Top10 Best Student Credit Cards in India 2023

February 13, 2023


College students pursuing their degrees in educational institutions of India can avail of student credit cards specifically designed to cater to their requirements. These student credit cards can be availed of by any student who has reached the age of 18. The applicants for the student credit card are not required to produce any income proof to apply for the same. Generally, these cards are valid for up to five years, and the banks also offer lower interest rates owing to the target audience.

Best Student Credit Cards in India 2023

Credit Card Annual Fee Feature Offered
SBI Student Plus Advantage Credit Card Rs 500 The credit card holder can utilize the reward points. One can earn one reward point over every transaction of Rs 100.
ICICI Bank Student Forex Card Rs 199 20% Discount on courier service. And a 40% excess baggage discount.
Kotak 811 #Dream Different Credit Card Nil Avail of Credit Limit of up to 90% on the fixed deposit amount
ICICI Coral Contactless Credit Card Rs 500 Can earn 2 reward points on every Rs 100 spent
Bihar Student Credit Card No Annual Fee A government scheme launched to provide financial assistance to students
West Bengal Student Credit Card No Annual Fee Lucrative interest rates to the student so that they can pursue higher education
HDFC Forex Plus Card Rs 500 to Rs 700 (Might differ in Premium cards) ●     Lounge Access ●     Travel Insurance (Premium Card)
HDFC Multi Currency ForexChip Plus Chip Card No Annual Fee ●     Cashback ●     Emergency Cash Assistance ●     Reward Points
Axis Bank Insta Easy Credit Card No Annual Fee ●     Zero Late Payment Charges ●     Zero Fees ●     Avail discounts on Travel
ICICI Student Travel Card Variable: Based on travel distance ●     24*7 Support ●     Travel Insurance for Groups ●     Customised Travel Packages

SBI Student Plus Advantage Card

The SBI Student Plus Advantage card can be availed by Indian students who have taken an education loan from the SBI. Individuals who maintain an SBI FD account with the bank can also apply for this card. This card offers the following features to the students.

  • Earn one reward point on every Rs 100 spent by the cardholder.
  • Fuel Surcharge Waiver of Rs 2.5% applicable on petrol pumps spread all over the country.
  • An annual waiver of Rs 35,000 on the fee.
  • Utilizing the card in grocery shopping and departmental stores can bring 10X results.
  • Railway Ticket Bookings that can be facilitated online.

ICICI Bank Student Forex Card

The ICICI Bank student forex card can be employed for students in India, where they can apply for this prepaid instrument. This financial institution levies a joining fee of Rs 499 and an annual fee of Rs 199 from the applicants. One can avail of the following features and benefits:

  • Discounts on excess baggage and DHL Courier services.
  • Obtain the International Student Identity Card Membership of Rs 590.
  • Shopping voucher from Croma
  • Credit Insurance worth Rs 1,600
  • Liability coverage of up to Rs 5 Lakhs

Kotak 811 Dream Different Credit Card

The Kotak Mahindra Bank offers student credit cards to cater to their credit needs. Credit card holders with Kotak Mahindra Bank can avail of the following benefits and features.

  • Avail a welcome bonus of 500 reward points on purchases worth Rs 5,000.
  • Withdrawal limit of up to 90% on credit.
  • One can also conclude interest-free cash withdrawals for up to 45 days.
  • A minimal rate of interest for up to 2.99% per month.
  • Cashback worth Rs 750 or 4 PVR movie tickets on an annual spend of Rs 75,000.
  • Receive a 1% fuel surcharge waiver on fuel transactions between Rs 500 and Rs 3,000.
  • Eligible to receive a surcharge waiver of up to 2.5% on IRCTC bookings.

ICICI Coral Contactless Card

The ICICI coral credit card allows students in India to facilitate cashless transactions and avail of the following benefits and features:

  • Receive 2% payback points on every Rs 100 spent.
  • 1% payback point on the utilities and insurance for every Rs 100 spent.
  • Avail a 1% surcharge waiver on petroleum pumps of Hindustan petroleum.
  • Quarterly domestic lounge access
  • Apply for the annual fee waiver for spending over Rs 1.5 Lakhs
  • Discounts of up to 15% on dining bills in over 2,500 restaurants across the country.

Bihar Student Credit Card

The students in Bihar can apply under the Bihar student Credit card scheme. To apply under this scheme, the student should be a citizen of Bihar who has completed their higher secondary education. They should be pursuing courses in institutions authorized by the state government. The cardholders can avail of the following benefits:

  • Pursue polytechnic and other courses.
  • Female and transgender students would be offered interest rates as low as 1% per annum.
  • The credit can be utilized to purchase books, laptops and fees.
  • Amount accrued to be repaid after completion of the course.

