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
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
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
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
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
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:
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.