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Many prominent banks provide credit cards against FDs, and these are known as secured credit cards. Here, the credit card provider has the authority to recover the outstanding credit card dues from the fixed deposit pledged as collateral. 


One of the advantages of these credit cards is that even applicants who don’t meet the credit score or minimum income criteria can apply for a credit card against an FD. Also, the credit card limit is set on the basis of your FD amount that is held as collateral.


Generally, financial institutions offer a credit card limit between the range of 80% to 90% of the fixed deposit’s value. 


Read on for more about some credit card options that you can take against your fixed deposit.

Some of the Best Credit Cards Against Fixed Deposits in India

There are plenty of secured credit card options in India. Here’s an overview of some of the top credit cards against fixed deposits that you can avail in 2023.

1. Bajaj Finserv RBL Bank Freedom SuperCard

The Freedom SuperCard is a co-branded credit card issued by RBL Bank in association with Bajaj Finserv. Available for a low annual fee of just ₹999 plus GST, the card is issued with a credit limit that’s 100% of the FD amount. Here are some of the key features of this secured credit card. 

  • 2,000 bonus reward points on spending at least ₹2,000 within the first 30 days of card ownership 

  • Interest-free cash withdrawal for the first 50 days of card ownership

  • Annual fee waiver on spending at least ₹75,000 during a year 

  • 2 reward points for every ₹100 spent online except on insurance, education, rent payments, utilities and wallet loads

  • 1 reward point for every ₹100 spent on shopping 

2. SBI Card Unnati 

The SBI Card Unnati is an entry-level secured credit card, which is available at a minimal annual fee of only ₹499 plus GST. However, the annual fee is waived for the first four years of card ownership. Check out some of the key benefits of this credit card. 

  • Cashback of ₹500 on spending at least ₹50,000 within the first 15 days of card ownership

  • 1 reward point for every ₹100 spent on the credit card

  • 1% fuel surcharge waiver on fuel transactions between ₹500 and ₹3,000

  • The card is issued against a minimum FD of at least ₹25,000 held with the State Bank of India

3. ICICI Bank Instant Platinum Credit Card

The Instant Platinum Credit Card is a credit card that’s issued against a fixed deposit of at least ₹20,000 held with the bank. ICICI Bank doesn’t levy any joining or annual fee on this credit card, making it one of the few free secured credit cards in India. Here’s a list of the card’s features and benefits. 

  • 25% discount, subject to a maximum of ₹100 each month, on movie tickets booked through BookMyShow

  • 2 PAYBACK points on every ₹100 spent on the card 

  • Low interest rate of just 2.49% per month 

4. Bank of Baroda Prime Credit Card 

The Prime Credit Card from Bank of Baroda is a feature-rich card that offers multiple exciting benefits. The card is issued to applicants that have a fixed deposit with a minimum amount of ₹15,000 with the bank. 


Here are some attractive features and benefits of this credit card that you need to know about. 

  • 1 reward point for every ₹100 spent on select transactions 

  • 2 reward points for every ₹100 spent on all other transactions

  • Zero joining and annual fees 

  • 1% fuel surcharge waiver on all fuel transactions ranging from ₹400 to ₹5,000

5. Axis Bank MY ZONE EASY Credit Card 

Axis Bank issued this credit card against FDs of a minimum of ₹15,000. The MY ZONE EASY Credit Card offers a host of benefits to the cardholder. One of the highlights of this card is its joining and annual fee, which is very nominal at just ₹500 plus taxes. 


Some of the other benefits offered by the MY ZONE EASY Credit Card are listed below. 

  • Cashback of 25%, subject to a maximum ₹1,000 in a year, on movie tickets booked online or offline

  • 1% fuel surcharge waiver on fuel transactions ranging between ₹400 and ₹4,000

  • 4 reward points for every ₹200 spent on the card 

  • 15% dining discount on restaurants affiliated with Axis Bank’s Dining Delights program 

Features and Benefits of FD-Based Credit Cards

Credit cards against fixed deposits have numerous attractive features and benefits. Take a look at some of these key features and benefits here.

FD-Based Credit Limit

The credit card issuer determines the  credit card limit based on the value of the fixed deposit. Typically, credit card providers offer a credit card limit anywhere from 80% to 90% of the fixed deposit’s value. However, some of them also offer a credit limit for the full value of the FD.

Low Fees

Compared to unsecured credit cards, the charges applicable to secured credit cards are very nominal.

Minimal Documentation

Since you already have an existing relationship with the bank, you don’t have to submit any documentation to avail a credit card against your FD.

Builds Credit Score

Cardholders with low or no credit scores can use the  secured credit card to build credit history and boost their scores.

Eligibility Criteria for an FD Credit Card

To get a credit card against an FD, you need to satisfy certain eligibility criteria. Here’s a quick look at what they are.

  • You must be a resident Indian individual

  • You must be at least 18 years old

  • You should have a fixed deposit for a minimum time horizon of 6 months

  • You must have an active fixed deposit with the card issuing bank 

  • Your FD must be free from other liens, i.e., not already marked as collateral for other credit facilities

FAQs on Credit Card Against FD

Yes, a credit card on FD can help you increase your CIBIL score, provided you pay all the outstanding dues on time. However, in case of any payment defaults, this can hurt your credit score.

If you are applying for an FD-secured credit card, you must have a required minimum deposit in your bank account for the FD. The bank locks this amount for the complete duration of the fixed deposit.


In case you fail to make your credit card payments repeatedly, the bank can liquidate your FD to recover your due amount.

The minimum amount varies from one issuer to another. For instance, while some banks may issue credit cards against a fixed deposit of ₹10,000, others may demand a deposit of ₹25,000 or more.

Yes, NRIs can get a credit card, provided they maintain an NRO/NRE fixed deposit account with the bank.

An unsecured credit card requires an excellent credit score with no collateral pledged. On the other hand, you need to pledge FD as collateral when opting for a credit card against FD.

There are many great secured credit cards in India. The Bajaj Finserv RBL Bank Freedom SuperCard and the SBI Card Unnati are two of the best options you can consider applying for.

Yes. If you have a bad or no credit history, getting a credit card against an FD is the best way to rebuild your score. On the other hand, if you have an irregular income source or have no proof of your income, getting a secured credit card is usually the only option. 

Additionally, you also get to enjoy lower fees and interest compared to unsecured credit cards.

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