Credit Cards Against a Fixed Deposit (FD)

A credit card backed by a fixed deposit is a secured option where your FD serves as collateral, removing the need for a strong credit score. It’s designed for individuals who are new to credit or have a low credit score, offering a simpler and more accessible way to enjoy credit card benefits. Since your FD acts as security, the approval process is quick and does not require extensive financial checks.

The credit limit on this type of card is usually between 75% and 90% of your FD value, allowing you to spend with flexibility while your deposit continues to earn interest. You can use it just like a regular credit card to make purchases, pay bills, or enjoy cashback and reward offers. However, if you fail to make payments on time, the bank can recover the outstanding amount from your FD balance.

You can easily apply for an FD-backed credit card on Bajaj Markets from reputed issuers, usually without paying any joining fees. This makes it an affordable, low-risk option to start building or improving your credit score while keeping your savings safe and growing in the background.

FD-based credit cards give you easy access to credit while keeping your savings safe and earning interest. Here are the top features and benefits of leading FD-backed credit cards you can apply for:

FIRST WOW! by IDFC FIRST Bank 

Here’s why the FIRST WOW! by IDFC FIRST Bank is an excellent choice for those seeking easy approval, great benefits, and seamless financial convenience:

• The card is lifetime free, with no joining or annual fees, helping you save more in the long run

• Zero forex markup ensures you can shop or travel abroad without paying extra on international transactions

• The FD-backed credit limit equals 75–90% of your fixed deposit amount, making approval simple even for new credit users

• Enjoy up to 45 days of interest-free credit on purchases for smoother expense management

• No prior credit history is required, making it ideal for first-time cardholders

• Approval is possible without income proof since your fixed deposit acts as security

• Get a 100% cash withdrawal limit for easy access to emergency funds anytime

• Complimentary roadside assistance worth ₹1,399 offers peace of mind during unexpected breakdowns

• Exclusive Visa Infinite offers provide premium benefits on travel, dining, and lifestyle experiences

• Personal accident cover of ₹2 Lakhs ensures added financial protection for you and your family

• Lost card liability protection of up to ₹25,000 keeps you safe from unauthorised transactions if your card is misplaced or stolen

Here are the key features that make the FIRST EA₹N Credit Card by IDFC FIRST Bank a rewarding and convenient choice for everyday spending and digital payments:

• The card is virtual-only, offering a fully digital experience without the need for a physical card

• Make UPI payments directly from your credit limit and earn 1% cashback via the IDFC FIRST Bank app or 0.5% on other platforms

• Your credit limit is secured with a fixed deposit of at least ₹5,000, which continues to earn 7.25% interest per annum

• Enjoy a 25% instant discount of up to ₹100 on movie tickets booked via District by Zomato, adding extra value to your entertainment spending

• Enjoy a 100% cashback, up to ₹500, on your first UPI transaction made within 15 days of card activation

• Get 5% cashback of up to ₹1,000 on your first EMI transaction completed within 30 days of your credit card activation

• Complimentary roadside assistance worth ₹1,399 ensures help during travel or vehicle-related emergencies

• Lost card liability protection of up to ₹25,000 safeguards you against unauthorised transactions if your card is lost or stolen

• Personal accident cover of ₹2 Lakhs provides added financial protection for you and your family

To get an FD-backed credit card, you need to meet a few simple eligibility criteria that make the approval process quick and hassle-free:

• You must be at least 18 years old

• You must be an Indian citizen with a valid residential address in India

• You must hold a fixed deposit account with the issuing bank

• Your fixed deposit must be maintained in cumulative, reinvestment, or auto-renewal mode to qualify for the credit card

• A minimum FD amount, typically starting from ₹5,000 to ₹20,000, is required to secure the credit limit

Note: The eligibility criteria listed above may differ across issuers. Always review the specific terms and conditions of your chosen credit card before applying.

