Assam Gramin Vikash Bank Credit Card Against FD

What is an Assam Gramin Vikash Bank Credit Card Against FD?

The Assam Gramin Vikash Bank credit card against FD works like a regular credit card, with the limit based on the linked deposit. While the FD remains under lien, it continues to earn interest at prevailing Assam Gramin Vikash Bank FD rates, ranging from 3% to 5.50% per annum. This facility suits individuals without income proof or credit history, such as students, homemakers, and first-time users, enabling safe and convenient access to credit.

Assam Gramin Vikash Bank Credit Card Against FD Features

Below are the key features of the Assam Gramin Vikash Bank credit card against FD:

• Easy Access to Credit Facility: The card’s limit is determined by the fixed deposit amount, based on responsible and disciplined usage.
• Continued Interest on FD: The linked fixed deposit continues to earn interest for the entire credit card duration.
• No Income Proof Needed: Designed for applicants without salary slips, business income, or regular proof of earnings.
• Enhances Credit Profile: Regular usage and timely repayments help improve or establish a strong CIBIL score.
• Quick Processing: The application process involves minimal documentation and fast verification.
• Versatile Usage: The card can be conveniently used for shopping and online payments across various platforms.

Pros and Cons of Assam Gramin Vikash Bank Credit Card On FD

The following table highlights the key advantages and limitations of the Assam Gramin Vikash Bank Credit Card against FD:

Application Process for Assam Gramin Vikash Bank Credit Card Against FD

Applicants can apply for the Assam Gramin Vikash Bank credit card against FD through either online or offline channels, based on their preference.

Online Application Process

To apply for the Assam Gramin Vikash Bank Credit Card Against FD online, customers can complete the process through the bank’s website by following these steps:

• Visit the Official Website: Go to the Assam Gramin Vikash Bank website and navigate the secured credit cards section.
• Select the Product: Choose the Assam Gramin Vikash Bank credit card on FD and click Apply to begin the application process.
• Open or Link a Fixed Deposit: Create a new fixed deposit or link your existing FD with the bank.
• Enter Required Details: Fill in your personal, contact, and fixed deposit information accurately.
• Upload Supporting Documents: Upload PAN, Aadhaar, and a recent passport-size photograph for verification.
• Verification and Card Dispatch: After successful verification, the card is approved and delivered to your registered address within a few working days.

Offline Application Process

To apply for the Assam Gramin Vikash Bank Credit Card Against FD through an offline method, follow the simple steps below:

• Visit the Nearest Branch: Visit your nearest Assam Gramin Vikash Bank branch and request the Credit Card Against FD application form.
• Understand the Requirements: Contact the Bank’s official to understand the eligibility criteria, minimum deposit amount, and necessary documents.
• Open or Link a Fixed Deposit: If you don’t have an existing FD, open a new one as per the bank's minimum requirement or link your current deposit.
• Complete the Application Form: Fill in all required details, including your name, FD account number, and contact information.
• Submit KYC Documents: Attach copies of PAN, Aadhaar, and a passport-size photograph along with the completed application.
• Lien Marking and Card Delivery: After verification, the bank places a lien on the FD and issues the Assam Gramin Vikash Bank credit card against FD, which is delivered within a few working days.

Closure Process for Assam Gramin Vikash Bank Credit Card Against FD

To close your Assam Gramin Vikash Bank credit card on FD, follow these steps to ensure a smooth process:

• Check Outstanding Balance: Review your latest statement to ensure all card dues, EMIs, and charges are cleared.
• Clear Pending Payments: Pay the full outstanding amount to avoid any deductions from your fixed deposit.
• Visit the Branch or Contact Support: Submit a written request at your home branch or contact Customer Care for closure initiation.
• Submit Required Documents: Provide your identity proof, card copy, and closure form (if applicable) for verification.
• Lien Removal by Bank: Once the dues are cleared, the bank removes the lien marked on your fixed deposit.
• FD Continuation and Adjustment Clause: The FD continues to earn until maturity. However, any remaining unpaid balance may be adjusted from the FD amount.

Who Should Consider an Assam Gramin Vikash Bank Credit Card Against FD?

The Assam Gramin Vikash Bank credit card against FD is ideal for a wide range of customers, including:

• Students and Homemakers: Provides access to secured credit for individuals without regular income documentation.
• First-Time Borrowers: Helps new credit users establish a repayment track record and improve their CIBIL score.
• Small Business Owners: Offers convenient liquidity support without the need to withdraw or close the fixed deposit.
• Conservative Savers: Beneficial for customers who prefer safe, interest-bearing credit options with minimal financial risk.

Key Takeaways

The Assam Gramin Vikash Bank credit card against FD provides a simple and secure way to access credit while continuing to earn interest on your deposit. With minimal paperwork, quick processing, the Assam Gramin Vikash Bank credit card on FD is a practical solution for customers looking to build credit responsibly and maintain financial stability. Before applying, applicants are advised to check the latest FD interest rates to understand the returns on pledged FDs better.

Disclaimer: 
The details provided on this page are based on general features typically offered by banks for secured credit cards linked to fixed deposits. Interested customers are advised to verify the availability, eligibility criteria, and applicable terms of this product directly with Assam Gramin Vikash Bank before applying.