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10 Free Credit Cards in India – With No Annual Fee

Shitanshu Kapadia
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10 Free Credit Cards in India – With No Annual Fee

A free Credit Card means a card without any annual fees or charges. These types of cards are free to hold for a lifetime. In other words, there are no annual fees or charges to hold this card. You just need to pay for what you use.

Free Credit cards help customers reduce the overall cost of owning a credit card. However, mostly all credit card companies waive annual fees only if customers spend a certain amount in a year. You should check the terms and conditions before opting for a credit card.

If you want to save money on annual fees and joining fees here are 10 Free Credit Cards in India with No annual fees.

Type of Credit Cards

10 Free Credit Cards in India – With No Annual Fee

The free credit cards in no particular order is given below.

  1. Citibank Rewards Domestic Credit Card
  2. Central Bank of India Titanium Credit Card
  3. HSBC Visa Platinum Card
  4. HDFC Moneyback Card
  5. ICICI Platinum Chip Credit Card
  6. ICICI Bank HPCL Coral Credit Card
  7. Kotak Royale Signature Credit Card
  8. Kotak League Platinum Credit Card
  9. SBI Simply Save
  10. Standard Chartered Platinum Reward Credit Card

Also Read – Best Credit Cards in India 2019

  1. Citibank Rewards Domestic Credit Card

The first free credit card in the list is Citibank Rewards Domestic Credit Card. No annual fee is applicable for this card if you spend annually Rs.30000 or above. If you don’t cross annual spend limit you need to pay Rs.1000 annual fees. The benefit offered by this card is given below.

Features and Benefits –

  • 10X Reward Points for every Rs125 spent at Apparel and departmental store
  • Up to 15% saving across participating restaurants
  • 1000 bonus points on first Rs.1000 spend
  • Personal Concierge Services
  • Gift Vouchers Benefits

Citibank Rewards Domestic card is the Best card for Rewards.

  1. Central Bank of India Titanium Credit Card

Central Bank of India Titanium Credit card is premium credit card available with no issuance fee. This card is widely accepted at all merchant outlets across the world. You can even use this card for ATM withdrawal. The key features of this card are given below.

Features and Benefits –

  • Highly secured card with OTP generation on every transaction.
  • 55 days of credit free card usage facility.
  • Auto Debit Facility available for this card.
  • Complimentary airport lounge access facility

Central Bank of India Titanium Credit card is best suitable for low-income group people. To apply for this card gross annual income should be 1.5 Lakh per annum.

  1. HSBC Visa Platinum Card

HSBC Visa Platinum Card is one of the best cards without any annual or joining fees. This card offers multiple benefits such as cash back, free movie voucher & fuel surcharge waiver.

Features and Benefits –

  • 10% cashback up to Rs.3000 with a minimum spend of Rs.30000.
  • 15% discount as dining privileges in major cities.
  • Fuel Surcharge Waiver
  • Movie Voucher Offer
  • Multiple reward and discount on selected products.
  • Free Credit Period up to 52 days.

HSBC visa platinum credit card is best for rewards and cashback. No joining or annual fee is applicable for this card.

Also Read – 15 Types of Credit Cards in India and Usage

  1. HDFC Moneyback Card

HDFC Moneyback as the name suggests it is best suited free credit card in India for Money back purpose. Rs.1000 is annual fees applicable on this card. However, this fees can be waived off by spending Rs.50000 annually. Key features of HDFC Moneyback Card is given below.

Key Features and Benefits –

  • 2x Reward Points on online shopping
  • Redeem reward point as cashback
  • Zero liability on lost card
  • Fuel Surcharge waiver
  • Spend Rs.50000 in a quarter and get Rs.500 E-Voucher

HDFC Moneyback card is best for cashback. This card is offered to both salaried and self-employed.

  1. ICICI Platinum Chip Credit Card

In free credit cards list, one of the top credit cards is ICICI Platinum Chip Credit Card. This card is value for money as it provides multiple benefits and rewards. This includes annual fee waiver. Key benefit detail of this card is given below.

