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Managing finances and starting to build a solid credit history while studying is possible. This is what credit card for students in India are for.
Furthermore, the university period requires a balance between tuition fees, living expenses, and social life, highlighting the importance of credit cards for students in India.
However, to choose a good credit card for students in India, it’s not enough to just look at the annual fee. You need to understand the differences between deposit-backed cards, traditional credit cards, and even prepaid travel options.
In this article, you will learn how to analyze the main credit card for students in India options available in the market, comparing limits, fees, reward programs, and eligibility criteria. Knowing everything you need to apply for your card.
Deposit-Backed Credit Cards for Students
Most student credit cards in India work through a Fixed Deposit (FD).
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Basically, this is a way for banks to approach those who don’t yet have a good score. The deposit serves as collateral for the bank, and your credit limit is set as a percentage of this invested amount, which continues to earn interest.
1. IDFC FIRST WOW! Credit Card (Credit Card for Students in India)
The IDFC FIRST WOW! Credit Card is a credit card for students in India option that requires a minimum fixed deposit of ₹ 20,000, and the credit limit is equal to 100% of the invested amount.
It is a lifetime free card. You will also have a full exemption from foreign exchange conversion fees, making it ideal for those who make international online purchases or plan to travel.
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For cash withdrawals, it offers 0% interest for up to 45 days, charging only a small withdrawal fee (₹ 199 + taxes).
2. Kotak 811 DreamDifferent Credit Card
Kotak Mahindra Bank offers the Kotak 811 DreamDifferent Credit Card, a popular FD-backed credit card for students in India.
The minimum deposit required is just ₹ 5,000. The credit limit is up to 90% of the deposit amount.
This card also has no annual fee or joining fee.
You will also get 4 reward points for every ₹ 100 spent online and 1 point for every ₹ 100 on other purchases.
Benefits include a 1% fuel surcharge waiver and railway surcharge waiver.
You can also withdraw up to 90% of the limit, with interest-free withdrawals for up to 48 days. Although there is still a fixed withdrawal fee of ₹ 300 for every ₹ 10,000 withdrawn.
3. Axis Bank Insta Easy Credit Card
The Axis Bank Insta Easy Credit Card requires a minimum deposit of ₹ 20,000.
As a rule, the credit limit reaches 80% of the principal FD amount.
An advantage of this credit card for students in India is guaranteed approval, as it is directly linked to your fixed deposit.
Although it has a joining fee and annual fee (₹ 3,000 + taxes, waived for Burgundy customers), it offers 50 days of interest-free credit on purchases.
The rewards program is good, with 6 points for every ₹ 200 spent domestically and 12 points for every ₹ 200 on international spending. Plus discounts at partner restaurants.
4. Paisabazaar Step Up Credit Card (Credit Card for Students in India)
The Paisabazaar Step Up Credit Card, issued by SBM Bank, also requires an extremely low initial minimum deposit, starting from just ₹ 2,000.
The credit limit is up to 90% of the deposited amount, and the FD yields up to 6.5% per year.
As a rule, this credit card for students in India is lifetime free, depending on the FD amount.
With this bank, you will have instant issuance of the virtual card via the app. You also get 1 reward point for every ₹ 100 spent.
Other credit card options for students
In addition to deposit-backed cards, there are credit card for students in India products aimed at specific profiles or general-use cards that students with a good profile can obtain.
5. SBI Student Plus Advantage Card
The SBI Student Plus Advantage Card is specifically for students with a student loan with the State Bank of India (SBI) or by opening a Fixed Deposit.
It offers zero annual fee in the first year, with a renewal waiver if you spend ₹ 35,000 in the year.
The points program is interesting. In some categories, you receive 10 cash points for every ₹ 100 spent at supermarkets and department stores.
6. ICICI Bank Coral Credit Card (Credit Card for Students in India)
The ICICI Bank Coral Credit Card is a general-use credit card that may be accessible to students with a slightly stronger financial profile or a history of relationship with the bank. The limit is variable, and eligibility is not strictly based on FD.
It charges a joining fee and annual fee of ₹ 500 (waived if you spend ₹ 1.5 lakh in the year). The lifestyle benefits are attractive, including a 25% discount on movie tickets at BookMyShow and free access to domestic airport lounges per quarter.
Comparative Table of Credit Cards for Students in India
Below is a direct comparison of the main credit cards and the prepaid card relevant to the audience looking for a credit card for students in India:
| Card (Bank) | Minimum Fixed Deposit (FD) | Credit Limit (%) | Annual Fee / Joining Fee | International Exchange Rate | Main Highlight |
| IDFC FIRST WOW! (IDFC FIRST) | ₹ 20,000 | 100% of FD | Lifetime Free | 0% (Zero Fee) | Maximum deposit limit and zero fee for international spending. |
| Kotak 811 #DreamDifferent (Kotak Mahindra) | ₹ 5,000 | Up to 90% of FD | Lifetime Free | 3.5% | Low initial deposit and good online reward points. |
| SBI Student Plus Advantage (SBI) | Depends on FD/Loan | Variable (Up to 80% Withdrawal) | ₹ 500 (1st year free) | 3.5% (Typical) | Strong rewards at supermarkets and department stores. |
| Axis Bank Insta Easy (Axis Bank) | ₹ 20,000 | Up to 80% of FD | ₹ 3,000 + Taxes | 3.5% | Higher reward points on international spending and guaranteed approval. |
| Paisabazaar Step Up (SBM Bank) | ₹ 2,000 | Up to 90% of FD | Lifetime Free (Conditional) | N/A | Lowest minimum deposit in the market; ideal for building credit. |
| ICICI Bank Coral (ICICI Bank) | No FD Required (Variable) | Variable (20% Withdrawal) | ₹ 500 (Waived by spending) | 3.5% | Movie discounts and airport lounge access. |
| HDFC ISIC Student ForexPlus (HDFC Bank) | N/A (Prepaid) | N/A | ₹ 300 (Issuance) | 3% | International ISIC card and robust travel insurance. |
Conclusion
A credit card for students in India is not just a spending tool, but the foundation of your adult financial life. We analyzed the best options, from the IDFC FIRST WOW! with its zero exchange rate policy and 100% FD limit. To the accessible Paisabazaar Step Up, with its minimum deposit of ₹ 2,000.
The most important step now is to choose the card that best suits your reality: a low initial deposit for those just starting, or an exchange rate waiver for those who buy abroad. Remember, responsible use and full payment of the balance every month are key to building an excellent credit score.
In addition to the cards mentioned, other options that may be interesting are credit cards for beginners in India. This way, you’ll get a card with more benefits.