FD Credit Card: You can also take a credit card on a fixed deposit, know about this facility which is useful for you
Credit Card on FD
In today’s time, credit card has become a necessity and card companies are ready to give it easily. However, there are some people who are not eligible to take a credit card. Either there is not enough amount in their bank account or sometimes the CIBIL score can also be the reason behind this. Here we are telling you how you can get a credit card through your FD.
The conditions for taking credit cards on FD Fixed deposit
the conditions for taking credit card on FD Fixed deposit is available in both bank and post office, but the condition of taking credit card on it is that for this your FD should be in the bank.
How to make a credit card on FD
The limit of this credit card is also decided on the basis of FD. Bank records the amount of FD as security, so people with low credit scores can also take this card. Many banks are offering this credit card. These include the State Bank of India, ICICI Bank, Axis Bank, etc.
Rules of ICICI Bank: All other banks offer different -2 rule
The rules of every bank are different for taking credit cards against FD. Here we are giving for example the terms and conditions of ICICI Bank. This bank is offering 3 types of credit cards on FD and for this, the FD card should have auto-renewable mode. FD credit card should be at least 6 months tenure and its minimum amount should be 10 thousand rupees.
Advantages of FD Based Credit Card
There are many advantages of FD-based credit cards. You do not have to provide documents for this card and it is easily available. Shopping, paying bills, etc with this credit card will help you in improving your credit history and credit score. Along with this, the interest rate on this card is also low. If you have got an FD in the bank and want to take this card, then you can contact your bank.