Hdfc Bank Instant Credit Card Against Fixed Deposit

Why credit card against fixed deposit. You will have to open minimum 20000 fixed deposit in order to apply for credit card against fixed deposit.

How To Apply For Hdfc Bank Credit Card Against Fixed Deposit

hdfc bank instant credit card against fixed deposit

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The fd thus acts as collateral unlike in case of other unsecured credit cards where the bank decides ones credit limit on the basis of the applicants salary credit history and so on.

Hdfc bank instant credit card against fixed deposit. Hdfc bank is offering the credit cards against fixed deposits. Insta loan is a pre approved loan above the credit limit on your hdfc bank credit card ie. Limit offered is in the range of 80 85 of the fd amount.

This means that your credit card and your fixed deposit will be linked. The loan amount will not be blocked against the credit limit. Generally banks will offer credit cards of limit anywhere between 80 100 of the actual value of the fixed deposit.

A lien will be marked on your fixed deposit and 85 of the amount of the fixed deposit will be issued as credit limit on your icici bank coral credit card. No documentation is required. Following is a list of secured credit.

5 i am aware that hdfc bank computes interest on its domestic nro nre deposit accounts based on the actual number of days in a year ie 366 days in a leap year and 365 days in a non leap year. Credit cards are great products that provide you with instant liquidity but come with high interest rates on the borrowed credit. To avail a one you need a fixed deposit minimum amounting rs.

Secured credit cards are issued by banks against fixed deposits fd. The credit cards that are issued against a fixed deposit are also called as secured credit cards and it is one of the easy yet under utilized way to improve the cibil score. I agree that the bank will pay the fixed deposit amount either on maturity or premature withdrawal at any branch irrespective of the branch where the deposit is booked.

The procedure to apply for hdfc bank credit card against fixed deposit is very simple just you need know following facts below applying for hdfc bank credit card against fixed deposit. Credit card against fixed deposit fd is offered by sbi axis bank icici bank kotak mahindra bank andhra bank hdfc syndicate. 25000 against which you can avail the credit card limit of rs.

20000 so if you want higher limits get a fixed dep. Ive had a credit card based on fixed deposit for about 4 years since i was in college and it had undoubtedly contributed a lot to improve my cibil score. The fixed deposit must continue with us while your credit card is live and will be thus placed in an auto renewal mode.

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