The flexibility, security, and simple usage helped Debit Cards to gain popularity in India. We can easily get our Debit cards after opening the bank account. A Debit Card is also known as an ATM or payment card, which helps us to withdraw cash whenever we need it. People can use Debit Cards for various purposes other than withdrawing cash such as performing online transactions, paying for goods or services at a merchant’s place, or making an online payment for bills or purchases. It helps us to access the money directly from our bank account without physically visiting the banks and saves our time as now we don’t have to stand in queues.
22 Best Debit Cards in India (2023): Features & Comparison
Debit Cards vs. Credit Cards
Debit Cards have both similarities and differences with Credit Cards. As we have informed earlier, the Debit card helps us to access our money directly from our bank account, and when executing the transactions, the money gets deducted from our available balance in the account. Because of this reason, Debit cards are also known as check cards as the amount gets immediately deducted from the checking account. But in Credit cards, you technically borrow some amount which you need to pay in the future. So the basic difference is immediate payment in Debit cards and future payment in Credit cards. Debit cards have less risk involved as we can not make any transactions in the situation of lack of balance in the account. Credit cards involve the risk of overspending as in credit cards, and people need to pay the amount in the future.
Features/Benefits of Debit Cards:
Debit Cards provides us with the convenience to achieve financial freedom and avoid the risk of getting into debts. If you know the different features of your debit cards, it will be more beneficial for your daily spending.
A debit card gives you the comfort to access money directly from your bank account. You can use your debit card for withdrawing cash, making online payments, paying bills at the merchant’s place, completing transactions and purchases, etc. Many banks give you the facility to use your debit card overseas without any obstruction. The best feature of debit cards is the required financial flexibility it offers with simultaneously encouraging better financial management. If you are a person who travels frequently, you can opt for the debit card, which allows you to access your money anywhere around the globe with features like unlimited check and electronic transactions so that you can easily handle your account. A debit card offers various levels of security measures to their customers. Visible features like the individual debit card number, PIN, OTP, three-digit card protection key ensures that no one other than you can access your account. Some banks offer you the facility of zero liability policy, where there will be no charges imposed for unauthorized transactions. It also helps you to avoid overspending, unlike credit cards. Amount gets deducted from your bank balance directly, which encourages you to spend within your limits. Like credit cards, debit cards also provide you with the benefit of rewards and offers. For instance, different merchants give you the cashback offers on debit card payments.
Factors to consider before selecting a Debit card
Before going into the main topic, let us have some ideas about the factors you should consider before asking your bank a suitable debit card for you. You should have a look at the following factors before deciding the best suitable option for you:
Right bank: We can get a debit card after opening our account in the respective bank; hence selection of the right bank for the best suitable debit card is an essential thing which we should always consider before applying for the card. Leading banks offer the best and feature-rich debit cards which can satisfy your need. Different kinds of Cards: Visa, Maestro, RuPay, Mastercard are the most common and popular card network providers in our country. Here only RuPay is an Indian card network provider launched by RBI in 2012. You should know about the different card network providers in India so that you can compare and apply for the best. Safety and security: Security is an essential element for everyone. Hence you should opt for the bank, which provides you with higher protection. Advance features like Contactless payments: For the fast and simple payment process, many banks offer a debit card with features like contactless payment. Hence we should opt for the debit card, which provides us with features of Contactless payment to make our transactions smooth. ATM transaction costs: Some debit cards give you the facility of unlimited free ATM transactions. Other card providers offer you limited transactions per month. You should choose the one which gives you unlimited ATM transactions if you are someone who regularly accesses their ATM. Overdraft facility: Some providers offer you EMI features on online purchases. To start this facility, your provider instantly creates an overdraft account. Then they connect your savings account with your overdraft account and deduct money for your online purchases in installments. Only a few banks in India offer this feature. Card renewal costs: It is an important element you should consider before choosing your debit card. Cards with premium features also charge high card renewal costs. But one can get the same facility with low renewal costs. International payment facility: If you want to use your debit card overseas, you should consider debit cards with an international transaction facility.
