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7 Best Advantages of Debit Card you Must Know!

Updated on June 13, 2024 , 63305 views

Online payments have changed the landscape of the traditional method of paying money. These days the transactions have become easy, quick and hassle-free-- all thanks to debit cards. Due to the facilities offered by Debit Card-- spending money, paying bills and shopping experiences is getting way simpler than before. Let’s explore more by knowing unique advantages of debit card to use in your daily lives.

Advantages of Debit Card

Advantages of Debit Card

Debit cards are very easy to use and they have their own advantages such as-

1. No annual fees

Most banks have no annual fees, although sometimes a small amount may be deducted as a service or maintenance charge. The charges may vary Bank to bank. For example- SBI Classic Debit Card has a fee of Rs. 125+ GST for annual maintenance.

2. No interest charges

Unlike credit cards, there are no interest charges on debit cards as the money is directly debited from your bank account.

3. Protection

They are quite secured as you need to enter the PIN code before every transaction. Also, most banks provide 24x7 customer service. In case of loss or theft, you can immediately contact your respective bank and block the card.

4. Emergency

As debit cards are linked directly to your bank account, you can easily get money from any ATM.

5. The practice of budgeting

With credit cards, you can buy anything, even when you don’t have money. But with a debit card, you have a limitation as you are directly spending from your bank account. So this always sets a limitation in a user before swiping the card.

6. Smart choice

One of the advantages of debit card is there are no dues, not interest rates, no harm to Credit Score, you only spend how much you have in your bank account. Therefore, the debit card is undoubtedly a smart choice as compared to credit cards.

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7. EMI options

Initially, there was no EMI option available on debit cards, but recently, e-commerce sites are Offering debit card EMI shopping option, wherein, you can buy certain things on EMI and pay monthly via your debit card. This, however, may attract certain interest rates.

Note-At times certain ATM machines charge a small amount while withdrawing. This usually happens when you take out cash from another bank ATM or when you exceed the withdrawal limit. So, it is suggested to check before drawing the money.

Some Guidelines to Follow While Using a Debit Card

  1. Ensure that the personal Identification Number (PIN) is not revealed to anybody as it has direct access to your bank account.

  2. To avoid any fraudulent activity, make sure that you don’t share your PIN with anyone.

  3. Also, it is equally important to check that the Card Verification Value (CVV) number is not exposed when you are in public.


By reading the advantages of debit card, you would have come to know why having a Debit Card is beneficial as it will cater to your needs and demands. It basically puts a limit on your spending habit, so you can only spend as per your budget.

All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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Rated 3.8, based on 14 reviews.

Donnella Simpkins, posted on 18 Aug 23 4:29 AM

Good of Debit card learn that first time.

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