5 low interest credit cards in India

One of the various features of the credit cards is to allow you to carry unpaid balance to the next month billing cycle, giving you more time to pay back money. However, this facility doesn’t come free, and an interest is charged on the amount carried forward. At such times, having a credit card that charges low interest is advantageous.

See also: Top cashback credit cards

Axis Bank Burgundy Private Credit Card

Source: Axis Bank

Fees and charges

This credit card is complimentary for Burgundy Private clients. It is priced at Rs 50,000 and taxes for non-Burgundy Private account holders. The annual fee is Rs 50,000 from the second year (nil for Burgundy Private account holders).

Features

• The overdue interest on extended credit is 1.5% monthly and 19.56% per annum.
• Welcome Edge reward points, amounting to 30,000 on the first transaction.
• 15 Edge reward points for every Rs 200 spent on the card.
• Until the payment due date, there is no cash withdrawal charges, or interest levied.
• No forex mark-up on international transactions.
• You can effortlessly increase credit limit during foreign travel.
• Complimentary concierge service for eight airport visits.
• Unlimited lounge access at international airports for Priority Pass holders and add-on Priority Pass holders.

See also: Rent pay by credit card

Axis Bank Magnus Credit Card

Source: Axis Bank

Fees and charges

The joining fee is Rs 10,000 plus GST and this is reversed in the form of welcome benefit. The annual fee of Rs 10,000 and taxes will be waived off on spends of Rs 15 Lakh in the preceding year.

Features

• The overdue interest on extended credit is 2.5% monthly and 49% per annum.
• Lower interest rate of 3% on extended credit.
• Reduced mark-up fee of 2% on foreign transactions.
• There is no cash withdrawal fee.
• 25,000 Edge reward points worth Rs 5,000 if you spend Rs 1 Lakh a month.
• 5X Edge rewards on travel spends via TRAVEL EDGE.
• 12 Axis Edge rewards points on every Rs 200 spent.
• You can either choose a complimentary domestic flight ticket, or a Tata CLiQ voucher worth Rs 10,000 as your annual benefit.
• Eight complimentary VIP services at the airport.
• Unlimited complimentary international lounge visits.
• On buying one movie/non-movie ticket, get up to Rs 500 off on the second one.

HDFC Bank Infinia Credit Card

Source: HDFC Bank

Fees and charges

• The joining fee is Rs 12,500 and applicable taxes. The annual fee is also the same.
• The renewal membership is waived off if you spend Rs 10 Lakh, or more in the preceding year.
• The welcome and renewal benefit offered is 12,500 reward points.

Features

• The overdue interest on extended credit is 1.99% monthly and 23.88% per annum.
• Up to 50 days of interest free period from the date of purchase.
• Lowest markup fee of 2% on all foreign currency transactions.
• Complimentary nights and buffet at participating ITC Hotels.
• Complimentary Club Marriott membership for the first year.
• Unlimited international airport lounge access.
• 5 reward points for every Rs 150 spent.
• Global personal concierge – 24 X 7.

HDFC Diners Club Black Credit Card

Source: HDFC Diners Club

Fees and charges

• The joining fee is Rs 10,000 and applicable taxes. The annual fee is also the same.
• On spending Rs 5 Lakh in 12 months, get renewal fee waived for the next renewal year.

Features

• The overdue interest on extended credit is 1.99% monthly and 23.88% per annum.
• Up to 50 days of interest free period from the date of purchase.
• Complimentary annual memberships of Club Marriott, Forbes, Amazon Prime, Swiggy One (three months) and MMT BLACK.
• Complimentary Ola cabs, or cult.fit Live, or BookMyShow, or TataCliQ vouchers if you spend Rs 80,000 every month.
• 5 reward points for every Rs 150 spent.
• Up to 10X reward points via SmartBuy and 2X on weekend dining.

Kotak Privy League Signature Credit Card

Source: Kotak Mahindra Bank

Fees and charges

There is no joining fee for this card. The annual renewal fee of Rs 2,500 every year is Rs 999, which may be reversed if the annual spending for the previous year is more than Rs 2 Lakh.

Features

• The overdue interest on extended credit is 2.49% monthly and 29.88% per annum.
• Five reward points on categories like apparels, jewellery, consumer durable, restaurants, departmental stores, etc. Two reward points on all other retail spending.
• Five reward points on categories like hotels, airlines, international spending, and travel agencies.
• Complimentary Priority Pass Membership.

FAQs

Anuradha Ramamirtham

With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: anuradha.ramamirtham@housing.com

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