5 Credit Cards With Low Interest Rates in India 2023
Credit cards have become an integral part of our lives, allowing us to make purchases without the need for cash. However, one of the biggest concerns with credit cards is the high-interest rate that comes with them. High-interest rates can quickly add up and become a significant financial burden for credit card users. Fortunately, there are several credit cards with low-interest rates available in India that can help individuals save money on interest charges and manage their finances more effectively. In this essay, we will explore the top 5 credit cards with low-interest rates in India in 2023.
1. HDFC Bank MoneyBack Credit Card
The HDFC Bank MoneyBack Credit Card is a popular choice for individuals looking for a credit card with a low-interest rate. The card comes with an interest rate of 3.5% per month or 42% per annum, which is relatively lower than many other credit cards in India. Additionally, the card offers cashback rewards on purchases, with 2 reward points earned for every Rs. 150 spent. The reward points can be redeemed for cashback or other rewards, making the card a great choice for those looking to save money while also earning rewards.
2. ICICI Bank Instant Platinum Credit Card
The ICICI Bank Instant Platinum Credit Card is another credit card with a low-interest rate that can help individuals save money on interest charges. The card comes with an interest rate of 2.49% per month or 29.88% per annum, which is one of the lowest rates available in India. Additionally, the card comes with no annual fee and offers several benefits such as fuel surcharge waivers, discounts on dining and shopping, and more.
3. SBI SimplySAVE Credit Card
The SBI SimplySAVE Credit Card is a popular choice for individuals who want a low-interest credit card that offers rewards and benefits. The card comes with an interest rate of 3.35% per month or 40.2% per annum, which is relatively lower than many other credit cards in India. Additionally, the card offers 10x rewards points on dining, movies, groceries, and departmental store spends, making it a great choice for those looking to earn rewards while also saving money on interest.
4. Axis Bank MY Zone Credit Card
The Axis Bank MY Zone Credit Card is another credit card with a low-interest rate that can help individuals save money on interest charges. The card comes with an interest rate of 2.50% per month or 30% per annum, which is one of the lowest rates available in India. Additionally, the card offers cashback rewards on purchases, with 4 reward points earned for every Rs. 200 spent. The reward points can be redeemed for cashback or other rewards, making the card a great choice for those looking to save money while also earning rewards.
5. Citibank Cashback Credit Card
The Citibank Cashback Credit Card is a great choice for individuals who frequently use their credit card for everyday transactions. The card comes with an interest rate of 3.25% per month or 39% per annum, which is relatively lower than many other credit cards in India. Additionally, the card offers cashback rewards on purchases, with up to 5% cashback on movie tickets, telephone bills, and utility bill payments. The card also offers several other benefits such as fuel surcharge waivers, dining and shopping discounts, and more.
Conclusion
In conclusion, credit cards with low-interest rates can help individuals save money on interest charges and manage their finances more effectively. The HDFC Bank MoneyBack Credit Card, ICICI Bank Instant Platinum Credit Card, SBI SimplySAVE Credit Card, Axis Bank MY Zone Credit Card, and Citibank Cashback Credit Card are five credit cards with low-interest rates in India in 2023 that can help individuals save money on interest charges while also offering several rewards and benefits. Before applying for any credit card, it’s important to carefully review the terms and conditions, fees, and interest rates to ensure that the card is a good fit for your financial needs and goals. By selecting the right credit card with a low-interest rate, individuals can effectively manage their finances, avoid excessive debt, and improve their overall financial health.
