FD Credit Card Is A Good Option For Those Who Are Not Having Good Cibil Score

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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 how you can get a credit card through your FD.

What are the conditions for taking credit card on FD
Fixed deposit is available in both the bank and the post office, but the condition of taking a credit card on it is that your FD should be in the bank for this.

How to get 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 score can also take this card. Many banks are offering this credit card. These include State Bank of India, ICICI Bank, Axis Bank etc.

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For example, know the rules of ICICI Bank
Every bank has different rules for taking credit card 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.

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Benefits of FD based credit cards
There are many benefits 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.

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