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Credit cards allow you to carry your unpaid balance into the next billing cycle, enabling you to pay off your bills without taking a loan. However, when you decide to carry forward the balance, a small interest is levied on the amount. Therefore, owning a low interest rate credit card can be beneficial for those who rely on credit cards for making expensive purchases. 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 with low interest rates.

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Best Low Interest Credit Cards in November 2024

IDFC FIRST Wealth Credit Card

idfc-first-wealth-credit-card
3.5/5

Joining fee: ₹0

Annual/Renewal Fee: ₹0

Up to 10x rewards on every spend

Up to 8 international & 8 domestic airport lounge & spa access in a year

Travel
Reward Points
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Product Details

  • Low forex mark-up of 1.5%
  • Buy 1 get 1 offer with up to Rs. 250 off twice a month on movie tickets on Paytm app
  • Up to 20% off at partner restaurants & up to 15% off at select health & wellness outlets
  • Complimentary golf round per Rs. 20,000 monthly spends, up to 2 rounds/month
  • Complimentary airport meet & greet, airport transfers, concierge, & premium benefits at select luxury hotels
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Axis Bank Burgundy Private Credit Card

burgundy-private-credit-card
3/5

Joining fee: ₹50000

Annual/Renewal Fee: ₹50000

Unlimited domestic & international airport lounge access

Complimentary EazyDiner Prime, Club Marriott, Accor Plus and Taj Epicure memberships

Travel
Lounge Access
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Product Details

  • Free EazyDiner Prime Membership for savings up to 40% at fine dining restaurants
  • 50 rounds of golf per year for free
  • Free ticket for every movie/non-movie ticket bought through BookMyShow, applicable 5 times for movies and 5 times for non-movie events
  • 8 free airport visits every year
  • Complimentary Club Marriott, Accor Plus, and Taj Epicure memberships
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HDFC Infinia Credit Card Metal Edition

infinia-credit-card
4/5

Joining fee: ₹12500

Annual/Renewal Fee: ₹12500

Unlimited airport lounge access for primary and add-on members

10x reward points on travel and shopping spends on Smartbuy

Travel
Reward Points
Check Eligibility

Product Details

  • 1 RP = 1 Air Mile or Rs. 1 for travel bookings, Apple products and Tanishq vouchers purchased via SmartBuy
  • Invite-only card with Club Marriott membership and 12,500 reward points on card activation & renewal
  • 5 reward points on every Rs. 150 spent, including spends on insurance, utilities and education​
  • Access to unlimited golf coaching in India & golf games across the world with 2% forex mark-up fee
  • Book 3 nights stay at participating ITC hotels and pay for 2 with 1+1 complimentary weekend buffet
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HDFC Diners Club Black Credit Card

hdfc-diners-club-black-credit-card
4/5

Joining fee: ₹10000

Annual/Renewal Fee: ₹10000

Unlimited airport lounge access for primary and add-on members

High base rewards rate of 3.33% with 5 reward points per Rs. 150 spent

Travel
Reward Points
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Product Details

  • Up to 10X reward points on SmartBuy and 2X on weekend dining with up to 1:1 redemption ratio
  • Annual memberships of Club Marriott, Forbes, Amazon, Swiggy One (3 months) and MMT BLACK on joining
  • Low forex markup fee of 2% and renewal of annual complimentary memberships on Rs. 8 lakh annual spends
  • Any 2 vouchers of Rs. 500 from Ola cabs, cult.fit Live, BookMyShow, or TataCliQ on Rs. 80,000 monthly spends
  • 6 complimentary golf games in a calendar quarter
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Kotak Privy League Signature Credit Card

privy-league-signature-credit-card
3/5

Joining fee: ₹0

Annual/Renewal Fee: ₹2500

5X rewards on everyday categories & international spends

Complimentary Priority Pass membership with free lounge visits

Lounge Access
Reward Points
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Product Details

  • 6,400 reward points on monthly spend of Rs. 1,000
  • Up to Rs. 2.5 lakh as insurance against unauthorised transactions
  • 1% fuel surcharge across all petrol pumps in India on transactions between Rs. 400 to Rs. 4,000
  • 1.8% to 2.5% railway surcharge waiver on booking tickets through www.irctc.co.in or Indian Railways booking counter
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YES Bank RESERV Credit Card

yes-first-exclusive-credit-card
4/5

Joining fee: ₹1999

Annual/Renewal Fee: ₹1999

Up to 12 domestic & 6 international airport lounge access per year

24 YES Rewardz Points per Rs. 200 online spend and 12 on offline spends

Lounge Access
Reward Points
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Product Details

