Best No Annual Fee Credit Cards in India 2026: Zero Fee or an Easy Waiver
The cheapest card to keep is one whose terms charge no fee at all, such as Amazon Pay ICICI or IDFC FIRST Millennia, but a card with a small fee you waive every year can pay you just as well. We picked eight cards, four with a standing zero fee and four whose ₹99 to ₹500 fee disappears at ₹25,000 to ₹50,000 of yearly spend, and ran one ₹15,000 monthly budget through all of them.
In short
On a ₹15,000 monthly budget, Amazon Pay ICICI and Scapia Federal return the most at no fee, while the waiver cards earn less but stay free once you cross a low spend target.
Best for
- Amazon Prime members with an ICICI invite who want 5% back on Amazon at no fee
- Travellers who want zero forex markup without a yearly fee, through IDFC FIRST Millennia or Scapia Federal
- Light spenders who reach ₹25,000 to ₹50,000 a year and want a small fee waived
Skip it if
- You carry a balance, since interest of 3.5% to 3.85% a month costs far more than any fee
- You want generous lounge access and high rewards, which mostly come on paid cards
Highlights
- Four picks charge no joining or annual fee in their terms
- HDFC UPI RuPay's ₹99 fee is waived from year two at ₹25,000 a year
- BOBCARD EASY waives its ₹500 fee at ₹35,000 a year
- IDFC FIRST and Scapia cards charge zero forex markup
- Fees and rates checked on 5 November 2026
The cards on this page
| Card | Fees | Headline reward | Best for |
|---|---|---|---|
| Amazon Pay ICICI Bank Credit Card ICICI Bank | Nil joining and annual | 5% value on amazon.in purchases, Amazon Prime members | Cashback, Online shopping, Lifetime free |
| FIRST Millennia Credit Card IDFC FIRST Bank | Nil joining and annual | 5% value on hotel bookings via 'FIRST Rewards Gallery' in the IDFC FIRST Bank app | Lifetime free, Reward points, Dining and food delivery |
| IndusInd Bank Tiger Credit Card IndusInd Bank | Nil joining and annual | 2.4% value on annual spends above Rs.5,00,000 | Lifetime free, Reward points, Travel |
| Scapia Federal Credit Card Federal Bank | Nil joining and annual | 4% value on travel booked on the Scapia app | Travel, Lifetime free, Reward points |
| HDFC Bank UPI RuPay Credit Card HDFC Bank | ₹99 + GST joining and annual | 3% value on groceries and supermarkets, dining and all PayZapp transactions | UPI payments (RuPay), Cashback, Groceries |
| BOBCARD EASY BOBCARD | ₹500 + GST joining and annual | 1% value on departmental stores and movies | First card, Reward points, Online shopping |
| Standard Chartered EaseMyTrip Credit Card Standard Chartered | ₹350 + GST joining and annual | 2.5% value on airline tickets and hotel bookings on standalone airline or hotel... | Travel, Airline miles, Hotel stays |
| League Platinum Credit Card Kotak Mahindra Bank (Kotak) | ₹499 + GST joining and annual | Special categories: Travel Agencies & Tour Operators, Package Tour Operators... | Reward points, Lifetime free |
Free to keep, in short
If most of your card spend goes on Amazon, the Amazon Pay ICICI Bank card is the strongest no-fee card we checked, and if you travel, Scapia Federal and IDFC FIRST Millennia add zero forex markup to a zero fee. If neither fits, a card whose small fee you waive with ordinary spending, like the ₹99 HDFC Bank UPI RuPay card, end up costing nothing from the second year.
How we chose
We kept two groups of active cards: those whose MITC shows no joining or annual fee and no spend condition, and those charging ₹500 or less that is waived at ₹50,000 or less a year, about ₹4,167 a month (₹50,000 divided by 12). Zero fees that are only limited-period offers, cards not taking applications and FD-backed cards was left out.
