Updated September 28, 2026 · SumCue Editorial Team
ICICI Bank vs Nexo
ICICI Bank
Higher score in this comparison
Nexo
What sets them apart
| Compare | ICICI BankReviewVisitVisit | NexoReviewVisitVisit |
|---|---|---|
| Annual fee | ₹3,500 | €0 |
| APR | 9.99% to 16.5% | from 1.9%Lower |
| Currency conversion fee | 3.5% | 0.2% to 2.5%Lower |
| Rewards type | Points | Cashback |
| Rewards rate | 4 points per INR 100 international spend, 2 points per INR 100 domestic spend, 1 point per INR 100 utility and insurance spend | Up to 2% crypto cashback in NEXO Tokens, or 0.5% in BTC at Platinum tier, on purchases in Credit Mode |
| Perks | Welcome vouchers worth over INR 13,000 from Tata CLiQ, EaseMyTrip, Da Milano, Croma and EazyDiner, 2 complimentary international and 4 domestic airport lounge visits, Up to 4 complimentary golf rounds per month, 24/7 concierge service (i Assist), Air accident insurance cover up to INR 3 crore, 1% fuel surcharge waiver on fuel transactions up to INR 4,000, BookMyShow movie offers, up to INR 500 off the second ticket | Free ATM withdrawals up to EUR 2,000 / GBP 1,800 per month at Platinum tier, then 2% fee (min EUR/GBP 1.99), Apple Pay and Google Pay supported, Interest earned on unspent funds (Nexo Loyalty Program, up to 13% per year), Accepted at over 100 million merchants globally, Virtual card activated instantly with 50 USD balance; free shipping for physical card above 5,000 USD balance at Gold tier or higher, No monthly, annual or inactivity card fees |
| Credit needed | Good | Not confirmed |
| Cashback rate | Not confirmed | 0.5% to 2% |
Same on both: Card kind (Credit).
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Key differences
- Founded is lower at ICICI Bank: 1994 vs 2018.
- Nexo is licensed in 5 more countries.
- Nexo is available in 35 more countries.
- APR is lower at Nexo: from 1.9% vs 9.99% to 16.5%.
- Currency conversion fee is lower at Nexo: 0.2% to 2.5% vs 3.5%.
- Perks: only ICICI Bank offers Welcome vouchers worth over INR 13,000 from Tata CLiQ, EaseMyTrip, Da Milano, Croma and EazyDiner, 2 complimentary international and 4 domestic airport lounge visits, Up to 4 complimentary golf rounds per month.
- Perks: only Nexo offers Free ATM withdrawals up to EUR 2,000 / GBP 1,800 per month at Platinum tier, then 2% fee (min EUR/GBP 1.99), Apple Pay and Google Pay supported, Interest earned on unspent funds (Nexo Loyalty Program, up to 13% per year).
- Support channels: only ICICI Bank offers Phone.
- Support channels: only Nexo offers Email.
- Pricing model: only ICICI Bank offers Fixed rate.
Our verdict on each
ICICI Bank
ICICI Bank is a full-service Indian bank covering saving, spending and borrowing, so it suits customers who want one provider. The savings account pays 2.5% on a variable rate, with easy access to cash, bill payments and transfers by UPI, IMPS, NEFT and RTGS, and personal loans disburse instantly.
Nexo
Nexo suits businesses and crypto users who want a multi-currency card, with monthly and annual card fees of €0 and €0. The trade-off is tier-based cashback, foreign exchange costs, and custodial holding of supported crypto.
Score breakdown
| Area | ICICI Bank | Nexo |
|---|---|---|
| Cost | 8.6Card costs weigh heavy: an annual fee of INR 3,500 on the Sapphiro card, and personal loan rates of 9.99% to 16.5%. | 9.2HigherMonthly and annual card fees are €0 and €0, while foreign exchange costs are 0.2% to 2.5%. |
| Offer | 9.4Higher | 9.2The card supports crypto cashback, multi-currency use, virtual cards, travel, Apple Pay and Google Pay. |
| Trust | 9.0Higher | 8.3 |
Choosing between them
Pick ICICI Bank if trust matter most.
