#lowinterst

Having a credit card with a low interest rate might be advantageous for people who want to use their credit cards to purchase pricey products. When it comes to credit cards, interest rates that range from 1.5% to 2.99% monthly are typically seen as being cheap. Here, we examine the benefits and drawbacks of having a credit card with low interest rates, as well as who should apply for one.

Advantages and Disadvantages

Advantages

Yearly fee savings: These cards often have lower annual fees than the majority of other credit cards. If a particular amount is charged on the card each year, the credit card provider might also waive the annual fee.

Low Interest Credit Cards Have Lower APRs: Low Interest Credit Cards Have Lower APRs. This makes it possible for consumers who have low-interest credit cards to benefit from lower interest rates long after the promotional period has ended.

Disadvantages

Few benefits are available: A person is only qualified for a few benefits, such as low interest rates. Low interest credit cards might not come with as many benefits as other credit cards, such as generous rewards, cash back, air miles, deals, and discounts.

Presented to wealthy people: HNIs are given lower loan rates in an effort to draw them in. These benefits are given to these people by banks in order to attract their business.

Best Low Interst Credit Cards with their Interest Rate: 

HDFC Bank INFINIA Credit Card Metal Edition: 1.99% per month, or annualised 23.8%

IDFC First Wealth Credit Card: from 0.75% to 3.5% monthly

HDFC Bank Diners Club Black Credit Card: Monthly 1.99%, or 23.88% yearly

IndusInd Bank Celesta Credit Card: 2.99% monthly

IndusInd Bank Crest Credit Card: Monthly 2.99%, or 36% yearly