Canara Bank Credit Card Against FD

What is a Canara Bank Credit Card Against FD?

A Canara Bank credit card against FD allows customers to get a credit card by linking it to a fixed deposit with the bank. Any applicant above 18 years with an FD can apply for this facility. The card can be used for everyday transactions under standard terms. The fixed deposit continues to earn interest at prevailing Canara Bank FD rates (ranging from 3.25% to 6.50% per annum for non-senior citizens, as of October 2025). No income proof or credit history is required, making it a convenient way to access credit while keeping savings intact.

Canara Bank Credit Card Against FD Features

The Canara Bank Credit Card on FD has simple eligibility requirements and minimal documentation. The key features are mentioned below:

• Interest Benefits on FD: The linked fixed deposit continues to earn interest at prevailing Canara Bank FD rates, ensuring that savings are not affected while using the card.
• Lifetime Free Card Facility: The card generally comes without joining or annual charges, making it a cost-effective option for first-time credit card users.
• No Income Proof Needed: Get the card without salary slips or income documents, making it easy for new users, students, and homemakers to apply.
• Build Your Credit Profile: Regular and timely repayments on the card improve your CIBIL score and strengthen your financial credibility.

Pros and Cons of Canara Bank Credit Card On FD

The Canara Bank Credit Card Against FD offers several benefits but has certain limitations. The key pros and cons are highlighted below:

Application Process for Canara Bank Credit Card Against FD

Applying for a Canara Bank Credit Card against FD is simple and can be done online and offline. Below is a step-by-step guide for each method:

Online Application Process

For customers who prefer digital banking, Canara Bank allows the application process to be completed through its official website.

• Visit the Official Website: Go to the Canara Bank official website and navigate to the credit card section.
• Select FD-Linked Credit Card Option: Choose the credit card issued against fixed deposits and click “Apply Now.”
• Open or Link a Fixed Deposit: Create a new FD or link an existing one that meets the eligibility criteria.
• Fill in the Application Form: Enter personal details, FD account information, and contact details in the online application form.
• Upload Required Documents: Submit scanned copies of documents such as PAN card, Aadhaar/Passport/Voter ID, and a passport-size photograph.
• Verification and Approval: The bank verifies the application and FD details. Once approved, the credit card is dispatched to your registered address.

Offline Application Process

For applicants who prefer face-to-face interaction, the credit card can be applied for by visiting the nearest Canara Bank branch.

• Visit Nearest Branch: Go to the nearest Canara Bank branch and request the application form for a credit card against FD.
• Place a Fixed Deposit: If you don’t already have one, open a fixed deposit that meets the bank’s minimum amount and tenure requirements.
• Fill the Application Form: Complete the form with your personal details and FD account information for lien marking.
• Attach Supporting Documents: Submit a passport-size photograph and photocopies of PAN card, address proof, and FD receipt.
• Bank Verification: The branch staff will verify your FD and submitted documents before processing the request.
• Credit Card Issuance: Once verification is complete, the FD is lien-marked and the credit card is issued and delivered within a few working days.

Closure Process for Canara Bank Credit Card Against FD

When you decide to close your Canara Bank Credit Card on FD, certain formalities must be completed to ensure a smooth process. Below are the key steps involved in closing the card:

• Clear Outstanding Dues: Ensure all pending balances on the credit card are fully paid before initiating closure.
• Submit a Closure Request: Place a closure request through your nearest branch, by contacting customer care, or via internet banking.
• Lien Release on FD: Once the closure request is processed, the bank will remove the lien marked on your fixed deposit.
• Adjustment Against FD: If any dues remain unpaid, Canara Bank can recover them directly from your fixed deposit.
• Impact on FD Interest: In case of recovery from the fixed deposit, the interest earned may be reduced per the bank’s policy.

Who Should Consider a Canara Bank Credit Card Against FD?

A Canara Bank Credit Card on FD is designed for investors who want easy access to credit without strict eligibility requirements. This option is especially useful for the following groups:

• Students and Homemakers: Depositors without a regular source of income can avail this card by placing a fixed deposit with the bank.
• First-Time Credit Users: Borrowers new to the credit system can use this card to build or improve their credit history safely and responsibly.
• Conservative Savers: Customers who prefer to keep their money safe in fixed deposits while also enjoying the flexibility of a credit card can benefit from this facility.

Key Takeaways

The Canara Bank Credit Card on FD allows customers to access credit while their fixed deposit continues to earn interest. Along with a Canara Bank loan on FD, this offers options for secured credit. The card can be availed by students, homemakers, and first-time credit users. The linked fixed deposit remains active and earns FD interest rates ranging from 3.25% to 6.50% per annum for general citizens. Timely repayment of dues on the card helps build and improve the user’s credit score.