Hotness INFO : Credit Cards against Fixed Deposits

Hot Deal INFO : Credit Cards against Fixed Deposits

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Deal Subedar
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INFO : Credit Cards against Fixed Deposits

For : Any Individual with low/no credit score and low salary.

The credit limit of the customers in this case is decided based on the amount of fixed deposit they have

Features :

Minimum Amount : You should have minimum of 20,000 in your Fixed Deposit Account.
Credit Limit : Based on the amount of money in your FD, Generally Bank offers 70-85%
Minimum Documentation
Minimum Tenure : Minimum Tenure of the FD must be 6 Months.
Interest Free Period : 48-55 Days
Rewards : Reward Points, Cashbacks
Interest on Fixed Deposit : Yes, You will be getting interest on FD, no issues.

How to Avail :

Very Simple, You must have a FD in that bank where u are applying with minimum amount required, otherwise open an FD Account in the bank from where u need the Credit Card.
Once its opened, simple apply for the Credit Card and get it approved from Bank.

Impact :

it won’t affect your FD and you will keep earning interest on it.

In case of you default on your card payment, then the bank will adjust the outstanding amount against your FD account

in case of financial emergencies, you do not have to pre-close your FD account immediately, instead you can use your secured credit card to make the payment

Banks Offering Credit Card against Fixed Deposit:
Some of the banks that offer credit card against fixed deposits in India are:

  1. ICICI Bank.
  2. State Bank of India.
  3. Axis Bank.
  4. Kotak Mahindra Bank.
  5. Central Bank of India.
  6. Bank of Baroda.

Source : https://www.bankbazaar.com/credit-card/credit-c...

P.S. Just tried to make the whole article simpler to give an idea. Thank You!

27 Comments  |  
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Deal Subedar
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A List of Credit Cards which You can get against FD

  1. ICICI Bank Coral Credit Card Against Fixed Deposit
  2. SBI Advantage Plus Card
  3. Axis Bank Insta Easy Credit Card
  4. Central Bank of India Aspire Credit Card
  5. Kotak Mahindra Bank Aqua Gold Card
  6. Bank of Baroda Assure Credit Card

Hope This Helps !

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Deal Captain
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sherlock wrote:

A List of Credit Cards which You can get against FD

  1. ICICI Bank Coral Credit Card Against Fixed Deposit
  2. SBI Advantage Plus Card
  3. Axis Bank Insta Easy Credit Card
  4. Central Bank of India Aspire Credit Card
  5. Kotak Mahindra Bank Aqua Gold Card
  6. Bank of Baroda Assure Credit Card

Hope This Helps !

Does HDFC gives CC against FD???

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Deal Lieutenant
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@sherlock bro, there is one bank which will give you all credit card on FD & that bank is INDUSIND BANK. Just do FD and get any of the card.
But FD is 50k eek

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Deal Lieutenant
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@sherlock I also heard that FD credit card are having low interest than other those who have CC on basis of their employment.

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Deal Cadet
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Ok good but credit card fees if I don’t pay in some days then ?

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Deal Cadet
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I don’t have fds with any state or pvt banks

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typhoon wrote:

@sherlock I also heard that FD credit card are having low interest than other those who have CC on basis of their employment.

Yes, But it varies from Bank to bank

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iamshashikant wrote:

Ok good but credit card fees if I don’t pay in some days then ?

Read my post again.

Thanks !

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sherlock wrote:

Read my post again.

Thanks !

Out of all those cc, which do you think offers decent reward points? Right now i have axis and indusind. Indusind offers 2 rp for eaach 100 spent and the rp system keeps on changing upto 40k. If you spend more that 40k+ in a month, you get 6 rp for each 100 spent
Each rp coresspond to 0.5 rupee
Which means u can get 3% cb.

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Deal Cadet
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jimmymanda266 wrote:

Out of all those cc, which do you think offers decent reward points? Right now i have axis and indusind. Indusind offers 2 rp for eaach 100 spent and the rp system keeps on changing upto 40k. If you spend more that 40k+ in a month, you get 6 rp for each 100 spent
Each rp coresspond to 0.5 rupee
Which means u can get 3% cb.

Sorry forgot to mention, i have dc, not cc. Im a student

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Deal Cadet
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Do mention that kotak charges one time fees of almost 1000rs for credit card (Aqua ).

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jimmymanda266 wrote:

Out of all those cc, which do you think offers decent reward points? Right now i have axis and indusind. Indusind offers 2 rp for eaach 100 spent and the rp system keeps on changing upto 40k. If you spend more that 40k+ in a month, you get 6 rp for each 100 spent
Each rp coresspond to 0.5 rupee
Which means u can get 3% cb.

3% cashback is on the higher side, may I know your debit card details? Do they offer cashback on all transactions?

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Deal Captain
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akhilsharma1664795 wrote:

Do mention that kotak charges one time fees of almost 1000rs for credit card (Aqua ).

any annual charges there after?

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Community Angel
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jimmymanda266 wrote:

Sorry forgot to mention, i have dc, not cc. Im a student

You are student dimer of the year biggrin

Jab tak suraj chaand rahega
@BB8DealWars ke baad Jimmy Tera naam rahega
#Tricks-Tricks
#PM-PM
toungueout

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jimmymanda266 wrote:

Out of all those cc, which do you think offers decent reward points? Right now i have axis and indusind. Indusind offers 2 rp for eaach 100 spent and the rp system keeps on changing upto 40k. If you spend more that 40k+ in a month, you get 6 rp for each 100 spent
Each rp coresspond to 0.5 rupee
Which means u can get 3% cb.

They have a limitation on spent, like 3000 points per month. Still, if we can spend a 50K per month, that will get 3000 points/ 1500 bucks. Seems like a good deal. But the cards come with joining fee and annual fee, not sure if they can waive it based on annual spend.

http://www.indusind.com/tnc-debit-card-offers/t...

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Cody wrote:

any annual charges there after?

According to them,there would not be any charges.

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cyberboy wrote:

3% cashback is on the higher side, may I know your debit card details? Do they offer cashback on all transactions?

Yes it does come with a joining fee of 1k out of which you get 500rs back as reward points for activating the card don’t first pos txn and blah blah.

My card is platinum plus debit card. Cb is applicable on all online txn apart from which comes under investment and something else. Btw i didnt try everything. Just paytm karo https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif
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Deal Captain
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akhilsharma1664795 wrote:

And also you have to do minimum 25k fd.

does that joining fee gets waived off if do specific transaction within 3 months like others.

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Deal Cadet
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Cody wrote:

does that joining fee gets waived off if do specific transaction within 3 months like others.

No,that fees needs to be paid in starting and its only one time.

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Anyone here took a card based on FD? Which bank activates the card very quickly?

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typhoon wrote:

@sherlock bro, there is one bank which will give you all credit card on FD & that bank is INDUSIND BANK. Just do FD and get any of the card.
But FD is 50k eek

What is fd amount

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Deal Newbie
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Any information on HDFC cards against FD?

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