10 Best Credit Cards for People Having Annual Income Below Rs.5 Lakhs

Having Credit Cards can be quite helpful, especially when you don’t have the funds at the moment for something you need to buy. However, with a low income, having a Credit Card can be a little difficult.

However, there are a few banks and non-banking financial companies (NBFCs) that offer Credit Cards even if you have a low income. Here is a list of 10 Best Credit Cards in India that you can use, even if you have a low monthly or annual income:

  1. SBI UnnatiCredit Card

Wouldn’t it be great not to have to pay any fee to have a Credit Card? Well, SBI ensures that you get that benefit with this Credit Card. It is free for the first four years and also gives you other benefits like a reward point for every Rs.100 spent and milestone rewards. There is also a 1% fuel surcharge waiver along with a fixed deposit account that is opened along with the issuing of the SBI Credit Card. This ensures that you are secured with your Credit Card as well.

  1. Axis Bank Insta Easy Credit Card

Here’s another Credit Card that comes with guaranteed approval, even if you have a low income. Your purchases can easily be converted into EMIs,and you can also earn reward points for royalty. This Credit Card also gives you free credit for 50 days along with cash withdrawal up to 100%.

  1. SBI Advantage Plus Card

Here is yet another SBI Credit Card for people with a low income. This Credit Card can be used in more than 24 million outlets across the globe and also comes with the feature of opening an FD like the previous one. You can enjoy up to 100% withdrawal and also convert your transactions into EMIs. This SBI Credit Card also allows you to get add-on cards for your family members as well. Your FD will also get an interest of 9.25% for 555 days. 

  1. Vijaya Bank Gold Credit Card

This Credit Card is also great in case you have a low income. While the cash withdrawal is restricted to 50%, you can get up to Rs.5 Lakhs of credit sanctioned on this Credit Card. You can also get add-on Credit Cards along with this for your loved ones, and they will be able to withdraw up to Rs.5,000 in cash. However, to be able to get this Credit Card, you will need to have an account at Vijaya bank along with an FD of at least Rs.1 Lakh. But the best part is, you can store your savings in the FD while you use the Credit Card for your needs.

  1. Kotak Fortune Gold Card

Kotak Mahindra is known to have a great user-friendly app along with quite a few benefits when it comes to their Credit Cards. Some of the best features of this Credit Card are that you can get additional cards along with a balance transfer facility. It comes with a shield insurance cover, allowing you to stay protected while you use your Credit Card. You can also get 4 tickets in PVR for free if your overall spending for a calendar year exceeds Rs.1.5 Lakhs.

  1. Canara Visa Classic

This is one of the best Credit Cards in India to have if you have an annual income as low as Rs.1 Lakh per year. The minimum credit limit on this Credit Card is Rs. 10,000 and you also get an SMS alert facility with it. The maximum credit limit on this card is determined with your annual income. A good credit history is also quite beneficial when applying for this Credit Card.

  1. Bank of India Visa Gold Card International Card

This Credit Card is a great option if you have an income as low as Rs.12,500 per month. You can convert your purchases into EMIs and pay it over the next 36 months. You also get a concession on the premium of medical insurance up to Rs.5 Lakhs. You can transfer your outstanding balance from other Credit Cards into this one with a maximum spending limit of 75%. There is also a revolving credit facility that allows you to pay just 10% of the Credit Card bill before the due date.

  1. RuPay Platinum by Andhra Bank

This is a globally accepted Credit Card that can be used at merchant outlets, mail orders, teleshopping, and even online purchases. You also get the option of getting personal accident insurance with a cover of up to Rs.10 Lakhs at affordable premium prices. Additional cardholders can get up to Rs.5 Lakhs of insurance coverage. You also get a waiver of the joining fee for the first year and a waiver on the annual fees if you spend more than Rs.30,000 annually.

  1. SBI SimplyCLICKCredit Card

SBI ensures that you get the best of benefits when using a Credit Card, even if you have a low income. This SBI Credit Card is perfect if you like shopping or simply need to buy things regularly to keep yourself from spending from your pocket. You can avail milestone awards like e-vouchers and also get a 1% fuel surcharge waiver every time you need to refuel. What’s also great is that you can simply wave this Credit Card on the reader and the transaction can be processed.

  1. Bharat Card by Indian Bank

This is another low-cost Credit Card where you need to have a minimum income requirement of just Rs. 5,000 per month. You also get a revolving credit of up to Rs. 20,000 and other benefits like a personal accident, hospitalisation, and purchase protection covers.

While having Credit Cards is a great help, make sure that you pay your Credit Card bills on time. It’s always best to pay the full amount whenever you can to avoid getting charged interest rates on your outstanding bill amounts as well.

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Sam Bawa is a writer and Editor. He start Douczer.org at 2015. Douczer is general news site, where any one read latest and trending news story Daily.

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