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Credit cards allow you to carry your unpaid balance into the next billing cycle. This feature allows you to pay off your bills without taking out a loan and is preferable to converting them into EMIs or taking a loan. However, when you decide to carry forward the balance, a small interest is levied on the amount. Therefore, having a credit card with a low-interest rate can be beneficial for those looking for some expensive purchases via credit cards. Usually, interest rates in the range of 1.5% to 2.99% per month are considered low when it comes to credit cards. 

So, if you think you might want to carry the balance forward, going for a card that does not charge a high rate of interest will be the best option for you. Below you can find a list of the best credit cards that offer relatively lower rates of interest.

Best Low-Interest Credit Cards in 2022

Credit CardAnnual FeeMonthly Interest RateAnnual Percentage Rate (APR)
HDFC Bank Infinia Credit CardRs. 10,0001.99%23.88%
HDFC Diners Club Black Credit CardRs. 10,0001.99%23.88%
Kotak Privy League Signature Credit CardRs. 2,5002.49%29.88%
SBI Elite Credit CardRs. 4,9991.99%23.88%
Axis Bank Burgundy Private Credit CardRs. 50,000**1.50%19.56%
Axis Bank Magnus
Credit Card 		Rs. 10,0002.50%34.49%

*Please note that the interest rates mentioned above are subject to change at the bank’s sole discretion.

**The annual fee is Nil for Burgundy Private account holders.

HDFC Bank Infinia Credit Card

HDFC Bank Infinia Credit Card is a super-premium card offered to select customers on special invite from HDFC Bank. Best suited for high net-worth individuals (HNIs), this credit card offers benefits on multiple categories including travel, rewards, shopping, dining etc.

Suggested Read: Best Credit Cards in India for High Net Worth Individuals

1.99% per month  |    23.88% per annum

Features and Benefits

  • Complimentary Club Marriott membership for the first year
  • Unlimited airport lounge access across the globe for Primary and Add-on member
  • 5 Reward Points for every Rs. 150 spent
  • Global Personal Concierge -24 X 7
  • Lowest markup fee of 2% on all foreign currency transactions
  • Welcome Benefit of 10,000 Reward Points upon fee realization

Thinking about getting HDFC Bank Infinia Credit Card. Read our review first.

Looking for a Card that Offers Top Welcome Benefits

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HDFC Diners Club Black Credit Card

HDFC Diners Club Black Credit Card is among the best super-premium credit cards in India. Tailored to the needs of HNIs, the card offers benefits across multiple categories including travel, shopping, rewards, dining and golf. It has one of the highest default reward rates of 3.33% and a low foreign exchange mark-up fee of 1.99%. 

1.99% per month  |    23.88% per annum

Features and Benefits

  • Complimentary annual memberships of Club Marriott, Forbes, Zomato Pro, Amazon Prime, MMT Black etc.
  • Low Foreign Currency Markup fee of 1.99%
  • Complimentary golf games (6 per quarter) 
  • 5 Reward Points for every Rs. 150 retail spends
  • Air accidental death coverage: Rs. 2 Crore
  • Unlimited Airport lounge access to 1000+ Lounges in India and worldwide

Kotak Privy League Signature Credit Card

Privy League Signature Credit Card is best suited for customers looking for a host of lifestyle benefits. The card offers 5X reward points on spending on specific merchant categories.

2.49% per month  |    29.88% per annum

Features and Benefits

  • 5X reward points on categories such as apparel, grocery, consumer durable, multi-brand online and, departmental stores
  • 5X reward points on categories like hotels, airlines, international spends and travel agencies
  • 2X on all other retail spends
  • Complimentary Priority Pass Membership with 4 free visits

Looking for a Credit Card with multiple Travel Benefits?

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SBI Elite Credit Card

SBI Elite Credit Card is an all-around premium credit card that offers benefits across several categories such as travel, shopping, movies, and more. SBI Card Elite is a very rewarding card, especially if you are a large spender, with a reward rate of 2.5% (on selected categories).

1.99% per month |  23.88% per annum

Features and Benefits

  • Welcome e- Gift Voucher worth Rs. 5,000
  • Free movie tickets worth Rs. 6,000 every year
  • 5X reward points on dining, departmental stores and grocery spends
  • Complimentary Club Vistara silver membership
  • 5X reward points on dining, departmental stores and grocery spends
  • 2 reward points per Rs. 100 on all other spends, except fuel

Axis Bank Burgundy Private Credit Card

Axis Bank Burgundy Private Credit Card is made for High Net-worth Individuals (HNI). The card is provided free of cost to Burgundy Private clients. It offers many benefits to its users like no foreign transaction fee, unlimited lounge access at both domestic and international airports. 

1.50% per month |   19.56% per annum

Features and Benefits

  • 30,000 Welcome Edge Reward points on the first transaction
  • 15 EDGE REWARD points for every Rs. 200 spent 
  • 50 complimentary rounds of golf per year
  • Complimentary EazyDiner Prime membership
  • Complimentary ticket on every ticket purchased for 5 movies and 5 non-movie shows, per month, on BookMyShow
  • Unlimited lounge access at international airports for Priority Pass holders

Axis Bank Magnus Credit Card

Axis Bank Magnus credit card is a premium credit that offers lots of benefits on travelling, lifestyle, entertainment, Health & Wellness and much more. The card also does not charge a cash withdrawal fee. 

2.50% per month |  34.49% per annum

Features and Benefits

  • Up to 8 complimentary international lounge visits per year 
  • Avail discounts on stays and complimentary room upgrades across Oberoi properties
  • Buy one movie/non-movie ticket and get up to Rs.500 off on the second at BookMyShow
  • 12 Axis EDGE REWARDS Points on every Rs.200 that you spend
  • 2X Axis EDGE REWARDS Points on purchases at MakeMyTrip, Yatra, Goibibo and more
  • 25% discount at 2000+ fine dine restaurants across India (Dineout)

Looking for a Card that Offers Medical Benefits

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Advantages and Disadvantages of Low-Interest Credit Cards

ADVANTAGES
DISADVANTAGES
With such cards, the issuer may waive  the annual fee if a certain amount is spent on the card every yearUnlike other credit cards, low-interest credit cards may not offer individuals great rewards, cashback or air miles
Since the credit card carries a low-interest rate, if you choose to use the rollover credit facility, then the interest incurred on the bill will be much lesserLower interest rates are offered to HNIs to attract them. Banks provide such perks to these individuals to ensure their business comes to them
With the help of low-interest credit cards, one can pay off the accumulated credit card debt Low-interest credit cards come with high-interest rates when it comes to cash advances

Also Read: Credit Cards with No Annual Fee in India

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