The Top 5 FD Cards in India in 2024
Introduction: The Top 5 FD Cards in India For students and first-time credit card users, building a solid credit history can seem daunting. However, our top 5 fd cards offer an excellent solution, especially for those with limited or no credit history. FD cards (FD based credit cards) are secured against a fixed deposit, making them a reliable choice for both the cardholder and the issuing bank. I remember how the SBM One Credit Card was instrumental in establishing my own credit score. If you’re in a similar position, looking to build your credit profile while enjoying the perks of a credit card, FD-based cards could be the ideal option for you. In this blog, we’ll delve into the top 5 FD-based credit cards available in India. We’ll explore their features, benefits, and how they can be particularly advantageous for students. Introduction Why Choose FD-Based Credit Cards? Credit Cult Recommendations: Top 5 FD-Based Credit Cards SBM One Credit Card IDFC First WOW Credit Card Kotak Mahindra #DreamDifferent Credit Card ICICI Instant Platinum Credit Card SBI Unnati Credit Card Benefits of FD-Based Credit Cards Pros and Cons of FD-Based Credit Cards Conclusion FAQs Why Choose FD-Based Credit Cards? FD-based credit cards offer a gateway to financial independence without the risks associated with unsecured credit. They are ideal for students and first-time users because they require a fixed deposit as security, reducing the likelihood of default. Credit Cult: The Top 5 FD Cards 1. SBM One Credit Card Joining/annual Fees FD RATE FD Requirement Credit LImit Early withdrawal Nil 6.55% ₹2,000 100% of fd allowed Apply Now Why Choose It?: Upto 25% Valueback Offers on Stores Around| 100% Credit | Discount on E-commerce | #Best Know More #MetalCard 1 reward point on every Rs. 100 spent No savings account required Up to 50 days of interest free credit period 1% fuel surcharge waiver zero forex convenience fees Full control from the user-friendly OneCard App 2. IDFC First Wow Card Joining/annual Fees FD RATE FD Requirement Credit LImit Early withdrawal Nil 7.5% p.a. ₹10,000 100% of fd No Apply Now Why Choose It?: 100% Credit | 50% off on BMS Ticket | 10% Instant Discount on Flipkart/Myntra/TataCliq Know More 50% off on BookMyShow Movie Tickets Setup your own credit limit by fixed deposit anytime, anywhere Great partner offers 300+ brands like Myntra, Flipkart, Ajio, etc. Zero Forex Conversion Fee Personal Accident cover of up to Rs.2,00,000 Fuel surcharge waiver of 1% upto Rs. 200/month 10% Instant discount on Flipkart 10% Instant discount on Myntra, AJIO, Tata CliQ,1MG 15% Instant discount on Tata CliQ, Palette, Sugar cosmetics, Zomato 10-20% Instant discounts on Travel bookings on Yatra, Adani one, MMT , GoIbibo etc 3. Kotak Mahindra Card Joining/annual Fees FD RATE FD Requirement Credit LImit Early withdrawal Nil bank fd rates ₹5,555 or ₹10,000 90% of FD Not disclosed Apply Now Why Choose It?: UPI Enabled | 1% Valueback on Online Spends | Milestone Offers | Online Offers by Bank Know More Cash withdrawal allowed up to 90% of the credit limit 1% fuel surcharge waiver on all petrol pumps (between Rs. 500 and Rs. 3,000) (Maximum Rs. 3,500 per year) Up to 48 days of interest-free cash withdrawal from the date of purchase made (Fee Applicable) 500 bonus reward points on Rs 5,000 spends in the first 45 days Milestone Program on spends of 75,000/more – Earn Cashback of Rs 750 or Get 4 PVR Tickets 4. ICICI Instant Platinum Joining/annual Fees FD RATE FD Requirement Credit LImit Early withdrawal Nil Bank fd rates ₹50,000 Not disclosed not disclosed Apply Now Why Choose It?: 10% Instant Discount and No-Cost-EMI on Online Platforms | Movie Discounts Know More Enjoy waiver of 2.5% fuel surcharge on fuel purchases at HPCL Petrol Pumps when the Card is swiped on the ICICI Merchant Services swipe machines. Fuel surcharge waiver is applicable only for transaction up to Rs 4000. Earn 2 ICICI reward points on every Rs 100 spent except on fuel purchases. Redeem your ICICI reward points for attractive products. Dining Offers on TGI Fridays, Café Coffee Day, Pizza Hut, etc through ICICI Bank Culinary Treats Program 5. SBI Unnati Credit Card Joining/annual Fees FD RATE FD Requirement Credit LImit where to apply Nil (for 4 years) bank fd rates 25,000 Not disclosed Apply in branch Apply Now Why Choose It?: Online Offers | Milestone Benefit Know More No annual fee for the first 4 years 1 reward point per Rs. 100 spent 1% fuel surcharge waiver of up to Rs 100 per statement cycle (spend between Rs. 500 – Rs. 3,000) Milestone Rewards – Rs 500 cashback on achieving annual spends of Rs 50,000 Attractive offers & discounts from Zomato, Xiaomi, Amazon, ClearTrip, Ajio, MakeMyTrip and other top brands Benefits of FD-Based Credit Cards FD-based credit cards come with several advantages that make them an attractive option for students and those new to credit: Easy Approval: These cards are secured against an FD, making approval easier even for those with no credit history. Credit Building: Regular usage and timely payments help in building a credit score, essential for future credit needs. Low Risk: The risk is lower for both the bank and the cardholder, as the FD acts as collateral. Rewards and Offers: Despite being secured, these cards offer rewards, discounts, and other benefits similar to unsecured credit cards. Flexibility: The fixed deposit earns interest, and the credit card allows for flexibility in managing expenses. Pros and Cons of FD Cards Pros: Easy Approval Process: Since these cards are backed by a fixed deposit, the approval process is straightforward. Builds Credit History: A good option for those looking to establish or improve their credit score. Low Default Risk: The
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