Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
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  • Credit Cards against Fixed Deposits Reviews

    • Bank Bazaar Customer Support
      "Good"
      0.5 3.0/5 "Satisfactory"
      I am very much happy, this is very much useful application this is financially helping application and the response is also good . Fast Service home loan, personal loan, car loan, credit card also available, it is a one platform, I am very much happy with Bankbazaar services.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2017
    • Bank Bazaar Customer Support
      "Credit card application "
      0.5 5.0/5 "Blown Away!"
      The process is simple and user friendly as much as it can be. I am not sure whether the application will be successful or not. Good services - just one thing verification from bank should be done via e mail too in case some one misses the verification call by any means. All in all great services !!
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 26, 2017
    • Bank Bazaar Customer Support
      "Bank bazar is a excellent app"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar customer executive is very good, talking for any bank inquiry so it was an excellent job and for any query solving any problem so good thinking of executive and bank bazar. Com app very excellent and class one application any inquiry and even credit score is available.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 25, 2017
    • Bank Bazaar Customer Support
      "Credit Card"
      0.5 5.0/5 "Blown Away!"
      Have made so easy to get a credit card according to your needs. Just submitted my application in just 5 mins and get approved. Really amazing to see that one day it will be so easy to apply for a credit card.thnx and congratulations to team bank bazar.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jun 25, 2017
    • Bank Bazaar Customer Support
      "Experience ."
      0.5 4.0/5 "Great!"
      Excellent experience with bankbazaar, it provides good service. .fast reply. .I was also with bankbazar , my loan was approved with a lower interest rate through this site. Car loan ..personal loan credit card and other loan fast approval is provided by every bank all india.
      Was this review helpful? 0
      , amritsar
      Reviewed on Jun 25, 2017
    • HDFC Bank Credit Card
      "Superb Customer services, you killed competition."
      0.5 5.0/5 "Blown Away!"
      Dear HDFC Customer care team, you have also been superb at providing resolutions. HDFC bank is my fav bank to use a credit card, I told 6 other banks cards but none of other banks services are even close to HDFC. Keep up the good work team. Cheers
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 24, 2017
    • Axis Bank Credit Card
      "Excellent service"
      0.5 4.0/5 "Great!"
      I am having the credit card with the Axis bank credit card and the service aspects are good one till now. Credit limit value is around 45000 Rupees and also its a kind of offer for me, also they have offered to make it as double. Online banking services are good one with the Axis bank credit card.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 24, 2017
    • American Express Credit Card
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      American express credit card is working in a good way but its not accessible everywhere and that's the major drawback, rest of the things were really good. Customer service is an excellent one for me till now, also I am very much happy with the responsiveness too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 24, 2017
    • SBI Cards Credit Card
      "Very Good"
      0.5 5.0/5 "Blown Away!"
      I would like to say SBI credit card is the best one for me because they have provided me with the lot of option and benefits to the customer. Its an excellent credit card and they have provided the ccredit limit value ,which is also a good one for me.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 24, 2017
    • Axis Bank Credit Card
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Axis bank offered a life time free credit card for me. This is the first time I had received credit card from Axis bank. They are good in process and disbursed the card with good credit limit. I have no issues with the bank for the credit card services.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jun 24, 2017
    • HDFC Bank Credit Card
      "No Response"
      0.5 1.0/5 "Really Bad"
      I did not receive any kind of response from HDFC bank when I approached them for the credit card. Recently I applied for the credit card with HDFC bank. But my card application was not been processed by the bank and they just closed my application as I am a business man.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jun 24, 2017
    • ICICI Bank Credit Card
      "Not customer centric"
      0.5 1.0/5 "Really Bad"
      In order to get credit card I approached ICICI bank and also I had submitted my application. But I had not received the card from the bank. They did not process as I am a business man. It would be good if the bank is customer oriented because I have savings account with same bank for three to four years but then the bank is not ready to provide the credit card.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Great experience... Easy to apply.. "
      0.5 5.0/5 "Blown Away!"
      It's very easy to apply.. Great experience.. Need not to run behind bank.. Time saving.. Really worth.. Automated.. Thanks for giving free registration and not cutting any amount for first year.. Giving more cash back and rewards.. Thanks to bankbazar... Really great
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 24, 2017
    • SBI Cards Credit Card
      "Overall good"
      0.5 5.0/5 "Blown Away!"
      SBI is excellent on the credit card, there are EMI facilities which are very convenient as there are a lot of flexible options. The customer support is good and the credit limit is good on my card. My card is accepted all over online and offline.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Jun 24, 2017
    • HDFC Bank Credit Card
      "Satisfied with the services"
      0.5 5.0/5 "Blown Away!"
      HDFC bank has been good in the credit card services and the offers are satisfactory. They have a lot of options on the card and it is very convenient to use the card as well. The statements are clear and the customer support is good and easy to reach too.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Jun 24, 2017
    • Canara Bank Credit Card
      "Good To Use"
      0.5 5.0/5 "Blown Away!"
      I availed a life time free card from Canara bank. The bank offered good credit limit also there is an option to upgrade the limit in future. Basic documents are required to avail the card. I use this card for one and a half years, I never faced any issues because of my credit card. It is good to use.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 24, 2017
    • HDFC Bank Credit Card
      "Happy to Hold"
      0.5 5.0/5 "Blown Away!"
      HDFC bank has offered me a credit card too. I hold savings account with the same bank. The bank provided a life time free credit card which is very much comfortable to use. The credit limit provided by them is very much satisfactory and I do not have any issues with HDFC bank for the credit card. Customer service is overall good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 24, 2017
    • Citibank Credit Card
      "Very good card to use"
      0.5 5.0/5 "Blown Away!"
      Actually the Citibank reward points card has very good credit limit when compared with other bank card. The benefits with this card can be compared with other banks. I get reward points cash back offers and fuel surcharge waiver. The rate of interest is nominal with this card. I am happy using Citibank rewards card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 24, 2017
    • Bank Bazaar Customer Support
      "Excellent...Staff and user friendly....Way to go bank bazaar"
      0.5 3.5/5 "Pretty good"
      Fast and convenient.... Satisfying.... Customer service is excellent...Follow up done by call centre staff is good... Uploading of documents wasn't difficult...good decision taken on my part...Can recommend to others without any doubt...
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 24, 2017
    • review Credit Card
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      I do use SBI cards. The annual fee for the card is around 500 rupees. SBI is giving more reward points also I could convert all those points into cash. The credit limit is pretty good. Moreover there are no penalty charges or hidden charges with SBI. I never seen a Bank likes this, which is deducting the amount unnecessarily.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jun 24, 2017
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    Credit Cards against Fixed Deposits is Rated as "Excellent!" by 35811 Users

