Best Credit Cards Against Fixed Deposit 2023

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 A credit card is generally an unsecured debt that gives users an option to buy their favourite stuff online or offline on credit. Apart from that, a credit cardholder gets about 20-50 days of the interest-free credit period. However, due to the lack of a good credit score, an unsecured credit card can be denied to you. And so, you need to submit collateral such as a fixed deposit to get a credit card. These cards are known as credit cards against fixed deposit and it comes with a lower interest rate compared to unsecured cards. You can easily apply for a fixed deposit-backed credit card either online or at the bank branch. And, if you are seeking a list of the best credit cards against FD to choose from, you can check all that in this article.

List of 7 Best Credit Cards Against FD April 2023

Here’s a list of credit cards that come with a lien of fixed deposit and you can explore them in the table below. You can also see the credit limit of these cards that are given against the fixed deposit.

Features and Benefits of Credit Cards Against Fixed Deposit

Now here you can explore the features and benefits of these credit cards and make a choice among them to get the best deals and offers.

SBI Advantage Plus Card

This credit card is offered against the fixed deposit at the State Bank of India (SBI).

Benefits

• Flexipay facility helps convert transactions worth ₹2,500 and more into EMI, an abbreviated form of Equated Monthly Installment.
• It is one of the best credit cards against FD because you will get up to the 100% cash withdrawal limit.
• Credit card is accepted at more than 1 million MasterCard or VISA ATMs globally.
• Facility to pay electricity bills, telephone, insurance, and other utility bills.
• Get the outstanding dues of other banks’ credit cards transferred to SBI Advantage Plus Card and pay them at a lower rate of interest via EMIs.
• Cash advance limit – up to 80% of the credit limit, subject to a maximum of ₹15,000 per day.

Fees & Charges

• Interest-free Credit Period – 20-50 days, applicable for retail purchases, if the outstanding balance of the previous month is paid in full.
• Finance Charges – Up to 2.25% per month from the date of the transaction.
• Late Payment Fee – ₹200-750
• Cash Advance Fee – 2.5%-3% of the transaction amount, with a minimum of ₹300

SBI Card Unnati

Offered against a fixed deposit of ₹25,000 or more with SBI.

Benefits

• Annual fee waived for the first four years.
• Interest-free credit period of 20-50 days.
• Earn 1 reward point per every ₹100 spent.
• Earn a cashback of ₹500 on spending ₹50,000 or more in a year.
• Reward points are redeemable against a wide range of gifts from the rewards catalogue.
• Get a fuel surcharge waiver for each transaction between ₹500 and ₹3,000. (exclusive of GST. wherever applicable, and all other charges)
• Withdraw cash from more than 1 million VISA or MasterCard ATMs worldwide.
• Convert any transaction worth ₹2,500 or more in EMIs.
• Transfer the outstanding balance of other bank credit cards and pay the dues at a lower rate of interest via EMIs.
• Cash advance limit – up to 80% of the credit limit, subject to a maximum of ₹15,000 per day.

Fees & Charges

• Finance charges on revolving credit – 2.50% per month.
• Finance charges on cash advance – 2.50% per month from the date of withdrawal.
• Cash advance fee – 2.5%-3% of the transaction amount, subject to a minimum of ₹300.
• Late payment fee – ₹100-750
• Over limit charges – 2.5% of the over-limit amount, subject to a minimum of ₹500

ICICI Bank Coral Credit Card

Offered against an ICICI Bank Fixed Deposit account.

Benefits

• 2X rewards on grocery, dining, and supermarket spends.
• Earn 1 PAYBACK point for spending every ₹100 on insurance and utilities.
• Buy one and get one movie ticket free by booking it at BookMyShow.
• Enjoy a minimum 15% savings at more than 800 restaurants via Culinary Treats Program.
• Get complimentary lounge access at airports on one of the best credit cards against a fixed deposit.

