Financial institutions and banks offer credit card for working professional. The basic documentation required for credit card is monthly salary slip or income tax statement. But self employed or small business owner may require credit card to expand their business. Moreover Credit card provides cash back, rewards and EMI offers for online shopping. They may not able to get credit card without salary slip to enjoy the credit card benefits. But they can apply credit card against Fixed Deposit.
Fixed Deposit:
Fixed deposit (FD) is a financial instrument provided by banks, it provides a higher rate of interest than a regular savings account. It is best saving option in India and returns is assured with higher interest rates from 5.50 to 7.00 P.A. Apart from higher interest rates, it provides tax saving benefit as well. On top of that, Banks provide credit cards against fixed deposit. Let us explore the list of banks offers credit card against fixed deposit.
ICICI Bank Coral Credit Card Against Fixed Deposit:
ICICI Bank offers coral credit card to customers without any income related documents and based on fixed deposit. The credit card users enjoy the rewards, movie tickets offers by coral credit card.
Offers and Fees :
- Special joining fees Rs. 500
- 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.
- 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. Get Encash facility with SBI Advantage Plus Card to help you open a Fixed Deposit with State Bank of India.
offers and Fees :
- Annual Fees : Rs 500.
- 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.
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 100% of the fixed deposit amount.
Offers and Fees :
- Annual Fees and joining Fees : Nil
- Rewards are offered on using the card for dining, travelling, movies, and so on.
- Benefit of Anmol rewardz 1 point per Rs 100/- spent .
- This card offers interest free credit period of 55 days.
Axis Bank Insta Easy Credit Card:
Axis bank offers credit card without any document. It offered against fixed deposit and available in all the axis bank branch as Insta Easy Credit Card.
Offers and Fees:
- Annual fees: nil.
- 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.
- Convert purchase to EMI.
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.
Offers and Fees :
- Joining Fees and Annual Fees : Nil
- 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.
- 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 100% of the fixed deposit amount.
Offers and Fees :
- Annual Fees : Rs. 500
- 100% cash withdrawal
- Make Assure lifetime free
- Earn 1 Loyalty points on every Rs.100.
- Easy EMI option
Fixed Deposit provides higher interest rates, Tax saving and credit card as well. Open fixed deposit account in bank and apply for credit card. 3 in 1 benefit by fixed deposit. Happy saving.:)