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How to get a Credit Card Against Fixed Deposit ?

You must have seen your friends, colleagues & relatives use Credit Cards. But you are unable to apply for a Credit Card or your application is getting rejected for some reason. You don’t have to worry now as this article will present the easiest and the fastest way to own a credit card.

What are the common causes for Rejection of a Credit Card Application ?

  • Do not have Income Proof
  • Additional Documentation not complete
  • High Loan Balances
  • Income is too low
  • Having a limited Credit History

With the increasing use of plastic money in the form of Credit Cards, Some banks offer a unique credit card which has some extra benefits as well. Now you can have a Credit Card against a Fixed Deposit.

What are benefits and ease of owning a Credit Card Against Fixed Deposit ?

  • No income Proof required
  • No Additional Documents Required
  • With a Fixed Deposit of just Rs.20000, you can own a Credit card

Credit Cards against Fixed Deposit from 4 leading Banks in India 

ICICI Bank Coral Credit Card

credit card against fixed deposit icici coral

For owning a Coral Credit Card from ICICI you must open a New Fixed Deposit or use your existing Fixed deposit. Your Credit Card will be issued against the Fixed Deposit. You can enjoy the interest of the Fixed Deposit as well as the Benefits of Credit Card.

Terms & Conditions :- 

Minimum Tenure of Fixed Deposit : 6 Months

Minimum Fixed Deposit : Rs.20,000

Credit Limit : 85% of Fixed Deposit

Joining Fee : Rs.500

Axis Bank Insta Easy Credit Card

credit card against fixed deposit Axis bank Insta Easy

To get an Insta Easy Credit Card from AXIS Bank, you just need to walk in to any of the AXIS Bank Branch in India. Just Open a Fixed deposit or use your existing FD to get your Insta Easy Credit Card.

Terms & Conditions :-  

Minimum Tenure of Fixed Deposit : 6 Months

Minimum Fixed Deposit : Rs.20,000

Maximum Fixed Deposit : Rs.25,00,000

Credit Limit : Choose any limit upto 80% of your Fixed Deposit

Joining Fee : Rs.500

SBI Advantage Plus Card

credit card against fixed deposit Sbi Advantage Card

Open to any of the SBI Branches across India. Open a new Fixed Deposit or use your existing Fixed Deposit to get  your SBI Advantage Plus Gold & More Credit Card. Check out the below mentioned Terms & Conditions to Get SBI Credit Card against Fixed Deposit.

Terms & Conditions :- 

Minimum Tenure of Term Deposit : 6 Months

Minimum Term Deposit : Rs.20,000

Credit Limit : 70% of Term Deposit

Joining Fee : Rs.500

Annual Fee : Rs.500

ING Vysya Credit Card against Fixed Deposit (Note that ING Vysya is now Kotak Mahindra Bank)

You just need to walk in to a branch of Kotak Mahindra Bank in India. Apply for a Credit Card against a new Fixed Deposit or you can use your exiting Fixed Deposit.

Terms & Conditions :- 

Minimum Tenure of Term Deposit : 1 Year with Auto Renewal

Minimum Term Deposit :

  • Solaris Credit Card : Rs.20,000
  • Galaxia Credit Card : Rs.1,00,000

Maximum Term Deposit : Rs.25,00,000

Credit Limit : Upto 80% of Fixed Deposit

Remember : Your Credit Card will be live only till you operate your Fixed Deposit. If you wish to close or stop using your credit card, do write an application to the branch manager and complete any other formalities. Clear all your dues before closing a Credit Card or else it will badly hit your CIBIL Score.

Hope you like to read about getting a Credit Card Against Fixed Deposit in India. If you have any queries, you can leave your comments below.

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About Anirudh Singh

Anirudh Singh is a passionate blogger and the man behind Amazing India Blog. He has 5 years of experience in the newspaper industry and he founded Amazing India Blog in 2015. Apart from writing and editing articles on Travel, Business and Technology at Amazing India Blog, he also contributes to other well known newspapers and online news blogs.

One comment

  1. These secured cards are very beneficial in terms of increasing your credit score as it helps you to get a credit mix plus while applying these cards it doesn’t even need a credit score. So in case if you have a bad credit score and want to rebuilt your repayment history you can avail these cards and pay all the bills on a timely basis. This will help you to built a good repayment history. To know more on what is secured credit cards you can also visit the below link by clicking on my name

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