Fees & Charges

• Waive the fee by spending more than ₹1.50 lakh in a year.
• Finance charges on revolving credit – 3.40% per month.
• Finance charges on cash advance – 3.40% per month from the point of instance.

ICICI Bank Instant Platinum Credit Card

Offered against a FD with ICICI Bank.

Benefits

• Reward points earned can be redeemed for cash.
• Every retail spend, except fuel, is worth ₹100 to give you 2 PAYBACK points.
• Enjoy a discount of ₹100 on up to 2 movie tickets per month at BookMyShow.
• Get a minimum 15% discount on dining at over 800 restaurants via Culinary Treats Program

Fees & Charges

• Finance charges on retail purchases – 2.49% per month if the outstanding balance is not fully paid. No interest will be charged on making full payment on or before the due date.
• Finance charges on cash advance – 2.49% per month. Charges will be levied from the time of cash withdrawal from an ATM.

Axis Bank Insta Easy Credit Card

Offered against a FD with Axis Bank for a minimum value of ₹20,000

Benefits

• Up to 100% cash withdrawals against the credit limit.
• Interest-free credit period of 50 days.
• Enjoy a credit limit of up to 80% of the fixed deposit value.
• Minimum 15% off on dining at partner restaurants in India via Dining Delights Program.
• Enjoy global emergency assistance services.
• Get a 1% fuel surcharge waiver on refilling vehicles at petrol pumps for transactions worth ₹400-4,000.

Fees & Charges

• Finance charges on retail purchases – 2.50% per month on the unpaid balance.
• Finance charges on cash withdrawal – 2.50% per month from the time of withdrawal.
• Cash advance fee – 2.5% of the withdrawal amount, subject to a minimum of ₹250.
• Late payment fee – ₹100-700

YES Prosperity Reward Plus Credit Card

Offered against a fixed deposit with YES Bank

Benefits

• Earn 1250 reward points on spending a total of ₹5,000 within 30 days of the setup date.
• 100 reward points on making 4 transactions worth ₹500 or more within the statement cycle The offer is valid for 6 statement cycles only.
• 500 reward points for each YES PayNow registration.
• Get 5 reward points per ₹100 spent on your birthday.
• Earn 3 reward points on every ₹100 spent online and on dining.
• 4 reward points to be credited on spending every 100 on international transactions.
• Earn 2 reward points on every ₹100 spent on all other spendings.
• Reward points redeemable against an exclusive catalogue of products and air miles. 4 reward points equal to 1 JPMile.
• Get a fuel surcharge waiver on vehicle refill at all fuel stations in India for transactions worth between ₹400 and ₹5,000.

Fees & Charges

• Reverse Membership Fee by spending ₹7,500 within 90 days from the card setup.
• Reverse Renewal Fee by spending ₹25,000 within 12 months before renewal.
• The interest rate on revolving credit, cash advance and balance overdue is 2.40% per month for those having a salary or normal savings account with YES Bank.
• Interest rate on revolving credit, cash advance, and balance overdue is 3.22% per month for those not having a salary or normal savings account with YES Bank.
• Other charges as applicable.

Kotak Mahindra Bank Aqua Gold Credit Card

Offered against a fixed deposit with Kotak Mahindra Bank

Benefits

• Credit limit – Up to 80%-90% of the fixed deposit, subject to a maximum of ₹12 lakhs.
• It is also one of the best credit cards against fixed deposits because you will get an interest-free cash advance for up to 48 days in a year.
• Get 4 free PVR tickets or a cashback of ₹750 on spending ₹1,50,000 in a year.
• Get a cover worth 50,000 against fraudulent usage of the stolen card up to 7 days pre-reporting.

Fees & Charges

• Interest on revolving credit – 2.99% per month.
• Cash advance fee – ₹300.
• Late payment fee – ₹100-700.
• Over limit charge – ₹500.

Note – Fees and charges mentioned across each credit card would also bear 18% Goods and Services Tax (GST)

What is the Credit Limit Offered on FD backed Credit Cards?