Also Read: 6 Different Types Of Debit Cards In India
Top 22 Debit Cards in India (2023)
1. ICICI Bank Coral Paywave International Debit Card
Annual fee: Rs. 599 + GST It is one of the most secured NFC powered Visa Paywave debit cards with contactless payment facility. This card offers many discounts and cashback bonuses on various online purchases and merchant’s shops in India. Customers can also get Payback reward points for online purchasing. This card is suitable for online purchasing, international payments, maintaining lifestyle, and travelling. It was the first bank in India that offered a Contactless payment facility to its users. Best features of this debit card:
Bookmyshow, Inox, Carnival Cinema, and others offer free movie tickets to its users. International payment facility. Various online and offline benefits. Low renewal fees with many facilities. 2 free Lounge access for users of this card at different airports. High withdrawal limit (1 lacs at domestic ATMs and 2 lacs for International). High online payment limit.
2. HDFC Bank RuPay Premium Debit Card
Annual fee: Rs. 200 + GST. This is one of the best Rupay powered card. It is suitable to use for online purchases on Indian websites. After connecting to Paypal, users can purchase on international eCommerce websites. This HDFC debit card provides a very high purchase limit for online and PoS terminals. It also provides Rupay exclusive benefits on different online purchasing sites. Features of this card:
Discount offers on different eCommerce sites. High Online purchasing limit up to Rs. 2.75 lacs. Cashbacks offer such as 5% cashback offer on utility payment bills for selected sites. Cashback on booking railway tickets. 2 free Lounge access for users of this card at different airports. Low ATM renewal fees. Most suitable for grocery, utility bills, and online payments.
3. Kotak Bank PayShopMore International Chip Debit Card
Annual fee: Rs. 750 + GST. This Debit card is one of the most features riched debit cards of Kotak Mahindra Bank powered with Visa and provides many online purchasing offers on Indian sites. This Debit card gives you the facility of international transactions and cash withdrawal anywhere around the globe. Features of this card are as follows:
Protection of up to Rs. 2.50 lacs for the lost card. Protection of up to Rs. 50,000 for online payments. Cashback offers. Customize the look of your Debit card. Free domestic and international airport lounge access. Suitable for travelling and online purchasing.
4. Axis Bank Burgundy Debit Card
Annual Fee: Rs. 3000 + GST One of the best Contactless premium debit cards powered by Mastercard available in the Indian market. This ATM card has the highest withdrawal limit in India. You require to maintain the least balance of Rs. 10 lacs if you want this debit card or have to pay a renewal fee, which will be very high. Also Read: 10 Best Credit Cards For Freelancers In India Features of this card:
High online payment limit. High ATM cash withdrawal limit. Cashbacks and free tickets offer. For this debit card, the daily cash withdrawal limit is 3 lacs, and the online payment limit will be 6 lacs. Louge excess with VIP facility at the airports. Up to 6 lacs will charge for lost card liability.
5. SBI Platinum International Debit Card
Annual Fee: Rs. 175 + GST This is one of the few cards of SBI with international facilities and offers many other facilities. The wide network of SBI gives you the facility to withdraw cash anywhere. This debit card of SBI comes with both Visa and Mastercard gateway network. Best features of this card:
International payments. High online payment limit. High cash withdrawal limit. EMI on Debit card purchases for selected users. Low card renewal charges. Free lounge access facility at the airports Reward points with the online purchase.
6. HDFC Bank EasyShop Platinum Debit Card
Annual Fee: Rs. 750 + GST HDFC Bank EasyShop Platinum Debit Card is one of the most popular debit cards offered by HDFC Bank. This debit card helps customers save money in several ways. It offers 1% cashback as a reward when you pay using this debit card online or at any retail store. This card has a daily cash withdrawal limit of Rs. 1 Lac, whereas, for online shopping, the limit is Rs. 5 Lacs. Features and Benefits: Also Read: ICICI Debit Card EMI: A Complete Guide
7. ICICI Bank Coral Debit Card
Annual Fee: Rs. 599 + GST ICICI Bank Coral Debit Card showers you with a lot of exciting offers and rewards. It has multiple offers for your dining, entertainment, shopping, and every transaction. Moreover, you get offers and gift vouchers when you apply for this card. Features and Benefits:
The customer receives a bonus of 1000 PAYBACK reward points when they use their card for their first transaction, either for online shopping or retail purchasing. The card comes with Emergency Assistance and Fraud Protection. It covers some insurance, such as – Air Accident Insurance worth Rs. 20 Lakhs, Personal Accident Insurance worth Rs. 10 Lakhs, and Purchase Protection for Rs. 2.5 Lakhs for goods bought from this card. A 20% discount is offered on hotels for a minimum stay of 2 nights.