Applying for the best credit card against an FD on Bajaj Markets is quick, digital, and hassle-free, allowing you to get instant access to credit with minimal paperwork. Here’s how you can apply smoothly:

1. Click the ‘Check Eligibility’ button on this page

2. Enter your mobile number and occupation details in the form

3. Accept the terms and conditions to proceed further

4. Enter the One-Time Password (OTP) sent to your registered mobile number for verification

5. Review and confirm pre-filled details such as your PAN number, name, date of birth, and email ID

6. Provide your income information and residential PIN code accurately

7. Click on ‘Check Offers’ to view eligible FD-backed credit card options

8. Compare and select the credit card that best suits your needs

9. Click ‘Submit’ to complete your application

After you submit your application, you’ll get a confirmation and a call from Bajaj Markets or the bank to verify your details and finalise approval.

Getting a credit card against a fixed deposit is suitable for different types of users who want to access credit with minimal risk and effort. Here’s who should consider applying:

First-time Credit Users

If you’re new to credit and don’t yet have a credit score, an FD-backed credit card offers an easy way to build your credit history. It ensures smooth approval without complex eligibility checks.

Individuals with a Low Credit Score

If your CIBIL score is low or your repayment history isn’t strong, this card helps you rebuild credibility. Regular, on-time payments can steadily improve your credit profile.

People Seeking Instant Approval

An FD-backed card offers faster approval as your fixed deposit serves as security. You can access credit quickly without heavy documentation or long waiting periods.

Savers Looking for Low-risk Credit Options

If you prefer financial stability, this card gives you the benefits of credit while keeping your savings safe. Your FD continues to earn interest, ensuring steady returns.

Applicants Without Income Proof

If you don’t have salary slips or income statements, this card is a practical solution. The bank relies on your FD instead of income documents for approval.

Students and Homemakers

Students or homemakers who lack a steady income can get easy access to credit with an FD-backed card. It helps them manage expenses responsibly while starting to build a credit record.

Senior Citizens

Senior citizens with fixed deposits can apply for these cards to enjoy easy access to credit. It provides flexibility for emergencies or regular expenses without liquidating savings.

You can apply for the best credit card against an FD in India if you can place a fixed deposit with a bank and meet basic KYC requirements. Since the card remains secured against your deposit, lenders focus more on your FD amount than your credit profile.

The following applicants typically qualify:

• Individuals with low or no credit score: If your credit score is weak, thin, or completely absent, the best credit card on FD offers an accessible entry point because the fixed deposit reduces the lender’s risk exposure

• New-to-credit applicants: If you have never taken a loan or held a card before, this option helps you enter the formal credit system without facing rejection due to a lack of repayment history

• Existing FD holders: If you already maintain a fixed deposit with a bank, you can convert it into an FD-based credit card quickly, as the bank already holds your collateral

• Students and homemakers: Even if you do not earn a regular income, you can still apply, provided you open and maintain the required deposit amount

• Applicants from restricted employment categories or locations: Even if your employer or residential area falls under internal bank restrictions, you may still qualify because the deposit secures the card
   

Therefore, eligibility primarily depends on your ability to open and maintain a fixed deposit rather than your income stability or past borrowing record.

You may choose a fixed deposit credit card not only because of credit challenges but also because it offers practical financial advantages with lower approval barriers. Since the bank secures the card against your deposit, the risk reduces significantly, and this improves your approval probability.

• Easier approval: Because your FD acts as collateral, banks approve applications faster and with fewer income-related conditions. As a result, you can often complete your FD credit card application process with minimal documentation and limited credit scrutiny.

• Credit score building: When you use the card responsibly and repay dues on time, you build a positive repayment record. Over time, this strengthens your credit profile and improves your eligibility for unsecured cards.

• Higher credit limit: Most banks offer a credit limit ranging between 75% and 90% of your deposit value. Consequently, a larger FD can translate into a comparatively higher limit than many entry-level unsecured cards.

• Interest continuity: Importantly, your fixed deposit continues to earn interest throughout the tenure. Therefore, you retain savings growth while enjoying full card features, including digital payments, EMI conversion options, and reward benefits.
   

If you want structured access to credit with controlled risk, a credit card against a fixed deposit offers a balanced and disciplined starting point.