List of credit cards for students in India

Business

19 Dec 2018

#FinancialBytes: 5 best credit cards for students in India

Credit cards have become an essential part of our lives today because of the convenience they offer.

Student credit cards, designed specifically to address students' needs, are quite new to the industry. In India, however, banks issue credit cards to students either against fixed deposits/savings accounts, as add-on cards, or to education loan customers.

Here are 5 credit cards students can apply for.

#1

SBI Student Plus Advantage Credit Card

SBI Student Plus Advantage Credit Card

State Bank of India offers "SBI Student Plus Advantage Card", an exclusive credit card issued to the education loan customers of the bank. It offers a range of features and benefits for students.

Cardholders can get 1 Reward Point for every Rs. 100 spent, 2.5% value back, 10X Reward Points on departmental/grocery store spends, 2.5% fuel surcharge waiver, annual fee waiver, EMI facility, etc.

#2

Axis Bank's Insta Easy Credit Card

Axis Bank's Insta Easy Credit Card is another good option students can apply for. It is issued to majors against a fixed deposit of Rs. 20,000-25,00,000 at any branch.

The zero-fee card offers a credit limit of up to 80% of FD's principal value.

Customers can enjoy 15% discount at partner restaurants (Dining Delights), 1% fuel-surcharge waiver, convert-to-EMI facility, eDGE Loyalty Reward points, etc.

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#3

State Bank of India's Unnati Credit Card

State Bank of India's Unnati Credit Card

Students can also go for State Bank's "SBI Card Unnati", which is also a credit card issued against a fixed deposit of Rs. 25,000 or more.

It is free (zero fees) for the first four years. Cardholders can get 1 Reward Point per Rs. 100 spent, Rs. 500 cashback on Rs. 50,000-worth spends or more in a year, and 1% fuel surcharge waiver.

#4

ICICI Bank's Instant Platinum Credit Card

ICICI Bank also offers the "Instant Platinum Credit Card" issued against fixed deposits. The minimum Fixed Deposit amount required is Rs. 20,000.

There is no joining fee, annual charges, or supplementary card fee.

Cardholders can earn PAYBACK Points for transactions and enjoy 15% savings on dining (Culinary Treats), Rs. 100/month off on BookMyShow movie tickets, a low-interest rate of 2.49% per month, etc.

#5

Kotak Mahindra Bank's Aqua Gold Credit Card

Kotak Mahindra Bank's Aqua Gold Credit Card

Students can also apply for Kotak Mahindra Bank's "Aqua Gold Credit Card" issued against a minimum term deposit amount of Rs. 25,000.

There is no joining/annual fee. It offers a credit limit upto 80% of the term deposit amount, fuel surcharge waiver of Rs. 500-3,500, free PVR movie tickets (on Rs. 1,50,000-worth spends in a year), Railway surcharge waiver of upto Rs. 500, etc.

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