We then ran one ₹15,000 monthly budget through every pick and compared what is left after fees. A card is here only because of its numbers, no bank pays for a place. Data cut-off: the banks' MITCs, card pages and notices as read on 5 November 2026. For standing zero-fee cards only, see our best lifetime-free credit cards.
Zero fee or waived fee?
A lifetime-free card costs nothing whatever you spend. A waivable card is free only in the years you hit the target, and year one is usually paid, but the waiver cards here asks for very little. The real question is which card pays more on your own spending, and the maths tab show exactly that.
Our eight picks, grouped by fee
No fee, every year
Amazon Pay ICICI Bank Credit Card. Prime members get 5% on Amazon with no cap, others get 3%, and other spends earns 1%, credited as Amazon Pay balance that does not expire. ICICI runs it as an invite-only programme and asks for ₹30,000 of monthly income. Deciding figure: 5% on Amazon, uncapped.
IDFC FIRST Millennia Credit Card. 3 points per ₹200 at ₹0.25 each is 0.375%, while dining, food delivery, travel and birthday spends get 10 points per ₹200, or 1.25%. Forex markup is zero since 9 September 2026, though international spends stopped earning points on 26 October 2026. The income asked is ₹3 lakh a year. Deciding figure: 1.25% on dining, with no published cap.
IndusInd Bank Tiger Credit Card. The MITC show nil joining, annual and add-on fees, though IndusInd's terms say the actual fee is communicated at application. Points rise with yearly spend, from 1 per ₹100 up to ₹1 lakh to 6 per ₹100 above ₹5 lakh, at ₹0.40 each. Deciding figure: 2 domestic lounge visits a quarter and 2 international a year, with no fee.
Scapia Federal Credit Card. The Visa card pays 10% of each purchase of ₹20 or more as Scapia Coins, and 5 coins are worth ₹1 on travel in the Scapia app, so about ₹2 per ₹100. Forex markup is zero and ₹20,000 of spend in a billing cycle opens domestic lounges. Two warnings. Federal Bank does not publish who can apply, and the charges we could read are from a November 2024 MITC. Deciding figure: about 2% back in travel coins.
A small fee you can waive
HDFC Bank UPI RuPay Credit Card. A virtual RuPay card for ₹99 plus GST, waived from year two once you spend ₹25,000 a year. Its 3% CashPoints on groceries and dining, 2% on utilities and 1% elsewhere are each capped at 500 CashPoints a month, and a CashPoint is worth ₹0.25, so 3% really means ₹0.75 per ₹100. Deciding figure: ₹25,000 a year, about ₹2,083 a month (₹25,000 divided by 12).
BOBCARD EASY. The fee is ₹500 plus taxes, with year one waived on ₹6,000 of spend in the first 60 days and later years waived at ₹35,000. The card page also shows a ₹0 joining fee from 1 September 2026 as a limited-period offer. It earn 1 point per ₹100 at ₹0.20, and 5 at department stores and movies, up to 1,000 points a cycle. Deciding figure: ₹35,000 a year keeps it free.
Standard Chartered EaseMyTrip Credit Card. ₹350 plus GST, reversed when you spent ₹50,000 in the previous year. Every ₹100 earns 2 points worth ₹0.25 each, or 0.5%, and its terms exclude only cash, fees and reversed transactions, so on our reading bills and fuel earn too. Direct airline and hotel bookings get 10 points per ₹100. Deciding figure: a flat 0.5% almost everywhere.
Kotak League Platinum Credit Card. ₹499 to join and ₹499 a year in the MITC, waived at ₹50,000 of retail spend; the listing page's ₹0 is an offer. It earns 4 points per ₹150, but since 1 June 2025 a point is worth ₹0.07 as cash or ₹0.10 in the catalogue, so it makes sense more for its PVR milestone than the points. Deciding figure: ₹1,25,000 of spend in six months brings 4 free PVR tickets.
