If you are looking for a credit card against fixed deposit then they are few banks in India which gives you Credit Card Against Fixed Deposit, let’s see below the list of banks which are providing or offering credit cards against bank fixed deposits.
Credit Card Against Fixed Deposit
Why credit card against Fixed/Term deposit?
You know many banks don’t issue credit cards to self employed Individuals, small business owners, persons with poor credit history, low cibil score or low income earners but, you can still get a credit card by using a bank FD fixed deposit.
Anyways let’s see the list below, and however the issuing bank sets a credit limit according to a percentage of the amount of the Fixed deposit FD amount, generally it will be 85% of FD amount.
Banks offering Credit Cards Against Fixed Deposit
Below are the best credit cards offered by banks against your Fixed Deposit or Term Deposit.
1. ICICI Bank FD Credit Card: ICICI Bank provides instant Credit Card with Fixed Deposit without any income documents. All you have to do is visit any nearest ICICI Bank branch or do FD online ICICI offers 3 variants of Credit Cards against Fixed Deposit.
The minimum Fixed Deposit FD amount should be Rs 10,000 and tenure of FD should be at least 180 days and FD Card to be opened in auto renewal mode only.
You can choose any of below credit card type against the FD.
ICICI Bank Instant Platinum Credit Card, ICICI Bank Coral Credit Card, ICICI Bank Rubyx Credit Card.
2. Axis Bank Insta Easy Credit Card: Axis bank issues this Insta Easy Credit Card against your Fixed Deposit with Axis Bank, the credit card limit will be 80% of the FD value. One of the best feature is you can do cash withdrawals of upto 100%
Insta Easy Credit Card minimum FD value should be Rs 20,000 and maximum is Rs 25,00,000 and there is No Joining Fees or Annual Fees. Just visit any Axis branch open FD Get your credit card over-the-counter, with minimal documentation and guaranteed approval.
3. Kotak Mahindra Bank Aqua Gold Credit Card: This Aqua Gold Credit Card is one of the best interest free cash withdrawals, fuel surcharge waiver card.
Minimum Fixed deposit amount to open Aqua Gold Credit Card is Rs 25,000 and you get the credit limit up to 80% of your term deposit amount and this Credit Card has no joining fees and is free for lifetime. Just visit any Kotak mahindra branch and apply for credit card against FD.
4. SBI Advantage Plus Credit Card: You can avail this credit card by opening a Fixed Deposit with SBI just Fill in the SBI Advantage Plus Credit Card application form as well as the SBI Fixed Deposit form and submit in any State bank of India branch.
Minimum FD amount is Rs 25,000 and you get 80% of credit limit on your FD and up to 100% cash withdraw limit with No Joining fees and yearly Rs 500 annual fee.
5. YES Prosperity Rewards Plus Credit Card: This card can be applied either directly or against fixed deposit, just visit nearest YES BANK branch and apply. Minimum amount of Fixed deposit value should be Rs 30,000.
6. Bank of Baroda Assure Credit Card: You can get this credit card without any income proof and against your Fixed Deposit, the best thing about this card is Free 3 Add-on cards, Zero fuel surcharge and Zero annual fees card if you spent Rs 35,000 in a year. Cash withdrawal up to 100% of your Credit Limit in case of emergency
Minimum amount of Fixed deposit value is Rs 25,000 and you get 80% of credit card limit on your FD value. Spend Rs 6,000 within 60 days and Rs 35,000 in a year for reversal/waiver of annual fees
Note: We Will continue to update this article whenever a bank issues a credit card against fixed deposit.