Pick Nexo if cost, apr, and currency conversion fee matter most.
From lowest to highest
| Fact | ICICI Bank | Nexo |
|---|---|---|
| APR | 9.99% to 16.5% | from 1.9% |
How they place
| Ranking | ICICI Bank | Nexo |
|---|---|---|
| Credit and debit cards | 43 of 1594 | 10 of 1594 |
| Credit cards | 15 of 421 | 2 of 421 |
Every fact side by side
| Fact | ICICI Bank | Nexo |
|---|---|---|
| Pricing model | Fixed rate | No annual fee |
| Features | Rewards | Multi currency, Crypto, Virtual card, Custodial, Travel |
| Audience | Not confirmed | Business |
| Legal entity | ICICI Bank Ltd. | DiPocket UAB |
| Headquarters | India | Not confirmed |
| Founded | 1994Lower | 2018 |
| Support channels | Phone, Help centre, Chat | Chat, Email, Help centre |
Loans
| Fact | ICICI Bank | Nexo |
|---|---|---|
| Loan amount | ₹50,000 to ₹5,000,000 | Not confirmed |
| Term | 12 to 72 months | Not confirmed |
| Arrangement fee | Up to 2% of loan amount plus taxes (Personal Loan processing charge) | Not confirmed |
| Credit check | Hard | Not confirmed |
| Funding time | Instant disbursement | Not confirmed |
| Rate type | Variable | Not confirmed |
| Lender type | Direct lender | Not confirmed |
| Free early repayment | No | Not confirmed |
| Eligibility | Indian citizens aged 18-58 years; salaried minimum monthly income 30,000 rupees | Not confirmed |
| Origination fee (%) | 2% | Not confirmed |
| Loan types | Personal, Debt consolidation | Not confirmed |
| Use cases | Home improvement | Not confirmed |
Savings
| Fact | ICICI Bank | Nexo |
|---|---|---|
| Headline rate | 2.5% | Not confirmed |
| Minimum deposit | ₹2,500 to ₹15,000 | Not confirmed |
| Access terms | Easy access to funds: cash withdrawals, utility bill payments and online fund transfers through UPI, IMPS, NEFT and RTGS | Not confirmed |
| Monthly fee | Not confirmed | €0 |
| Account kind | Easy access | Not confirmed |
Mortgages
| Fact | ICICI Bank | Nexo |
|---|---|---|
| Initial rate | 7.55% | Not confirmed |
| Maximum loan to value | 80% to 90% | Not confirmed |
| Purpose | Purchase, Remortgage | Not confirmed |
Crypto wallets
| Fact | ICICI Bank | Nexo |
|---|---|---|
| Wallet type | Not confirmed | Mobile |
| Custody | Not confirmed | Custodial |
| Coins supported | Not confirmed | 100 |
Where each stands against the rest
| Fact | ICICI Bank | Nexo | Median |
|---|---|---|---|
| APR | 9.99% to 16.5%below the median | from 1.9%lowest quarter | 11.635 |
| Currency conversion fee | 3.5%highest quarter | 0.2% to 2.5%below the median | 1% |
| Cashback rate | Not confirmed | 0.5% to 2%above the median | 1.5 |
Median across 486 listed providers.
Pros and cons
ICICI Bank
Pros
- Personal loans disburse with Instant disbursement, on amounts of INR 50,000 to INR 5,000,000 over terms of 12 to 72.
- The savings account is easy access, taking a minimum deposit of INR 2,500 to INR 15,000.
- The card pays points on spending, with lounge visits, golf rounds, concierge help and welcome vouchers added.
Cons
- Foreign spend on the card carries a currency conversion fee of 3.5%.
- Personal loan applications run a hard credit check, and good credit is the bar.
- Free early repayment is not offered, so settling a personal loan early carries a charge.
