In India, many student doesn’t know that they can use credit cards, if they want money for their personal use or for education purpose. Below are the Best credit cards for students in India. A credit card is a special type of card given by a bank that allows money to be borrowed to buy things or pay for services. The money borrowed is paid back later, usually after some time. If the full amount isn’t paid by the due date, extra money, called interest, will be added.
For students, credit cards can be very useful because they help to build a credit history, which is important when applying for loans or other financial things in the future. However, it is important to use a credit card carefully. If a student spends too much or doesn’t pay on time, they might have to pay extra fees or interest.
A limit is set on the card, which is the maximum amount that can be borrowed. It’s usually not too high for students, so it helps them learn how to manage their spending. Many cards also offer rewards, like discounts or points, when used for shopping or other activities.
What is Credit Card for students?
Student credit cards are the most common cards for young people between the ages of 18 and 25. Student aid is also used to help students learn how to manage their money and start building a credit history. These cards are easier to obtain than regular credit cards, with lower charge fees and fewer requirements.
The card is used for purchases and later returned. When used properly, a good credit history can be achieved, which is helpful when you need a loan or other financial needs in the future. However, if payments are not made on time, additional fees or interest may be charged, which can quickly add to the cost. Therefore, students should use their credit cards wisely to avoid problems later on.
Best Credit Cards for student in India
| Credit Card | Eligibility | Annual Fees | Credit Limit |
|---|---|---|---|
| ICICI Bank Student Credit Card | Indian students aged 18 to 23 with a valid student ID. | First year free | ₹5,000 to ₹25,000 |
| HDFC Bank Student Credit Card | Indian students aged 18 and above, enrolled in a recognized university. | ₹500 – ₹1,000 | ₹5,000 to ₹30,000 |
| Axis Bank Insta Easy Credit Card | Students aged 18 or above with a fixed deposit with Axis Bank. | ₹0 | Based on Fixed Deposit (up to ₹10,000 or more) |
| SBI Student Plus Advantage Card | Students aged 18 to 25 years with a valid student ID. | ₹500 – ₹1,000 | ₹5,000 to ₹20,000 |
| Bank of Baroda BOB Financial Student Credit Card | Students aged 18 years and above with a Bank of Baroda account. | ₹500 – ₹1,200 | ₹5,000 to ₹25,000 |
| Kotak Mahindra Bank Essentia Student Credit Card | Students above 18 years with valid ID and admission letter from a recognized institution. | First year free | ₹5,000 to ₹15,000 |
| RBL Bank Student Credit Card | Students above 18 years with proof of enrollment in an educational institution. | ₹500 – ₹1,000 | ₹5,000 to ₹20,000 |
What is the procedure of getting credit cards for student in India?
Let me tell you it may takes few days to get credit card. You have to submit documents which particular bank want from you. Fill address form correctly so that it will be good for verification and you will get credit card on your address.
- Eligibility is checked: The age should be between 18 and 25, and a valid student ID is needed. Some banks may require proof of enrollment in a university or college.
- Application is filled: An online or offline application form is completed by the student. Basic personal details, contact information, and education details are asked.
- Documents are submitted: Proof of identity like an Aadhar card or passport or pan card and proof of enrollment in an educational institution are usually needed. Some banks may also ask for a parent’s or guardian’s income proof.
- Credit limit is decided: The bank may offer a small credit limit, especially for students, which is usually based on eligibility, income (if applicable), and the bank’s policy.
- Approval or rejection: The bank reviews the application. If everything is in order and the student meets the criteria, approval is given. Otherwise, the application may be rejected.
- Card is delivered: Once approved, the credit card is sent to the student’s address, and they can start using it.
Detailed information of Best credit cards for students in India
ICICI Bank Student Credit Card
- Eligibility: Indian students aged 18 to 23 with a valid student ID.
- Annual Fees: First year free.
- Credit Limit: ₹5,000 to ₹25,000.
- Benefits:
- Cashback on dining and entertainment.
- Zero annual fees for the first year.
- Low credit limit to help manage spending.
- Rating: 4.5/5
- Review: ICICI Bank’s Student Credit Card is praised for its low credit limit and cashback offers. It is ideal for students who want to build their credit history responsibly without overspending.
- Apply Online: ICICI Bank.
HDFC Bank Student Credit Card
- Eligibility: Indian students aged 18 and above, enrolled in a recognized university.
- Annual Fees: ₹500 to ₹1,000.
- Credit Limit: ₹5,000 to ₹30,000.