Also Read: What Are The Types Of Credit Cards & How They Work In India?
8. IDBI Visa Signature Debit Card
Annual Fee: Rs. 799 + GST IDBI Bank offers a number of debit cards for its customers, and IDBI Visa Signature Debit Card is one of them. This card lets the customers avail of many privileges and offers in shopping, fine dining, health, and fitness, etc. These are issued on the Visa Signature platform. Features and Benefits:
Customers using the Signature debit card get the privilege of free access to airport lounges, which are limited to two lounge visits every year. The insurance coverage offered with this card is – Air Accident Insurance worth Rs. 25 Lakhs, Personal Accident Insurance worth Rs. 5 Lakhs, Fire, and burglary worth Rs. 50,000, etc. The online transaction limit per day for this card is Rs. 3 Lakhs, where you can use this card to book travel and movie tickets online and avail maximum discounts.
9. Bank of India RuPay Platinum Debit Card
Annual Fee: Rs. 200 + GST Bank of India RuPay Platinum Debit Card offers different reward rates at multiple levels where you get to select your most preferred category to avail several rewards. The offers that make RuPay platinum card more profitable and attractive is the Airport Lounge access and also cashback on bill payments. Features and Benefits:
This chip-based card is available for both domestic as well as international usage. The daily limit for online transactions is Rs. 100000. The ATM transaction limit per day is Rs. 50000. Bill payments made using the RuPay Platinum card are eligible for availing 5% cashback up to Rs. 50 per month.
10. Central Bank of India RuPay Platinum Debit Card
Annual Fee: Rs. 100 + GST Central Bank of India RuPay Platinum Debit Card is an EMV chip-based card that can be issued under the RuPay platform. This card is accepted domestically as well as internationally. It offers a reward rate of 0.375% and also the domestic airport lounge access for two lounge visits in a year. Features and Benefits:
Customers get 5% cashback up to Rs. 50 per month on making utility bill payments using this card. Some of the Insurance Coverage offered by this card is – Personal Accidental Death Insurance worth Rs. 2 Lakhs, Personal Air Accident Insurance worth Rs. 8 Lakhs. You can avail Buy 1 Get 1 offer at Café Coffee Day and also Rs. 1500 off on some mobile phones at The Mobile Store.
11. IDFC First Visa Signature Debit Card
Annual Fee: Nil IDFC Bank launched the IDFC First Visa Signature Debit Card after merging with the Capital First. This card does not offer any reward points yet, and to get this card, an average monthly balance of Rs. 25,000 is mandatory. Features and Benefits:
It offers cashback of Rs. 250 per month on BookMyShow when you book your tickets using this card. Customers using this card can be eligible for some free Insurance Coverage like Permanent Disability Insurance, Death Insurance, etc. Other benefits of this card include a 1% fuel surcharge waiver, which is relatively lower and no annual fee. Domestic Airport Lounge Access.
12. SBI Platinum Debit Card
Annual Fee: Rs. 175 + GST Issuance Fee: Rs. 100 + GST SBI Platinum Debit Card gives you the convenience of experiencing cashless shopping with SBI while you earn SBI Rewardz for it. This card earns 1 SBI Rewardz for every purchase of Rs. 200/-, be it shopping, dining, or travel. These SBI Rewardz Points earned can be collectively redeemed for gifts and offers. Features and Benefits:
The card offers insurance coverage of Rs. 5 Lakhs against accidental death. The SBI Platinum Debit Card enables International Usage, which lets you travel the world and make transactions anywhere using this card. This card is also associated with VISA and MasterCard. This card can be used to make a purchase of Rs. 2 Lakhs per day, whereas you can withdraw up to Rs. 1 Lakh per day.