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    Credit Cards against Fixed Deposits

    To get a credit card, customers need to earn a minimum amount of salary annually and also have a decent credit score. This makes it difficult for people with low or no credit score and low salaries to get a credit card. Customers with low/no credit score and salary can now easily get a secured credit card.

    A secured credit card is given by banks against fixed deposit. ICICI, SBI, Axis, etc., are some of the banks that offer credit cards against fixed deposit in India. When customers apply for such cards, all the other factors that lead to the approval of a card becomes insignificant because card providers are given a collateral security. This security ensures them that they will get the money they provide as credit back. The credit limit of the customers in this case is decided based on the amount of fixed deposit they have.

    Some other factors that affect the issuance of such cards are:

    • Debt-to-income ratio.
    • Repayment capacity.
    • Funds in the fixed deposit.

    Credit Cards against Fixed Deposit are best for:

    • People with low credit score or no credit history.
    • People who do not meet the income criteria.
    • People who have just started earning.
    • People who live in an area that the lender has blacklisted.
    • People who are employed by organizations that are blacklisted by the lender or have a bad reputation.

    Features of Credit Cards against Fixed Deposit:

    • Minimum Amount – You should have a minimum of Rs.20,000 in your fixed deposit.
    • Credit Limit – Your credit limit will be decided based on the amount of money you have in your fixed deposit account. Generally banks offer 80% to 85% of the deposit amount as credit limit.
    • Minimum Documentation – To apply for this type of card, you do not need to submit a lot of documents.
    • Minimum Tenure – The minimum tenure of the fixed deposit that you are giving as security to the bank should be 6 months.
    • Interest Free Period – Generally, banks offer an interest free period of 48 days to 55 days on such cards.
    • Rewards – These cards offer multiple rewards such as reward points, cashback, etc., to the customers.
    • Interest on Fixed Deposit – Cardholders will continue earning interest on their fixed deposit.

    How to Avail a Credit Card against Fixed Deposit?

    The process of getting a credit card against fixed deposit is very simple. To avail such card, you have to first open a fixed deposit account with the bank, which offers this type of card. Most banks require you to have at least Rs.20,000 in your fixed deposit account to apply for this card. If you already have a fixed deposit account with the bank with the required funds, you do not have to open another one. The bank in that case will accept the existing FD as security.

    Once the fixed deposit account is opened, you have to simple apply for the card and get your application approved by the bank.

    Impact of Secured Credit Card on Fixed Deposit:

    When you take a secured credit card against fixed deposit (FD), it won’t affect your FD and you will keep earning interest on it. The rate of interest that you earn will be the same that your bank had set when you had opened your FD account.

    The impact of the credit card will be seen at the time of bill payment. In case of you default on your card payment, then the bank will adjust the outstanding amount against your FD account. So, if you want to not hurt your investment, you will have to make sure that you always pay your credit card bills on time.

