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Customers can enjoy attractive benefits and features on some unique credit cards offered by lenders, that can help them reduce the overall cost of owning a credit card. The following credit cards are offered without any annual fees or charges apart from the standard rates as stipulated by the Bank. By availing these credit cards, the customer can save money on additional cost of procuring and maintaining their credit cards.
Central Bank of India Titanium Credit Card holders do not have to pay any annual fee when they avail this credit card. Borrowers can withdraw cash instantly using their Central Bank of India Titanium Credit Cards at any ATM in India.
Fees and Charges:
|
Annual Fee |
Nil |
|
Issuance Fee |
Nil |
|
Add-on Card Fees |
Nil |
|
Finance Charges |
2.99% per month |
|
Card replacement Fees |
Rs.100 |
|
Renewal Fees |
Rs.100 |
|
Emergency card replacement charges (abroad) |
Rs. 150 for each instance |
|
De-blocking charges |
Rs. 100 for each instance |
|
Over limit charges |
2% of the credit limit or Rs.100, whichever is the highest. |
|
Late Payment Fee |
Below Rs. 100 - Nil Above Rs. 100 - Rs. 100 |
|
Charge slip Retrieval Charges |
Rs. 100 |
|
Cheque Return Charges |
Rs. 150 |
|
Duplicate statement |
Rs. 100 per request |
|
Foreign currency transactions |
Conversion mark- up fee of 3.5% |
|
Cash withdrawal |
Rs 100 plus service charges |
|
Fuel Transaction Charge |
2.5% |
Vijaya Bank Platinum Credit Card holders can withdraw cash instantly from any Mastercard ATMs, worth up to 50% of his/her credit limit. The daily withdrawal limit is Rs. 25,000. If the borrower has not availed the revolving credit facility on this card, then he/she can enjoy a interest free credit period up to 50 days.
Fees and Charges:
|
Charge |
Amount |
|
Joining Fee |
Free |
|
Annual Fee |
Nil |
|
Renewal Fee |
Rs. 300 from the 4th year onward |
|
Interest rate |
Not specified |
IndusInd Bank Pinnacle Credit Card offers great rewards and incomparable welcome offers which are tailor-made to suit a card holder’s lifestyle requirements. This credit card has no annual fee charges levied on it.
Fees & Charges:
|
IndusInd Bank Pinnacle credit card |
Fees and Charges |
|
Joining Fee |
Rs 1,00,000 |
|
Annual Fee |
Nil |
|
Add-on Card fee |
Nil |
|
Interest Rates |
3.83% (monthly) |
|
Late Payment Charges |
Ranges from Rs 350 to Rs 550, depending on the outstanding balance. |
|
Cash Advance Charges |
2.5% of the advance amount or a minimum of Rs 250. |
|
Over limit charges |
2.5% of the over limit amount or a minimum of Rs 300. |
The HSBC Platinum Credit Card can be used anywhere in the world since it is globally accepted. In India, the credit card is accepted in over 18 million outlets and in more than 100,000+ outlets within the country itself. HSBC Platinum Credit Card holders do not have to pay any joining fee or annual fee.
Fees and Charges:
|
Joining Fee |
Nil |
|
Annual fee – First year |
Nil |
|
Annual fee – Second year |
Nil |
|
Finance charges on extended cash and credit advances |
39.6% per year or 3.3% per month calculated from the date of transaction |
|
Minimum payment due – extended credit usage |
5% of the total payment that is due ( a minimum of Rs. 100) |
|
Duplicate statements |
If over three months then Rs. 100 |
|
Cheque bounce/Unsuccessful ECS payment |
Rs. 350 |
|
Cash advance limit against credit card account |
As written in the user's monthly statement |
|
Cash advance transaction fee |
2.5% of the transaction amount (a minimum of Rs. 300) |
|
Cash withdrawal transaction fee at ATMs abroad |
Rs. 100 |
|
Cash withdrawal transaction fee at non-HSBC ATMs |
Nil |
|
Overlimit fee |
Rs. 500 |
|
Late payment fee |
50% of the minimum due amount (a minimum of Rs. 400 and a maximum of Rs. 750) |
|
Sales slip retrieval |
Rs. 225 per month |
|
Currency Conversion Charge |
3.5% |
|
Balance enquiry on credit card at non – HSBC ATMs |
Nil |
|
Rewards redemption – handling fee |
For every redemption, Rs. 50 is charged |
|
Copy of credit Information report |
Rs. 50 |
HSBC Bank Gold credit card holders can instantly access money for their requirements, at more than 1 million ATMs available in India and abroad. Cash withdrawals can be made from the customer’s HSBC bank account through any Cirrus ATM, Visa PLUS or MasterCard in India or overseas. The HSBC Gold credit card can be used at over 18 million merchant outlets, worldwide and at 100,000 outlets in India. HSBC Gold Credit Card holders do not have to pay any joining fee or annual fee.