One ₹15,000 monthly budget through every pick
We used a household card spend of ₹15,000 a month, ₹1,80,000 a year, treated each category as one block, applied the caps and valued points at the bank's published rate. Yearly figures are 12 times the monthly ones. Real bills get rounded per transaction, so your own figure come out a little lower.
| Category | Per month |
|---|---|
| Amazon | ₹3,000 |
| Flipkart | ₹1,800 |
| Groceries at a supermarket | ₹3,000 |
| Dining and food delivery | ₹2,400 |
| Fuel | ₹1,800 |
| Electricity and other utility bills | ₹1,200 |
| Other shops (chemist, clothes) | ₹1,800 |
| Total | ₹15,000 |
| Card | Earned a month | Earned a year | Fee from year two | Left after fee |
|---|---|---|---|---|
| Amazon Pay ICICI (Prime member) | ₹240 | ₹2,880 | ₹0 | ₹2,880 as Amazon Pay balance |
| Scapia Federal (Visa) | ₹240 in coins | ₹2,880 | ₹0 | ₹2,880 for Scapia travel |
| Standard Chartered EaseMyTrip | ₹75 | ₹900 | Waived | ₹900 |
| IndusInd Tiger | Varies by slab | ₹867.20 | ₹0 | ₹867.20 |
| IDFC FIRST Millennia | ₹67.50 | ₹810 | ₹0 | ₹810 |
| HDFC Bank UPI RuPay | ₹63 | ₹756 | Waived | ₹756 |
| Kotak League Platinum | ₹35.20 | ₹422.40 | Waived | ₹422.40 |
| BOBCARD EASY | ₹20.40 | ₹244.80 | Waived | ₹244.80 |
The working
- Amazon Pay ICICI: 5% of ₹3,000 on Amazon is ₹150, plus 1% on Flipkart, groceries, dining and shops (₹18, ₹30, ₹24 and ₹18). Fuel and utility bills paid outside Amazon earns nothing. That is ₹240 a month; a non-Prime member gets 3% on Amazon, so ₹180 a month or ₹2,160 a year.
- Scapia Federal: fuel and bills earn no coins, the other ₹12,000 earns 10%, which is 1,200 coins, and at 5 coins to ₹1 that is ₹240 a month for Scapia travel. This budget stays below the ₹20,000 cycle spend that opens lounges.
- Standard Chartered EaseMyTrip: all ₹15,000 earns 2 points per ₹100, so 300 points worth ₹75.
- IndusInd Tiger: without fuel the yearly spend is ₹1,58,400 (₹13,200 times 12). The first ₹1,00,000 earns 1,000 points and the next ₹58,400 at 2 per ₹100 earns 1,168, counting the bills inside the first ₹1 lakh because accelerated points does not apply on utilities. 2,168 points at ₹0.40 is ₹867.20.
- IDFC FIRST Millennia: per ₹200, Amazon, Flipkart, groceries and shops earn 3 points (45, 27, 45 and 27), dining earns 10 (120), bills 1 (6) and fuel none. That is 270 points, ₹67.50 at ₹0.25.
- HDFC UPI RuPay: 3% on groceries and dining is 90 and 72 CashPoints, 2% on bills is 24, and 1% on Amazon, Flipkart and shops is 30, 18 and 18, while fuel get none. 252 CashPoints at ₹0.25 is ₹63, well under every 500 cap.
- Kotak League Platinum: ₹13,200 without fuel earns 4 points per ₹150, so 352 points, ₹35.20 at the ₹0.10 catalogue value. As cash at ₹0.07 the year's 4,224 points (352 times 12) are only ₹295.68, which is very less.
- BOBCARD EASY: supermarkets, fuel and fast food earn nothing, so we assume your dining codes as a restaurant. Amazon, Flipkart, dining, bills and shops give 30, 18, 24, 12 and 18 points, 102 in all, worth ₹20.40 at ₹0.20. ₹244.80 a year on ₹1,80,000 is about 0.14%, not much to write home.
Redemption fees and year one
Redeeming once a year costs ₹99 plus 18% GST, ₹116.82, on IDFC FIRST, leaving ₹693.18. Tiger's ₹149 cash-credit fee leaves ₹718.20, HDFC's ₹50 plus GST (₹59) leaves ₹697, and Standard Chartered's ₹99 handling charge leaves ₹801. Amazon Pay ICICI and BOBCARD charge nothing and Scapia states no fee.
