HDFC Bank Credit Card Against FD

What is an HDFC Credit Card Against FD?

Customers can apply for an HDFC Bank credit card against a fixed deposit when they open an FD. Depositors do not require proof of income or credit history to apply for a credit card against FD. It's suitable for young professionals who are just starting out and haven't built their credit score yet. The FD remains with the bank and continues earning interest, while customers can use the credit card for regular transactions per standard terms. This option is handy for those who want to earn steady returns through competitive HDFC Bank FD interest rates.

HDFC Bank Credit Against FD Features

HDFC Bank offers a credit card against an FD with simplified approval, no income proof requirement, and credit limits based on the deposit amount. The following are some key features of HDFC credit card against FD:

• Minimum FD Requirement: You need an HDFC Bank fixed deposit of at least ₹15,000 with a tenure of one year or more to apply for the card.
• Credit Limit Structure: HDFC Bank offers a credit limit of 90% to 100% of the fixed deposit value when issuing a credit card against an FD. However, the maximum credit limit is capped at ₹3 lakh.
• Eligible Age Group: HDFC Bank requires applicants to be between 18 and 65 years old to be eligible for a credit card against an FD.
• Interest Charges: You can use the HDFC Bank credit card against an FD to make purchases and avoid paying interest if you repay the full amount by the due date. Interest is only charged if the payment is delayed.
• No Income Documents Needed: HDFC Bank credit card against FD can be issued without proof of income, job details, or credit score history.

Pros and Cons of HDFC Bank Credit Card Against FD

The table below highlights some key pros and cons of HDFC Bank Credit card against FD to help you make an informed decision:

Also, for those looking to save tax on FD interest, submitting Form 15G or 15H can help reduce TDS deductions.

Application Process for HDFC Credit Card Against FD

To apply for an FD-based credit card from HDFC Bank, follow these steps:

1. Open a Fixed Deposit

   • Start by opening a fixed deposit with HDFC Bank if you don’t already have one.
   • Ensure the deposit amount is at least ₹15,000 and the tenure meets the bank’s minimum requirement. 

2. Fill Out the Application Form

   • Complete the application form for a credit card against a fixed deposit.
   • Mention the details of the fixed deposit you wish to link to the credit card.

3. Submit Required Documents

   • Provide valid identity proof and address proof.
   • Include your FD receipt or acknowledgement as part of the submission.

4. Verification and Issuance

   • HDFC Bank will verify the submitted documents and FD details.
   • Upon successful verification, the credit card will be approved and dispatched.

Closure Process for HDFC Bank Credit Card Against FD

Here’s how you can close your credit card linked to a fixed deposit with HDFC Bank:

• Pay Outstanding Dues: To close the HDFC Bank Credit Card Against FD, you need to pay all outstanding dues on the card. 
• Submit Closure Request: After that, you can request closure through NetBanking, customer care, or by visiting an HDFC Bank branch. 
• FD Hold Removal: Once everything is cleared, the bank will remove the hold on your fixed deposit within 7 to 10 working days. 
• FD Closure and Unpaid Dues: If any payment is due on your credit card, HDFC Bank may block your FD until you pay the full due amount. 
• Penalty Clause on Unpaid Dues: In such cases, the bank may also reduce the interest provided on your deposits or charge a penalty on the FD.

Who Should Consider an HDFC Bank Credit Card Against an FD?

Check if you fall under any of these categories:

• Individuals Without Income Proof: This credit card is ideal for individuals who don’t have regular income documents or an established credit history. 
• First-Time Credit Card Users: It works well for students, first-time credit card users, homemakers, freelancers, or anyone seeking quick access to credit with minimal paperwork. 
• Individuals Looking for Credit Score Building: Since no income proof is required, it’s also a smart way to build or improve your credit score using a fixed deposit. 

Key Takeaways 

The HDFC Bank Credit Card Against FD is a secured credit card issued against a fixed deposit with the bank. To apply, you need to deposit at least ₹15,000 and be between 18 and 65 years of age. The credit limit typically ranges from 90% to 100% of the FD amount, with a maximum cap of ₹3 lakh. You don’t need to provide proof of income or a credit history, which makes it ideal for students, homemakers, or anyone new to credit. Plus, your deposit continues to earn interest based on the prevailing FD interest rates, making it a practical financial tool for those looking to grow their savings while accessing credit. 

