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Best No Annual Fee in India 2025

Compare the best no annual fee in India. 1 cards ranked by our experts.

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Best for: Weekend shoppers, online shopping enthusiasts, users seeking lifetime free cards, Amazon/Zomato regulars, budget-conscious millennials

Fi MagniFi Credit Card

4.1 CardNitty rating
APPLY NOW on Federal Bank's website

Annual fee

FREE

#1

Rewards rate

₹0.50 - ₹5.00/₹100

#49

Joining fee

FREE

#1

Interest rate

45.00%

#244
Card details
Forex Markup
3.50% #75
Min Credit Score
730+ #180
Min Monthly Income ₹20
Categories Cashback, Lifestyle, No Annual Fee, Rewards, Shopping
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CardNitty's take

Pros

  • Lifetime free - zero joining and annual fees forever
  • 5% cashback on all weekend spends (Saturday & Sunday)
  • 20% instant discount on Amazon, Zomato, Zepto, BookMyShow (weekends)
  • Up to 50% off on gift vouchers
  • 1,000 Fi-Points welcome bonus on first Rs 1,000 spend
  • Monthly reward cap of 2,000 Fi-Points (Rs 500 value) protects profitability
  • Fi-Points never expire - redeem for cash, flights, miles, vouchers
  • Fully digital app-based card management via Fi Money app
  • Easy redemption - no minimum threshold or redemption fees
  • Perfect for weekend warriors and online shoppers

Cons

  • Very low weekday rewards - only 0.5% cashback
  • No lounge access benefits whatsoever
  • No travel or personal accident insurance coverage
  • High forex markup of 3.5% (poor for international travel)
  • High interest rate of 45% per annum on unpaid balances
  • Monthly reward cap of 2,000 Fi-Points limits high spenders
  • Partner discounts limited to 4 brands (Amazon, Zomato, Zepto, BookMyShow)
  • Cash withdrawals not permitted on this card
  • Fuel, utilities, wallets, rent excluded from rewards
  • 20% partner discount capped at Rs 100 per brand per month
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