawal Interest free credit period
9X Reward Points at Home Centre, Max and Lifestyle. Rs.500 as cashback every month and Rs.150 for each transaction 37.20% Rs 399 Nil A minimum of Rs. 500 or 2.5% of the over limit amount 18-48 days.

Drawbacks

Cashback is only Rs 500 with a maximum of Rs 150 per transaction which is quite low.

Summary

The Standard Chartered Landmark Platinum Card has quite a good reward scheme for its cardholders. You can make up to 9x reward points for expenses made at Home Centre, Max and Lifestyle. Apart from that you get access to lounges, cash back benefits and many more. There is a joining fee of Rs 399 but no annual fee makes it a better offer.

2. Central Bank of India Titanium Credit Card

The Central Bank of India Titanium Credit Card gives multiple options for offers and benefits for its cardholders. Here the annual charge is zero and is valid for a period of 5 years. They have a good reward program and it can be redeemed when it accumulates. The points accumulated can be redeemed for air tickets, movie tickets, bus tickets, recharge mobiles, and other merchandise.

Eligibility

  • The applicant must be 18-65 years of age.
  • The annual income must be at least 1.5 lakh.

Benefits

  • 1 point for every Rs 100 spent.
  • Get access to complimentary Airport Lounge access at select Airports across India.
  • The card gives you 55 days credit free period.
  • The points accumulated can be redeemed for air tickets, movie tickets, bus tickets, recharge mobiles, and other merchandise.
  • The cardholders will also get access to SMS alerts for payments, transactions, reminders and other seasonal offers.
  • You also get access to cash withdrawal facility at selected ATM’s across the country.
Rewards Bonus offers APR Joining  Fee Annual Fee Cash withdrawal Interest free credit period
1 point for every Rs 100 spent Redeem your points for  redeemed for air tickets, movie tickets, bus tickets, recharge mobiles, 2.99% per month Nil Nil Rs 100 per withdrawal + 2.99% p.m. from date of withdrawal till date of repayment Up to 55 days

Drawback

You avail only 1 point for every Rs 100 spent which is low when compared to the Standard Chartered Landmark Platinum Card that gives you 9x for every expenses made.

Summary

The Titanium Credit Card from Central Bank does not have any joining or any annual charge. But to avail this card you must have an annual income of 1.5 lakh. The card allows you to earn 1 point for every Rs 100 spent using the card. Later the accumulated points are redeemed for air tickets, movie tickets, bus tickets, recharge mobiles which can be useful for the customer. It is a good card to opt considering the good benefits and low charges.

3. HSBC Visa Platinum Credit Card

HSBC is a very good card to own as its rewards and privileges makes it good package. The highlight would be that it comes with zero annual charge and joining benefits. It is high on rewards so you can accumulate the points for gift vouchers or very cash benefits.

Eligibility

  • The applicant must be 21 years of age.
  • Annual income must be 4 lakh and above.

Benefits

  • Avail 3 Times (3X) Rewards on spends on dining, hotels and telecom spend categories for the first 12 months.
  • 2 reward points for Rs 150 spent at departmental and other purchases.
  • 10% cashback on all spends within 90 days of receipt of the card.
  • The cardholder must at least make 3 transactions with card in a month otherwise he/she will not be qualified for eligible spends.
  • Get 5 times rewards (5X rewards) on spends over 400,000 in a year for up to maximum spends of 1,000,000 in a year
  • You can avail fuel surcharge waiver of 2.5% or Rs. 250, every month.
  • On spending Rs 50000 a month you receive a movie ticket worth Rs 500.
Rewards Bonus offers APR Joining  Fee Annual Fee Cash withdrawal Interest free credit period
3 Times (3X) Rewards on dining for first 12 months. 10% cashback on all spends within 90days of receipt. 39.6% per annum Nil Nil 2.5% on the amount withdrawn, subject to a minimum of Rs.300. 20-50 days.

Drawbacks

  • HSBC Visa Platinum Card is available to only applicants with an annual salary of 4 lakhs. As such it becomes difficult for everyone to access the card.
  • The interest rate is 39.6% which is reasonable Simply Save SBI Advantage Card which is offering 30% per annum.
  • You avail 2 reward points for Rs 150 whereas Central Bank Titanium is giving 1 reward point for every Rs 100.

Summary

The Platinum Card gives you maximum advantage as you don’t have any joining and annual charge. You get about 3 times rewards on dining and hotels and telecom spend and 2x rewards on other spends. The card is available only to people with an annual salary of 4 lakh but considering the benefits this is only a minor disadvantage.