13. Yes Bank Prosperity Platinum Debit Card
Annual Fee: Rs. 599 + GST The Yes Bank Prosperity Platinum Debit Card comes with many advanced benefits and privileges to make your daily transactions much easier. The card offers greater security and reliability. Moreover, it provides a huge number of reward points on international transactions. The default reward rate on this card is 0.125%. Features and Benefits:
The card offers 1 reward point on every purchase of Rs.200. The reward rate is accelerated 4 times on international spends; that is, it becomes 0.5%. If you book your movie tickets on BookMyShow using your Platinum debit card, you will be eligible to avail Rs. 100 off twice in a month. Domestic Airport lounge access.
14. Axis Burgundy World Debit Card
Annual Fee: Nil Axis Burgundy World Debit Card is a perfect choice if you are someone who travels a lot. This card gives you a variety of travel benefits. Its new contactless feature lets you experience faster and safer shopping in selected stores. It comes with the best banking solutions and some enhanced features like high transaction limits and free ATM withdrawals from any bank’s ATM. Features and Benefits:
The card offers many exciting offers, which include discounts at some restaurants, movie tickets, insurance covers, and fuel surcharge waivers. You will earn 2 edge royalty points for every Rs. 200 spent within India and 6 edge royalty points for every Rs. 200 spent internationally. It offers complimentary lounge access at some selected airports in India to make your travelling more comfortable.
15. HDFC Women’s Advantage Debit Card
Annual Fee: Rs. 150 + GST HDFC has launched this card exclusively for women. The HDFC Women’s Advantage Card mainly focuses on your shopping needs as it offers great cashback on insurance, mutual funds, fuel, and more. You will earn 1 reward point on every purchase of Rs. 200 on SmartBuy, Telecom, PayZapp, Utilities, Groceries, Supermarkets, etc. The points earned are valid for a year. Features and Benefits:
The card offers protection against fire and burglary of up to Rs. 2 Lakhs. The customer enjoys a 50% discount on locker fees for the 1st year. It offers Insurance Coverage against death by air/ road/ rail worth Rs. 5 Lakhs. This card supports contactless payment, which helps you facilitate fast, easy, and secure transactions at any retail outlet.
16. JetPrivilege HDFC Bank World Debit Card
Annual Fee: Rs. 500 plus GST HDFC Bank Debit Card is a popular debit card by HDFC. It is intended especially for tours and travels. All the money spent on travelling per month can be transformed to JP Miles through this card, that can be then used in flights, free of cost. It also comes with various features, such as Free Personal Accidental Death Insurance, savings for buying fuel at any domestic petrol pump, etc. Features and Benefits:
3,000 JPMiles as Welcome Benefit. Discount vouchers for flight tickets when you book on the official website of Jet Airways. Earn 2000 JPMiles as well as discount vouchers on renewal. JPMiles Programme: Earn 2 JPMiles for every Rs. 150 that you spend when you purchase tickets at Point-Of-Sale. 5% discount for booking any domestic ticket through Jet Airways. Insurance cover worth Rs. 25 lacs. 0% Surcharge for filling fuel at any petrol pump in India. The MasterCard Lounge Access Program allows access to many lounges in Airports anywhere in India.
17. HDFC Times Points Debit Card
Annual Fee: Rs. 650 plus taxes It is an online Debit Card, and a popular one, available for both residents and NRIs. It is available with a several benefits for aspects like online shopping, dining grocery partners, etc. You can earn Times Points for every shopping you do and obtain maximum rewards. Features and Benefits:
Insurance amount of Rs. 2 lakhs in case of fire and burglary. Transactions above Rs.5,000 can be converted to EMIs at no additional cost, for purchasing smartphones, apparel, furniture, and electronics. Daily domestic Shopping Limit of Rs. 3.5 lakh Daily domestic ATM Withdrawal Limit of Rs. 1 lakh Complimentary lounge access at all airports in India.
Also Read: 28 Best Credit Card in India
18. Axisbank Prime Titanium Debit Card
Annual Fee: Rs. 150 plus taxes This card is a coveted basic debit card provided by Axis Bank, and there are many reasons for this. It gives the liberty of having money in your hands at all points of time, without carrying a heavy wallet while shopping, eating out, etc. It allows smooth and easy transactions and offers several perks as reward points for transactions using this card. Features and Benefits:
Debit Card PIN can be created anywhere and anytime. ATM withdrawal limit of Rs. 50,000. Shopping transaction limit of Rs. 1 lakh. With MyDesign, create your individual style by getting your desired picture printed on your card. eDGE Loyalty Rewards Program for transactions, swiping your card, etc. Insurance coverage of Rs. 3 lakhs in case of accidents or death.
