How to Get Annual Fee Waiver on your Credit Card?
Today various banks and NBFCs in India offer different types of credit cards to allow customers to meet their various needs. There are various other benefits which come with the usage of a credit card, one of them being a waiver of the annual fee.
Your annual fee is waived off if you spend a certain amount on your credit card and clear the amount on time. For the new financial year, the bank looking at your history of spending on your card and how regularly you have cleared may choose to waive off the annual fee they may otherwise charge you.
Since this is a good saving option, there are certain steps you can follow to ensure you get your annual fee waived off. We will have a look at them.
How to Know If Eligible to Credit Card Waive Off?
- Before applying for a credit card, do check its features including whether you will get an annual fee waiver. Various credit cards offer this benefit where you on spending a certain amount or above it makes you eligible to receive an annual fee waiver.
- If you have spent up and above the prescribed limit, the bank in most cases will waive your annual fee. Mostly you need to spend up and above Rs.1 lakh to get your annual fee waived off.
- One way to ensure you get your annual fee waived off is by using your credit card for purchases related to grocery shopping, dining, travelling, etc.
- In case you see that the bank is still charging an annual fee despite you having met the criteria, you can call customer care and ask them to waive your annual fee. The bank will check whether you have spent the necessary amount, and if you have, your annual fee will be waived off.
- Even if there is no option of the annual fee being waived off, you can still call the bank and ask them to waive off your annual fee if you have used your credit card judiciously and cleared the billing amount on time.
- In many cases, if you have a long-standing relationship with the bank, on asking them to waive your annual fee off, the bank in most cases will comply with your request.
SBI Credit Card Fee Waive Off Conditions
Credit Card Name | Annual Fee | Renewal Fee |
AURUM | Rs.9,999 | Rs.9,999 (Waived off on spending Rs.12 lakh or more annually in the preceding year) |
SBI Card ELITE | Rs.4,999 | Rs.4,999 (Waived off on spending Rs.10 lakh or more annually in the preceding year) |
SBI Card ELITE Advantage | Rs.4,999 | Rs.4,999 (Waived off on spending Rs.10 lakh or more annually in the preceding year) |
SBI Card PRIME | Rs.2,999 | Rs.2,999 (Waived off on spending Rs.3 lakh or more annually in the preceding year) |
SBI Card PRIME Advantage | Rs.2,999 | Rs.2,999 (Waived off on spending Rs.3 lakh or more annually in the preceding year) |
Doctor's SBI Card | 1,499 | Rs.1,499 (Waived off on spending Rs.2 lakh or more annually in the preceding year) |
Shaurya Select SBI Card | NIL | Rs.1,499 (Waived off on spending Rs.1.5 lakh or more annually in the preceding year) |
Shaurya SBI Card | Rs.250 | Rs.250 (Waived off on spending Rs.50,000 or more annually in the preceding year) |
SBI Card PULSE | Rs.1,499 | Rs.1,499 (Waived off on spending Rs.2 lakh or more annually in the preceding year) |
CASHBACK SBI Card | Rs.999 | Rs.999 (Waived off on spending Rs.2 lakh or more annually in the preceding year) |
SimplyCLICK SBI Card | Rs.499 | Rs.499 (Waived off on spending Rs.1 lakh or more annually in the preceding year) |
SimplyCLICK Advantage SBI Card | Rs.499 | Rs.499 (Waived off on spending Rs.1 lakh or more annually in the preceding year) |
SimplySAVE SBI Card | Rs.499 | Rs.499 (Waived off on spending Rs.1 lakh or more annually in the preceding year) |
SimplySAVE Advantage SBI Card | Rs.499 | Rs.499 (Waived off on spending Rs.1 lakh or more annually in the preceding year) |
Krishak Unnati SBI Card | NIL | Rs.499 (Waived off on spending Rs.30,000 or more annually in the preceding year) |
Apollo SBI Card | Rs.499 | Rs.499 (Waived off on spending Rs.1 lakh or more annually in the preceding year) |