West Bengal Student Credit Card

The Higher Education department of West Bengal launched the West Bengal student credit card scheme to provide students with financial assistance to pursue their education. Students pursuing their postgraduate degrees can avail themselves of WBSSC. The scheme offers the following benefits:

  • Loan amount up to Rs 10 Lakhs at an annual interest rate of 4% per annum.
  • Loan repayment tenure is 15 years.
  • Avail interest rate of 4% from the State cooperative bank.
  • Availability of an online application form where one can conveniently process and conclude their loan application.

HDFC Forex Plus Card

The HDFC Forex plus card provides an avenue to credit card holders pursuing their education abroad.

  • Accessibility to funds which can facilitate transactions through multiple currencies.
  • This credit card functions similarly to a credit card.
  • The card caters to constant currency fluctuations and all the major currencies in the world.

HDFC Multi Currency Platinum ForexPlusChip Card

The HDFC Multicurrency Platinum Forex Plus Chip card is accessible in over 20 countries to cater to students pursuing their education abroad. This credit instrument allows the facilitation of money transfers through secured wallets online.

  • Safeguards the cardholders from any unforeseen fraud or accidents of up to Rs 5 Lakhs.
  • Facilitation of transactions through net banking, where they can also review their account statements.
  • Avail of special discounts and schemes.
  • Credit card also provides student with a platform to learn money management skills where they can hone their financial skills. They can track their spending and inculcate the habit of saving.

Axis Bank Insta Easy Credit Card

An instant, paperless credit card that can be activated instantly through the Axis Mobile app. It allows customers to avail of a credit limit of up to Rs. 1,00,000 instantly and can be used for online shopping and other transactions.

• Instant activation of the card within a few minutes • No paperwork or physical card is required • Credit limit of up to Rs. 1,00,000 • Access to exclusive offers and cashback • Flexible repayment terms • No annual fees or joining fees • Up to 45 days of the interest-free credit period • Option to choose from multiple payment options

ICICI Bank Student Travel Card

The ICICI Bank Student Travel Card is a prepaid travel card designed specifically for students. It is an ideal way to manage and spend money while studying abroad safely. The card offers various benefits like

  • Convenience,
  • Security,
  • Ease of use and reloadable balance.
  • The card can be used at ATMs and POS terminals in over 200 countries and can also be used online. It has an insurance cover of up to Rs. 10 lakhs and a 24-hour customer care service.
  • The ICICI Bank Student Travel Card is perfect for students looking for an easy and secure way to manage their money while traveling.

Steps for Student Credit Card Application in India

Financial institutions have allowed students to foray into the credit card industry. But they have set certain parameters that students shall meet to safeguard them.

  • Every bank has established its own eligibility criteria for issuing student credit cards. Banks such as the State Bank of India only provide credit cards to students who have applied for an education loan from the bank.
  • It is important for the student to meticulously examine and compare the student credit card option to avail the best scheme in the market. They should also look into the eligibility criteria and the application process before applying for the loan.
  • The students are then required to apply for the Student Credit Card, where they are required to produce documents such as name, contact details, Address and income.
  • The applicant is then required to activate the credit card by following the steps established by the bank, after which they’ll receive their student credit cards in the mail.

Eligibility for a Student Credit Card

The financial institutions have established the following eligibility criteria for the applicants:

  • Must attain the age of 18
  • Should be enrolled in a recognized educational institution.

Documents Required

The applicant must produce the following documents to conclude their Student Credit Card Application Status:

  • Birth Certificate
  • Identification Card issued by the College/Institution
  • PAN Card
  • Residential Address
  • Passport – Size Photograph
Related Resource
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What is the top-rated student credit card?

The SBI Student Plus Advantage credit card is regarded as one of India's best student credit cards.

Is it possible to obtain a student credit card without paying a fee?

The Kotak 811 #Dream different student credit cards offer zero annual fees to their issuers.

How much is a student card?

The annual fee on the wide range of student credit cards available market differs from

What is a student loan card?

The student loan cards are issued against a student loan, allowing the students to facilitate transactions directly from their bank account.

Are credit cards for students restricted to college-goers only?

The minimum age to apply for a student credit card is 18 years.

Tushar Gautam is a content writer inclined to enlighten his readers about the world of finance through Urban Money.

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