- Benefits:
- Discounts on shopping, fuel, and entertainment.
- Low-interest rates on purchases.
- Flexible credit limit based on eligibility.
- Rating: 4/5
- Review: HDFC’s Student Credit Card is known for its attractive benefits, such as discounts on shopping, fuel, and entertainment, though some students feel that the annual fee could be lower.
- Apply Online: HDFC Bank.
Axis Bank Insta Easy Credit Card
- Eligibility: Students aged 18 or above with a fixed deposit with Axis Bank.
- Annual Fees: ₹0.
- Credit Limit: Based on Fixed Deposit (up to ₹10,000 or more).
- Benefits:
- Instant approval for fixed deposit holders.
- No annual fees or hidden charges.
- Credit limit based on the fixed deposit amount.
- Rating: 4.2/5
- Review: This card is perfect for students who already have a fixed deposit with Axis Bank. It offers instant approval with no annual fees, making it a highly affordable choice.
- Apply Online: Axis Bank.
SBI Student Plus Advantage Card
- Eligibility: Students aged 18 to 25 years with a valid student ID.
- Annual Fees: ₹500 to ₹1,000.
- Credit Limit: ₹5,000 to ₹20,000.
- Benefits:
- Discounts on books, movies, shopping, and more.
- Cashback offers on food, entertainment, and dining.
- Low annual fees and flexible credit limits.
- Rating: 4/5
- Review: SBI’s Student Plus Advantage Card is popular for its discounts and cashback on essential student expenses. It’s ideal for those looking for a card with low fees and great offers.
- Apply Online: SBI.
Bank of Baroda BOB Financial Student Credit Card
- Eligibility: Students aged 18 years and above with a Bank of Baroda account.
- Annual Fees: ₹500 to ₹1,200.
- Credit Limit: ₹5,000 to ₹25,000.
- Benefits:
- Discounts on academic materials and books.
- 1% cashback on all purchases.
- Low-interest rates for students with limited income.
- Rating: 3.8/5
- Review: The Bank of Baroda card is appreciated for its cashback options and discounts on educational materials. However, the annual fees are higher compared to some other student cards.
- Apply Online: Bank of Baroda.
Kotak Mahindra Bank Essentia Student Credit Card
- Eligibility: Students above 18 years with valid ID and admission letter from a recognized institution.
- Annual Fees: First year free.
- Credit Limit: ₹5,000 to ₹15,000.
- Benefits:
- 0% EMI option for large purchases like laptops.
- Discounts and cashback on online shopping, entertainment, and travel.
- No annual fee for the first year.
- Rating: 4.3/5
- Review: This card is perfect for students looking to buy big-ticket items like laptops with the 0% EMI option. It is also loved for its discounts on entertainment and travel.
- Apply Online: Kotak Mahindra.
RBL Bank Student Credit Card
- Eligibility: Students above 18 years with proof of enrollment in an educational institution.
- Annual Fees: ₹500 to ₹1,000.
- Credit Limit: ₹5,000 to ₹20,000.
- Benefits:
- 1% cashback on all purchases.
- Discounts on dining and shopping.
- Flexible reward programs to choose from.
- Rating: 4.1/5
- Review: RBL Bank’s Student Credit Card is popular for its 1% cashback on all purchases and the flexibility in reward programs. It’s perfect for students who frequently shop or dine out.
- Apply Online: RBL Bank.
Check out the other article for mutual funds, Here
FAQs
Can students with no income get a credit card?
Yes, credit cards can be obtained by students with no income. Typically, a lower credit limit is offered to students without a regular income. Parental or guardian income may be considered, and a co-applicant might be required for approval. In some cases, a secured credit card can be issued, where a fixed deposit is used as collateral. These cards are designed to help students build credit history. Student credit cards are usually offered with low fees and special benefits, such as discounts on certain purchases.
What are the documents required for student credit card?
Below are documents are typically required for a student credit card in India, documents requirement may differ for bank to bank
- Proof of Identity: A government-issued ID such as Aadhaar card, passport, or voter ID.
- Proof of Address: Documents like a utility bill, rental agreement, or bank statement.
- Student ID: A valid student ID card from a recognized educational institution.
- Proof of Enrollment: An admission letter or a fee receipt from the educational institution.
- Passport-sized Photographs: Usually two recent passport-sized photos.
- Parental/Guardian Income Proof: If required, a parent’s income proof (like a salary slip or bank statement) may be needed if the student is applying with a co-applicant.
- Bank Account Statement: A statement from the student’s bank account may be asked for.