  • 6 YES Rewardz Points per Rs. 200 spent on other categories; Low forex mark-up fee of 1.75%
  • 8,000 reward points on renewal fee payment
  • 25% off up to Rs. 250 per month on BookMyShow movie tickets
  • 4 complimentary rounds of green fees per year (1 per month), 1 golf game per month at select golf courses
  • Choice to subscribe to 3X/5X rewards plans by paying Rs. 3,500/Rs. 5,000 per year
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Axis Magnus Credit Card

magnus-credit-card
3.5/5

Joining fee: ₹12500

Annual/Renewal Fee: ₹12500

Unlimited international & domestic lounge visits with 4 additional guest visits

Up to 60 EDGE reward points per Rs. 200

Travel
Reward Points
Check Eligibility

Product Details

  • Low forex mark-up fee of 2%
  • Conversion of rewards into Air Miles or Hotel Loyalty points (5:2)
  • Luxe gift card/ The Postcard Hotels/ Yatra voucher worth Rs. 12,500 on making the first transaction within 30 days from card issuance
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Top Credit Cards in India | Check Pre-approved Card Offers | Pros & Cons of Low Interest Credit Cards

1. IDFC FIRST Wealth Credit Card

Joining/ Annual Fee: Nil

Interest Rate: 0.75% to 3.5% per month (9% to 42% per annum)

IDFC FIRST Wealth is a lifetime free credit card offering benefits across multiple categories, including dining, movies, shopping, and more. This credit card can be ideal for individuals looking for an all-rounder credit card and do not want to pay an annual fee. Here are some of the major features and benefits of credit card with lowest interest rate:

Features & Benefits of IDFC FIRST Wealth Credit Card

  • Gift vouchers worth Rs. 500 on spending Rs. 15,000 within 90 days of card set-up
  • 5% cashback (up to Rs. 1,000) on your first EMI transaction made within 90 days of card set-up
  • 6X reward points on online purchases for spends up to Rs. 30,000 per month
  • 3X reward points on offline purchases for spends up to Rs. 30,000 per month
  • 10X reward points on incremental spends above Rs. 30,000 per month
  • 10X reward points on birthday spends
  • 3X reward points on rental and property management transactions
  • Low forex markup fee of 1.5%
  • 4 complimentary domestic & international airport lounge and spa visits per quarter, on minimum monthly spends of Rs. 5,000
  • ‘Buy one, get one’ offer on movie tickets up to Rs. 500 on Paytm mobile app (valid twice per month)

2. Axis Bank Burgundy Private Credit Card

Joining/ Annual Fee: Rs. 50,000 (Nil for Burgundy Private Customers)

Interest Rate: 1.5% per month (19.56% per annum)

Axis Bank Burgundy Private Credit Card is a super premium credit card best suited for high-net-worth individuals. The card is offered at no joining or annual fees to Burgundy Private customers. Premium benefits like complimentary memberships, lounge visits, and no forex markup interest fee make this card a suitable choice for individuals looking for a card to enhance lifestyle benefits. Below are the key features and benefits of one of the best low interest credit cards:

Features & Benefits of Axis Bank Burgundy Private Credit Card

  • 15 EDGE Reward Points for every Rs. 200 spent
  • Free EazyDiner Prime Membership for savings up to 40% at fine dining restaurants
  • Up to 20% savings at partner restaurants across India
  • Complimentary 50 rounds of golf per year
  • Free ticket for every movie/non-movie ticket bought through BookMyShow, 5 times for movies and 5 times for non-movie events
  • Unlimited domestic and international lounge access with 12 free guest visits per card
  • Complimentary Club Marriott, Accor Plus and Taj Epicure memberships
  • Up to 20% off and other privileges at Postcard hotels

3. HDFC Infinia Credit Card Metal Edition

Joining/ Annual Fee: Rs. 12,500

Interest Rate: 1.99% per month (23.88% per annum)

HDFC Infinia Credit Card Metal Edition is a super premium invite-only credit card that is offered to select customers of HDFC Bank. This credit card is best suited for people looking for an option to avail benefits across multiple categories, be it travel, shopping, dining, or lifestyle. High-spenders who frequently travel can make the most out of rewards program offered on this card. Here are some of the major benefits of one of the best low interest rate credit cards:

Features & Benefits of HDFC Infinia Credit Card Metal Edition

  • Complimentary Club Marriott membership for a year that offers up to 20% discount on dining and stays across the Asia-Pacific region
  • 12,500 reward points upon fee realization and card activation
  • 5 reward points on every Rs. 150 on retail
  • 10X reward points on your travel and shopping spends on SmartBuy
  • Unlimited complimentary lounge access at airports within and outside India at airport lounges under the Priority Pass Program
  • Unlimited complimentary golf games at leading courses across India and select courses across the world
  • Unlimited complimentary golf coaching at select golf courses across India
  • Low forex mark-up fee of 2%
  • Book stay for 3 nights and pay for two at participating ITC Hotels
  • 1+1 complimentary weekend buffet at participating ITC Hotels

4. HDFC Diners Club Black Credit Card

Joining/ Annual Fee: Rs. 10,000

Interest Rate: 1.99% per month (23.88% per annum)

HDFC Diners Club Black Credit Card offers benefits across multiple categories, including travel, shopping, rewards, dining, and golf. This credit card offers the highest base reward rate of 3.33%, making it a suitable option for high spenders. Also, benefits like unlimited lounge visits and a low forex markup fee make it a suitable option for frequent travellers. Read below to know more about this credit card with low interest rate:

