Best Credit Cards in India for People with Annual Income <5L, 5L-10L, 10L-20L

The world of credit card is not that simple to understand. While the mass would go mad about earning rewards and cashback, the elite class of people would mostly go for services such as airport lounge access, golf sessions, concierge services, etc. On not finding the desired services or rewards, people switch from one card to another. Keeping such a big concern in mind, the article has categorized best credit cards based on different income groups. The groups include people with an annual income of less than ₹5 lakhs, ₹5-10 lakhs and ₹10-20 lakhs. The purpose of doing so is to help you select the card you think is best suited to your case.

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Best Credit Cards for People with Income Below ₹5 Lakhs

Here’s a list of those cards.

SimplySAVE SBI Card

The card comes with the following benefits.

  • Earn 2000 bonus reward points on spending ₹2,000 or more in the first 60 days
  • Accumulate 10 reward points on every ₹100 spent on movies, dining, groceries and departmental stores
  • Earn 1 reward point on all other spends
  • Get a fuel surcharge waiver on refilling vehicles for transactions worth between ₹500 and ₹3,000 at petrol pumps in India
  • Get your annual membership fee reversed on spending ₹90,000 or more in a year
  • Reward points earned can be redeemed to pay the outstanding credit card balance and buy a wide range of gifts
  • Global acceptance with more than 24 million outlets, including 3,25,000 in India, all ready to let you swipe with comfort.
  • Pay all your electricity, mobile, telephone and other utility bills via Easy Bill Pay facility

Fees

Annual Fee – ₹499
Renewal Fee – ₹499

Why Would People with Below ₹5 Lakh Income Like This Card?

  • 2,000 Bonus reward points on spending ₹2,000 or more within the first 60 days
  • Annual membership fee reversal on spending ₹90,000 in a year
  • Reward redemption against the payment of outstanding dues and gifts

HDFC Platinum Times Card

The card has the following benefits.

  • Every ₹150 spend on the card to earn you 3 reward points
  • Earn 10 reward points per 150 spent on dining during weekdays from Monday to Friday
  • Get discounts worth ₹1,800 or more in a year on booking movie tickets
  • The yearly discounts on dining total to ₹9,600 or more
  • Savings on fuel transactions likely to be ₹1,500

Fees

Annual Fee – ₹1,000
Renewal Fee – ₹1,000

Why Would People with Below ₹5 Lakh Income Like This Card?

  • Dining discounts total to a minimum of ₹9,600 in a year
  • Movie discounts total to a minimum of ₹1,800 in a year
  • Savings of up to ₹1,500 on fuel transactions
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SimplyCLICK SBI Card

Tune in to the following benefits of the card.

  • Get an Amazon gift card worth ₹500 on joining
  • Earn 10X reward points on online spends with exclusive partners – BookMyShow/Foodpanda/Amazon/Cleartrip/UrbanClap/Lenskart
  • Get 5X reward points on all other online spends
  • Earn e-voucher worth ₹2,000 on spending ₹1 lakh in a year
  • No fuel surcharge on filling your vehicle tank with ₹500-3,000

Fees

Annual Fee – ₹499
Renewal Fee – ₹499

Why Would People with Below ₹5 Lakh Income Like This Card?

  • Amazon gift card
  • Accelerated reward points on shopping with online brands
  • E-voucher on spending ₹1 lakh a year
  • Lower fees

Best Credit Cards for People with Income of ₹5-10 Lakhs

Check out the credit cards best suited for people with an annual earning of ₹5-10 lakhs.

American Express Platinum Travel Credit Card

One of the best travel credit cards of today, American Express Platinum Travel Credit Card brings with itself the following attractions.

  • Get 5,000 milestone bonus membership reward points as a welcome gift. The points are redeemable against travel vouchers worth ₹4,000.
  • Grab travel vouchers worth over ₹7,700 on spending ₹1.90 lakh in a year
  • Get additional travel vouchers up to ₹11,800 by spending ₹4 lakhs in a year. Also, get a voucher worth ₹10,000 from the Taj Hotels, Resorts and Palaces.
  • Enjoy travel booking benefits with MakeMyTrip.com
  • Get up to 20% discount on dining at select premium restaurants courtesy American Express Selects Dining Program
  • Complimentary Priority Pass membership

Fees

Joining Fee – ₹3,500
Annual Fee – ₹5,000

Why Would People of ₹5-10 Lakh Income Group Like This Card?

