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How to Apply For A Secured (FD-backed) Credit Card?

There are only two steps to getting a credit card against Fixed Deposit (FD). First is having a FD account or opening one if you don’t have it already, and the second is requesting the Bank to issue you a secured credit card against that FD. Both of these things- opening a FD account and applying for the credit card can be done online as well as by visiting the branch. Detailed process is explained below.

What is FD Backed Credit Card?

A secured credit card, also known as FD credit card is issued against an Fixed Deposit (FD) account. The FD you have with the Bank serves as a security deposit which the Bank reserves the right to break in case of a default.

The FD amount determines the credit limit you’ll get on your credit card. Most Banks and Card companies normally offer 70-90% of the FD amount as a credit limit on the credit card but few also offer a full 100% such as IDFC First Bank.

Benefits of Secured/FD Credit Cards?

The secured (FD-backed) credit cards are a great way to improve your credit score all the while enjoying the perks and benefits a credit card comes with, and continue earning interest on the FD.

Some of the benefits are:

  • No credit history required.
  • No income proof required.
  • Helps improve credit score
  • helps built credit history from scratch
  • Comparatively lower interest rates
  • Instant approval and limited documentation
  • Keep earning interest on FD even as you use the credit card
  • Take advantage of benefits, perks and privileges offered on credit card spending.

Who should get FD based credit card?

Although anyone can have a FD credit card; it’s best for people who don’t have a formal credit history. Students, homemakers, retired individuals and people with bad credit score and low/no income can easily get the secured credit card against their FD with desired credit limit.

How to Get A FD Backed (Secured) Credit Card?

If You already have a FD account with any Bank, you can simply request the Bank to issue you a credit card against it. You can do this by visiting the branch and completing the documentation formalities or you can apply online. Most of the Banks nowadays allow online application for the FD based credit cards.

You will be required to enter your FD account number and other details and raise the request through the Bank’s website or mobile application.

If You don’t have a FD account, then you need to open a new one with any Bank of your choice. You can open an FD account online as well as by visiting the Bank.

Once your FD account is open, you can raise the request for a credit card against the same. Again, you can do so online or offline.

Documents required to open a New FD Account:

  • One recent photograph
  • PAN or Form 60
  • A valid identity proof such as Passport, Driver’s License, Voter’s ID, Aadhaar Card

But if you are an existing customer of a Bank, then you don’t need to do any additional documentation. Simply open a FD online through your Net banking or Mobile app or visit the branch. Then request for the credit card.


  • You can not withdraw the FD if you want without closing the credit card first.
  • In case you are unable to pay the credit card due amount after a certain time duration as specified by the Bank, the Bank will deduct the amount from your FD.
  • Irresponsible payment behaviour etc. factors might influence your credit score.

Best FD Credit Cards Right Now

The best FD based secured credit cards are those that earn you a good interest rate on your FD and also give you plenty of benefits a credit card can offer. Here are some of the best secured credit cards in India right now.

Credit Card NameMinimum FD amount Credit LimitCard Features
IDFC First WOWRs 5,000/-100% and above– Lifetime free with zero forex mark-up fee and 1% fuel surcharge waiver
– 100% credit limit of the FD amount value
– Lost card liability of cover up to Rs 25,000 and personal accident cover of up to Rs 2 lakh
– 9% – 42% p.a finance charges
– 100% cash withdrawal
– 7.5% interest rate in FD
Kotak 811 #DreamDifferentRs 5,55590%– 1% fuel surcharge waiver and 1.8%-2.5% for Railway ticket booking transactions
– Earn 2 reward points per Rs 100 spent online and 1 reward points on every Rs 100 spent on other purchase
– 3.50% p.m. (42% p.a.) finance charges,
– Interest free cash withdrawals
Axis Bank Insta EasyRs 20,00080%1% fuel surcharge waiver on all fuel transactions
– 100% cash withdrawal limit and no extra charges on purchases for 50 days
– Earn EDGE reward points on purchase transactions
– 2.50% p.m. (34.49% p.a.) finance charges
SBI Unnati Rs 25,00085%– 1 reward point on every Rs. 100 spent
– Rs. 500 cashback on spend of Rs. 50,000 or more in a year
– 1% fuel surcharge waiver up
– finance charges of 2.75% per month (33% p.a.)
ICICI Instant PlatinumRs 20,00090%– 2X rewards
– 2.5% fuel surcharge waiver on HPCL fuel pumps
– Finance charges of 2.49% per month (29.88 annually)
– Movie and Dining Discounts
Bank of Baroda PrimeRs 15,00080%– Up to 2X rewards
– 1% fuel surcharge waiver
– 3.25% per month (39% annually)
– Insurance and lost card liability cover

FD Credit card FAQs

Explore the frequently asked questions about FD credit cards below.

What is the minimum amount for FD credit card?

The minimum FD amount required is Rs 5,000 with IDFC First Bank. You have multiple options starting from a FD of Rs 5,000 and above.

How much FD is required for credit card?

You can get a credit card against FD amount of as low as Rs 5,000. Some Banks such as IDFC First and Kotak 811 offer a credit card against a FD starting at Rs 5,000 only.

Can I increase my FD credit card limit?

It depends. If you have a good credit score, then you can ask the Bank to increase your credit limit. However, most banks only allow you to get a certain percentage of the FD principal amount as credit limit and the only way to increase the credit limit is increase the FD principal amount. As of now, only IDFC First Bank offers credit limit above FD amount in few cases.

How long does it take to get a credit card against FD?

You can visit any Bank’s branch, open a FD account and apply for a credit card against the same within hours. Few Banks even allow you to open FD account online and apply for the card online. So, it will take you 1-2 hours to apply for the FD account and card, and few days to receive the card at your address. Some Banks like ICICI offer instant over-the-counter pickup for its Instant Platinum credit card.

How do I close my FD based credit card?

To close your FD based credit card, you have to fill a closure form as prescribed with your Bank.

Does FD affect CIBIL/Credit Score?

No. Fixed Deposit account has no impact on the credit score. However, a credit card taken against your FD has a direct impact on your credit score.

What is the FD interest rate in India?

For regular consumers, the Banks offer FD interest rates between 4.5% to 9%.

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