Fees and Charges:
|
Annual Fee |
Nil |
|
Joining Fee |
Nil |
|
Add-on Card - Annual Fees |
Nil |
|
Finance Charges for Cash Advance/Extended Credit |
3.3% per month from the transaction date |
|
Free Credit Period |
Up to 52 days |
|
Due date of the payment from the statement date |
22 days |
|
Extended Credit - Finance Charges |
2.49% per month, calculated from the date of transaction. |
|
Minimum Payment Due |
5% of the total outstanding amount, with the minimum being Rs 100. |
|
Cash advance limit |
Up to 60% of the card limit |
|
Late Payment Fee |
50% of the minimum amount due , with the minimum being Rs 400 and the maximum being Rs 750 per month |
|
Over limit Fee |
Rs 500 per month |
HSBC Advance Visa Platinum Credit Card holders do not have to pay any joining fee or annual fee Any add on card you may avail of also will not attract any joining and annual fees.
Fees and Charges:
|
Charge |
Amount |
|
Joining fee |
Nil |
|
Annual fee (per annum) |
Nil |
|
Add on cards |
Nil |
|
Interest free period |
Up to 52 days interest-free period is given provided the previous month's outstanding balance is paid in full. |
|
Interest rate |
3.3% per month or 39.6% per annum is charged from the date of transaction on the basis of a daily reducing balance. |
|
Minimum Amount due |
5% of your total payment due will be the minimum due (plus greater of past due or overlimit due), subject to a minimum of Rs. 100. |
|
Late payment charges |
50% of the minimum amount due is charged if the payment does not reach HSBC by the due date. A minimum of Rs. 400 to a maximum of Rs. 750 is charged. |
|
Cash Advance limit |
This limit will be set at 40% of the credit limit or will be communicated in your monthly statement. |
|
Cash Withdrawal interest |
2.5% of the transaction value from the date of withdrawal, subject to a minimum of Rs. 300. |
|
Fees on cash withdrawal at any domestic ATM |
Nil |
PNB Global Classic Credit Card can be used at any merchant outlet that accepts Visa Cards, across the world. Customers can withdraw cash using this credit card, from any ATM in India or abroad, if it accepts Visa cards. 20 days to 50 days of interest free credit period is offered to customers, if he/ she paid the total amount due on the credit card on or before the due date of payment. There are no annual fees levied on this credit card.
Fees and Charges:
|
Initial Joining Fee |
Nil |
|
Add-on Card Fee |
Nil |
|
Renewal Fee |
Nil |
|
Annual Fee |
Nil |
|
Finance charges on revolving credit, outstanding amount, cash withdrawn on credit card, etc. |
2.45% per month |
|
APR on Revolving Credit |
29. 81% per annum |
|
Cash Advance Transaction Charges in PNB's ATMs |
2% of the cash withdrawn or Rs. 50, whichever is the highest. |
|
Cash Advance Transaction Charges in other ATMs |
2% of the cash withdrawn or Rs. 75, whichever is the highest. |
|
Cash Advance Transaction Charges Overseas |
2% of the cash withdrawn or Rs. 150, whichever is the highest. |
|
Late Payment Fees |
30% of the minimum amount due, with a minimum amount of at least Rs. 200 and a maximum of Rs. 500 in each billing cycle. |
The Canara Bank Global card comes at a one-time joining fee of Rs. 250 but has no annual fees charged on the account. The borrower can avail facilities such as revolving credit, cash advances, free insurance coverage, surcharge waivers, and so on.
