Best credit card in india with lowest interest rate

Credit cards with low interest rates are ideal for users who occasionally carry a balance and want to minimize interest costs. Unlike regular credit cards with high APRs, low-interest credit cards offer cheaper EMIs, affordable cash withdrawals, and reduced finance charges.

If you often revolve your balance or make large purchases on credit, choosing a low-interest credit card can help you save significantly on interest payments.

 Looking for more savings? Check out No Annual Fee Credit Cards for cost-effective options.

Top Low-Interest Credit Cards in India

Here are some of the best low-interest credit cards available in India:

1 SBI SimplySAVE Credit Card

 Interest Rate: 3.35% per month (40.2% annually)
 Annual Fee: Rs 499 (Waived on spending 1 lakh annually)
 10X reward points on dining, groceries, and movies
 1% fuel surcharge waiver
 2000 bonus reward points on spending 2,000 in 60 days

 Read more: SBI Credit Cards Comparison

2 ICICI Bank Platinum Chip Credit Card

 Interest Rate: 2.99% per month (35.88% annually)
 Annual Fee: Rs 0 (Lifetime Free)
 Zero annual fees and low finance charges
 2 reward points per 100 spent
 Contactless payments for quick transactions

 Read more: Best No Annual Fee Credit Cards

3 HDFC Bank MoneyBack+ Credit Card

 Interest Rate: 3.49% per month (41.88% annually)
 Annual Fee: Rs 500 (Waived on spending 50,000 annually)
 5X reward points on online transactions
500 gift voucher on spending 50,000 in a quarter
 Cashback on EMI transactions

 Read more: Best Credit Cards for Online Shopping

4 Axis Bank Insta Easy Credit Card

 Interest Rate: 2.50% per month (30% annually)
 Annual Fee: Rs 0 (Lifetime Free)
 Secured credit card with low interest rates
 No income proof required – issued against a fixed deposit
 15% discount at partner restaurants

 Read more: Best Credit Cards for Beginners

5 Kotak Mahindra League Platinum Credit Card

 Interest Rate: 3.10% per month (37.2% annually)
 Annual Fee: Rs 499 (Waived on spending 50,000 annually)
 8X reward points on online shopping and dining
 Fuel surcharge waiver on transactions above 500
 Low-interest EMI options on high-value purchases

 Read more: Best Shopping Credit Cards

How to Choose a Low-Interest Credit Card?

When selecting a low-interest credit card, consider the following factors:

1 APR (Annual Percentage Rate)

• Choose a card with a low monthly interest rate (below 3.5%) for cost-effective borrowing.

2 Annual Fees & Charges

• Some low-interest cards come with annual fees, but many offer waivers based on spending.

3 Balance Transfer Facility

• Look for 0% or low-interest balance transfer options to consolidate debt affordably.

4 EMI Conversion Options

• Some cards allow big-ticket purchases to be converted into low-interest EMIs.

5 Additional Benefits

• Check for reward points, cashback, lounge access, and fuel surcharge waivers that add value.

 Pro Tip: If you often carry a balance, opt for a card with low interest and no annual fees to minimize costs.

FAQs: Best Low-Interest Credit Cards

1. What is the lowest interest rate on credit cards in India?
The lowest interest rate on credit cards in India starts from 2.50% per month (30% annually), available on secured cards like the Axis Bank Insta Easy Credit Card.

2. Can I reduce the interest rate on my existing credit card?
Yes, you can negotiate with the bank, maintain a good credit score, or opt for a balance transfer to a lower-interest credit card.

3. Do low-interest credit cards have an annual fee?
Some low-interest credit cards have annual fees, but many offer a waiver if you meet spending criteria.

4. How does a low-interest credit card save money?
It reduces the finance charges on unpaid balances and allows you to pay off debt at a lower cost compared to standard credit cards.

5. Can I convert my credit card dues into EMI on a low-interest card?
Yes, most low-interest credit cards offer EMI conversion with rates lower than regular credit cards.

6. Who should apply for a low-interest credit card?
These cards are best for those who carry a balance occasionally, want affordable EMIs, or need low-cost cash withdrawals.

7. How can I apply for a low-interest credit card?
You can apply online by comparing the best low-interest cards and submitting your application on EaseMyDeal.

 Apply now: EaseMyDeal Credit Card Application