Do you have a fixed deposit (FD) account? If yes, using the same you can get yourself a credit card. This is the most convenient way to get a card for your daily spending. Here, the bank will provide you with a line of credit against your FD value. It means this serves as collateral for your credit card spending. So if you don’t pay your bills, the bank will compensate it from your FD. To gather more information on the Best Credit Cards Against FD keep reading this page.
What is a Credit Card Against FD?
The banking sector has introduced this product to help customers meet financial needs. As you know when one breaks an FD, it can’t be reversed. So with this facility, you can have a line of credit by which you can meet your needs and the FD will remain safe as long as you keep paying the bills on time. For each late payment, a penalty will be charged. So take care of that while managing your credit card payments.
Which are The Best Credit Cards Against FD?
There are many credit card lenders in the market but shortlisting the best cards is a difficult and time-consuming thing. But lucky for you as we have already done that, so just take a look at these credit cards and their offers. If these cards meet your needs, apply online –
811 #DreamDifferent Credit Card
Kotak Mahindra Bank has designed this credit card term deposit for customers. So if you have an FD account with the bank, you can apply for this card. But there are some conditions that you have to meet in order to get this credit card. You should have a minimum deposit of INR 10,000 in your FD account. Because if it is lower than that, the credit card application would be denied.
Only Indian residents are allowed to get this credit card. And if you are an NRI (Non-Resident Indian), you need to go through the offline process. Now let’s take a look at its offers –
Reward Points On Daily Credit Card Transactions
Using this card for daily spending means –
- 2 points on every INR 100 online transaction
- 1 point on every other spending, subject to a minimum of INR 100
- 500 bonus points when you activate the card and spend INR 5,000 within 45 days
- Withdraw cash up to 90% of your FD value. You should know a processing fee of INR 300 per INR 10,000 withdrawal shall apply
ICICI Bank Instant Platinum Credit Card
You can get this credit card from the ICICI Bank, provided you have an FD of a minimum value of INR 20,000 and a tenure of 180 days. If these criteria are met by the applicant, the card will be approved. If the Fixed Deposit is in the name of a third party, partnership firm, HUF, society, trust, or a company, the card won’t be approved. This is also not available to minors and foreign nationals.
The following are the list of benefits that you will get with this best FD credit card –
- Built-in contactless payment service
- Reward points that can get you cash in return
- 25% discount on two movie tickets twice a month via BookMyShow, subject to a maximum of INR 100.
- Exclusive dining offers as per the ICICI Bank Culinary Treats Programme
- Interest on your Fixed Deposit will continue to accrue
- A low-interest rate of just 2.49% per month on your credit cards bills
So if you think ICICI Bank Instant Platinum Credit Card is the one that helps you meet your financial needs, do apply for the card. For an ICICI Credit Card Apply you need to visit the bank website and fill in an application form.