These credit cards come with a credit limit of about 80%-90% of the fixed deposit. If you are a frequent shopper, you better have a greater fixed deposit surplus to enjoy the benefits of these cards at large.

How Credit Cards Against FD Build or Repair Your Credit History?

These cards are an effective tool to build a credit history if someone does not have a repayment track. Also, those wanting to improve their credit score can rely on these cards to do the job. However, they must pay the card dues on time to improve their score.

BONOU-

ONE CREDIT CARD

You have always been hearing that credit cards are in the form of plastic. They are made up of plastic with a chip. But now a new credit card has been launched that is a metallic credit card and it is known as OneCard Credit Card. This card has a lot of features similar to other cards but the feature that makes this card unique is the material from which it is made. It is a metal credit card with a lot of reward point benefits and other offers. This card is issued only by the collaborating banks like Bank of Baroda Financial, IDFC First Bank, South Indian Bank, SBM Bank, and Federal Bank. The best thing about this card is it doesn’t have any joining and renewal fees. Therefore, you can enjoy a lot of benefits on this card without paying any charges.

Features and Benefits of One Card

You must be eager to know the benefits of this free credit card. Here are some exclusive benefits that might surprise you.

No Hidden Charges

• This credit card is absolutely free and you will not have to pay any joining fee.
• There is no need to pay a renewal fee to continue using this credit card.
• No reward points redemption fee will be charged while redeeming the points against various brands.

Manage Card through Mobile App

• Download the OneCard mobile application from App Store or Play Store to manage the card.
• Set the transaction limit from the OneCard App.
• Manage various activities like international transactions, domestic transactions, online transactions, contactless payments, and other activities from the app.

Metal Card

• The OneCard Credit Card is crafted with metal.
• Use a unique metal credit card instead of plastic cards.
• Have a luxurious experience with this credit card.

Hassle-Free Activation

• Activate the card digitally without any physical presence in the bank.
• This credit card gets activated within 5 minutes.

Reward Point Benefits

• Earn 5X Reward Points on the top two spending categories.
• The reward points will be credited to your account immediately.
• There is no expiry date for the reward points.
• Just swipe the One Card Credit Card to redeem the reward points.
• Even fraction reward points will be credited to your account and there will be no roundoff.

EMI Transactions

• Make part payments of your transactions into EMIs.
• There is no need for any documents to enjoy the EMI transactions.
• Earn Reward Points on the EMI Transactions.
• Manage your EMIs from the EMI dashboard.

OneCard Credit Card Fees and Charges

You know that this credit card is absolutely free but there are some other charges that you should know before you apply for this card.

Particulars	Charges
Joining Fee	NIL
Renewal Fee	NIL
Reward Points Redemption Fee	NIL
Finance Charges	2.5% to 3.5% per month or 30% to 42% per annum
Late Payment Fee	2.5% of the Amount Due with a Maximum of INR 1000
Foreign Markup Fee	1%
ATM Withdrawal Charges	2.5% of the Withdrawn Amount with a minimum of INR 300

Eligibility and Documentations

• The minimum age of the applicant must be 18 years to apply for the One Card Credit Card.
• Salaried and Self-Employed Individuals can apply for this credit card.
• You must have a stable income.
• Your CIBIL Score must be 750 or above.
• You will need valid Identity Proof.
• You will also need valid Address Proof and Income Proof.

CLICK HERE TO APPLY

Collaborated Banks

There are five collaborating banks that issued OneCard Credit Card and you can visit any bank to apply for this credit card. The collaborated banks are:-

• Bank of Baroda Financial
• Federal Bank
• South Indian Bank
• SBM Bank
• IDFC First Bank

How to Apply for OneCard Credit Card

You can visit the official website of OneCard to apply online for this credit card. On the other hand, you can visit the nearest branch of the collaborated bank and fill out the application form offline to apply for the same card. The third option to get OneCard is to provide the basic details in the application form given above.

