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OneCard Credit Card Review: Benefits, Charges, Eligibility, How to Apply

OneCard is a lifetime-free metal credit card for Indian residents aged 18+, issued by six banks; interest is 3.75% a month and forex markup 1%.

Written by Vikram Desai

Updated on 17 September 2026·8 min read

On this page10 sections

The OneCard credit card (One Credit Card) is a lifetime-free metal credit card with no joining or annual fee. You apply in the OneCard app if you are an Indian resident aged 18 or over. The card is issued by one of six partner banks: BOBCARD, CSB Bank, Federal Bank, Indian Bank, SBM Bank India or South Indian Bank.

Key facts

Item	Position on 17 September 2026
Joining and annual fee	Nil for the primary card and add-on cards
Issuing banks	BOBCARD, CSB Bank, Federal Bank, Indian Bank, SBM Bank India, South Indian Bank
Minimum age	18 years; OneCard publishes no upper age limit
Where it is offered	Metal card in 67+ cities; an FD-backed card elsewhere
Credit score	750 or above improves your chances of approval
Interest rate on unpaid dues	3.75% a month (45% a year)
Interest-free period	Up to 48 days
Forex markup	1% of the transaction, plus GST
Reward rate	1 point per ₹50 spent; 5X points on your top 2 spend categories each month
Networks	Visa, Mastercard and RuPay

OneCard benefits

Item	Details
No fees to hold the card.	Every issuer’s Key Fact Statement (KFS) lists nil joining and annual fees, and nil fees to redeem reward points.
Rewards.	You get 1 reward point for every ₹50 spent, with fractional points on smaller amounts. A ₹25 recharge earns 0.5 points.
5X on top categories.	Spend at least ₹750 in each of three categories in a month. Your top two categories then earn five times the points, credited on the 10th of the next month.
Pay with points.	Swipe right on a transaction in the app to pay for it with points, for purchases less than two months old.
Low forex markup.	Foreign-currency spends carry a 1% markup plus GST. Our page on forex markup on credit cards shows how this compares.
Fuel surcharge waiver.	Up to 1% of the transaction, capped at ₹400 a month.
App controls.	Lock the card and set limits for domestic, international, online, offline and contactless use. Contactless payments up to ₹5,000 need no PIN in India.
MyFamily.	You can share your limit with family members, who get their own card.

Reward points do not expire, but Federal Bank’s and South Indian Bank’s terms cancel them if the card is not used for more than 365 days. No points are earned on fuel, rent, money transfers, cash withdrawals or wallet loads. Bills and utilities stopped earning points on the Federal Bank card from 15 July 2026 and on the South Indian Bank card from 15 September 2026.

OneCard charges

The fees below come from each issuer’s KFS. Add 18% GST to every fee and to interest.

Charge	Amount
Interest on unpaid dues	3.75% a month, 45% a year
Forex markup	1% of the transaction
Rent paid through third-party apps	2% (BOBCARD, CSB, Indian Bank, South Indian Bank); 1% (Federal Bank, SBM)
Wallet loads once monthly spends on them reach ₹10,000	2% (1% at SBM)
Education fees through third-party apps	1% on the BOBCARD card from 29 August 2026
Over-limit fee	2.5% of the over-limit amount, minimum ₹500 (SBM lists nil)
Cash withdrawal	2.5% of the amount on the CSB card; Federal Bank lists it as not applicable
Cancelling within 6 months of activating the virtual card	₹3,000 for a metal card, ₹500 for a plastic card
Add-on metal card	₹3,000
Card replacement	Metal ₹3,000; second plastic ₹145; third plastic onwards ₹500

Late payment charges

Outstanding amount	Fee
Up to ₹250	Nil
₹251 to ₹1,000	₹250
₹1,001 to ₹5,000	₹500
₹5,001 to ₹25,000	₹1,000
Above ₹25,000	₹1,250

BOBCARD raises these fees from 11 October 2026. From that date it charges ₹700 on ₹1,001 to ₹5,000 and ₹1,000 on ₹5,001 to ₹10,000. The fee is ₹1,100 on ₹10,001 to ₹15,000, ₹1,200 on ₹15,001 to ₹25,000 and ₹1,300 above that.

OneCard interest rate and billing

Interest is charged at 3.75% a month on unpaid dues. You lose the interest-free period on new purchases if you did not pay the previous bill in full. The payment due date is 18 days after the statement date, so the interest-free period runs up to 48 days.

Federal Bank sets the minimum amount due at 5% of the outstanding or ₹100, whichever is higher, plus any EMI, over-limit amount and unpaid past minimum dues. Paying only the minimum keeps the account regular, but interest runs on the rest. Try the credit card interest calculator to see what a carried balance costs. The billing cycle guide explains how the free period works.

OneCard eligibility and age limit

Item	Details
Age.	At least 18 years. The application declares that you are a resident Indian over 18.
Residency.	Indian resident with a valid government ID.
Location.	The metal card is offered in 67+ cities. Outside them, you can apply for the FD-backed card.
Credit score.	A score of 750 or above improves your chances. New-to-credit applicants can take the FD-backed card.
Employment.	Both salaried and self-employed people can apply.
Documents.	OneCard says no income proof is needed. Keep your PAN ready, and complete KYC in the app.