4. Kotak Bank Royal Signature Card

Kotak Bank Royal Signature Card comes with good privileges like fuel surcharge waiver, access to premium airport lounges, customizable reward options and priority assistance. You have an option to accumulate the points as you spend and then redeem them against an array of options including air miles, movie tickets, mobile recharge, cash and branded merchandise. Apart from this the cardholder also gets a cover of 250000 against the fraudulent use of credit card.

Eligibility

  • The cardholder must be 21-65 years of age.
  • The applicant must have an annual income of 25 lakh and above.

Benefits

  • For expenses made under visa merchandise categories you get 10 x times rewards for every Rs 100 spend.
  • Make 4 x rewards for every Rs 150 spent.
  • Avail fuel surcharge waiver of 2.5% across all petrol pumps in India.
  • For annual spend of 8 lakh you get 30000 points.
  • Rewards can be redeemed through air tickets, merchandise options and mobile recharge with auto redemption facility.
  • Annual fee for second year onwards will be waived off on spending Rs 100000 or above in a year.
Rewards Bonus offers APR Joining  Fee Annual Fee Cash withdrawal Interest free credit period
10x rewards for every Rs 100 under

visa merchandise

4 x rewards for every Rs 150 spent. 37.2% per annum zero Zero(Rs 999 from 2 nd year onwards) Rs 300. 20-50 days.

Drawbacks

This card can only be accessed by a very elite group as the applicant must earn a minimum of 25 lakh.

Summary

The Kotal Royal Signature Card is not a common man’s card. The eligible criteria makes it difficult for every to access the card. But for celebrities and business professionals who earn so much can make maximum benefit from rewards and redemption options.

5. Citibank Rewards Cards

Citibank comes with a card which is exclusively for departmental purchases, dining, and travel needs too. Earn points as you meet your expenses and get rewarded on spending within 30 days of receipt of the card. The card has tie-ups with numerous retail chains and the bill can be settled in simple monthly installment options.

Eligibility

  • You should be 18 years and above to be eligible for this card
  • They should give income, address and identity proof for availing this card.

Benefits

  • As a joining gift you get 1000 points on spending Rs 1000and 1500 points on purchases made within 30 days of receipt of the card.
  • For purchases of Rs 125 at Apparel as well department stores earn about 10 reward points. You can make 1 rewards point for every 125 spent anywhere.
  • For quarterly purchases of Rs 1 lakh and above you gain about 1000 points and if you opt for e-mail statements gain another 300 points.
  • If Rs 30000 or more is spent within a period of 1 year your annual fee will be waived off.
  • By purchasing any other card of Citibank you gain 500 points and for every renewal you gain 1000 points.
  • You can also avail 20% discount on dining bills at over 2000 dining outlets.
  • Get access to concierge services that help to plan parties & family function, send flowers, reserve tables at restaurants and many more.
  • You can redeem your points online or at over 600 stores at your convenience.
Rewards Bonus offers APR Joining  Fee Annual Fee Cash withdrawal Interest free credit period
Welcome gift of 1000 on spending Rs 1000 within 45 days of receipt of card. Earn 10 points for every Rs 125 spent on apparels. 39.00 % per annum Nil Rs 1000(Will be waived off on spending Rs 30000 annually) Depending on the credit limit. 17-23 days.

Drawback

The APR is slightly high at 39%.If you compare it with Standard Chartered Landmark Reward Platinum Card it charges only 37.2% which is more reasonable.

Summary

The Citibank Rewards Card is perfect for people who like to earn rewards as they spend. They give 10 points for every Rs 125 spent using the card and 1 reward point for Rs125 spent elsewhere. Apart from this you are also accessible to many concierge services which can be easily availed. There is no joining fee but there is an annual charge of 1000 which will be waived off if the annual spend exceeds 30000 which is not so high.

6. ICICI Instant Platinum Credit Card

Here is a card that is perfect for all categories of people. It is apt for people having bad credit history as you can avail this card against a fixed deposit. You can apply this card online, through net banking or over the counter at the bank. This card can be received with minimum processing and requires very les documentation.

Eligibility

  • The applicant must have a fixed deposit with the bank.
  • The fixed deposit must be of a minimum amount of Rs 20000 and for period of 180 days.
  • Fixed deposit in the name of a Society, HUF, Partnership firms, Trust or Company cannot be considered.

