The Best Instant Approval Credit Cards in India Today [August,2023]

It’s no secret that credit cards are a great way to establish and improve your credit rating and can also be a boon in emergencies. If you don’t have a credit card and require urgent funds, the application process for standard Credits cards can take a fair bit of time. This is where Instant Approval Credit Cards can come to your aid. Instant approval cards do not require additional paperwork or proof of income and can be processed within a day or two after the bank approves your application. While there are a lot to choose from, making the right choice is crucial.

This list of the best instant approval credit cards in India can help you do just that. 

1. Kotak 811 #DreamDifferent Credit Card

The Kotak 811 #DreamDifferent Credit Card is an instant approval credit card that gives you up to a 90% credit limit on your fixed deposits with Kotak Mahindra Bank. You must have an FD of Rs 15,000 or more to qualify for this Instant Credit Card. 

Highlights of the 811 #DreamDifferent Credit Card

• No Joining or Annual Fees
• 500 bonus reward points on spending above Rs 5000 in the first 45 days.
• Rs 750 Cashback on annual spends above Rs 75000\-
• A cash withdrawal facility which is interest-free for up to 48 days
• Credit Limit up to Rs 16 lakhs
• 2 reward points against every Rs. 100/- spent online
• 1 reward point against every Rs. 100/-  on other spends
• 1% Fuel Charge Wavier is you spend between Rs 500 to Rs 3000 at any petrol pump in the country. 
• 1.8% Surcharge Waiver when booking tickets through IRCTC online.

2. SBI SimplySAVE Credit Card

SBI SimplySAVE Credit Card, as the same suggests, helps you earn a lot of rewards and save money in the process. With the SBI SimplySAVE Credit Card, you earn up to 10x reward points on Dining, Movies, Department stores and Grocery Spending. 

Highlights of the SBI SimplySAVE Credit Card

• 2000 Bonus points if you spend Rs 2000 or more in the first 60 days. 
• 10x Reward points per Rs 150 spent on Dining, Movies, Department stores and grocery.
• On all other transactions, earn 1 reward point per Rs 150 spent (4 Reward Points = Re 1).
• 1% Fuel Charge Wavier is you spend between Rs 500 to Rs 3000 at any petrol pump in the country. 

Please note that this card has a one-time Annual Fee of Rs 500 and a Renewal Fee of Rs 500 per annum. You can get an annual membership fee reversal from the second year onwards if you spend more than Rs 1 lakh on your SBI SimplySAVE Credit Card the previous year. 

3. Axis Bank Insta Easy Credit Card

The Axis Bank Insta Easy Credit Card is a physical instant approval credit card issued again with your Fixed Deposits with Axis Bank. This card comes with many offers and benefits, and the best part is that it does not have an annual fee.

Highlights of the Axis Bank Insta Easy Credit Card

• Cash Withdrawal of up to 100% of your available credit limit from day one.
• You can choose your credit limit up to 80% of the value of your Fixed Deposit with the bank.
• 1% Fuel Surcharge Wavier on all fuel transactions between Rs 400 and Rs 4000 only in any fuel station across the country. (You do not earn reward points on Fuel Transactions with this card)
• Credit-free period of 50 days

4. Bajaj Finserv RBL Bank super card

The Bajaj Finserv RBL Super Card is a result of a collaboration between Bajaj Finserv and the RBL Bank. It is an Instant Card that is available to Indian Citizens above the age of 25 with a credit score of above 750 with no history of defaults on any form of credit payments. 

Highlights of the Bajaj Finserv RBL Super Card

• This card enables you to convert purchases above Rs 2500 into easy EMIs.
• You can convert your available cash limit into a personal loan for 3 months with no processing fee and an extremely low-interest rate of 1.16 % a month. 
• A 50-day interest fee period on Cash Withdrawals.
• 5% Cash Back on down payments at any Bajaj Finserv Partner Stores. 
• 1 + 1 Movie Tickets on Book My Show
• With this card, you can save up to Rs 55,000 per annum on your annual spending. 

Conclusion

The best instant approval credit cards in India today are only available to a select few. If you have a good credit history (or at least no bad credit), then you’ll have no problem getting one of the top instant approval credit cards in India. These credit cards are the most useful for day-to-day transactions. So, if you are looking for a good credit card with a reasonable interest rate, you must go for one of these options.

FAQs

Q. How can you apply for an Instant Approval Credit Card?

Instant Approval Credit Cards are usually available as pre-approved offered when you log into your account with a specific bank. Some of these cards are provided against FDs you already have with these banks. In the case of other instant credit cards, you can apply directly via the credit card approver’s website. 

Q. Are all Instant Approval Credit Cards Secured? 

No, not all instant approval credit cards are secured. Only the Kotak 811 #DreamDifferent Credit Card and the Axis Bank Insta Easy Credit Card are secured cards on this list. You can apply for the other cards on the credit card provider’s websites. 

Q. Do all Instant Credit Cards have annual Membership fees?

No, not all cards come with annual membership fees. Some don’t have one, and a few do not charge a fee for the first year but do from the second year onwards. However, if there is one, there is always an option to waive the annual fee if you spend a minimum amount on your card based on the terms and conditions.

Q. Is using Instant Credit Cards a Good Idea? Instant Credit cards can come to your aid if you urgently need funds. Nevertheless, as with all credit cards, you must be mindful of how you use them to avoid falling into a debt trap. A good practice is never to spend more than 50% of your available credit limit.