Student Credit Cards in India

Types of Student Credit Cards

FD-Backed Student Credit Cards 

These cards are secured against a fixed deposit, making them ideal for students with little or no prior credit history. They allow students to build credit safely while continuing to earn interest on the deposit. 

Major features and benefits of FD-Backed Student Credit Cards are:  

1. Credit limit up to 90% of the fixed deposit. 

1. Reward points on online and offline purchases; some cards offer cashback on educational and everyday expenses. 

1. Interest-free period of 20–50 days; limited interest-free cash withdrawals. 

1. Security features like Chip & PIN, OTP verification, and fraud monitoring. 

1. Digital banking for tracking transactions, setting limits, blocking the card, and FD management. 

1. Additional perks like fuel surcharge waivers, student discounts, and special offers.

Unsecured Student Credit Cards

These cards do not require a fixed deposit and are designed for students who can demonstrate minimal income or have a co-signer. They help students start building a credit history without collateral. 

The following are the key features and benefits of Unsecured Student Credit Cards:  

1. Credit limit based on age, student status, and sometimes co-signer income. 

1. Reward points or cashback on shopping, travel, dining, and other transactions. 

1. Interest-free period of 20–50 days on purchases. 

1. ATM cash withdrawals within the credit limit. 

1. Security features include Chip & PIN and OTP verification. 

1. Mobile and internet banking for transaction tracking, setting limits, and card management.

Government-Backed Student Credit Cards

Offered under government schemes, these cards provide students with access to credit at moderate limits and often include additional benefits like financial literacy programs or scheme-specific incentives. 

The benefits and features of Government-Backed Student Credit Card are listed below: 

1. Moderate credit limits to promote responsible spending. 

1. Reward points, cashback, or scheme-specific incentives. 

1. Interest-free periods on purchases and selected cash withdrawals. 

1. Enhanced protections and benefits under the scheme regulations. 

1. Some programs include financial literacy or educational benefits. 

Add-On Cards

Add-on cards are supplementary cards linked to a primary student credit card. They allow family members or other authorized users to access the credit limit and earn rewards under the same program. Below are the important features and benefits of Add-On Cards: 

1. Shares the credit limit of the primary cardholder. 

1. Earns reward points under the same program as the primary card. 

1. Interest-free periods and security features are the same as the primary card. 

1. Primary cardholder can monitor transactions via mobile or internet banking. 

1. No separate FD or income proof required. 

1. Identity, address, and relationship proof to primary cardholder may be needed.

Benefits of Student Credit Cards

IDFC FIRST WOW! Student Credit Card

The IDFC FIRST WOW! Student Credit Card is a secured credit card made for students who do not have a regular income or credit history. It is backed by a fixed deposit and gives students a simple way to start their credit journey. With no joining or annual fee, it offers rewards, zero forex charges, and flexibility for both domestic and international use. 

Key Highlights of IDFC FIRST WOW! Student Credit Card

1. Available to students with a fixed deposit at IDFC FIRST Bank. 

1. Earns reward points on every spend and has no forex markup fee. 

1. Provides a credit limit linked to the student’s FD value. 

Joining and Annual Fee 

1. Joining Fee: Rs. 0 

1. Annual Fee: Rs. 0 

Features and Benefits of IDFC FIRST WOW! Student Credit Card

1. The card can be taken by anyone above 18 years of age who holds a fixed deposit with the bank. 

1. The credit limit is usually equal to the FD amount, and the deposit continues to earn interest. 

1. There is no need for income proof or previous credit history, making it easier for students to qualify. 

1. Reward points earned on purchases never expire, so they can be collected and redeemed later. 

1. Zero forex markup means international transactions are cost effective. 

1. Students can withdraw cash up to 100 percent of the FD value if required. 

1. The card gives discounts on dining, shopping and partner merchants across India. 

1. Lost card liability cover provides security against misuse. 

1. Credit limit can be increased by opening additional fixed deposits. 

1. The card is lifetime free and has no hidden charges for membership. 

MBSSBY Bihar Student Credit Card

The Bihar Student Credit Card Scheme is part of the state government’s Saat Nischay Yojana under the youth empowerment pillar Aarthik Hal, Yuvaon Ko Bal. Along with MNSSBY (monthly allowance for unemployed youth), this scheme helps students pursue higher education by providing affordable financial support. It allows eligible students from Bihar to access loans up to Rs. 4,00,000 for professional, technical, and academic courses in India or abroad. 