Fees and Charges:
|
Charge |
Amount |
|
Joining Fee |
Rs. 250 + GST as applicable |
|
Annual Fee |
Nil |
|
Add on Card |
Nil |
|
Interest on revolving credit |
2.5% per month (30% per annum) |
|
Minimum due |
5% of the billed amount, subject to Rs. 100 minimum |
Canara Bank does not charges a joining fee or annual fees for its VISA Classic / Mastercard Standard card. The card holder can enjoy the exclusive benefits offered by the credit card without paying any subscription charges. Add on cards can also be availed by the primary cardholder’s family members at no additional charge and have no annual fee. The family member should be more than 18 years old in order to avail an add-on card.
Fees and Charges:
|
Charge |
Amount |
|
Joining Fee |
Nil |
|
Annual Fee |
Nil |
|
Supplementary Card |
Nil |
|
Interest on revolving credit |
2.5% per month or 30% per annum |
|
Minimum due |
5% of the billed amount, subject to Rs. 100 minimum |
|
Cash advance transaction charge at Canara Bank ATMs |
3% of transaction amount, or a minimum of Rs. 30 for every Rs 1000 crossed |
|
Cash advance transaction charge at Other Bank ATMs |
As per the respective bank |
Dhanlaxmi Bank does not levy an annual fee on the Dhanlaxmi Bank Gold Credit Card as well as on any add on card provided to the main credit card holder’s family members. There are no joining fees charged for issuing the primary credit card and on add on cards either.
Fees and Charges:
|
Charge |
Amount |
|
Joining Fee |
Nil |
|
Annual Fee |
Nil |
|
Renewal fee |
Nil |
|
Add on Card |
Nil |
|
Interest on revolving credit |
2% per month and 24% per annum. In the event of defaulted payment, the penal interest rate will be 3.5% per month. |
|
Minimum due |
5% of the billed amount, or a minimum of Rs. 200; whichever is the highest. |
Dhanlaxmi Bank does not levy a renewal fee or annual fee on the Dhanlaxmi Bank Platinum Credit Card. The primary cardholder can also apply for add on cards for his/her family, free of charge. This credit card comes with purchase protection, free accident insurance and also lost card liability coverage. The interest charges are only 1.5% per month when the outstanding balance is carried forward.
Fees and Charges:
|
Charge |
Amount |
|
Joining Fee |
Nil |
|
Annual Fee |
Nil |
|
Renewal fee |
Nil |
|
Add on Card |
Nil |
|
Interest on revolving credit |
1.5% per month and 24% per annum. In case of default, the charges increase to 3.5% per month. |
|
Minimum due |
5% of the billed amount subject to a minimum of Rs. 200. |
Indian Bank does not levy any annual fee or joining fee on the Indian Bank Global Classic Credit Card issued to a customer. The one-time charge levied on add-on cards for members of the primary cardholder’s family, is Rs. 100. The interest rate applicable on the Indian Bank Global Classic Credit Card is only 1.99% per month and the interest free credit period is 15 days to 45 days.
Fees and Charges:
|
Charge |
Amount |
|
Joining Fee |
Nil |
|
Annual Fee |
Nil |
|
Add on Card |
One-time fee of Rs. 100. |
|
Interest on revolving credit |
1.99% per month (23.88% per annum). |
|
Minimum due |
5% of the billed amount. |
Indian Bank offers the Global Gold Credit Card to its customers absolutely free of cost as there are no annual fees, joining fees or renewal fees charged on the same. The primary cardholder can also share the benefits available on this credit card with his/her family by applying for add-on cards. The one-time fee levied on each add-on card is Rs. 250. This credit card also comes with a comprehensive insurance coverage.
Fees and Charges:
|
Charge |
Amount |
|
Annual Fee |
Nil |
|
Joining Fee |
Nil |
|
Add on Card |
One-time fee of Rs. 250. |
|
Interest on revolving credit |
1.99% per month (23.88% per annum). |
|
Minimum due |
5% of the amount billed. |
The Indian Bank VISA Business Credit Card is issued by the Bank at no extra cost since joining fees and annual fees are not charged on the same. Corporates and SMEs can avail maximum 5 cards per unit for their employees. The credit limit available on the card will be determined based on the availability of security coverage, branch recommendations and audited financials. The borrower can avail up to 20% of the credit limit as cash advance, at attractive rates of interest. The interest free credit period ranges from 15 days to 45 days. Revolving credit facility is available at an interest rate of 1.99% only, per month.