    People who opt for a credit card against fixed deposit primarily to build their credit score will face a problem if they default on their repayment. In such a case, not only will their FD be affected, but it will also have a negative impact on their credit score.

    Apart from this, in case of financial emergencies, you do not have to pre-close your FD account immediately, instead you can use your secured credit card to make the payment. As banks offer sufficient time in the form of interest free credit period to cardholders, they get time to repay the bills.

    Banks Offering Credit Card against Fixed Deposit:

    Some of the banks that offer credit card against fixed deposits in India are:

    • ICICI Bank.
    • State Bank of India.
    • Axis Bank.
    • Kotak Mahindra Bank.
    • Central Bank of India.
    • Bank of Baroda.

    ICICI Bank Coral Credit Card Against Fixed Deposit:

    ICICI Bank Coral Credit card Against Fixed Deposit is offered to customers without any income related documents.

    Benefits:

    • 2X rewards on groceries, dining and at supermarkets.
    • Buy 1 get 1 free movie ticket during the week.
    • 15% savings on dining at more than 800 restaurants.
    • Free access to airport lounges.
    • 50% special discount on the Joining Fee.

    SBI Advantage Plus Card:

    Advantage Plus Credit Card is issued against fixed deposits by the State Bank of India. The maximum cash withdrawal limit on this card is 100% of the credit limit.

    Benefits:

    • Attractive rate of interest available at 2.25% per month.
    • Avail add-on cards for family members.
    • Convert payments into EMI using Flexipay.
    • Withdraw cash from more than 1 million ATMs around the world.
    • Interest is accrued on the funds available in the fixed deposit account.
    • Easy and convenient loan sanctions are also made available to the borrower by the Bank.

    Axis Bank Insta Easy Credit Card:

    Axis Bank Insta Easy Credit Card is issued by the bank against fixed deposits. The credit limit on this card is up to 80% of the FD amount.

    Benefits:

    • Maximum cash withdrawal limit is 100% of the credit limit available.
    • Maximum interest free credit period available is 50 days.
    • Enjoy fuel surcharge waiver of 2.5% on all fuel transactions.
    • The bank assures approval on the credit card application.
    • Avail 6 eDGE loyalty reward points on every Rs.200 spent locally and 12 eDGE points on every Rs.200 spent abroad. Get 100 points on your first online transaction.

    Central Bank of India Aspire Credit Card:

    Aspire Credit Card is issued against fixed deposits by Central Bank of India. The credit limit available on the card will be 80% of the fixed deposit amount. Interest charged per month on this credit card is 1.20%.

    Benefits:

    • Personal accident coverage of Rs.1 Lakh is offered in the event of death to people who opt for the Group Insurance Scheme.
    • Rewards are offered on using the card for dining, travelling, movies, and so on.
    • This credit card can be used for international and domestic transactions.
    • This card offers interest free credit period of 55 days.

    Kotak Mahindra Bank Aqua Gold Card:

    Aqua Gold Credit Card is issued against fixed deposits by Kotak Mahindra Bank. The minimum deposit that is to be made in the fixed deposit account is Rs.25,000 and cardholders can avail a credit limit of up to 80% of the fixed deposit amount.

    Benefits:

    • Maximum cash withdrawal limit is up to 90% of the credit limit available.
    • Fuel surcharge waiver of maximum Rs.3,500 can be availed in a year.
    • Enjoy Rs.500 worth of railway surcharge waiver.
    • Rs.50,000 worth insurance coverage against fraudulent transactions is provided in case your credit card is stolen.
    • Avail add-on cards for your family members.

    Bank of Baroda Assure Credit Card:

    Bank of Baroda Assure Credit Card is an international Visa card that is offered against fixed deposit. The credit limit on this is card is 80% of the fixed deposit amount.

    Benefits:

    • Avail 3 free add-on cards.
    • Avail free Personal Accident Death Coverage with this card. Get Rs.15,00,000 worth Air Accident Death coverage and Rs.5,00,000 worth coverage in case of death caused due to other kinds of accidents.
    • Earn 1 Loyalty points on every Rs.100.
    • Spend Rs.50,000 or more annually and regularly pay your bills to enjoy annual fee waiver for the year.

    News About Credit Card against Fixed Deposits

    • Get Credit Cards against Fixed Deposits

      The State Bank of India (SBI) is now issuing credit cards to individuals who have Rs.25,000 or more in fixed deposits, regardless of which bank the fixed deposit is held with. The credit card will be provided to individuals free of charge and the applicant will not require to produce a proof of income. The bank has also made a decision to provide these credit cards to students from the top 100 educational institutions in India without the student needing to furnish a proof of income. This move has come in light of the bank installing an additional 5 lakh swipe machines across the country. The bank is also developing an app to facilitate offline payments through the card via a QR code. The credit cards against fixed deposits are set to be issued from the beginning of January, 2017 and the student credit cards were made available at the beginning of December, 2016.

      21st December 2016

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