Key Highlights of MBSSBY Bihar Student Credit Card

1. Education loan facility up to Rs.4,00,000 for approved courses. 

1. The government guarantees access to loans without heavy collateral. 

1. Covers a wide range of professional and technical programmes. 

Joining and Annual Fee 

1. There are no joining or annual fees as this is a government-backed scheme. 

Eligibility for MBSSBY Bihar Student Credit Card

1. Must be a resident of Bihar. 

1. Should have passed 10th or 12th in Bihar. 

1. Applicant’s age must be below 25 years at the time of application. 

1. Annual family income must be less than Rs. 50,000. 

1. Admission must be secured in a government-approved or recognised institute. 

1. Courses under management quota are not covered. 

Features and Benefits of MBSSBY Bihar Student Credit Card

1. Loan of up to Rs.4,00,000 can be used for tuition, books, lodging, meals, and other academic needs. 

1. Can be availed for both studies in India and abroad if eligibility criteria are met. 

1. Loan is provided by the bank under the guarantee of the Government of Bihar. 

1. Covers a broad list of courses like B.Tech, BBA, BCA, MBA, MCA, B.Sc Agriculture, B.Sc Nursing, B.Pharm, and other technical and professional streams. 

1. Removes financial barriers for meritorious students, giving them equal opportunity to join reputed institutions. 

1. Complements other youth-focused schemes like MNSSBY, creating a safety net and growth opportunities for Bihar’s youth. 

West Bengal Student Credit Card

The West Bengal Student Credit Card Scheme is a government initiative to make education affordable for all students of the state. It allows eligible students to access easy and low-interest credit to cover the costs of higher education in India or abroad. The scheme is designed to remove financial worries so that students can focus on studies and skill building. 

Key Highlights of West Bengal Student Credit Card

1. Students can get an education loan of up to Rs. 10,00,000. 

1. Repayment period is long and flexible, giving students time to complete studies before repayment begins. 

1. The scheme covers both institutional and non-institutional education expenses. 

Joining and Annual Fee

1. There is no joining fee. 

1. There is no annual fee. 

Eligibility for West Bengal Student Credit Card

1. The applicant must be an Indian national and a resident of West Bengal for at least 10 years. 

1. The maximum age limit to apply is 40 years. 

1. The scheme is open to students pursuing higher secondary, undergraduate, postgraduate, professional, doctoral, diploma courses, and even coaching for competitive examinations. 

Features and Benefits of West Bengal Student Credit Card

1. Students can avail loans up to Rs.10,00,000 to meet education-related expenses. 

1. The scheme covers costs such as tuition fees, books, study material, computers or laptops, hostel charges, project work, research work, and educational tours. 

1. Both institutional expenses (fees, library charges, lab fees, etc.) and non-institutional expenses (books, laptops, accommodation, living costs) are included. 

1. The repayment tenure is up to 15 years after completion of studies, which includes a one-year moratorium period. 

1. Loans are offered at a low interest rate, making repayment affordable. 

1. No collateral security is needed since the government provides support.

Kotak 811 DreamDifferent Credit Card

The Kotak 811 DreamDifferent Credit Card is a student‑friendly credit card that allows young adults to start building a credit history even if they do not have regular income or prior credit. It is backed by a fixed deposit, which acts as collateral, and the credit limit is determined by the value of the deposit. The card comes with zero joining and annual fees and provides convenient features such as interest‑free cash withdrawals and rewards on both online and offline transactions. It is designed to give students financial independence while maintaining safety and control over spending. 

Key Highlights of Kotak 811 DreamDifferent Credit Card

1. Credit limit is linked to a fixed deposit, up to 90 percent of the deposit value, giving students a predictable and secure spending limit. 

1. Zero joining fee and zero annual fee make the card accessible without any upfront cost. 

1. Offers interest‑free cash withdrawals for up to 48 days, providing short-term liquidity when needed. 

Joining and Annual Fee 

1. Joining Fee: Rs. 0. Students do not have to pay any fees to apply for the card. 

1. Annual Fee: Rs. 0. There is no recurring annual fee, making the card completely free to maintain. 

Eligibility of Kotak 811 DreamDifferent Credit Card

1. Applicant must be 18 years or older to apply for the card. 

1. Students without a regular income can still apply, as the fixed deposit serves as collateral in place of income proof. 

1. To be eligible, the applicant must hold a Kotak account: a standard 811 account requires a minimum fixed deposit of Rs. 10,000, while a Uni Student Bank Account requires a minimum deposit of Rs. 15,000. 

Features and Benefits of Kotak 811 DreamDifferent Credit Card

1. Earn 4 reward points for every Rs. 100 spent online and 1 reward point for every Rs. 100 spent on offline transactions. These points do not expire, allowing students to redeem them at their convenience. 

1. Students can withdraw cash from ATMs or make fund transfers up to 90 percent of their credit limit. Withdrawals are interest-free for up to 48 days, with a nominal processing fee. 

1. The card waives fuel surcharges and railway transaction surcharges within the applicable limits, making routine spends more economical. 

1. The linked fixed deposit continues to earn interest even while it serves as security for the credit card, so students do not lose the benefits of their deposit. 

1. The card provides protection against misuse or theft, giving students confidence while making payments or cash withdrawals. 

1. Students can get additional cards for family members or trusted individuals, with customizable spending limits and independent tracking of expenses. 