  • Firstly, it gets offered to those with a minimum annual income of ₹6 lakhs. A few from the group may not get the approval but a majority would.
  • Travel vouchers on spending ₹1.90 lakh and ₹4 lakhs in a year
  • Discounts on dining at premium restaurants

Jet Airways American Express Platinum Credit Card

Another product that draws parallel to the one described just above, Jet Airways American Express Platinum Credit Card has the following benefits to make you a fan of it.

  • Earn 10,000 bonus JPMiles on the first charge of the card and get a complimentary Jet Airways domestic ticket with a base fare waiver
  • Accumulate 5,000 bonus JPMiles and get the base fare waived on Jet Airways domestic ticket on every renewal
  • Earn 8 JPMiles on spending every ₹150. The offer, however, won’t apply to spends made on fuel, utilities, insurance and cash transactions
  • Get 16 JPMiles on spending every ₹150 on booking revenue tickets on Jet Airways’ website
  • Get 5% discount on base fare on booking revenue ticket at Jet Airways’ website
  • Enjoy up to 20% discount on dining at select premium restaurants, helping you taste more of the delicious cuisines on offer
  • Get up to 20 bonus JPMiles per every 100 spent by signing in to Extra JPMiles Program
    Dedicated check-in excess baggage waiver of 5kg on Jet Airways flights within India
  • Round-the-clock concierge service
  • Enjoy complimentary Priority Pass membership
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Fees

Annual Fee – ₹5,000
Renewal Fee – ₹10,000

Why Would People of ₹5-10 Lakh Income Group Like This Card?

  • 10,000 bonus JPMiles on joining
  • 5,000 bonus JPMiles on renewal
  • Base fare waiver on Jet Airways domestic ticket both on joining and renewal
  • 24×7 concierge service

JetPrivilege HDFC Bank World Credit Card

Catch the benefits of the card below.

  • Get up to 7,500 bonus JPMiles and a waiver of base fare (one way) of Jet Airways ticket as a welcome gift
  • On every ₹2 lakh spent, get 1 JP Tier Point for faster tier upgrades
  • Get lounge access at airports in India or overseas
  • A spend of ₹3 lakhs in 12 months prior to renewal would waive off the renewal fee
  • Enjoy dedicated check-in and additional baggage allowance
  • Complimentary lounge access at domestic and international airports

Fees

Annual Fee – ₹2,500
Renewal Fee – ₹2,500

Why Would People of ₹5-10 Lakh Income Group Like This Card?

  • 7,500 bonus JPMiles
  • One-way base fare waiver of Jet Airways
  • Renewal fee waiver on crossing milestone spends
  • Extended validity of JPMiles for 5 years
  • Scope for faster tier upgrades

Best Credit Cards for People with Income of ₹10-20 Lakhs

The best credit cards for people with an annual income of ₹10-20 lakhs are illustrated below.

HDFC Diners Club Black Credit Card

Specifically designed for premium credit cardholders, the card gives a reason to smile by offering the following benefits.

  • Welcome and renewal benefit of 10,000 reward points and 5,000 reward points
  • Reward points redeemable against booking flights or hotels from more than 150 options. 1 reward point equals to ₹1.
  • Reward points can be redeemed against air miles at Jet Airways, British Airways Executive Club, Singapore Airlines, Club Vistara or Trident Hotels
  • Earn 10X reward points on international spends
  • Unlimited access to more than 700 airport lounges around the world
  • Assistance for golf course referral and reservation
  • Assistance for delivery of gifts and flowers
  • Support for hotel referral and reservation
  • Car rental and Limousine referral and reservation support
  • Assistance for courier services
  • Business services
  • 6 complimentary golf games with a green fee waiver per quarter across 20 golf courses in India and 40 around the world
  • Air accident cover worth ₹2 crore
  • Credit liability cover of up to ₹9 lakhs
  • Medical emergency cover worth up to ₹50 lakhs
  • Travel insurance cover worth up to ₹55,000 on delay or loss of baggage

Fees

First Year Membership Fee – ₹10,000 + Applicable Taxes
Renewal Membership Fee – ₹5,000 + Applicable Taxes

Why Would People of ₹10-20 Lakh Income Group Like This Card?

