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Credit Card against FD

Best Credit Card Against FD

Credit cards give you access to instant credit and help you build your credit score. But how do you get a credit card when you have a bad credit history or a poor credit score?

You can get a credit card against a fixed deposit.

In this article, we look at how to get a credit card against an FD and see which ones are the best.

Can I get a Credit Card against an FD?

A credit card that is issued to you against a fixed deposit is also known as a secured credit card. This is a great option for:

Those who have poor or no credit history
Students
Those who are not eligible for regular credit cards
Those trying to build their credit score.

Secured credit cards are good for building a credit score in such scenarios.

Banks mostly offer credit cards for 75% to 80% of the amount deposited as a fixed deposit. The amount that needs to be deposited and the other criteria vary from bank to bank. If you are searching for a ‘credit card against fixed deposit’, this article will tell you all you need to know.

Which is the Best Credit Card against FD?

The ‘best credit card against fixed deposit’ for you will depend on multiple factors. The bank you already have a relationship with will be the best option for you. However, you can also choose a credit card against FD based on the eligibility criteria, deposit amount, fees, charges, etc.

Let us take a look at the options of best credit card against FD in the following banks -

SBI Credit Card against FD

The SBI Unnati Credit Card is a secured card offered by the State Bank of India. Its top features are -

Deposit Amount	Rs.25,000 and above
Annual Fee	Rs.499 (waived off for the first 4 years)
Application Process	Offline
Prominent Features and Benefits	Reward points on spending, fuel surcharge waivers, and contactless payment

Axis Bank Credit Card against FD

Axis Bank’s credit card against FD is called My Zone Easy Credit Card. Its salient features are mentioned below -

Deposit Amount	Rs.15,000 to Rs.25,000
Annual Fee	Rs.500
Application Process	Online and offline
Prominent Features and Benefits	Movie ticket cashback, assured approval, free credit for 50 days, and high cash withdrawals

IDFC First Bank Credit Card against FD

First WOW is IDFC First Bank’s credit card that you can get against a fixed deposit. Some of its important features are -

Deposit Amount	Minimum Rs.5,000
Annual Fee	Nil
Application Process	Offline
Prominent Features and Benefits	Rewards on spending, free credit for 45 days, fuel charges waivers, roadside assistance, personal accident cover, and discounts at restaurants and health/wellness outlets

Kotak Mahindra Bank Credit Card against FD

Kotak Mahindra’s best credit card against FD is the Dream Different Credit Card. Information related to it is mentioned below -

Deposit Amount	Minimum Rs.5,555
Annual Fee	Nil
Application Process	Online
Prominent Features and Benefits	Cashback on annual spending, free cash withdrawal for 48 days, fuel and railway surcharge waiver

To know more Fixed Deposit articles here:

FD Vs RD	How to Calculate FD Interest
FD Interest: Is it Taxable	FD Interest Rates Increase in India
What is Fixed Deposit	Senior Citizen Fixed Deposit
FD Interest Rates for Senior Citizen	FD: Full Form
Best Bank for Fixed Deposit	FD Rates of Top Small Finance Banks
Best Credit Card against FD	TDS on FD Interest

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SimpliFi Fi Credit Card Against FD

SimpliFi credit card is issued by Federal Bank in partnership with Fi Brand Pvt. Ltd. Information related to it is mentioned below -

SimpliFi Credit Card
Deposit Amount	Minimum ₹15,000
Annual Fee	Nil
Application Process	Online
Prominent Features and Benefits	3x rewards on all weekend spends, discounts on Zomato, District by Zomato & BookMyShow events on weekends, 1 complimentary domestic airport lounge visit per quarter, fuel and railway surcharge waiver

BOBCARD Prime Credit Card Against FD

Bank of Baroda issues BOBCARD Prime credit card against FDs. Information related to it is mentioned below -

BOBCARD Prime Credit Card
Deposit Amount	Minimum ₹30,000
Annual Fee	Nil
Application Process	Online
Prominent Features and Benefits	2 reward points per ₹100 spent, 1% fuel surcharge waiver, free Personal Accidental Death Cover, convert more than ₹2,500 on your card into Smart EMIs

Conclusion

Applying for a credit card against a fixed deposit is a safe and secure way to improve your credit score. They are easy to apply for and come with various benefits and cashback offers.

If you are looking for a credit card against an FD, you can get in touch with the nearest bank with which you already have a relationship. SBI, Axis Bank, IDFC First Bank, and Kotak Mahindra Bank offer credit cards against an FD of ₹10,000 and above.

These cards also allow you to make cash withdrawals for 45 days or more without any interest. Some of them even have no annual maintenance charges and are free to use. You can apply for them either online, through your bank’s app, or by visiting your bank’s nearest branch.

Best Credit Card against FD - Related FAQs

Which is the best FD-based credit card?

Most major banks offer credit cards against fixed deposits. Which is the best for you depends on the application process, the FD amount required, and other eligibility criteria.

What is the maximum FD credit card limit?

For credit cards against fixed deposits, banks set credit limits up to 75% - 80% of the FD amount.

Can I increase my FD credit card limit?

Yes, just like you can increase your regular credit card’s limit, you can also increase your FD-based credit card’s limit. But it will depend on factors like your credit history and income.

Can I close my FD credit card?

Yes, you can. However, you will have to close the card before you close the FD it was taken against.

How much FD is required for a credit card?

For getting a credit card against an FD, the amount you need to invest in an FD varies from bank to bank. It starts from ₹10,000 and can go up to ₹25 Lakh or more.