Features and Benefits –

  • Annual fee waiver on an annual spend of Rs.50000 or above
  • 15% saving on dining bill
  • Fuel surcharge 1% waiver
  • Earn 2 payback point on every Rs.100 spent
  • An extra PIN-based security feature
  • Eligibility for this card is stringent and it is offered to eligible corporates only

This card is most suitable for first-time credit card user and corporate employees.

  1. ICICI Bank HPCL Coral Credit Card

The next best free credit card by ICICI bank is HPCL Coral Credit Card. This card is best suitable for getting extra savings on fuel. The features of ICICI platinum chip card and this card is somewhat similar. This card also offers annual fee waivers on annual spent of Rs.50000 or above.

Key Features

  • Get Rs.100 off on movie tickets twice per month.
  • 15% saving on dining bill
  • 2.5% cashback on fuel spent on HPCL petrol pump
  • Fuel surcharge 1% waiver

If you are spending a lot on fuel you can use this card to reduce your fuel bill.

  1. Kotak Royale Signature Credit Card

Kotak Royale Signature Credit card is a lifestyle credit card. This card is offered with an annual fees of Rs.999. However, these fees can be waived at an annual spend of 1 Lakh.

Features and Benefits –

  • 4x and 2x Reward points
  • Fuel Surcharge Waiver
  • Free access to Airport Lounge
  • 5 Lakh cover against fraudulent usage

Kotak Royale Signature Credit Card is best suitable for lifestyle expenses.

  1. Kotak League Platinum Credit Card

Another best free credit card from Kotak is Kotak League Platinum Credit Card. Kotak League Platinum Credit card is also a lifestyle credit card with multiple reward benefits. The joining fee for this card is NIL. The annual fee is Rs.499 which can be waived off if you spend Rs.50000 in a year. The key features of this card is given below.

Key Features

  • You can Earn up to 8X reward points on every Rs. 150 spent
  • Rs.500 movie Voucher as joining gift
  • Fuel surcharge waiver
  • Credit Card League shield – Protection cover for card
  • Easy Reward Redemption

This card is best suited for middle-class people. The annual income requirement for this card is Rs.5 Lakh.

  1. SBI Simply Save

SBI Simply Save is another best free credit cards. An annual fee is applicable on this card. The fee can be waived if your annual spend is 1 Lakh or above. Key Features and benefit details of this card are given below.

Features and Benefits

  • Enjoy 10x Reward per Rs.100 spent on Dining, Movies, Department stores, and Grocery
  • Fuel surcharge waiver
  • Auto utility bill payment
  • Cash on the Go Facility

SBI Simply Save is the best card for saving extra money.

Also Read – Credit Card Loan or Personal Loan – Its your Choice

  1. Standard Chartered Platinum Reward Credit Card

Standard Chartered Platinum Reward Credit card is one of the best free credit cards.  A special advantage of the Standard Chartered Platinum Reward Credit card is the card provides a lucrative offer of 20% cashback per month on Uber rides. This means you can save sa ustainable amount on Uber rides per year. An additional benefit offered by this card is given below.

Additional Benefits

  • No Annual and Joining Fees
  • Earn 5 reward points for every Rs.150 spent on dining outlets and on fuel.
  • 20% discount for first-time user of the big basket.
  • 1000 reward points on the first transaction of a credit card.
  • Additional 500 reward points for registering online banking.

Note –

There is no free lunch in this world. Everything is charged or bundled with hidden charges. You should go through the most important terms and conditions before opting for any credit card.

Final Thoughts

Finding a free credit card in India doesn’t mean you have to compromise on perks. These cards offer fantastic benefits like cashback, rewards, fuel waivers, and discounts — all without an annual fee. Whether you shop online, travel, or simply want a backup payment option, there’s a perfect zero annual fee credit card for you.

FAQs

1. What does “lifetime free credit card” mean?

A credit card with no annual or joining fee for the entire tenure.

2. Can I apply for multiple free credit cards?

Yes, but managing multiple cards can be tricky. Choose wisely!

3. Do free credit cards have hidden charges?

Most have no hidden charges, but always read the terms & conditions.

