Fixed deposits are the first choice for Indian investors.RBI is always changing rates and investments up to Rs.1 lakh insured by RBI yet there are many ins and outs of fixed deposit. Short term fixed deposits are popular investment option. It would take almost 8-9 yrs. to double your investment.
The Credit cards are not easily provided by banks if you cannot show a constant income, but now you can get Credit card against the fixed deposit. It is the best option for a student and homemakers to get a credit card. You can get a credit card based on fixed deposit amount, which can range from Rs 25000 to Rs.25 lakhs. The credit limit will be 80-85% of your deposit account but documentation is less in this process. Here we list top fixed deposits against credit card option.
6. Bank of Baroda Fixed deposit
Bank of Baroda is offering BOB assure credit card for its fixed deposit holders. The credit limit is 80% of the FD amount. BOB provides instant pay service for its customers. Add on cards and personal coverage’s are provided. The FD of minimum Rs25000 is necessary with the person being above 18. There is no joining fee. Loyalty points and exclusive offers are given.
5. Kotak Mahindra Bank Fixed deposit
Kotak Mahindra Bank card provides Solaris, Galaxia and Aqua gold credit card against its fixed deposit term. Aqua Gold credit card is suitable for the businessperson. The minimum fixed deposit amount is Rs. 25000.Age limit is 18-75. The Credit limit is 80% of the deposit and credit free period is 48 days. Add on card option is available and cash limit of 90% is provided. Fuel and railway surcharge waiver additionally.
4. Central bank of India Fixed deposit
The Central bank of India provides Aspire credit card against Central bank of India Fixed deposit. The Aspire card is EMV based with high security and issued against Cent Aspire term deposits. The Credit limit is 80% of the deposit amount. CIBIL verification not necessary and maximum validity is for 3yrs.Rewards is available and both the domestic as well as international transactions are available.
3. Axis bank Fixed deposit
Axis bank provides Instant easy credit card for its fixed deposit holders. The minimum amount is Rs.20000. Extensive documentation like income proof and address proof not required. The joining fee is Rs. 500.cash withdrawal fee is 2.5% of the cash withdrawn. 100% cash withdrawal option. Free credit period of 50 days. Earn loyalty reward points and EMI option is available.
2. SBI Fixed deposit
SBI will provide you an SBI advantage premium credit card if you have an SBI fixed deposit, which can be used at 24 million stores across the world. The payment is flexible. 100 % cash withdrawal limit and minimum charges of 2.55% on the unpaid amount. Transfer of credit from other cards possible. Cash points and rewards are available with a welcome gift of up to Rs.3000.SBI also provides advantage plus credit card with limit 85%of the Fixed deposit amount.EMI option is available.SB I advantage plus credit card is best for students.
1. ICICI Fixed deposit
ICICI bank offers coral credit card against fixed deposit. The fixed deposit account must be active to use the coral credit card. The credit card linked to fixed deposit and has the limit 85% of the fixed deposit amount. The credit card due should be paid in 60 days, or the outstanding amount will be recovered from fixed deposit. The eligibility is above 18 yrs. In addition, a fixed deposit of Rs.20000 for more than 180 days. Only identification document is required. There are lifestyle rewards including dining and airport lounge access and a gift from pro vogue.
We hope you found the article helpful and informative. Here we listed Top Fixed deposit against the credit card. This can be a better option than a combination of fixed deposit as well as a credit card, available without the documentation hassles.