Bank FD Interest Rates

Bank FD Calculator

NRI-NRE FD Rates

Allahabad Bank FD Interest Rates

Andhra Bank FD Interest Rates

Assam Gramin Vikash Bank FD Interest Rates

AU Small Finance Bank FD Interest Rates

Axis Bank FD Rates

Bajaj Finance FD Interest Rates

Bandhan Bank FD Interest Rates

Bangiya Gramin Vikash Bank FD Interest Rates

Bank of Baroda FD Interest Rates

Bank of Ceylon FD Interest Rates

Bank of India FD Interest Rates

Bank of Maharashtra FD Interest Rates

Baroda Gujarat Gramin Bank FD Interest Rates

Canara Bank FD Interest Rates

Capital Small Finance Bank FD Interest Rates

Central Bank of India FD Interest Rates

Citibank FD Interest Rates

City Union Bank FD Interest Rates

Corporation Bank FD Interest Rates

Dakshin Bihar Gramin Bank FD Interest Rates

DBS Bank FD Interest Rates

Dena Bank FD Interest Rates

Dhanlaxmi Bank FD Interest Rates

Equitas Small Finance Bank FD Interest Rates

ESAF Small Finance Bank FD Interest Rates

HDFC Bank FD Interest Rates

HSBC FD Interest Rates

ICICI Bank FD Interest Rates

IDBI Bank FD Interest Rates

IDFC First Bank FD Interest Rates

Indian Bank FD Interest Rates

Indian Overseas Bank FD Interest Rates

IndusInd Bank FD Interest Rates

Jana Small Finance Bank FD Interest Rates

Karnataka Bank FD Interest Rates

Kerala Gramin Bank FD Interest Rates

Kotak Mahindra Bank FD Interest Rates

Lakshmi Vilas Bank FD Interest Rates

Muthoot Capital

Nainital Bank FD Interest Rates

Odisha Gramya Bank FD Interest Rates

Paschim Banga Gramin Bank FD Interest Rates

Paytm Payments Bank FD Interest Rates

PNB FD Interest Rates

Prathama UP Gramin Bank FD Interest Rates

RBL Bank FD Rates

Saurashtra Gramin Bank FD Interest Rates

SBI FD Interest Rates

Shriram Finance FD Interest Rates

State Bank of Hyderabad FD Interest Rates

State Bank of Mysore FD Interest Rates

State Bank of Travancore FD Interest Rates

Syndicate Bank FD Interest Rates

Tamil Nadu Grama Bank FD Interest Rates

Telangana Grameena Bank FD Interest Rates

Tripura Gramin Bank FD Interest Rates

UCO Bank FD Interest Rates

Ujjivan Small Finance Bank FD Interest Rates

Union Bank of India FD Interest Rates

Uttar Bihar Gramin Bank FD Interest Rates

Uttarakhand Gramin Bank FD Interest Rates

Vijaya Bank FD Interest Rates

Yes Bank FD Interest Rates

Expand

Allahabad Bank FD Calculator

Andhra Bank FD Calculator

AU Bank FD Calculator

Axis Bank FD Calculator

Bajaj Finance FD Calculator

Bandhan Bank FD Calculator

Bank of Baroda FD Calculator

Bank of India FD Calculator

Bank of Maharashtra FD Calculator

Canara Bank FD Calculator

Central Bank FD Calculator

Corporation Bank FD Calculator

Equitas Small Finance Bank FD Calculator

HDFC Bank FD Calculator

ICICI Bank FD Calculator

IDBI Bank FD Calculator

IDFC Bank FD Calculator

Indian Bank FD Calculator

Indian Overseas Bank FD Calculator

IndusInd Bank FD Calculator

Karnataka Bank FD Calculator

Karur Vysya Bank FD Calculator

Kotak Bank FD Calculator

Mahindra Finance FD Calculator

OBC Bank FD Calculator

Odisha Gramya Bank FD Calculator

PNB Bank FD Calculator

SBI FD Calculator

Shriram Finance FD Calculator

Syndicate Bank FD Calculator

Tripura Gramin Bank FD Calculator

UCO Bank FD Calculator

Union Bank FD Calculator

Yes Bank FD Calculator

Expand

HDFC NRE FD Rates

Maybank Malaysia FD Rates

SBI NRI FD Rates

Axis NRI FD Rates

Maybank Singapore FD Rates

Yes Bank NRI FD Rates