4. Can students apply for these credit cards?

Some banks offer student-friendly credit cards, but they usually require a fixed deposit.

5. Do free credit cards offer airport lounge access?

Yes! Some, like Yes Bank Prosperity Rewards Plus, provide lounge access.

6. How do I improve my credit limit?

Regular spending, timely bill payments, and a good credit score can help.

7. Are these free credit cards accepted worldwide?

Most Visa and Mastercard credit cards are internationally accepted.

8. What happens if I don’t use my credit card?

If inactive for a long time, banks may deactivate or reduce the credit limit.

9. Do these credit cards offer EMI options?

Yes, most allow EMI conversion on large purchases.

10. How do I check my credit card application status?

Visit the bank’s website and use your application reference number to track it.

Income Tax for NRI in India

Shitanshu Kapadia
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Income Tax for NRI in India

Income tax NRI

The NRIs (Non-Resident Indians) are confused when it comes to taxation issues especially related to rented income, a sale of real estate and other investments etc.  Here is a complete guide to explain about tax implication for NRIs.

One of my friends has recently moved to Canada. He has income from property in India. Apart from that, he has income from other sources in India. He wants to know about the applicability of income tax for NRI. He is also confused about filing Income tax return. So, in this post, let’s try to address common tax related queries asked by NRI.

Who is considered as NRI?

Residential rule for NRI is changed in Budget 2020.

An individual or manager of HUF who is non-resident in India in 7 out of 10 preceding years will be regarded as “not ordinary resident” in India.

NRI who is a citizen of India if visiting India for more than 120 days in a year will lose his non-residential status (earlier this limit was of 182 days). In the simple words if Indian national wants to claim NRI status he cannot stay in India above 120 days. (4 months). This means you need to stay minimum 245 days abroad for claiming your NRI status.

For residential status only above condition is added, remaining conditions remain same.

In addition to above condition, if person is not staying in India for greater than 60 days in the financial year or 365 in preceding four financial year status can be claimed as NRI.

If these conditions do not get satisfied residential status will be ordinary Resident. The flow chart of explaining NRI status is given below.

NRI Status India

Also Read – RNOR Status NRI can save Tax up to 3 Years

Income Tax for NRI – Taxable Income of an NRI

Your resident status will decide your income tax liability in India. If your status is ‘resident’ your global income is taxable in India. If your status is ‘NRI’ your income earned in India is taxable in India.

Following incomes are taxable for NRI –

Income from Salary

If you are NRI and you receive a salary in India or someone receives it on your behalf, you are liable to pay income tax on such salary. This means if you render service outside India and accept a salary in India, you need to pay income tax on salary income.

E.g  Mr.Suresh Works in IT firm. IT firms take a project in Dubai and depute Mr.Suresh for project work. Mr.Suresh opt to take a salary at India. Mr.Suresh is liable to pay tax on salary income.

Rental Income

The most common source of income of NRI is rental income. Most of NRI rent out their properties and receive monthly rental income. Any income arising from rental property for NRI is taxable in India. This income is taxed as per income tax slab rates.

A tenant who pays rent to an NRI needs to deduct TDS at 30%. A tenant needs to prepare 15CA and submit it online to the income tax department. This is irrespective of payment is made in bank account located in India or at abroad.

Income from Other Sources

Income from any other sources in India is taxable for NRI. Few examples of other sources include interest income earned on NRO bank account, fixed deposit etc. The interest earned on NRE or FCNR account is not taxable.

In short as an NRI you need to sum up all income originated in India or received in India. If your total income in India is crossing income tax threshold limit you need to pay Income tax.

Also Read – To do list for NRI before leaving India

Income from Business and Profession

NRI is also liable to pay tax on any income arising due to business and profession in India. This means if you have business setup in India or controlled in India you are liable to pay tax.

Long term Short term capital Gain – Income from Capital Gain

NRI is also liable to pay long-term capital gain tax and short-term capital gain tax. This means any capital gain arising due to a transfer of capital asset which is situated in India shall be taxable in India. However, the certain special tax treatment is offered for specific investments.  The tax rate applicable on such investment is 20% provided NRI has no other income except special investment during the financial year. The special investment includes following investment type.

