Indian Bank PM SVANidhi
KeepA ₹10,000 revolving limit on a UPI QR code, free for life — and a card that is forbidden to leave the country.
no published earn rate to price
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
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. Everything we can source — the fee, the charges, the migration that put this card in your hand — is above and stands on its own; this card is simply not on the board, not in the calculator, and cannot win a best-of call until Indian Bank publishes terms we can cite.
Why we decline to value some cards, and what it takes to change that →
3 notes on the card itself: how it is issued · the network variants · why it ranks #430
Why #430 Carried, not valued — and it should be read as a credit line, not a card. The fee is documented to the rupee and the earn is documented only as a pointer to another card's programme, so we print no rate at all.
The take
This is the credit-card leg of the Government of India's PM SVANidhi scheme, and Indian Bank sells it as exactly that: "a UPI linked RuPay credit card specially made for PM SVANidhi street vendors". The idea is a swap. A vendor who has been repaying a fixed monthly term loan gets a revolving limit instead, so the working capital is there on demand and restores itself on repayment rather than needing a fresh loan every time. The limit opens at ₹10,000 and climbs to ₹30,000 on clean repayment, the card runs five years, and it is free for life in the bank's own words — NIL joining, NIL annual maintenance, printed in both the MITC and the Key Fact Statement. Purchases revolve at 1.99% a month (23.88% a year), which is cheap against what this borrower's alternatives cost, and there is no late fee at all on dues up to ₹500. Now the part a travel reader needs stated plainly, because it is the whole shape of the product: this card is forbidden to leave India. No international or forex transactions, no cash withdrawal anywhere by any means, and a merchant-category block that names foreign airlines specifically. There is no lounge access. On rewards Indian Bank writes a pointer and not a number — "As per existing reward point program for card type" — so we print nothing rather than borrow the RuPay Classic's 1% and quote a rate whose own exclusion list starts with UPI payments under ₹2,000, which is this card's entire reason to exist. What it does carry, unusually for a scheme card, is the full Classic insurance schedule: ₹2,00,000 for death by air accident, ₹1,00,000 for any other accident, hospitalisation cover, ₹5,000 of baggage and ₹10,000 of purchase protection, live from the day the card is issued. Read it as a credit line with a QR code attached — which is what the scheme designed.
Your renewal — keep, downgrade or cancel
There is no renewal arithmetic to run on this card yet — and a break-even we cannot source is not one we will print.
the whole desk — what changed, the downgrade, and what we cannot price →
Keep, downgrade or cancel
what we can and cannot price
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. A break-even is the spend at which value crosses a fee, and we are short one side of that sentence — so this desk prints no ladder, no crossing and no ₹0 standing in for either. What we can source about this card is under Sources.
Your copy of this card
You hold this card.
Kept on this device, in your browser. It is never sent to us, never synced, and nothing else on the site reads it yet.
The downgrade
Indian Bank publishes no document naming a card you can step down to, so we name none — an invented product change is a phone call you would waste. That leaves keep or cancel, and we cannot price either side of it.
If you call to cancel
What the bank offers to keep you is the one fact this desk cannot compute. We are collecting those reports — dated, and only in aggregate — before publishing any: an offer one reader was made is not one you are owed. Called about this card? Tell us what they offered →
The desk publishes subscribable .ics feeds for the dates it knows — offer deadlines, devaluations, expiry audits. Your renewal date is not one of them: only your statement knows it.
What's good
- Free for life — NIL joining and NIL annual maintenance, printed twice in Indian Bank's own charge grid and again in the FAQ
- Revolving limit opens at ₹10,000 and rises to ₹30,000 on clean repayment; valid five years
- UPI-linked RuPay, so the limit spends at any QR code in the country
- Purchases revolve at 1.99% a month (23.88% a year), and nothing at all is charged on dues up to ₹500
- Full Classic insurance from day one: ₹2,00,000 air accident, ₹1,00,000 other accident, ₹5,000 baggage, ₹10,000 purchase protection
- Soft charge sheet — ₹25 over-limit, ₹25 limit enhancement, ₹100 card re-issue, ₹250 late fee only above ₹500 of dues
Watch out
- NO international or forex transactions — the charge grid reads "Foreign Currency Transaction Fee (Mark-up fee) — NA" and the FAQ blocks them outright
- Foreign airlines are on the blocked merchant-category list by name, alongside liquor, gambling and casinos
- NO cash withdrawal at any ATM, in India or abroad, and none at a point of sale either
- No lounge access of any kind — the word appears nowhere in Indian Bank's PM SVANidhi documents
- Indian Bank publishes NO reward rate for this card. The grid says only "As per existing reward point program for card type" — we will not print a number off a pointer
- Eligibility is the scheme's, not the bank's: you must be a PM SVANidhi street vendor
- Activate within 60 days of receipt or the card goes inoperative and the bank may not issue a fresh one
- The interest-free period is stated two ways in one document — "Minimum 20 days & Maximum up to 51 days" in the MITC's own clause, against "interest free period of 45 days" in the charge grid beside it
What these points actually fly
Indian Bank has not published what this card earns, so there are no points here to fly with — not zero points, and not points that go nowhere: nothing stated either way. The moment a benefit sheet exists we will price whatever it names.
