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INFO : Credit Cards against Fixed Deposits

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Hunk
sherlock

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!

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Hunk Hunk
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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 !

Deal Captain Deal Captain
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Does HDFC gives CC against FD???

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Deal Lieutenant 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

Deal Newbie Deal Newbie
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What is fd amount

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Deal Lieutenant 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.

Hunk Hunk
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Yes, But it varies from Bank to bank

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

Hunk Hunk
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Read my post again.

Thanks !

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

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

Deal Captain Deal Captain
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any annual charges there after?

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

Deal Newbie Deal Newbie
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Any information on HDFC cards against FD?

Deal Cadet Deal Cadet
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@akhilsharma1664795 is aqua gold cc against fd is available for kotak 811 zero balance account ?

Community Angel Community Angel
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Yes.

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