  • Shares in Indian companies
  • Debentures issued by a public-listed Indian company
  • Deposits with a bank and public companies
  • Central government securities

Deduction for such investment is not considered under 80C for NRI. However, in case of long-term capital gain, one can avail an exemption on the profit under section 115F.

Deduction and Exemptions Applicable to NRI

After looking at a taxable income of NRI, let’s take a look at deduction and exemptions applicable to NRI.

  • Most of the deductions under 80 C are allowed to NRI. Some examples are insurance premium, children tuition fees, principal repayment for a home loan, ULIP investment and Investment in ELSS.
  • NRI is also allowed to claim deduction under 80D for a premium paid for health insurance policy.
  • NRI can claim a deduction for the interest payment on education loan. The loan may be for the higher education of NRI or for spouse and children.
  • Another deduction which is allowed to NRI is under section 80G which is for the donation made under a social cause.
  • NRI can also take benefit of 80 TTA. It is towards interest income on saving bank account. The maximum limit is Rs.10000.

Also Read – Top 5 Best Investment Options for NRI in India

When NRI is required to file Income Tax Return?

One of the most frequently asked question by NRI is – Do I need to file Income tax return? Well, NRI needs to file Income Tax Return under following conditions –

  • If Total Income is crossing taxable limit during a financial year. This means as per current rule if total income of NRI in India is above 2.5 Lakh, one need to file Income tax return.
  • If TDS is deducted from your Income and you are looking for refund as your income is below taxable limit.
  • If you have Short term Capital Gain (STCG) or Long term Capital Gain(LTCG) from sale of assets or investments in India even if your income is below basic exemption limit.
  • Suppose you want to carry forward and set off any losses against gains.
  • If you want to claim tax benefit under tax treaty even though your income in India is below threshold limit.

How to Download Aadhaar Update History from UIDAI website?

Shitanshu Kapadia
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0
How to Download Aadhaar Update History from UIDAI website?

You can now easily access Aadhaar Update History for download. UIDAI has introduced a new feature for downloading Aadhaar update details. At times, we modify our Aadhaar information such as address, mobile number, or other demographic data. To view the alterations made on your Aadhaar card, you can obtain Aadhaar Update history from the UIDAI site.

The Aadhaar Update history is helpful in many ways. Firstly when you apply for various services such as passport, visa and other sundry jobs you can use this facility to ascertain residence history for the past few years. Secondly, it also helps you to verify that if any unauthorized update has taken place or if someone has wrongly updated your Aadhaar.

It will also give you residence proof along with history. Suppose currently you are staying in Surat and after a few years you moved to Mumbai. You have an updated card with a Mumbai address, then with the help of downloading the Aadhaar update history, you can give proof that you were earlier living in another city.

Apart from this, if you have changed your name due to any specific reason you will be able to get proof online in update history.

This is a very good step to empower people. It will also eliminate a need for maintaining a physical copy of address proof. You can download history anytime online and use it for various services.

The update history shows date-wise update details made in address, name, and other demographic details. You can even see the addition and deletion of mobile or email. Here is step by step process to download the Aadhaar Update History from the UIDAI website.

How to Download Aadhaar Update History from UIDAI website?

Step 1

Visit UIDAI portal on the home page you will find the language selection. On selection of language you would be redirected to the page. In the top menu, you will find a link called “Aadhaar Update History”. Click on this link to download the history.

Step 2

On clicking this link you will be taken to a new page where you need to login using your Aadhaar number and captcha code. After entering Aadhaar and Captcha details click on “Send OTP” button. You will get OTP (one-time password) on your registered mobile number. The OTP is valid for 30 minutes. Enter the OTP and click on the submit button for validation.

Step 4

Upon successful login you will be able to see the service tab dashboard. One of the services on this dashboard is Aadhaar Update History.