what the cards that DO reach a chart can fly — 2,196 corridors priced →
Lounge access
0 of 793 tracked doors
No lounge access. This card opens exactly 0 of 793 tracked lounge doors — board with the crowd, or find a card that doesn't →
Can you get it?
income, age and the route in
The cutoffs and the actual route in — not the "apply now" button, the door that opens.
Invite-only — there is no public application form. The bank calls you.
Not an open application, and not a card a branch will sell you. It is offered to PM SVANidhi beneficiaries — street vendors already inside the Government of India scheme — as a replacement for the term-loan model they have been repaying. The operating limit is set at ₹10,000 to start and stepped toward ₹30,000 on satisfactory usage, and the card must be activated within 60 days of receipt or it goes inoperative.
per the official Indian Bank MITC — figures marked (community) aren't in the PDF; the issuer won't say · filter the board by what you can get →
The fine print
6 of 7 MITC rows published
What the MITC actually says — the rates, fees and cutoffs the brochure skips.
Fees verbatim from the head of the document: "No Joining Fee for primary cardholder and add-on cardholder/s. AMC Charges: NIL", and the Schedule of Charges repeats it as rows 1 and 4 — the same grid the Key Fact Statement (w.e.f. 01 Oct 2025) reproduces, so the lifetime-free zero is printed in two documents rather than inferred from one. THE ROW THIS EXISTS TO RECORD: rewards are a POINTER and not a rate — "11 Reward point — As per existing reward point program for card type" — while the very next row, "12 Insurance coverage — As per available insurance coverage for card type", IS resolved a page later into a printed Classic table (₹2,00,000 air accident, ₹1,00,000 other accident, hospitalisation ₹50,000 to age 65 and ₹25,000 for 66–80, baggage ₹5,000, credit shield ₹10,000, purchase protection ₹10,000, live from issuance but payable only if the card was used in the 90 days before the accident). The document resolved the pointer it meant to grant and left the other one open, which is why the card carries the absent (unpublished) earn rate. Other charges: ₹25 limit enhancement, ₹50 cheque return, ₹100 card re-issue, ₹25 pin-mailer re-issue, ₹50 per statement retrieval, ₹75 per charge slip, ₹35 ATM balance enquiry, NIL hot-listing. Surcharge 2.5% or ₹10 at petrol pumps and 1.8% or ₹10 on railway tickets, whichever is higher. Billing on the 1st, due on the 21st, minimum payable 10%. THE INTERNAL DISAGREEMENT: the interest-free clause says "Minimum 20 days & Maximum up to 51 days" with a worked illustration, the charge grid three lines later says "after interest free period of 45 days", and the FAQ says "20 to 50 days" — three numbers, one card, none of them picked here. Drawl limits: ATM cash NIL, POS/e-com up to the card limit. NO LOUNGE CLAUSE APPEARS ANYWHERE IN THE DOCUMENT.
per the official Indian Bank MITC · reviewed 10 Jul 2026
What's changed for this card
nothing tracked yet — which is itself a fact
No tracked devaluations or changes yet — this card's history starts here.
Verified against Indian Bank's own documents on
Not published , and we will not invent it: the earn rate and the currency it earns.
Every document behind this page — 4 of them, each with the day we read it
- official Indian Bank's PM SVANidhi Credit Card page — the product statement and the index to its MITC, Key Fact Statement and FAQ
- official MITC for the PM SVANidhi Credit Card — NIL joining and NIL annual maintenance, 1.99% a month, the no-cash and no-forex rules, and the Classic insurance schedule
- official Key Fact Statement, effective 01 October 2025 — the same charge grid, NIL joining and NIL annual
- official Indian Bank's PM SVANidhi FAQ — the ₹10,000-to-₹30,000 limit, five-year validity, the lifetime-free statement in words, and the blocked-category list