Features & Benefits of HDFC Diners Club Black Credit Card

  • Complimentary annual memberships of Club Marriott, Forbes, Amazon Prime, Dineout Passport, MMT BLACK and Times Prime by spending Rs. 1.5 lakh within the first 90 days or upon first-year fee realization
  • 2 monthly vouchers from Ola Select membership or cure. fit Live 1-month membership or BookMyShow or TataCLiQ worth Rs. 500 each, every month on spends of Rs. 80,000
  • 5 reward points for every Rs. 150 spent
  • Up to 10X reward points on SmartBuy spends
  • Unlimited airport lounge access worldwide for both primary and add-on user
  • Low foreign exchange mark-up fee of 1.99%
  • Complimentary golf games per quarter across the finest courses in the world

5. Kotak Privy League Signature Credit Card

Joining/ Annual Fee: Rs. 2,500

Interest Rate: 2.49% per month (29.88% per annum)

Kotak Privy League Signature Credit Card is a premium credit card offering benefits like Priority Pass membership, free PVR movie tickets, and so forth. However, this credit card is offered only to customers who have maintained a Privy League relationship with the bank. This is a suitable option for individuals looking for a credit card that offers decent value back through rewards. Some of the major features and benefits of one of the best low interest credit card are as follows:

Features & Benefits of Kotak Privy League Signature Credit Card

  • 5 reward points for every Rs. 100 spent apparels, grocery, consumer durables, departmental stores, airlines, hotels, duty free, international spends and travel agencies transactions
  • 2 reward points for every Rs. 100 spent on other categories
  • Complimentary Priority Pass Membership with 4 international lounge visits every year
  • Up to 4 free PVR movie tickets per quarter on spending Rs. 1,000 per month

6. YES FIRST Reserv Credit Card 

Joining/ Annual Fee: Rs. 1,999

Interest Rate: 2.99% per month (35.88% per annum)

YES FIRST Reserv Credit Card offers rewards and lifestyle benefits along with travel benefits like international and domestic lounge access. This is a well-suited option for people who are looking for a credit card with shopping and lifestyle-related benefits. With this card, individuals can earn rewards on all purchases and redeem them for hotel/ flight bookings or products available under the YES Bank’s catalogue. Below are some of the major features and benefits of this credit card with lowest interest rate:

Features & Benefits of YES FIRST Reserv Credit Card

  • 24 reward points per Rs. 200 spent on online shopping, except on select categories
  • 12 reward points per Rs. 200 spent on offline shopping, except on select categories
  • 6 reward points per Rs. 200 spent on select categories
  • Up to 12 complimentary domestic airport lounge access per year for primary cardholders
  • 6 complimentary international lounge access per year for primary cardholders
  • 4 complimentary green fee waivers per year at select golf courses in India
  • 1 complimentary golf lesson in a year at select golf courses in India
  • 8,000 bonus reward points if renewal fee is charged without being waived off
  • Low foreign currency exchange mark-up fee of up to 1.75% on international transactions

8. Axis Magnus Credit Card

Joining/ Annual Fee: Rs. 12,500

Interest Rate: 3.0% per month (42.58% per annum)

Axis Magnus Credit Card comes with a reward rate of up to 6% along with benefits across various categories, such as travel, entertainment, dining, and more. Premium benefits like low forex markup fee, unlimited lounge visits with additional guest visits, and airport concierge services make it a suitable option for high-end travellers. Indian residents with a minimum annual income of Rs. 18 lakh can apply for this premium credit card. Here are some of the major benefits offered by this low interest credit card:

Features & Benefits of Axis Magnus Credit Card

  • Luxe gift card/ The Postcard Hotels/ Yatra voucher worth Rs. 12,500 on making the first transaction within 30 days from card issuance
  • 12 EDGE reward points on every Rs. 200 spent on cumulative monthly spends of up to Rs. 1.5 Lakh
  • 35 EDGE reward points per Rs. 200 spent above cumulative monthly spends of Rs. 1.5 Lakh
  • 60 EDGE reward points per Rs. 200 spent on Travel EDGE portal up to cumulative monthly spends of Rs. 2 Lakh
  • 35 EDGE reward points per Rs. 200 spent on Travel EDGE portal above monthly spends of Rs. 2 Lakh
  • Unlimited complimentary international lounge visits with Priority Pass with 4 additional guest visits per year
  • Unlimited visits to select domestic airport lounges for both primary and add-on cardholders. W.e.f. from May 1, 2024, this is subject to spending Rs. 50,000 in the previous three months
Advantages and Disadvantages of Low Interest Credit Cards
Advantages and Disadvantages of Low Interest Credit Cards

Here are some of the advantages and disadvantages of owning credit cards with low interest rates:

Advantages Disadvantages
With such cards, the issuer may waive  the annual fee if a certain amount is spent on the card every year Most low interest rate credit cards have an high annual fee
Since the credit card carries a low-interest rate, if you choose to use the roll-over credit facility, then the interest incurred on the bill will be much lesser Lower 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 In general, low-interest credit cards come with high-interest rates when it comes to cash advances

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