ICICI Bank PM SVANidhi Credit Card

ICICI's terms, updated on 9 October 2026, make it available from 20 October 2026 "for small vendors/ hawkers under PM SVANidhi Scheme", run jointly by the Ministry of Housing and Urban Affairs and the Department of Financial Services. It is the fifth bank's version this board carries, after Union Bank, BOBCARD, Indian Bank and PNB. The fee line is nil in every column — nothing to join, nothing in year one, nothing from year two, and no spend target to waive a fee that does not exist. The restrictions are written into the same document: no foreign-currency transactions and no dynamic-currency-conversion use, no cash at an ATM, and no supplementary card at all. Two carve-outs work in the holder's favour. Late-payment charges and interest apply only once the outstanding balance reaches ₹500, and an EMI on this card can be closed early with no foreclosure or prepayment charge. ICICI publishes nothing about what the card earns, has no product page for it, and states no credit limit, so this site carries it without valuing or ranking it. Treat it as a credit line for running a stall, which is what the scheme designed.

What's good

• Lifetime free on ICICI's MITC — nil joining, nil annual, and no spend target
• No late-payment charge or interest while the outstanding balance stays under ₹500
• No foreclosure or prepayment charge on EMIs taken on the card
• Available from 20 October 2026 to street vendors under the PM SVANidhi scheme, per ICICI's MITC

Watch out

• NO foreign-currency transactions — the MITC says they are "restricted" on this card
• NO ATM cash withdrawal
• No supplementary card — "no supplementary card will be issued"
• ICICI HAS NOT PUBLISHED ANY EARN or credit limit for this card, so this site carries it without valuing or ranking it
• From ₹500 of outstanding, ICICI's standard late-fee ladder and 3.75% a month interest apply — there is no scheme rate
• Eligibility is the scheme's, not ICICI's: the card is for street vendors under PM SVANidhi, and ICICI publishes no application route of its own
• No lounge access — the MITC's lounge section does not name this card

Fee row Nil joining, Nil annual in year one, Nil from year two, add-on Not Applicable, Nil reversal spend. Available from 20 Oct 2026 for small vendors and hawkers under the PM SVANidhi scheme (MoHUA with the Department of Financial Services). No foreclosure or prepayment charge on EMIs. First appears in the 16-Oct-2026 re-issue of the MITC last updated 09-Oct-2026; no reward, lounge, insurance, network or credit-limit clause names the card.

The document

Invite-only — there is no public application form. The bank calls you.

Not an open application. ICICI makes the card available, from 20 October 2026, to street vendors under the PM SVANidhi scheme, and publishes no product page or Apply flow of its own; the scheme's route runs through the PM SVANidhi portal and the vendor's chosen bank.

Every ICICI Bank change (16 since 2019, 9 of them cuts) · All changes across cards

Carried, not valued. ICICI documents the fee — nil to join, nil a year — and the restrictions, and publishes no earn at all, so there is nothing to rank. It is a working-capital line for street vendors with a card attached.

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Not valued. We can't value this card until the issuer publishes how it earns — every net-value number here would be a fee subtracted from rewards nobody has described. This card is not in our rankings, the calculator or the best-of lists until ICICI Bank publishes terms we can cite.

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