Yes, you can get credit card against fixed deposit (FD). An FD is one of the most preferred modes of investment in our country and an FD that also offers you a credit card is a win-win situation for those who want to improve/build their credit score.
NoBroker InstaCash Loan
Get upto Rs. 10 Lakhs Instantly in your Bank Account with hassle free auto repayment.
Instant approval and disbursement
Interest rate starting 12.99%
Pay Rent with Credit Card through NoBroker and Earn Amazing Rewards!
Avail NoBroker’s Utility Payment Services to Get Assured Rewards on Paying Your Bills!
What is a Credit Card against Fixed Deposit?
A credit card against FD is a secured credit card. Having an FD account is the prerequisite for getting a credit card against a fixed deposit. Several banks, such as SBI and SBM Bank (India) offer this facility with their fixed deposits.
One of the main features of this credit card is that the linked fixed deposit is lien marked, i.e. acts as collateral. The credit limit is usually 80% to 90% of the fixed deposit amount. I want you to know that the lien-marked fixed deposit keeps on earning interest.
If you miss the monthly credit bill payment, the bank can redeem the linked fixed deposit for recovering the outstanding amount. Fees charges on a credit card against fixed deposit are generally lower than on an unsecured card and these cards get approved easily.
Can I Get SBI Credit Card Against Fixed DepositThe State Bank of India offers SBI Unnati Credit Card on a minimum FD amount of Rs. 25000. Its features include:
No fee for the first four years
Rs. 499 annually charged from fifth year
One reward point per Rs.100 spent
1 percent fuel surcharge waiver (on purchases between Rs. 500-3000)
Accessible around the globe
Should You Apply for Credit Card against FD
A secured credit card against fixed deposit is a perfect choice for those who:
Need a credit card but are not able to get one
Does not have a regular income
Have a poor credit history/no credit history
Don’t have an income proof
Housemakers, freelancers, etc.
Have an entry-level job (with low income)
bureau meter
A good credit score will open several credit card options for you.
Related Answers:
How to pay credit card bill through credit card?
How to pay electricity bill through credit card?
Can We Withdraw Money From credit card?
How to convert my SBI credit card payment in EMI?
I hope I cleared all your doubts regarding “can I get credit card against fixed deposit”
Your Feedback Matters! How was this Answer?
NoBroker Cash Loans
✔
Max Funding✔
Lowest Interest Rates✔
Quick Sanction✔
Doorstep Assistance✔
No Hidden Charges
Get Cash Loan
Apply Now
Know your Borrowing Capacity
Check Eligibility
Compare Loans
Calculate Your EMI Now
can I get SBI credit card against fixed deposit?
Suman
425 Views
1
2 Year
2022-08-01T18:25:19+00:00 2022-08-01T19:10:33+00:00Comment
Share