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Monday, March 21, 2022

What are the best credit cards for students in India?

What are the best credit cards for students in India?



Student Credit Card in India 


A Student credit card is a credit card that's offered to scholars at the council position. Any pupil beyond the age of 18 times is eligible to apply for the credit card as it doesn't have an income eligibility limit. These credit cards have lower interest rates and have a validity period of 5 years


Banks Which Give Student Credit Cards in India 

Though the conception of pupil credit card is relatively new in India, there are banks that offering the cards to the scholars. Some of the banks that offering the cards in the country are 

        1. State Bank of India (SBI) 

        2. HDFC Bank 


Some of the Stylish Student Credit Cards are 


  • SBI Pupil Plus Advantage Credit Card 
  • HDFC Bank ForexPlus Card 
  • HDFC Multicurrency Platinum ForexPlus Chip Card 


How Can a Student Apply for Credit Card in India 


  • Student credit cards are the rearmost entrants in the credit card assiduity that help council scholars manage their charges on their own. Still, not all the scholars are eligible to get a pupil credit card. 
  • Colorful banks and fiscal institutions have come up with a different set of eligibility criteria to issue a pupil credit card. Only those who meet the criteria would come eligible to apply for a credit card. 
  • While some banks similar as the State Bank of India give credit cards only to its education loan guests. 
  • Whichever is the process, if you're a pupil above 18 times of age and would like to apply for a pupil credit card, you must first know which bank is offering stylish pupil credit cards and process to apply for the same. 
  • Once you meet the eligibility criteria set by the bank, you can check with the bank about the procedure to apply for the same. 
  • Not all the banks follow the same process. Hence, it's imperative to talk to the bank particular about the bank-specific process of applying for a pupil credit card. 
  • While a many banks allow you to apply online, others may bear you to visit the bank branch and submit an operation directly. 


Features of Student Credit Cards 


Credit Limits :- Student credit cards have a lower credit limit compared to other credit cards offered by banks. On average, a pupil credit card has a credit limit ofRs. 15, 000. This is done to insure that the cardholders don't dodge debts as a result of unrestricted spending. 

Card Validity :- Student credit cards are generally valid for a period of 5 times from the issue date, as compared to regular credit cards which have a 3 time validity period 

Duplicate card free of cost :- If the pupil credit card holder misplaces their card or it's stolen, a indistinguishable card would be issued free of cost or at a veritably nominal charge 

Waiver of fees :- Student credit cards frequently don't have a joining figure and have veritably low periodic charges, making it easier for scholars to maintain the cards 

Documentation :-  Scholars credit cards don't bear total attestation, unlike utmost other credit cards. The bare minimum of attestation is needed when applying for a card 

Special deals and rewards :- 

  • The pupil cards come whisked with prices and fidelity programs that offer cashback or cash points when a certain quantum is spent using the card. The cards also have special offers and abatements on services as well as purchases worldwide. 
  • Still, the pupil credit card can be upgraded to a regular credit card anytime during the card's validity, If the cardholder wishes to. 


List of Student Credit Cards 


SBI Student Plus Advantage Credit Card 

  • With the SBI Student Plus Advantage Credit Card, scholars can learn how to manage their plutocrat prudently. The card comes with an array of features designed simply for the pupil demographic, similar as the capability to convert all purchases to EMI's, energy cargo up to2.5 on all energy spends charged to the card etc. 
  • The card also has a good prices program, with everyRs. 100 spent earning the cardholder 1 cash point, which can be redeemed for a range of gifts or used to pay off credit balance, if any. 
  • The card also comes with a low interest rate of just2.25 per month. 
  • In addition, road tickets reserved using the card will be delivered to the cardholder's doorstep, making trip plans and arranging tickets quick and accessible. 


HDFC Bank ForexPlus Card 


  • The HDFC Bank ForexPlus Card is a boon for scholars who study abroad and bear easy access to finances in multiple currencies. This immolation by HDFC is a repaid card which works analogous to a credit card, where the quantum is debited directly from the card. 
  • For scholars living abroad, currency oscillations are a constant problem. This card protects cardholders from this as plutocrat can be deposited in the card in all major foreign currencies. Recessions and deals made through the card would also be defended from exchange rate oscillations if the deals are conducted in the currencies that the card is available in. 

HDFC Multicurrency Platinum ForexPlus Chip Card 

 

  • With this HDFC Multicurrency Platinum ForexPlus Chip Card, studying abroad can comfortably pierce their finances in 20 foreign currencies. Currencies can be managed through the card and plutocrat transferred through secure online holdalls. 
  • Cardholders are also defended against fraud and accidents up toRs. 5 lakh each. 
  • Cardholders can also track their accounts and make payments through netbanking, as well as mileage special abatements and deals. 
  • Student credit cards are a good way for youthful grown-ups to begin their incursion into the world of plutocrat operation. Cardholders can learn how to manage their finances and hone their fiscal chops. The low limit and easy access to payment history will enable them to keep track of their spending and also help them start saving. 



Eligibility and Documents Needed to Apply for a Student Credit Card 


Eligibility 

  • Above 18 times of age 
  • Must be a council going pupil

 

Documents Needed 

  • Birth instrument 
  • Identity card issued by the council/ university 
  • Evidence of domestic address 
  • Recent passport size snap 
  • Visage card 


How can a Student get a Credit Card in India 


With banks offering pupil credit card without the aspirants demanding to give any employment documents or Income Duty returns, there must be some distrustfulness as to how a pupil can apply for credit card. 

Below, we bandy the ways how a pupil can get a credit card in their name 

Against fixed deposit A Student can look to mileage a student credit card grounded on the fixed deposit that he/ she might have in his/ her name. Still, banks tend to have a minimal fixed deposit quantum against which the credit card can be applied for. 

Through add-on card Another way to get a pupil credit card is by requesting any of the family members who have a credit card to apply for an add-on in the pupil's name. Still, for that, the member who's requesting for the add-on card must have a good credit history. 

Strong savings regard An existent can also mileage a pupil credit card if they've a strong savings history from which they intend to apply. Still, this installation is handed to the guests by only a many banks. 



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