Waivers usually start in year two, so year one look different. HDFC UPI RuPay's ₹99 plus GST is ₹116.82, leaving ₹639.18, and Standard Chartered's ₹350 plus GST is ₹413, leaving ₹487. Kotak's ₹499 plus GST is ₹588.82, offset by 5,000 welcome points worth ₹500, so ₹422.40 plus ₹500 minus ₹588.82 is ₹333.58. BOBCARD EASY waives year one on ₹6,000 in 60 days, which this budget pass in the first month.
Catches that make a free card costly
Offers that only look lifetime free
Axis Bank shows MY Zone as lifetime free on Visa only till 31 December 2026, while its MITC lists ₹500 to join and ₹500 a year. Kotak's listing shows ₹0 for League Platinum against ₹499 in the terms, and HDFC's PIXEL Play offer ended on 31 October 2026; none of HDFC's consumer cards in our data has a standing zero fee. Always look the MITC fee table, not the banner.
What a waiver ignores
Cash, fees and EMI conversions never count, Axis also leaves out rent, wallet loads and gift cards and ICICI leaves out rent, government and education. Standard Chartered reverses the EaseMyTrip fee within 60 days of charging it, which confuse many cardholders.
Interest beats any fee
Most of these cards charge 3.75% a month, 45% a year; IDFC FIRST charges 3.85% and Tiger 3.5%. With the daily formula banks use, days times balance times yearly rate divided by 365, ₹10,000 carried for 30 days at 45% costs ₹369.86 before GST. That is more than five months of HDFC UPI RuPay rewards on our budget (₹63 times 5 is ₹315), and once a balance is carried, new purchases loses the interest-free period too.
Usage fees and expiry
A free card are not exempt from the new 1% fees. Amazon Pay ICICI charges 1% on rent, on fuel above ₹10,000 and on utilities above ₹50,000, and Scapia's February 2026 agreement adds 1% on rent and on utility and fuel spends above ₹50,000 a cycle. Points lapse too: IDFC FIRST points now expire after 24 months, and BOBCARD points and Scapia coins go if the card sits unused for 365 days.
If the bank changes the deal
Under the RBI's 2025 Directions, a free card cannot carry hidden charges, and changes to charges need at least one month's notice. If you object, you can close the card without extra charge after paying your dues, and the bank must close it within seven working days.
Match the free card to your habits
- Amazon every month, with Prime: Amazon Pay ICICI, if you are invited and earn ₹30,000 a month. Its lead over the others only grow as Amazon's share of your spend rises.
- You eat out and travel abroad: IDFC FIRST Millennia, with 1.25% on dining and no forex markup, for ₹3 lakh a year of income.
- Big yearly spend and lounges: IndusInd Tiger. IndusInd's own example of ₹6 lakh a year earns 20,000 points, which is ₹8,000 at ₹0.40, about 1.33%. Its general criteria asks for ₹20,000 of net monthly income.
- Domestic flights booked in apps: Scapia Federal, if Federal Bank approves you; ₹20,000 in a billing cycle brings the lounges.
- Groceries and food on UPI: HDFC UPI RuPay, a virtual card for any UPI app that ₹25,000 a year keeps free. HDFC publish no separate eligibility for it, so check first.
- Flights booked direct with airlines: Standard Chartered EaseMyTrip. ₹20,000 of airline tickets at 10 points per ₹100 is 2,000 points, worth ₹500.
- The lowest target on a ₹500 card: BOBCARD EASY at ₹35,000 a year, if a very small earning don't bother you.
- Kotak customers in its listed cities: League Platinum, for ₹5 lakh of yearly income, as a PVR ticket card more than a points card.
Holding one zero-fee card and one waiver card is fine, as long as you can track two due dates.
