Equitas Small Finance Bank Credit Card Against FD

What is an Equitas Small Finance Bank Credit Card Against FD?

Equitas Small Finance Bank credit card against FD issued against a fixed deposit pledged as collateral with the bank. The FD remains under lien for the card's duration while continuing to earn interest at the prevailing Equitas Small Finance Bank FD rates. As of August 25, 2025, for deposits below ₹3 crore, the FD rates range from 3.50% to 7.10% per annum for general citizens, with senior citizens earning an additional 0.50%. This facility suits those without regular income proof, such as students, homemakers, and first-time users.

Equitas Small Finance Bank Credit Card Against FD Features

The Equitas Small Finance Bank credit card on FD comes with the following features:

• Credit Limit Based on Deposit: The credit limit is set as a fixed percentage of the linked fixed deposit, helping users manage spending responsibly.
• Interest Continuation on FD: The pledged fixed deposit continues to earn interest at the prevailing FD interest rates for the entire card tenure.
• No Income Proof Needed: Designed for applicants without salary slips, business income, or regular proof of earnings.
• Simple Eligibility Criteria: Available to those without regular income proof or credit history, provided they hold an active fixed deposit with the bank.
• Supports Credit Building: Consistent usage and timely repayments contribute to building or improving the cardholder’s CIBIL score.
• Hassle-Free Application Process: The application requires only basic KYC verification and FD details, with quick approval and minimal paperwork.

Pros and Cons of Equitas Small Finance Bank Credit Card On FD

The Equitas Small Finance Bank credit card on FD offers convenience and credit access while maintaining security, but some restrictions may apply.

Application Process for Equitas Small Finance Bank Credit Card Against FD

Depending on convenience, applicants can apply for the Equitas Small Finance Bank credit card against FD online or offline.

Online Application Process

Online application process for the Equitas Small Finance Bank Credit Card Against FD involves the following key steps:

• Visit the Bank’s Website: Go to the Equitas Small Finance Bank website and look for the Credit Card Against FD or Secured Card option.
• Select the Card Option: Choose the Equitas Small Finance Bank credit card on FD and click Apply Now to start the online application.
• Link or Open a Fixed Deposit: Open a new fixed deposit or link an existing one that meets the bank’s minimum deposit requirement.
• Enter Required Details: Provide accurate personal, contact, and deposit information, including PAN and Aadhaar.
• Submit KYC Documents: Upload self-attested copies of PAN, Aadhaar, a passport-sized photo, and address proof (such as a utility bill or bank statement).
• Verification and Card Issuance: Once verification is complete, the bank lien marks the FD and dispatches the approved credit card to your registered address.

Offline Application Process

Applicants who prefer to apply in person can obtain the Equitas Small Finance Bank Credit Card Against FD by visiting their nearest branch and following these steps:

• Visit the Nearest Branch: Go to your nearest Equitas Small Finance Bank branch and request the Credit Card Against FD application form.
• Check Eligibility and Requirements: Discuss the eligibility criteria, minimum deposit amount, and necessary documents with a bank official.
• Open or Link a Fixed Deposit: If you don’t have an existing FD, open a new one under any active Equitas Small Finance Bank FD scheme or link your current deposit.
• Fill in the Application Form: Provide accurate personal, contact, and deposit-related details in the prescribed form.
• Submit KYC Documents: Attach copies of PAN, Aadhaar, a passport-size photograph, and valid address proof such as a utility bill, rent agreement, or bank statement.
• Lien Marking and Card Issuance: After verification, the bank marks a lien on the fixed deposit and issues the card.

Closure Process for Equitas Small Finance Bank Credit Card Against FD

To close your Equitas Small Finance Bank credit card on FD, follow these simple steps:

• Review Outstanding Dues: Check your latest credit card statement to confirm that all EMIs, fees, and outstanding charges are cleared.
• Settle Pending Payments: Clear the full outstanding balance before requesting card closure to avoid deductions from your fixed deposit.
• Initiate Closure Request: Visit your home branch or contact customer care to request card closure through a written application.
• Submit Required Documents: Provide identity proof, a copy of the credit card, and the closure form (if applicable) for verification.
• Removal of Lien: After all dues are cleared, the bank removes the lien on your fixed deposit, which continues to earn interest until maturity.
• Adjustment from FD (if needed): If any dues remain unpaid, the bank may recover the amount from the fixed deposit before releasing it.

Who Should Consider an Equitas Small Finance Bank Credit Card Against FD?

The Equitas Small Finance Bank credit card on FD is a suitable option for the following customer segments:

• Depositors with Irregular Income: Freelancers, gig workers, or seasonal earners who lack consistent income proof.
• New-to-Credit Applicants: People applying for their first credit product to establish a repayment track record.
• Small Business Owners: Entrepreneurs seeking short-term liquidity or credit access without disrupting their savings.
• Conservative Investors: Customers who prefer secured, low-risk financial products that continue to earn interest.
• Students and Homemakers: Individuals without a steady income who wish to begin building their credit profile.
• CIBIL Score Rebuilders: Those aiming to improve or repair their credit history through disciplined repayment behaviour.

Key Takeaways

Equitas Small Finance Bank Credit Card against FD offers a simple and structured way to access credit without needing a strong credit history or income proof. Depending on the tenure, customers can open an FD starting from ₹5,000 and earn interest between 3.50% and 7.10% per annum. The credit card’s limit is linked to the FD amount, and the deposit remains lien-marked while continuing to earn interest. With minimal documentation, digital processing, and timely repayments, this facility helps users build their credit profile responsibly while maintaining savings growth.