19. Axis Priority Platinum Debit Card
Annual Fee: Nil Axis Bank has designed this card especially for its Priority customers. This is a unique debit card, created to highlight exclusivity, is filled with various thrilling and rewarding features and benefits, that are available with transaction by this card. Features and Benefits:
Earn cashback when you spend on movies. Daily cash withdrawal limit of Rs. 1 lakh. Daily limit of Rs. 4 lakhs for purchasing using this card. No charge or fee required for withdrawing cash from any domestic ATM. Axis Bank Dining Delights program allows discounts of more than 15% at over 4,000 restaurants in India. Fuel surcharge waiver amounting to Rs. 200 each month. Insurance coverage of Rs. 5 lakhs in case of accidents or death.
20. Indusind Signature Exclusive Debit Card
Annual Fee: Rs. 5000 plus taxes in first year, Rs. 1500 plus taxes from the next year IndusInd Bank Signature Debit Card offers exciting features and benefits, greater convenience in terms of usage, and choice of not carrying a wallet heavy with money, for shopping, entertainment and dining purposes. It allows customers to make payments and transactions just by one swipe of the card. Features and Benefits:
Along with cashback on transactions, you can get IndusMoney points. Bonus points of 500 for first swipe, 200 for activating the card at any IndusInd Bank ATM, 100 for activation of mobile banking. Daily cash withdrawal limit of Rs. 1.5 lakhs. Daily limit of Rs. 3 lakhs for purchasing using this card. Fuel surcharge waiver amounting to Rs. 250 each month. Insurance coverage of Rs. 2 lakhs in case of accidents or death.
Also Read: CRED Credit Card Apply Process Explained
21. SBI Global International Debit Card
Annual Fee: Rs. 125 plus taxes for annual maintenance Features and Benefits:
Shopping at 52 Lakh merchant outlets in India, and more than 30 million international outlets. Purchasing movie tickets, paying for bills, travelling and other online purchases and online transactions. Cash withdrawal from 43,000 SBI ATMs or other ATMs, both domestic and global. Safe and secure online shopping and e-commerce transactions. Maximum 5 daily transactions without pin can be conducted using NFC enabled Card in NFC terminal, up to Rs. 5000. Daily cash withdrawal limit of Rs. 40,000.
22. HSBC Premier Platinum Debit Card
Annual Fee: Nil HSBC Premier Platinum Debit Card comes with numerous privileges and is perfect for your daily purchasing needs. The HSBC ATMs, as well as the affiliated ATMs, give you access to a number of merchant outlets In India as well as worldwide. You can also earn extra loyalty points as you make your expenses. These points can later be redeemed at merchant outlets. Features and Benefits:
Daily cash withdrawal limit of Rs. 250000. Access to best dining privileges in metro cities of Mumbai, Bangalore, Delhi, and Kolkata. 24-hour access to concierge services and advantages as a HSBC Premier Platinum Debit Cardholder. Earn reward points for purchases at specified merchant outlets and banking transactions. The Lost Card Liability Feature gives insurance against loss of a card, if it is reported within 30 days.
Also Read: HDFC MoneyBack Plus Credit Card Review Can a minor below 18 years get a debit card? According to RBI, all children above 10 years of age are eligible to open their savings account, either individually or under Guardianship until 18 years. A child can access a savings bank account without control of his/her parents if he/she can do the signature. Though children can access their own bank account, issuance of the debit card depends on that particular bank. Some banks allow issuing debit cards for a minor account such as ICICI, HDFC, and Axis Bank, while other banks do not issue debit cards for minors due to the security reasons. According to the Negotiable Instrument Act, any sort of contract with a person below 18 years of age is considered void since a minor will not be held responsible in case the bank faces any fraud or loss. Also, cheque books cannot be issued to minors for the same reason. Recommended: 11 Best Forex Cards in India You may get a huge variety of debit cards to choose from, as every bank offers several debit and credit cards of different categories. All the debit cards mentioned above are best and preferable, but it depends on you, as a customer, to consider every aspect of it before opting for one. You should first calculate your requirements and then check for the option that meets most of them. Also, make sure you trust the bank before opening a bank account.