  • People with around ₹20 lakh income in a year are the ones eligible for the card
  • Welcome & renewal benefit of 10,000 and 5,000 reward points
  • Renewal fee waiver on annual spends of ₹5 lakhs in a year
  • Reward point redemption for air miles at leading domestic and international airways
  • Unlimited lounge access at 700 airports
  • 10X reward points on international spends
  • Concierge services as gift delivery, car rental and others
  • Access to golf games with a green waiver
  • Insurance cover for travel, medical emergency, air accident
  • Credit liability cover
  • Lower interest rate of 1.99% on revolving credit
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Standard Chartered Emirates World Credit Card

One that gives you the luxury to spend your heart out on your travel, Emirates World Credit Card strikes a right chord with the customers by rewarding them for each transaction they make besides offering several other benefits that you can see below.

  • Earn miles on every transaction
  • Get 4,000 bonus miles
  • Accumulate 6 skyward miles for spending every ₹150 on Emirates transactions
  • 3 skyward miles on every ₹150 spent on other transactions
  • Skyward miles redeemable on Emirates, Qantas, Jet Airways, Jetstar, JetBlue, easyJet, Alaska Airlines and others
  • Earn 5% cashback on duty-free shopping, subject to a maximum of ₹1,000 per month
  • Complimentary lounge access to more than 25 domestic airports through Mastercard lounge program
  • 2 complimentary access to domestic and international priority pass lounges on spending ₹10,000 in a month
  • 3 complimentary golf games in a year, one free golf lesson a month and get 50% discount on all games
  • Air accident cover of ₹1 Crore. The cover also includes baggage loss and flight delay

Fees

Annual Fee – ₹3,000
Renewal Fee – ₹3,000

Why Would People with ₹10-20 Lakh Income Group Like This Card?

  • 4,000 bonus miles
  • Skyward miles on travel and other transactions
  • Redemption of miles at Emirates and several other leading airlines
  • Complimentary golf games, golf lessons
  • Airport lounge access
  • Air accidental cover

SBI Card PRIME

One of the most popular cards in the credit card space, SBI Card PRIME has struck a right chord with the premium credit cardholders owing to the following benefits.

  • Grab a Pizza Hut e-voucher worth ₹1,000 on spending ₹50,000 in a calendar quarter
  • On spending 5 lakhs in a year, an e-gift voucher worth 7,000 from Pantaloons or Yatra.com
  • Welcome e-gift voucher worth ₹3,000 from any of these brands – Marks and Spencer, Shoppers Stop, Yatra.com, Pantaloons, Hush Puppies and Bata
  • Exclusive benefits at 900 luxury hotels globally
  • Access to golf games with 50% discount at select golf courses in India
  • Enjoy complimentary visits to domestic airport lounges in India with a maximum of 2 visits in a quarter
  • 4 complimentary visits to international airport lounges allowed, with a maximum of 2 visits in a quarter
  • Grab 1 complimentary lounge access voucher and an upgrade voucher
  • 9 Club Vistara points to be credited on spending every ₹100 on Vistara flights
  • Sign in to Trident Privilege Red Tier Membership and get 1,000 welcome points on registration. Earn 1,500 bonus points on your first stay and additional ₹1,000 hotel credit on extended night stay. You need to type Promo Code SBITH to get the benefits

Fees

Annual Fee – ₹2,999
Renewal Fee – ₹2,999

Why Would People of ₹10-20 Lakh Income Group Like This Card?

  • Membership to Club Vistara and Trident Privilege Red Tier programs
  • Gift vouchers from top brands such as Pantaloons, Yatra.com, Marks and Spencer and others
  • Lounge access at domestic and international airports
    Access to golf courses across India

Personal Loan Interest Rates November 2018
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.50%
ICICI Bank10.99% - 18.40%
IndusInd Bank10.99% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank12.00% - 17.00%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates November 2018
State Bank of India/SBI8.70% - 9.25%
HDFC8.80% - 9.60%
Bank of Baroda8.65% - 9.65%
LIC Housing8.70% - 9.05%
PNB Housing Finance9.00% - 13.00%
ICICI Bank9.00% - 9.25%
Axis Bank8.80% - 9.05%
Citibank9.00% - 9.85%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank8.90% - 8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 14.00%