Your bank decides approval and the credit limit. Our credit card eligibility guide covers what banks check.

FD-backed OneCard

SBM Bank’s terms require a fixed deposit of at least ₹5,000. The credit limit is 90% of the deposit, from ₹4,500 up to ₹2.5 lakh. The deposit renews automatically while the card is live. If dues stay unpaid for 60 days past the due date, SBM can break the deposit to recover them. Federal Bank and South Indian Bank also offer FD-backed versions.

How to apply for OneCard online

Download the OneCard app from the Play Store or App Store.
Sign up with your mobile number and email ID.
Enter your details, including your PAN.
Select your issuing partner bank.
Complete KYC, check the offer and confirm your application.
Activate the virtual card in the app and start using it.

OneCard says the application takes under 15 minutes. The metal card arrives in 5 to 7 business days, according to OneCard’s metal card page. Federal Bank’s page says 3 to 5 days.

Pros and cons

Pros	Cons
No joining, annual or redemption fee	Base reward rate of 1 point per ₹50
1% forex markup	45% a year interest on unpaid dues
Metal card with full app controls	₹3,000 to replace a metal card, or to cancel one within 6 months
FD-backed option for new-to-credit users	No points on rent, fuel, wallet loads and, at some issuers, bills
Fractional points, no minimum to redeem	2% fees on rent and wallet loads at most issuers

OneCard’s published feature list does not include airport lounge access. IDFC FIRST Bank, an earlier issuer, no longer appears in OneCard’s list of partner banks.

Your rights as a cardholder

Under the RBI’s 2025 card directions for commercial banks, your bank must give you a one-page KFS with the application. It must close your card within seven working days of your request once dues are paid, or pay you ₹500 a day for the delay. The co-branding partner cannot access your transaction information, and the bank is liable for the partner’s acts.

Frequently asked questions

What is OneCard?

OneCard, or One Credit Card, is a co-branded metal credit card managed through the OneCard app of FPL Technologies. A partner bank issues the card and sets your limit.

What is the age limit for the OneCard credit card?

You must be at least 18 years old. OneCard’s eligibility page gives no upper age limit.

Is OneCard really lifetime free?

Yes, all six issuers charge no joining or annual fee. You can still pay other charges, such as ₹3,000 for cancelling the metal card within six months of activation.

What is the OneCard interest rate?

3.75% a month, or 45% a year, on unpaid dues, plus GST. Paying the full bill by the due date avoids it.

Which banks issue OneCard?

BOBCARD, CSB Bank, Federal Bank, Indian Bank, SBM Bank India and South Indian Bank. You pick the issuing bank during the application.

Can I get OneCard without a credit score?

Yes, through the FD-backed card. At SBM Bank, a deposit of ₹5,000 or more gives a limit of 90% of the deposit.

What are the disadvantages of OneCard?

The base reward rate is 1 point per ₹50, and interest on carried balances is 45% a year. Rent and wallet loads attract fees and earn no points.

Sources

One Credit Card eligibility — OneCard (checked 17 Sep 2026)
Metal credit card — OneCard (checked 17 Sep 2026)
Frequently asked questions — OneCard (checked 17 Sep 2026)
Key Fact Statement, BOBCARD One co-branded Credit Card, w.e.f. 11 Sep 2026 — BOBCARD (checked 17 Sep 2026)
Key Fact Statement, Federal Bank One Co-Branded Credit Card, w.e.f. 30 Apr 2026 — Federal Bank (checked 17 Sep 2026)
Federal Bank One Co-Branded Credit Card terms and rewards programme — Federal Bank (checked 17 Sep 2026)
Key Fact Statement, SBM One co-branded Credit Card, w.e.f. 29 Jun 2026 — SBM Bank India (checked 17 Sep 2026)
SBM One co-branded Credit Card MITC and secured card terms — SBM Bank India (checked 17 Sep 2026)
Key Fact Statement, Indian Bank One Co-Branded Credit Card, w.e.f. 7 Jul 2026 — Indian Bank (checked 17 Sep 2026)
Key Fact Statement, SIB One co-branded Credit Card, w.e.f. 15 Sep 2026 — South Indian Bank (checked 17 Sep 2026)
SIB One co-branded Credit Card terms and rewards programme — South Indian Bank (checked 17 Sep 2026)
Key Fact Statement, CSB One Co-Branded Credit Card — CSB Bank (checked 17 Sep 2026)
Indian Bank One Co-Branded Credit Card MITC — Indian Bank (checked 17 Sep 2026)
SBM OneCard TnC and MITC — SBM Bank India (checked 17 Sep 2026)
OneCard — Federal Bank (checked 17 Sep 2026)
CSB OneCard credit card — CSB Bank (checked 17 Sep 2026)
BOBCARD One Credit Card — BOBCARD (checked 17 Sep 2026)
Commercial Banks – Credit Cards and Debit Cards: Issuance and Conduct Directions, 2025 — Reserve Bank of India (checked 17 Sep 2026)

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