3 Top Student Credit Cards in India

A credit card makes transactions, online shopping extremely easy and rewarding at the same time. However, to be eligible to hold a credit card in your name, you need to have a steady flow of income which should be above a certain amount.

Student credit card is an exception and it is offered to college students. Any student above 18 years of age can apply for a student credit card. These cards do not come with any income eligibility limit and carries a lower interest rate as well.  The cards are valid for five years.

Student credit card is still a new concept in India and only a few banks offer credit cards to students.

In this article, we will compare some of the best credit cards for students.

SBI’s Student Plus Advantage Card

For: Students with SBI loan and FD

The largest bank in the country SBI offers SBI Student Advantage Plus Credit Card, a student credit card. This card is exclusively meant for education loan customers of State Bank of India. Students can get a credit card against a fixed deposit at any State Bank of India branch.

Customers get a 1 reward point for every Rs. 100 spent and the reward points can also be used to pay the outstanding balance.

The annual fee of the card is reversed if the student makes purchases of more than Rs.35,000. 

Other benefits of SBI Student’s credit card

• Get up to 2.5% cashback, get 10X Reward Points while spending on departmental and grocery stores
• Get 10X Reward Points on your International spends
• Enjoy 2.5% fuel surcharge waiver at any petrol pump in India
• You can avail fuel surcharge waiver if you transact for Rs. 500- Rs. 3,000 every time.
• You can book your railway tickets online through IRCTC and get the tickets delivered at your doorstep
• You can convert your transactions in easy monthly instalments with Flexipay.

How to Apply: Visit an SBI Branch

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ICICI Bank Student Travel Card:

For: Indian students studying abroad

ICICI Bank Student Travel Card is ICICI Bank’s forex card meant for students. Students can meet their necessary expenses, pay fees through this card.

On taking the card, students get joining benefits worth Rs.5000. Students get International Student Identity Card (ISIC) membership, discount on excess baggage, courier service along with card protection insurance and counterfeit card liability coverage up to Rs 5 lakh.

Other features:

• Students get preferential foreign exchange rates
• The joining fees is RS.499
• Annual fee of Rs.199 from the second year

How to apply: 

Buy the student travel card through your iMobile app

Visit the nearest ICICI Bank Forex Branch.

Contact your relationship manager.

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HDFC ISIC Student ForexPlus Card

For: Indian students studying abroad

HDFC ISIC Student ForexPlus Card is forex card meant for students studying abroad and it also acts as a student identity card. It is available in USD, Euro and GBP. After the card is loaded, students don’t have to worry about fluctuations in these currencies. During travel, students can withdraw local currencies from ATMs.

As it also acts as a global student ID card, students become eligible for special discounts & offer on purchasing books, food, shopping, accommodation, leisure activities, and travel across 130 countries from over 41000 outlets.

Other features of HDFC Student Card:

• It can be used at VISA/MasterCard affiliated establishments around the world
• Complimentary insurance cover is also provided
• Customers are protected of up to Rs 5 lakhs against card misuse, counterfeiting and skimming
• An accidental death coverage of Rs.25 lakhs
• Know all your international spends with prepaid NetBanking
• Be aware of your transactions with monthly statements

How to apply:

Visit a branch with the following documents:

• ISIC ForexPlus Card application form
• Appointment Letter / Admission Letter / University Identity Card
• A photocopy of your passport
• Scanned passport size photograph with white background
• Photocopy of Visa or Ticket (for non-HDFC Bank customers)

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Conclusion: The student life is the time to concentrate on studies and not to worry about transactions and currency fluctuations. These top 3 student cards may help students to transact seamlessly and take care of their requirements.

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Click here to compare different credit cards.

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