Best Credit Cards Under ₹500 Annual Fee (2026)
You do not need a premium card to get real value. Several credit cards in India charge ₹500 or less a year — some are nil-fee entirely — while still offering meaningful cashback or reward rates on everyday spending.
This list compares every low-fee card in our database side by side, so you can pick based on your actual spend category instead of an inflated annual fee you may never earn back.
Facts checked: July 2026. Fees, reward rates and eligibility criteria are set by card issuers and can change at any time. Figures on this page were last checked in July 2026 — always confirm current terms on the issuer’s official page before applying.
Quick Comparison
| Card | Annual Fee | Headline Reward | Best For |
|---|---|---|---|
| SBI Card Unnati | Nil for first 4 years | 1 reward point per ₹100 spent | Students, homemakers, freelancers and anyone with no credit history |
| SBI SimplyCLICK | ₹499 + GST | 10X reward points (~5% value back) at Amazon, Cleartrip, BookMyShow and other partners | Digital-first shoppers who want a low-fee online rewards card |
| Swiggy HDFC Bank Credit Card | ₹500 + GST | 10% cashback on Swiggy app — food delivery, Instamart, Dineout, Genie (capped ₹1,500/billing cycle) | Frequent Swiggy and online-delivery users |
| IndianOil HDFC Bank Credit Card | ₹500 + GST | 5% value back as Fuel Points at IndianOil outlets (capped monthly), 5% on groceries, 5% on bill payments | Regular IndianOil fuel buyers with modest income requirements |
| Amazon Pay ICICI Bank Credit Card | Nil (lifetime free) | 5% back on Amazon.in for Prime members, 3% for non-Prime | Amazon-heavy shoppers who receive an invitation |
| Flipkart Axis Bank Credit Card | ₹500 + GST | 7.5% cashback on Myntra (capped ₹4,000/quarter) | Flipkart, Myntra and general online shoppers |
Ranked Picks
Is a Higher Fee Ever Worth It Instead?
A low fee is not automatically the cheapest card. If a premium card's fee waiver threshold is comfortably below your annual spend, and its reward rate is meaningfully higher, the extra fee can pay for itself. But for most everyday spenders, a sub-₹500 card in this list already covers online shopping, food delivery, or fuel spending without any fee risk.
The simplest test: only pick a paid card over a nil-fee one if the extra rewards you would realistically earn clearly exceed the fee difference.
How to Choose Among These Cards
FAQs
Nitin researches and writes all financial guides on Fincado, cross-checking figures against RBI circulars, official bank disclosures, and the Income Tax Act. Content on this site is independent analysis — not personalized financial advice.
Sept 2026
Source cross-check and periodic QA
Actual outcomes can vary by borrower profile, bank policy, market conditions, and future rule changes. Validate important decisions with a certified professional.
Disclaimer: This content is for educational purposes only and does not constitute financial advice or card recommendation advice. Product terms, eligibility, fees, rewards, and issuer policies can change over time. Always verify the latest schedule of charges and card terms before applying.
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