HDFC Credit Card Against FD - Benefits & Eligibility

What is an HDFC Credit Card Against an FD?

An HDFC credit card against an FD is a secured credit card you get by opening a fixed deposit with HDFC Bank. You don’t need a high income or credit score, which makes it a suitable option for students, first-time credit users, or anyone building a credit score. The minimum fixed deposit amount required is ₹15,000. It’s a smart way to earn while you spend, as your deposit continues to earn interest at the HDFC Bank FD rates while the credit card stays active.

Benefits of Choosing a Credit Card Against an FD HDFC

Here’s why an HDFC credit card against an FD can be a useful option for managing your finances:

1. Instant Approval

   Since your FD acts as security, the approval process is simple and faster. You don’t have to go through lengthy checks, making it easy.

2. Build Your Credit Score

   Using your card for everyday purchases and paying the bills on time helps you build a healthy credit history. This is especially useful if you're trying to improve or start building your credit history.

3. No Income Proof Needed

   You don’t need to submit salary slips or proof of employment to apply. This makes it a great option for students, homemakers, or anyone without a regular income.

4. Earn As You Spend

   Your fixed deposit continues to earn interest while securing your credit card. You can enjoy the benefits of a credit card without touching your savings.

5. Flexible Credit Limit

   Your credit limit is linked to your FD amount, usually up to 90% of the deposit value. You can combine multiple eligible FDs during the online application to increase your total credit limit and get more spending power.

How Much Do You Need in Your Account for an HDFC Bank Credit Card against FD?

To get an HDFC Credit Card on FD, you must open a fixed deposit of at least ₹15,000 through your HDFC savings account. The bank offers a credit limit of up to 90% of your FD amount. For example, if you keep ₹20,000 in an FD, your credit limit will be ₹18,000. However, the credit limit is capped at ₹3 lakh. That means even if your FD is more than ₹3 lakh, the highest credit limit you can get is ₹3 lakh.

Key Features of SBI Secured Credit Card

The HDFC Credit Card on FD comes with popular features that make it a smart pick for beginners and those looking to rebuild credit:

• Grace Period: Make purchases and repay within the due date to avoid interest charges, as long as the full bill is paid on time.
• Cashback and Rewards: Earn reward points or cashback on eligible spends and redeem them for vouchers, air miles, or statement credit.
• Smart EMIs: Convert your purchases into easy EMIs with flexible repayment options and competitive interest rates.
• Easy Management: Track and control your card activity through NetBanking, the HDFC mobile banking app, MyCards mobile app or the MyCards web platform.

How to Apply for an HDFC Credit Card on FD?

The following is a simple step-by-step process to apply for an HDFC Credit Card against a Fixed Deposit:

• Open a fixed deposit with HDFC Bank for at least ₹15,000. Make sure the deposit meets the bank’s minimum tenure requirement.
• Log in to NetBanking or visit the nearest HDFC Bank branch to get the credit card application form.
• Fill in the required details and link the fixed deposit you want to use for the card.
• Submit valid ID proof, address proof, and the FD receipt or acknowledgement.
• The bank will verify your details. Once approved, your credit card will be issued and delivered to your registered address.

Key Takeaways 

An HDFC Bank credit card against FD is a secured credit card you can get by opening a fixed deposit of ₹15,000 or more. It’s available for a wide range of customers aged 18 to 75 years, and you don’t need to show proof of income or credit history. Your fixed deposits keep earning interest as per the FD interest rates, while you enjoy the ease and benefits of using a credit card.