Nexo
Pros
- No monthly or annual card fees: €0 and €0.
- Crypto cashback is available in NEXO Tokens or BTC at Platinum tier in Credit Mode.
- Multi-currency use, virtual cards, travel, Apple Pay and Google Pay are supported.
Cons
- Foreign exchange costs are 0.2% to 2.5%, which may add to overseas spending.
- Supported crypto is held in custodial custody under custodial.
- Cashback and ATM terms depend on card tiers, so lower tiers receive less favourable benefits.
Who each suits
ICICI Bank
Who it suits
- Salaried Indian citizens of adult age who want savings, a card and loans from one bank.
- Savers comfortable with a variable savings rate and borrowers happy with a fixed rate loan.
- Cardholders who want a credit card with lounge, golf and concierge perks on top of points.
Who should look elsewhere
- wise, if a card with no annual fee matters most, since its annual fee is £0.
- bunq, if you would rather hold a euro account with an annual fee of €0 on the card.
- Varo Believe Secured Credit Card, if a secured card with an annual fee of $0 is the better fit.
Nexo
Who it suits
- Businesses seeking a multi-currency card with no monthly or annual card fees.
- Crypto users comfortable with crypto cashback and custodial custody.
- Travellers who want Mastercard, virtual-card, Apple Pay and Google Pay support.
Who should look elsewhere
- bunq may suit readers whose stated foreign exchange fee range is 0.5% to 3%.
- Varo Believe Secured Credit Card may suit readers focused on a card with a stated monthly fee of $0.
- Wise may suit readers looking for a different everyday money platform, with a stated monthly fee of £0.
Current offers
ICICI Bank
Current offer
Bonus
Sapphiro Credit Card welcome vouchers: Vouchers worth over INR 13,000
Upon payment of the joining fee of INR 6,500 + GST; vouchers worth INR 3,000 from Tata CLiQ, INR 4,000 from EaseMyTrip, INR 5,000 from Da Milano, INR 1,500 from Croma and an EazyDiner Prime Membership worth INR 1,095; issued within 45 business days
Source, checked September 26, 2026
Discount code
BookMyShow buy one get one movie offer on Sapphiro Credit Card: Up to INR 500 off the second ticket
From Apr 1, 2026 requires spending INR 25,000 or more on the Sapphiro Credit Card in the preceding spends quarter; one movie offer per month per card variant for dual-network cards
Source, checked September 26, 2026
Bonus
Sapphiro Credit Card milestone reward points: 4,000 reward points on INR 4 lakh annual spend, plus 2,000 points per additional INR 1 lakh, up to 20,000 points
Awarded in an anniversary year on qualifying annual spend
Source, checked September 26, 2026
Country by country
| Country | ICICI Bank | Nexo |
|---|---|---|
| Argentina | No | Yes |
| Australia | No | Yes |
| Austria | No | Yes |
| Belgium | No | Yes |
| Bulgaria | No | Yes |
| Croatia | No | Yes |
| Cyprus | No | Yes |
| Czechia | No | Yes |
8 of 37 countries where either is available.
Questions about each
ICICI Bank
What does the card cost to hold each year?+
The annual fee on the card is INR 3,500, which sits above cards that charge nothing. Foreign currency transactions add a conversion fee of 3.5% on top. It is a credit card, so balances are meant to be cleared in full rather than carried.
What rewards does the card pay?+
Rewards come as points, earning more on international spend than on domestic, utility and insurance purchases. The credit card also carries welcome vouchers with travel, dining and retail partners, lounge visits, golf rounds, a round the clock concierge service, air accident cover and a fuel surcharge waiver.
Nexo
What are the Nexo card fees?+
Nexo lists a monthly card fee of €0 and an annual card fee of €0. Its published perks also state that there are no monthly, annual or inactivity card fees.
What is the currency conversion fee?+
Foreign exchange fees are 0.2% to 2.5%. The exact amount can therefore vary, so overseas purchases and ATM withdrawals may cost more than transactions made in the card's base currency.
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