Fees and Charges:
|
Charge |
Amount |
|
Annual Fee |
Nil |
|
Joining Fee |
Nil |
|
Add on Card |
NA |
|
Interest on revolving credit |
1.99% per month and 23.88% per annum. |
|
Minimum due |
25% of the transaction amount + service charges, or a minimum of Rs. 1,000/- whichever is the highest. |
The LIC Corporation Bank offers the Platinum EMV Credit Card free of cost to borrowers. Annual fees, renewal fees and joining fees are not levied on this card. One add-on card can be availed free of cost and the rest are charged Rs. 200 each, for the issue of the card.
Fees and Charges:
|
Annual Fee |
Nil |
|
Interest Rate on Revolving Credit |
3% per month and 36% annually. |
|
Joining Fee |
Nil |
|
Add on card Charges |
One Add-on card - free. Others, Rs. 200 each. |
|
Cash withdrawal limit |
30% of the credit limit |
|
ATM cash withdrawal fee |
2.5% of the transaction |
|
Interest Free Credit period |
Ranges between 15 days to 45 days |
|
Replacement Card |
Rs. 250 |
|
Duplicate PIN request |
Rs. 30 for each instance. |
|
Purchase Protection |
Maximum Rs. 50,000/- for maximum 60 days. |
|
Balance Transfer Processing Charges |
1% of the amount transferred or Rs. 100, whichever is the highest. |
|
Charge slip Retrieval Fee |
Rs. 125 for each charge slip retrieved |
Borrowers can avail LIC corporation bank gold card free of cost. Annual fees, joining fees, or renewal fees are not charged on this credit card. The rate of interest levied on carrying over the outstanding balance to the next billing cycle is 2.75% per month and 33% per annum.
Fees and Charges:
|
Joining Fee |
Nil |
|
Annual Fee |
Nil |
|
Interest Rate on Revolving Credit |
2.75% per month and 33% annually. |
|
Cash withdrawal limit |
30% of the credit limit |
|
Interest Free Credit period |
Ranges between 15 days to 45 days |
|
Personal Accident Insurance |
Rs. 1.00 lakh |
|
Purchase Protection |
Maximum Rs. 50,000/- for not more than 60 days. |
|
Credit Shield |
Up to Rs. 50,000/- in the event of Permanent Disability. |
The LIC Corporation Bank offers the Platinum Credit Card to LIC Employees, LIC Agents as well as LIC policyholders without levying any joining fees or annual fees or renewal fee. The validity of this credit card is 5 years.
Fees and Charges:
|
Joining Fee |
Nil |
|
Annual Fee |
Nil |
|
Interest Rate on Revolving Credit |
3% per month and 36% annually. |
|
Cash withdrawal limit |
30% of the credit limit |
|
Interest Free Credit period |
Ranges between 15 days to 45 days |
|
Personal Accident Insurance |
Rs. 2.5 lakh |
|
Purchase Protection |
Maximum Rs. 50,000/- for not more than 60 days. |
|
Credit Shield |
Up to Rs. 50,000/- in the event of Permanent Disability. |
*GST rate of 18% applicable for all financial services effective July 1, 2017
Every State Bank of India account holder with a balance of Rs.20,000 to Rs.25,000 can now avail credit cards with zero annual fee from the bank. Their credit history will not be considered for these cards. The card is called ‘Unnati’ and will be offered for 4 years to promote digital payments.
3rd April 2017
PayTM has removed the 2% charge that it had introduced earlier on the amount added in the wallet using credit cards. The charge was introduced by the e-wallet company after it suspected users of exploiting discounts. The CEO of the company said that many bank staff and merchants were found misusing PayTM’s 0% bank fee offer. PayTm said that this 2% charge became inconvenient for many users who were not misusing their e-wallets. To prevent misuse, the company has decided to build other features.
27th March 2017
MobiKwik has said that it will not charge additional fee from customers for credit card top-ups. The company announced this after Paytm started charging 2% fee for credit card top-ups. All MobiKwik users can recharge their wallets using credit cards for free. The company aims to increase the number of users to 150 million by the end of this year and serve more than 5 million merchants.
16th March 2017
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