ICICI Bank Platinum Credit Card

The ICICI Bank Platinum Credit Card is a student‑oriented credit card designed to help young adults begin building a credit history, even if they do not have a regular income or prior credit experience. The card is secured by a fixed deposit, which determines the available credit limit and acts as collateral. It comes with no joining or annual fees and offers useful features such as interest‑free purchases, rewards on transactions, and access to global payment networks. The card is created to give students financial independence while maintaining security and control over spending. 

Key Highlights of ICICI Bank Platinum Credit Card

1. Credit limit is determined by the fixed deposit, giving students a secure and predictable spending capacity. 

1. Zero joining and annual fees make the card accessible with no upfront or recurring costs. 

1. Provides rewards on everyday online and offline transactions, along with discounts on movies and fuel purchases. 

Joining and Annual Fee 

1. Joining Fee: Rs. 0. Students can apply without any upfront cost. 

1. Annual Fee: Rs. 0. No recurring charges are applied, making it easy to maintain. 

Eligibility for ICICI Bank Platinum Credit Card

1. Applicants must be at least 18 years old. 

1. A fixed deposit of Rs. 50,000 or more with a tenure of at least 180 days is required. The FD must be in auto-renewal mode and cannot be tax-saving or linked under Section 80C. 

1. The applicant must be an Indian resident. Minors and foreign nationals are not eligible. 

1. Standard identity and address proof documents, such as Aadhaar or Passport, are required. 

Features and Benefits of ICICI Bank Platinum Credit Card

1. Earn 2 reward points for every Rs. 100 spent, redeemable for products, services, or gift vouchers. 

1. 25% discount (up to Rs. 100) on purchasing two movie tickets via BookMyShow. 

1. 2.5% fuel surcharge waiver at HPCL petrol pumps on transactions up to Rs. 4,000. 

1. Interest-free period of 20–50 days on purchases if the balance is paid in full. 

1. Contactless payment feature for faster and more secure transactions. 

1. Global acceptance at over 2 million outlets, making it suitable for domestic and international use. 

1. Digital banking access to track transactions, set limits, and block the card if needed. 

HDFC Bank Regalia Add-On Credit Card 

The HDFC Bank Regalia Add-On Credit Card is a premium student-friendly card that allows students to access a credit facility while being linked to a family member’s primary card. It provides an excellent way for young adults to start building their credit history with the security of a primary cardholder overseeing the account. The card comes with zero joining and annual fees and offers attractive features such as reward points on retail and educational spends, complimentary lounge access, and comprehensive insurance coverage. It is designed to give students financial independence while maintaining safety and control over spending. 

Key Highlights of HDFC Bank Regalia Add-On Credit Card 

1. Students can use the shared credit limit of the primary card, providing a secure and predictable spending capacity. 

1. Reward points on retail, educational, and utility transactions help students earn while they spend. 

1. Complimentary airport lounge access and comprehensive insurance coverage enhance the card’s value. 

Joining and Annual Fee 

1. Joining Fee: Rs. 0. Students can apply for the add-on card at no upfront cost. 

1. Annual Fee: Rs. 0. There is no recurring fee, making it completely free to maintain. 

Eligibility of HDFC Bank Regalia Add-On Credit Card 

1. Applicant must be 18 years or older. 

1. Must be a family member of the primary cardholder. 

1. Must be an Indian resident. 

Features and Benefits of HDFC Bank Regalia Add-On Credit Card

1. Earn 4 reward points for every Rs. 150 spent on retail purchases, including educational and utility expenses. 

1. Complimentary access to over 1,000 airport lounges worldwide. 

1. Comprehensive insurance cover including air accident protection and lost card liability. 

1. Global acceptance for online and offline transactions. 

1. Transactions are monitored and managed by the primary cardholder via digital banking. 

How to Apply for a Student Credit Card 

Step 1: Check Your Eligibility 

1. You must be a student, usually 18 years or older. 

1. Some banks require you to have an education loan or meet other specific criteria. 

1. Only students who qualify for the bank’s conditions can apply. 

Step 2: Research and Compare Options 

1. Look for banks offering student credit cards. 

1. Compare rewards, cashback, interest-free periods, and annual fees. 

1. Identify the card that best fits your spending needs and lifestyle. 

Step 3: Understand the Application Process 

1. Banks may offer online applications or require a branch visit. 

1. Ask the bank about bank-specific procedures, as they vary. 

Step 4: Prepare Necessary Documents 

1. Proof of age (like school ID or passport). 

1. Student ID or college enrolment certificate. 

1. Education loan documents, if required. 

1. Any additional documents specified by the bank. 

Step 5: Apply for the Card 

1. Submit your application online or in person depending on the bank’s process. 

1. Ensure all documents are complete to avoid delays. 

Step 6: Wait for Approval 

1. The bank verifies your details and eligibility. 

1. Once approved, your student credit card will be issued. 

Step 7: Use the Card Responsibly 

1. Spend within your limit and pay bills on time. 

1. Responsible use helps build your credit history from an early stage. 

Credit cards make payments easy for all expenses online and offline while offering various benefits

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