Low-interest rate Credit Cards

Low-interest rate credit cards make large balances a little more manageable. If you carry a balance from one month to another, a low APR Credit card is a good option for you. Under Low APR Credit cards, the interest rate charged each month is low and the tenure is long. It makes keeping credit cards affordable. The interest rate ranges between 1.5% to 3% per month is considered as low-interest rate credit cards.

Benefits of low-interest credit cards:

Save more on the annual fee

These cards carrying a low-annual fee than most of the other credit cards.

Save on interest

The credit card offers you a low-interest rate, if the cardholder chooses to use the rollover credit facility, then the interest that occurred on the credit card bill is much lesser. It works best in those cases when an individual is not able to pay the entire credit card bill in one month, interest levied on the outstanding will not be exorbitant.

The lower annual percentage rate

The Low-Interest credit cards are offering a lower annual percentage rate. This enables those having credit cards with low interest to continue to get the same even after the introductory period ends.

Helpful in dealing with credit card debts

Using low-interest credit cards one can pay off the accumulated credit card debt.

Best Low-interest Credit Cards

1. HDFC Infinia Credit Card

The HDFC Infinia Credit Card is one the best low-interest rate credit card i.e.,2.5%. The HDFC Infinia credit card does not have pre-set credit card limit. It is an all-around substitute for all cash transactions and offers you limitless benefits, privileges, and offers amongst a wide range of categories.

Joining Fee – Rs 10,000

Renewal Fee- Rs 10,000

Key Highlights of HDFC Bank Infinia Credit Card

  • Enjoy complimentary airport lounge access as a part of the Priority Pass Membership and MasterCard Lounge access program.
  • Earn 5 reward points on every 150 spent
  • Best-in-class dining privileges. You can save up to a minimum of 15% across more than 3000 restaurants.
  • Complimentary membership at Club Marriott.
  • Free golf games at leading golf courses in India & exclusive access to select golf courses worldwide
  • Lowest foreign currency markup.
  • Priority customer service
  • First-class insurance policies and card protection.
  • Makes you enjoy an interest-free period of up to 50 days
  • The primary cardholder can also withdraw up to 40% of the credit limit without any cash withdrawal charges.
  • The reward points have a lifetime of 3 years from the date of accumulation.

2. YES First Exclusive Credit Card

Among all the YES bank credit cards, this card is charging one of the lowest interest rates. The interest rate per month is 1.99% and for a year is 23.99%. It is one of the best premium credit cards given to those who are earning Rs 1.50 Lakh per month. This card is great for all-around usage as it offers lounge access, movie offers, golf benefits, and much more.

Annual fee- Rs. 9,999 + GST (waived off on spending INR 6 Lakhs in a year)

Features of YES First Exclusive Credit Card

  • Earn 50,000 reward points, if a cardholder makes the first transaction done within 90 days of card issuance.
  • Get 25000 bonus reward points, if a cardholder is spending 20 Lakh annually using the card.
  • Earn 12 Reward Points per Rs. 100 spent on Travel and Dining
  • Earn 6 Reward Points per Rs. 100 spent on other categories
  • Earn 1,000 Reward Points when Registering for YES PayNow (Standing instructions facility)
  • Enjoy unlimited access to MasterCard domestic lounges.
  • Free priority pass membership and unlimited visits to international lounges.
  • Insurance coverage of Rs 3 Crore in case of demise in-flight accidents
  • Coverage for the outstanding balance on the credit card in case of death due to an accident
  • Foreign Currency mark-up fee of 1.75% of the transacted amount.

3. First Citizen Citi Credit Card

The Citi Bank in collaboration with the Shopper Stop has launched a co-brand credit card known as First Citizen Credit Card. It offers rewards and benefits to the loyal customer shopper stop. It is also one of the low-interest rate credit cards of Citi bank. The interest rate levied on this card is 2.5% per month.

Annual Fee- Rs 500( Waived off on spending Rs 30,000 on the membership year)

Cash fee- 2.5% on the amount withdrawn with subject to a minimum of Rs. 500

Features of First Citizen Credit Card

Get welcome vouchers worth Rs. 2050. Redeem vouchers in Shoppers Stop and Home Stop

Reward Points

  • Earn 7 first citizen reward points on each Rs 100 spent at Shoppers Stop for private label brands
  • Earn 5 First Citizen Reward points on Rs 100 Spent at Shoppers Stop for other brands
  • 1 First Citizen Point is earned per Rs. 100 spent elsewhere
  • Makes you save 15% on dining bills

4. HDFC Regalia Credit Card

The HDFC Regalia Cred Card is best suited for those who wish to get good value-back on all their spending in the form of reward points and, at the same time, save on their travel expenses. It is available at a low regular interest rate of 3.6% p.m. and a 2.5% cash advance fee.

Annual Fee: Rs. 2,500 (reversed on spending Rs. 3 Lakh in the previous year)

Features of HDFC Regalia Credit Card

  • On spending of minimum Rs 75000 in the first 3 months using credit card transactions, you will get a complimentary annual Zomato Pro-membership.
  • Earn get 4 reward points per Rs.150 on all retail spend, including insurance, utilities, education, and rent.
  • Milestone benefits: 10,000 bonus reward points (Rs. 5,000) on spending Rs.5 lakhs in the anniversary year.
  • low foreign exchange markup fee of 2% only
  • Travel concierge services 24x7

5. SBI Advantage Plus Credit Card

The SBI advantage plus Credit card is also one of the low-rate credit cards offered by the State bank of India levying interest 2.25%per month on the credit card bill if you are carrying it to the next month. It is a basic card offered to customers who are looking to get their first SBI credit card. This card comes at a minimum annual fee and joining fee and is specially curated for all your shopping needs. The card is accepted worldwide and offers several other benefits as well.

Annual Fee – Rs 500

Interest-free period – 45 Days

Features of SBI Advantage Plus Credit Card:

  • The SBI Advantage Plus credit card is accepted all over the world at more than 1 million MasterCard or Visa ATMs.
  • You will also be able to convert your purchases made with the SBI Advantage Plus credit card into EMI with Flexipay. The minimum purchase amount should be Rs 2500 from the credit card.
  • Avail of easy bill payment facilities
  • One of the best balance transfer credit cards in India available at the low-interest rates.
  • On a minimum transaction amount of Rs.30,000, get a discount of 10% on your international flight bookings on MakeMyTrip.

Having a credit card with a low interest rate works best for those looking to buy some expensive items through the use of credit cards.