BPCL SBI Card | Rs.499 | Rs.499 (Waived off on spending Rs.50,000 or more annually in the preceding year) |
BPCL SBI Card Octane | Rs.1,499 | Rs.1,499 (Waived off on spending Rs.2 lakh or more annually in the preceding year) |
Delhi Metro SBI Card | Rs.499 | Rs.499 (Waived off on spending Rs.1 lakh or more annually in the preceding year) |
Fabindia SBI Card | Rs.499 | Rs.499 (Waived off on spending Rs.1 lakh or more annually in the preceding year) |
Fabindia SBI Card SELECT | Rs.1,499 | Rs.1,499 (Waived off on spending Rs.2 lakh or more annually in the preceding year) |
IRCTC SBI Card Premier | Rs.1,499 | Rs.1499 (Waived off on spending Rs.2 lakh or more annually in the preceding year) |
OLA Money SBI Card | Nil | Rs.499 (Waived off on spending Rs.1 lakh or more annually in the preceding year) |
Paytm SBI Card SELECT | Rs.1,499 | Rs.1,499 (Waived off on spending Rs.2 lakh or more annually in the preceding year) |
Reliance SBI Card PRIME | Rs.2,999 | Rs.2,999 (Waived off on spending Rs.3 lakh or more annually in the preceding year.) |
Reliance SBI Card | Rs.499 | Rs.499 (Waived off on spending Rs.1 lakh or more annually in the preceding year.) |
TATA Card | Rs.499 | Rs.499 (Waived off on spending Rs.1 lakh or more annually in the preceding year) |
TATA Croma card | Rs.499 | Rs.499 (Waived off on spending Rs.1 lakh or more annually in the preceding year) |
TATA Star card | Rs.499 | Rs.499 (Waived off on spending Rs.1 lakh or more annually in the preceding year) |
Central Bank of India SBI Card PRIME | Rs.2,999 | Rs.2,999 (Waived off on spending Rs.3 lakh or more annually in the preceding year) |
HDFC Credit Card Fee Waive Off Conditions
PRODUCT | ANNUAL FEE (excl. GST) | PRICING OFFER for FIRST YR FEE | ACTIVATION OFFER | RENEWAL FEE WAIVER |
CSC Small Business Moneyback | Rs. 250 | Gift Voucher equivalent to First Year Membership Fee | A. Rs. 500 Gift Voucher on 2 txns within first 30 days OR B. Rs.250 Gift Voucher on 1 txn within first 30 days | Spend Rs. 25,000 |
IndianOil | Rs. 500 | Spend Rs. 50,000 | ||
Freedom | ||||
MoneyBack + | ||||
Business MoneyBack | ||||
IndiGo-6E Rewards | Rs. 700 | Not Applicable | ||
Millennia | Rs. 1,000 | Spend Rs. 1,00,000 | ||
Diners Privilege | Rs. 2,500 | Spend Rs. 3,00,000 | ||
Regalia | ||||
Business Regalia | ||||
IndiGo-6E Rewards XL | Not Applicable | |||
HDFC Bank Times Card Credit | Rs. 500 | Spend Rs. 1,50,000 | ||
HDFC Bank Times Card Credit Platinum | Rs. 1,000 | Spend Rs. 2,50,000 | ||
Shoppers Stop HDFC Bank Credit Card | Rs. 0 | Life Time Free card | Not Applicable | |
Shoppers Stop Black HDFC Bank Credit Card | Rs. 4500 | Not Applicable | Not Applicable | |
Diners Black | Rs. 10,000 | Spend Rs. 1,50,000 in 90 daysfor First Year Fee waiver | Not Applicable | Spend Rs. 5,00,000 |
Infinia (Metal Edition) | Rs. 12,500 | Spend Rs. 3,00,000 in 90 days for First Year Fee waiver | Not Applicable | Spend Rs. 10,00,000 |
Tata Neu Plus HDFC Bank Credit Card | Rs. 499 | Not Applicable | Not Applicable | Spend Rs. 1,00,000 |
Tata Neu Infinity HDFC Bank Credit Card | Rs. 1,499 | Not Applicable | Not Applicable | Spend Rs. 3,00,000 |
FAQs on Credit Card Annual Fee Waiver in India
- My annual fee was waived off for the year. Will it be waived off next year too?
If you spend up and above a certain amount on your card during the current year, then you can get your annual fee waived off next year too.
- Do all credit cards charge an annual fee?
Not every credit card charges an annual fee. In some cases, there is no annual fee charged. It depends on the type of credit card you are availing of and the benefits it offers.
- Will there be any other hidden charges if I get my annual fee waived off?
No, generally the bank will not levy any other hidden charges in case your annual fee is waived off. However, you must confirm this with your bank regarding them charging any other hidden amount if your annual fee is waived off.
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