IndusInd bank charges 1.79% interest per month (21.48% per annum) on its Indulge credit card. Its joining fee is Rs 2 lakh plus GST. The renewal charge is Rs 10,000 plus GST. The bank waives off the renewal fee on spending of Rs 10 lakh or more in the past year. Similarly, hdfc bank charges 1.99% interest per month (23.88% per annum) on its Infinia, Infinia Metal, Diners Black Metal, Diners Black, BizzBlack Metal and HOG Diners Club credit cards. The joining/renewal fee for Diners Black Metal card is Rs 10,000 plus GST. For Infinia Metal, the charges are Rs 12,500 plus GST.
What is required to get a low interest credit card?
Low-interest rate credit cards are offered to select applicants with strong financial profiles. Usually, only net worth individuals (HNIs) or people with excellent credit scores qualify for these cards.
Banks reserve these offers for low-risk borrowers while ensuring minimum default. To be eligible, applicants must maintain a healthy credit history. Apart from this, you also have to pay your dues on time. By doing this, you will be able to get a low-interest credit card or it will be more likely to happen.
Keep these things in mind before getting a card
While choosing a low-interest card, make sure whether you will have to give up benefits like bonus reward points, cashback and special facilities offered by regular cards or not. Apart from this, also pay attention to the joining and annual fees. Before getting a card, take a good account of your needs.
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