Before you apply
A no-fee card is not easier to get. Approval is the bank's decision, and the RBI asks issuers to judge your independent financial means and the limits you already hold. RBI sets no minimum age or income, banks set them.
| Card | Published income rule | Age |
|---|---|---|
| Amazon Pay ICICI | ₹30,000 a month, invite only | 21 and above |
| IDFC FIRST Millennia | ₹3 lakh a year | 21 and above |
| IndusInd Tiger | ₹20,000 net a month (general Indus Easy criteria) | 18 to 70 |
| Scapia Federal | Not published | Not published |
| HDFC UPI RuPay | Not separately published | Not separately published |
| BOBCARD EASY | Not published | 21 to 60 |
| Standard Chartered EaseMyTrip | Not published; sourcing cities only | 18 to 65 |
| Kotak League Platinum | ₹5 lakh a year; listed cities | 21 to 60 |
KYC needs an officially valid document such as a passport, driving licence or proof of Aadhaar, plus PAN, and many apps use Video KYC because a revolving card cannot be opened on Aadhaar OTP e-KYC alone. You must get a one-page Key Fact Statement with the application, read it, it list the interest and charges together. If you are rejected, the bank must give the specific reasons in writing. For every card by need, start at our credit cards hub.
Pros and cons
Pros
- Four picks have no joining or annual fee written into the bank's terms
- Scapia Federal and IDFC FIRST Millennia add zero forex markup to the zero fee
- IndusInd Tiger gives 2 domestic lounge visits a quarter with no fee in its MITC
- HDFC UPI RuPay costs ₹99 and is waived from year two at ₹25,000 a year
- Amazon Pay ICICI pays 5% on Amazon to Prime members with no cap
Cons
- Amazon Pay ICICI is invite only and pays in Amazon Pay balance, not cash
- Scapia coins can be spent only on travel booked in the Scapia app
- BOBCARD EASY returns about 0.14% on a typical mixed budget
- Redemptions cost ₹99 plus GST on IDFC FIRST and ₹149 for Tiger's cash credit
- Kotak League Platinum's cash value fell to ₹0.07 a point on 1 June 2025
Frequently asked questions
Which credit cards in India have no annual fee at all?
Is a card with a waivable fee worse than a lifetime-free card?
Is the Amazon Pay ICICI card really free, and who can get it?
What changed for no-fee cards in 2026?
Do no-fee credit cards have other charges?
Which no-fee card gives airport lounge access?
Related
- Best Lifetime Free Credit Cards in India 2026: Zero Fee in the MITC
- Best Beginner Credit Cards in India 2026: Low Income Floors and FD Routes
- Cashback Credit Cards Explained: How Caps, Cycles and Exclusions Work
- Card finder and comparison guide
- Credit Cards in India 2026: Choose by Spend, Know the Costs and Rules
Sources
- ICICI Bank Limited: Most Important Terms and Conditions (MITC), Amazon Pay ICICI Bank Credit Card
- IDFC FIRST Bank: Most Important Terms & Conditions - Credit Cards (MITC and Schedule of Charges)
- IndusInd Bank: IndusInd Bank Credit Card Most Important Terms & Conditions (MITC_Premium.pdf, PDF created 13 Oct 2026)
- Federal Bank (document hosted by Scapia): Federal Scapia Credit Card Most Important Terms & Conditions (Nov 2024 version)
- Scapia Technology Pvt. Ltd. (co-brand partner): Scapia homepage
- Scapia Technology Pvt. Ltd.: Scapia Launches 'Scapia Pay' to Turn Everyday UPI Payments into Travel Rewards (press release)
- HDFC Bank: Part I Key Fact Statement cum Most Important Terms and Conditions (MITC), English, Version 4.18
- BOBCARD Limited: Key Fact Statement (KFS), dated 17 Jul 2026
- Standard Chartered Bank (India): Credit Card Fees & Charges - Tariffs and Charges
- Kotak Mahindra Bank: Most Important Terms & Conditions and Cardholder Agreement, Retail Cards (English)
Last verified: 5 November 2026
Written by Anjali Bhargawa, reviewed by BankCreds Financial Experts
BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.