Benefits

  • 2 payback points for every Rs 100 spent on all purchases except fuel.
  • The points collected can be redeemed later to cash.
  • Get a discount of Rs 100 for up to 2 movie tickets every month.
  • Get 15% savings on dining at over 800 restaurants courtesy our Culinary Treats program.
  • 2.5% fuel surcharge waiver can be availed on fuel transaction of maximum ₹ 4,000 at HPCL pumps.
  • Global Emergency Assistance and Card replacement service available.
Rewards Bonus offers APR Joining  Fee Annual Fee Cash withdrawal Interest free credit period
2 points for every Rs 100 spent Discount of Rs 100 for up to 2 movie tickets every month 29.88% annualized. Nil Nil Up to 80% of credit limit, with a maximum of Rs. 12,000 per day.. Up to 48 interest free days.

Drawback

This is available only if the applicant has a fixed deposit.

Summary

The ICICI Platinum Card is available is against a fixed deposit. The bank insists on this as it does not want risk from nonpayment of dues. So this card would be apt for people with low credit history. Apart form that the APR is also very low at 29.88% as most cards charges vary between 37-46%.The cards allows you to earn rewards as you spend and get benefits like dining, fuel surcharge and more.

7. Indus Ind Bank World Miles Card

This is a travel credit card offered by Indus Ind Bank. It is co-branded with Jet airways to suit your requirement. You have a chance to make points as you travel and double your points together with special privileges. Apart from this you also have welcome miles, entertainment, travel, fuel, insurance and concierge services.

Eligibility

  • Applicants must be 18-60 years of age.
  • Income proof, ID proof and address proof.

Benefits

  • Earn miles every time you pay using the Indus Ind world miles card.
  • You get a 22 karat gold engraved credit card
  • Super premium services available for customers who want to avail best-in-class privileges in travel and living, dining and lifestyle needs.
  • Special offers and benefits on dining.
  • Buy one ticket and get one free form Bookmyshow.com with a maximum cap of Rs 500 per month.
  • Get access to over 600 lounges across the globe.
  • Avail concierge services like pre-travel assistance, hotel reservations, flight booking, sports and entertainment booking.
  • Get a Complimentary personal Air Accident insurance covers you up to Rs. 25 lakhs.
Rewards Bonus offers APR Joining  Fee Annual Fee Cash withdrawal Interest free credit period
Earn 3 miles for every Rs. 100 spend Buy one ticket and get one free form Bookmyshow.com 21.48% per annum 2 lakh 10000(reversed if the annual spend 20lakhs) 2.5% on the amount of cash withdrawn from the ATM is charged on the card Up to 50 interest free days.

Drawbacks

  • The annul charge is reversed only on spending 20 lakh annually which is fairly high range.
  • The joining fee of 2 lakh is also very high.

Summary

The Indus Ind World miles card is for people who travel often and want to spend a lot on luxury. The privileges that is given to cardholders are exclusive and as such the charges are pretty high. This again cannot be afforded by common man as such is targeted for business professionals and celebrities who require such privilege.

8. PNB Global Classic Card

PNB Global Classic Credit Card is apt for dining, shopping, transport reservations, purchasing fuel, etc. This multi-purpose card can be used to earn reward points that can be later redeemed for gifts. Pay off your bills such as mobile/telephone bills, electricity bill, gas bill using this card.

Eligibility

  • The applicant must be aged between 21-65 years.
  • They must have an annual income of a minimum of 1 lakh.
  • For business or self-employed professionals should also earn at least 1 lakh income.
  • He/she must either be a Resident of India or must reside within the city limits of the Bank’s branches.

Benefits

  • Earn 2 points for every Rs 100 spent on using the card.
  • Once the points are accumulated up to 500 it can later be redeemed for attractive gifts.
  • Avail fuel surcharge waiver for transactions up to 400 to 3000.
  • Cardholders get 20-50 days of interest free period.
  • You are also entitled to a discount of 10% off on MRP at the outlets of Kairali Ayurvedic Group.
  • You also have an option to get your photo imprinted on the credit card.
Rewards Bonus offers APR Joining  Fee Annual Fee Cash withdrawal Interest free credit period
2 points for every Rs 100 spent 10% off on MRP at the outlets of Kairali Ayurvedic Group. 29. 81% per annum. Nil Nil 2% of the cash withdrawn or Rs. 50, whichever is the highest. 20-50 days

Drawback

You earn 2 points for Rs 100 spent while the Citibank Reward card gives you up to 10 reward points for every Rs 125 spent.