Credit Limit of OneCard

The credit limit of One Card is not fixed and it depends on your Cibil Score and income. If you have a Cibil Score of 750 and above and a high income then you will get a high credit limit on OneCard. A high Cibil Score also gets a quick approval for the credit card.

One Card Customer Care Number

The OneCard Credit Card customer care number is 1860-266-1111 and you can call on this number anytime. This is a toll-free number and you can raise any type of query you are having on this credit card.

IDFC First WOW Credit Card

The IDFC First WOW Credit Card is issued by IDFC Bank and has lots of features and benefits. It is a secured card and does not charge any joining fees and renewal fees from the cardholders. Thus, IDFC First Credit Card is a lifetime-free credit card. Apart from this, the credit card comes up with ZERO foreign markup fee. So, you do not have to pay additional fees or charges for doing international transactions.

WOW Rewards

Given below are rewards offered by IDFC First WOW Credit Card:

• The applicants can apply for the IDFC First WOW Credit Card with zero documentation.
• It is a lifetime free credit card as there is no more annual fee or joining fee involved.
• Get 4x reward points on every spends.
• It offers interest rate of 6.25% p.a. on Fixed Deposit (FD).
• It comes with zero forex markup fee.
• It provides exciting offers in 300+ retail stores and 20% off across more than 1,500+ restaurants.
• The cardholders can withdraw of their FD amount while getting interest on the same.
• Get up to 9% p.a. on carry over balances.

WOW Privileges

IDFC First WOW Credit Card offers following privileges:

• Get additional roadside assistance worth Rs.1,399 up to four times per year.
• It provides Personal Accident Cover of Rs.2 lakhs and Lost Card Liability Cover worth Rs.25,000.
• Get up to 20% off at dining at more than 1,500+ restaurants across India.
• It offers maximum of 15% discount on purchases done at more than 3,000 Health & Wellness outlets across the country.

WOW Convenience

The following are conveniences offered by IDFC First WOW Credit Card:

• The cardholders can convert their transactions that are more than Rs.2,500 into easy Equated Monthly Instalments (EMIs).
• Its balance transfer privileges allow the cardholders to pay their other bank credit card balances.
• Cardholders can also make the purchases at online stores and partner retail stores using reward points.
• The card charges the lowest interest rates as compared to the other credit cards.
• The mobile application of IDFC First Bank comes with simple and smooth user interface.
• Get 5% cashback on purchases up to Rs.1,000 on first EMI transaction.

 

Credit Cards Against Fixed Deposit	Credit Limit/Minimum FD Needed	Fees
SBI Advantage Plus Card	Enjoy a Credit Limit of up to 100% of the Fixed Deposit on this credit card.	- Annual Fee – ₹500 - Renewal Fee – ₹500
SBI Card Unnati	Make a hassle-free withdrawal from the credit card of up to 80% of the credit limit.	Annual Fee – ₹499 (from 5th Year)
ICICI Bank Coral Credit Card	You will need a minimum FD of INR 30000 or more with a minimum tenure of 180 days to apply for this credit card.	- Annual Fee – ₹1000 - Renewal Fee – ₹500
ICICI Bank Instant Platinum Credit Card	A minimum FD of ₹20000 or more is needed with a minimum tenure of 180 days to apply for this credit card.	NIL
Axis Bank Insta Easy Credit Card	Get a credit limit of 80% of the value of the fixed deposit.	NIL
YES Prosperity Reward Plus Credit Card	A minimum Fixed Deposit of ₹30000 or more is needed to apply for this credit card.	- Annual Fee – ₹350 - Renewal Fee – ₹350
Kotak Mahindra Bank Aqua Gold Credit Card	Enjoy a credit limit of up to 80% to 90% of the Fixed Deposit on this credit card	- Annual Fee – As per Bank’s Norms - Renewal Fee – NIL