Aadhar Update History Download

Step 3

On clicking Aadhaar update history you will be able to see all historical Aadhaar updates done by you at a single place. It will also show the date on which the modification was carried out. The update history screen looks like below.

download aadhaar update history

If your Aadhaar is seeded with an e-mail address, UIDAI will send an e-mail indicating update history is downloaded. It is an additional security feature to know who has viewed or downloaded updates.

Benefits of downloading Aadhaar Update History

The benefits of downloading the Update history are given below.

  1. Address History online which can be viewed as and when required with a click of the button.
  2. Along with address history, you will be able to see other demographic change detail.
  3. You can use this history as a proof for various services including passport, visa etc.
  4. You can verify if anyone has modified information wrongly or not.

Hope you will find this information useful. If you have any query about downloading Aadhaar Update History please post it in the comment section.

 If you find this article useful, do share it with your friends on Facebook and Twitter.

5 Saving Investment Options for Emergency Fund

Shitanshu Kapadia
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2
5 Saving Investment Options for Emergency Fund

emergency fund

Building an emergency fund is one of the prime requirement of the financial planning. An unexpected job layoff, a sudden critical illness or disability due to an accident are few examples of emergency situations where you badly need money. To some extent, you can use your credit card to address the emergency. But a credit card is not to be seen as a replacement of setting up an emergency fund.

You have to keep at least six months of expense aside as an emergency fund. The size of fund varies from individual to individual. Suppose you have medical insurance that provides cashless benefits you can avoid emergency fund for a medical emergency. Similarly, if you have other earning family members who can take care of household expense in the emergency, you can avoid building an emergency fund.

I strongly recommend building contingency fund so that you can handle any adverse financial situation and you need not take debt such as personal loan or loan from relatives. If you are ready to build an emergency fund and looking for options to stack your cash which can be easily accessible here are 5 Investment Options for Emergency Fund. You should not stick to one investment option. You should divide your fund and park at multiple places which are accessible easily.

Please note that while building an emergency fund returns are not important. Accessibility of fund at short notice or 24×7 is important.

5 Saving Investment Options for Emergency Fund

Saving Account

Keeping money in saving account is foolishness as it offers only 4% return. However, for the emergency fund, you can keep park at least 20% of the emergency fund in a saving bank account. As you can access saving bank account fund 24×7 using a debit card. But please note that daily cash withdrawal limit is most of the cases is Rs.40000. If 4% interest rate is not acceptable, you can open saving bank account in the bank which offers higher interest rate such as Kotak Saving Bank Account.

Auto Sweep in Account

Another best investment option for the emergency fund is an auto sweep in account. Auto sweep in account convert excess of a fund in a fixed deposit which earns better interest rate 6 to 7%. However, accessing auto sweep account in the emergency is not an easy job.

Fixed Deposit

If you don’t want to take the hassle of opening auto sweep account you can opt for a fixed deposit account. Fixed deposit offers nearly equivalent returns compared to auto sweep account. You can break fixed deposit at very short notice. However, you need to visit a bank to break fixed deposit.

Short Term Debt Fund

Short Term Debt Funds are superior compared to bank FDs in terms of returns. Best performing debt fund can give return up to 8-10%.  You can plan to invest in short term debt fund for emergency fund. Exit load is applicable for debt fund. Redemption of unit take time up to 2-3 days.

Liquid Funds

Another investment option for an emergency fund is liquid or short-term debt fund. A liquid fund offers slightly higher return compared to saving the bank and comes without lock-in period. There are many fund house (Example – Reliance anytime money) that offers ATM card. You can use ATM card to withdraw money anytime. Please note that withdrawal limit is Rs.50000 or 50% of the balance whichever is lower.

Apart from above 5 best investment options, you can invest your money in PPF and EPF. PPF allows closure of account after 5 years to address medical emergency or higher education. Similarly, you can withdraw money from EPF for the specific purpose. The time required for withdrawal of fund from EPF and PPF is high.

Conclusion – You should establish the emergency fund by investing your money in various investment options mentioned above. Please consider your household expense, EMI, insurance premium, and other expenses while deciding fund amount. Don’t forget to review your emergency fund at least once in a year.

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