Summary

PNB’s Global Classic card is good for your daily purchases and comes with a good reward system. You make up to 2 points for every Rs 100 spent using the card. Apart form this you also have good deals on travel, fuel surcharge, Ayurvedic Group and more. There is no joining fee and annual charge. But the bank does say that the applicant must have a minimum annual income of 1 lakh which is to ensure prompt payment of dues.

9. Citibank First Citizen Titanium Credit Card

First Citizen Titanium Credit Card is the best for your shopping needs and has been designed exclusively keeping this in mind. People who love shopping can benefit from this and enjoy unlimited savings on this too. The card gives you exceptional membership privileges, welcome offers, easy redemption options, exciting rewards and exclusive in-store deals.

Eligibility

  • Applicants must be 18-60 years of age.
  • Income proof, ID proof and address proof.

Benefits

  • 2 vouchers from Shoppers stop worth Rs 250 redeemable from Shoppers Stop within 1 month of issuing the card.
  • Points that are earned on your First Citizen Citibank Card are usually transferred to Shoppers Stop on a monthly basis.
  • Home Stop vouchers redeemable at shoppers stop outlets.
  • Customers can enjoy special deals on beauty and wellness packages at spas, salons and fitness centers across the country.
  • Get 20% off on your dining from the set of selected restaurants.
  • 7 points for every Rs 100 spent at Shoppers Stop.
  • 1 citizen point for every Rs 100 spent.
  • You can redeem the points as 1 Reward Point = Rs.0.6 for redemption.
  • If your annual spend is more than Rs 30000 your fees will be waived off.
Rewards Bonus offers APR Joining  Fee Annual Fee Cash withdrawal Interest free credit period
7 points for every Rs 100 spent at Shoppers Stop. 1 citizen point for every Rs 100 spent. 39% per annum, Rs 500 Rs 500(waived off if the annual spend exceed Rs 30000). 2.5% (Min. Rs 250) of the Cash Amount Up to 50 days

Drawbacks

The APR is slightly high at 39%.The Standard Chartered Landmarks Reward Platinum Card charges only 37.2%

Summary

The joining fee for this card is very nominal at Rs 500 and the annual fee will also be waived off once the annual spend reaches Rs 30000.This card is apt for shoppers as it has got good deals with Shoppers Stop and spas, salons and fitness centers across the country. You can earn 7 points for spend sa t shoppers stop and 1 point for Rs 100 on other spends. The card also allows you to redeem your points for 1 reward for Rs 0.6 which is a fair deal.

10. SBI Simply Save Advantage Credit Card

SBI Simply Save Advantage Credit Card comes with several perks and advantages for the cardholder. It is perfect for your departmental purchases and even your utility bill payments. It does have an annual charge of Rs 499 which can be reversed if the annual fee is over Rs 90000.Earn points as you spend and later redeem them for attractive gifts.

Eligibility

  • Age above 21 -62 years.
  • Income proof, ID proof and address proof.

Benefits

  • Avail 10X Reward Points on movies, dining, groceries and departmental store purchases.
  • On other spends you get 1 point for every Rs 100 spend.
  • Get Rs. 100 cash back on your first ATM cash withdrawal, if done within 30 days of receiving your card.
  • Pay your utility bills on time without any difficulty.
  • Use your cards at over 24 million outlets across the globe, including 3,25,000 outlets in India.
  • Avail additional cards for your spouse, family members, parents….
Rewards Bonus offers APR Joining Fee Annual Fee Cash withdrawal Interest free credit period
10X Reward Points on movies, dining, groceries and departmental. 1 point for every Rs 100 spend 30% per annum) Rs 499 Rs 499(will be reversed on spending Rs 75000 or more annually). 2.5% of the total amount transacted (Subject to minimum amount of Rs 300) 20-50 days

Drawbacks

The APR is slightly high at 30% per annum. You PNB’s Global Classic card charging 29.88%.

Summary

Earn maximum points form the SBI Simply Save as you make up to 10 points on every departmental and grocery spends. The joining fee and annual charge is also very nominal at Rs 499 and the annual charge will be reversed if the annual spend exceeds Rs 75000.It does not have many premium privileges in terms of travel and lifestyle but it has all the basic benefits that a credit card gives.


About the author

Mani Karthik

Hi, Mani Karthik here. Having lived in USA, India & Middle East, and worked for big MNC’s to startups, I have a lot to share with you. My aim is to help people, by sharing everything I’ve learned in life. This blog is read today, by more than 150K people world over! I currently live in LA, California and visit India occasionally. Here’s my full story. Connect with me on FacebookInstagram, Twitter or WhatsApp (+001-408-489-4785). Happy to help! :)

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