Credit card againts FD
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Credit Card Against FD (Fixed Deposit)

Credit Card against Fixed Deposit is a financial tool that allows you to tap into the value of your Fixed Deposit(s) without breaking it or losing out on interest. Under this Credit Card offering, individuals can access a credit limit by leveraging their existing Fixed Deposits as collateral. A Credit Card against FD is a smart and clever way to monetise your savings and get the best of both worlds, i.e., liquidity and interest earnings.

Features & benefits of a Credit Card against Fixed Deposit

No income proof required

No Income Proof Required

  • You don’t need to submit income documents to apply for a credit card. A fixed deposit is all you need to get started!
Easy approval

Instant Approval

  • Enjoy quick and seamless approval of your credit card application when you book an fixed deposit.
Decent credit limits

Flexible Credit Limit

  • Get a credit limit of up to 80%-90% of your fixed deposit value, ensuring financial flexibility.
Rewards and points

Exclusive Rewards & Offers

  • Earn EDGE REWARD Points reward points on every transaction and enjoy exclusive benefits such as discounts, cashback, and more.
Minimal documentation

Build or Improve Credit Score

  • Perfect for first-time credit card users or those looking to strengthen their credit history.
Lower fees

Hassle-Free Process

  • Apply online via Axis Bank Internet Banking or Mobile Banking App, open for a seamless experience.

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Eligibility criteria for Credit Card against Fixed Deposit

  • You must be Indian and have a valid PAN CARD
  • You must be 18 years old and above
  • You can book Fixed Deposit through any UPI app

How to Apply for a Credit Card Against Fixed Deposit?

It is easy to get a Credit Card Against Fixed Deposit with Axis Bank. All you need to do is:

  • Click here to apply now or visit the Mobile Banking App, open and select the option.
  • Verify yourself with your Aadhaar and PAN CARD.
  • Select FD Amount and credit card: Choose the fixed deposit amount that will secure credit card and the required credit limit.
  • Enter your personal information such as address, Email ID and make payment for the FD amount.
  • Complete the process with a short Know your Customer (KYC) Video Call with our authorized agent if you are not an Axis Bank Customer.

    • If you are an existing Axis Bank Customer, you can directly make the payment post selection of your FD Investment amount and your favorite credit card and complete the process without Video KYC verification.

    Once approved, activate your credit card

  • Download the Mobile Banking App, open from the Google Play Store or Apple App Store.
  • Log in using your Customer ID.
  • Verify your registered mobile number with OTP.
  • Track Your Application status under ‘Credit Card.’
  • Once received, activate and set up your credit card PIN via Internet or Mobile Banking.

With your credit card linked to your FD, you can now spend smartly, earn rewards, and build your credit score effortlessly.


FAQs

A Fixed Deposit Credit Card is a type of Credit Card that is secured against a Fixed Deposit. This means that the Credit Card stays linked to your Fixed Deposit which is used as collateral to secure the credit limit against FD.

Also known as an FD backed Credit Card, Fixed Deposit Credit Card enables you to access a secure source of funding (typically a percentage of the Fixed Deposit amount) that can be used for various purposes just like a regular Credit Card.

A Credit Card on FD is a good option as it offers a secure line of credit, helps build your credit score, keeps your investment (FD) intact while continuing to earn interest, and requires minimal documentation. Hence, these cards are ideal for individuals new to the credit system.

No, a Credit Card Against Fixed Deposit does not require a minimum credit score. This makes it an ideal option for those with low or no credit score who are looking to access credit and build their credit history

Yes, an FD Credit Card can help improve your CIBIL score. However, to do so, you need to use this low-risk Credit Card responsibly and follow the best practices, such as clearing Credit Card bills on time, keeping credit utilisation low and using the same Credit Card for a longer period.

Yes. You can easily get a Credit Card with FD. But it is important to note that you must meet the eligibility criteria set by your bank to get an FD Credit Card.

An FD Credit Card is secured by the FD amount, which serves as a Credit Card on Fixed deposit collateral.

This means that in the event of default, the bank has the right to use this Credit card security deposit to recover the outstanding Credit Card dues.

However, prior to taking such a step, the bank notifies the cardholder through every possible communication channel, ensuring transparency and giving the cardholder a chance to settle the dues himself.

The minimum Fixed Deposit amount for an Axis Bank FD-linked Credit Card is ₹15,000.

Fixed Deposit can be booked through any UPI account.

No, in this journey, customers who currently hold a credit card or have previously held one but do not have it anymore are not eligible to apply for a Credit Card Against Fixed Deposit. This product is specifically designed for individuals who are new to credit cards.

In the event of losing your Credit Card, promptly notify Axis Bank by contacting Customer Care. The card will be instantly blocked, and during the same call, you can request a replacement. Additionally, report the lost card to the police station in the area where you suspect it was misplaced or lost.

A reward point serves as an extra benefit provided by banks as a token of appreciation for each credit card purchase. These points accumulate as you use your credit card, and once a sufficient amount is gathered, you have the option to redeem them for various rewards, such as gift vouchers and more.

Axis Bank offers the eDGE Loyalty Rewards Program to all its credit card customers. It is designed to reward customers for every purchase transaction they make. Each reward is curated to ensure customers have exceptional experiences when choosing and redeeming gifts with Axis Bank.

Along with presenting a wide variety of rewards, Axis Bank credit card customers can make redemptions with a minimum number of accumulated rewards points under the eDGE Loyalty Rewards Program

No, You can close a Fixed Deposit (FD) even if your credit card is active.

Step to close the FD online:

  1. Log in to your bank’s mobile app.
  2. Navigate to the Fixed Deposit Details section.
  3. Select the FD you wish to close.
  4. Tap the “Close FD” button visible at the bottom of the FD details page.
  5. Confirm the closure and proceed with the instructions.