Odisha Gramya Bank Credit Card Against FD

What is the Odisha Gramya Bank Credit Card Against FD?

Odisha Gramya Bank Credit Card against FD is a secured facility offered without credit score verification and requires limited documentation for issuance. Customers can use it for EMIs, online payments, and purchases. In the meantime, the FD keeps earning at the prevailing Odisha Gramya Bank FD rates, which vary depending on the tenure and range from 3% to 6.10% per annum. The deposit can be opened for a tenure ranging from 1 year to 10 years, in multiples of three months, offering flexibility to suit different financial goals.

Features of Odisha Gramya Bank Credit Card Against FD

The Odisha Gramya Bank credit card on FD is designed to help customers access credit conveniently while keeping their fixed deposit intact. The key features include:

• Improve credit score: Timely repayments on the card may support gradual credit profile improvement.
• FD Interest Accrual: Interest continues to accrue at prevailing bank FD interest rates.
• Seamless Documentation: Minimal documentation is required for a credit card against an FD.
• Suitable for First Time Credit Users: Assist new or first-time credit users or financially non-documented customers to access this card service.
• No income proof required: Available against an FD without salary or income documents.

Pros and Cons of Odisha Gramya Bank Credit Card Against FD

Odisha Gramya Bank offers a credit card secured by FDs, but it is important to look at its pros and cons carefully, like any other financial service.

Application Process for Odisha Gramya Bank Credit Card Against FD

You can apply for the Odisha Gramya Bank Credit Card against an FD conveniently through the bank’s online or offline application process:

Online Application Steps

The Odisha Gramya Bank Credit Card against Fixed Deposit can be applied online and offline. Below is a step-by-step guide for each process:

• Visit the Official Website: Go to Odisha Gramya Bank's official website.
• Navigate to the Deposit Section: Locate the deposit area, then choose "Credit Card against FD."
• Open or Link a Fixed Deposit: In accordance with the rules and conditions of the bank, open a new FD or link the current one.
• Fill Out the Application Form: Fill out the credit card application by providing the required information.
• Upload Required Documents: Upload the scanned copies of your address proof, identity proof, and PAN.
• Card Verification: Following verification, the credit card is authorised, processed, and delivered to your address on file.

Offline Application Process

Applicants who prefer visiting the branch can follow these steps for an offline application:

• Visit the Nearest Branch: Visit the nearest Odisha Gramya Bank branch.
• Application Form: Request an application form for a credit card against the FD.
• Link Deposit Account: Create an FD account of the minimum required deposit, if not done previously.
• Document Submission: Submit the filled form, the KYC documents, and the FD receipt.
• Bank Verification: After the bank has confirmed the details you provided, the card will be issued.
• Card Issuance: Once verified, the credit card is approved and delivered to your address within a few working days.

Closure Process for Odisha Gramya Bank Card Against FD

You can close the credit card linked to a fixed deposit by following these simple steps:

• Settle All the Dues: Clear all outstanding amounts on the credit card before initiating the closure process.
• Submission Request: Submit your closure request at the branch or via the official channels.
• Lien Release: After examining and processing the request, the bank releases the FD's lien.
• Recovery of Unpaid Dues: The bank can recoup any outstanding balances from the fixed deposit.
• Closure: After the closing, the FD regains its full liquidity and proceeds as usual until maturity.

Note: Lien release and FD status depend on the settlement of dues and bank policy.

Who Should Consider an Odisha Gramya Bank Credit Card Against FD?

An Odisha Gramya Bank credit card against FD can be considered by those who prefer a secured credit option backed by their fixed deposit. The facility is generally suitable for the following groups:

• Students: Students without income proof can start building a credit score.
• Homemakers and Retired Individuals: Homemakers or retired persons seeking credit services.
• New-to-Credit: First-time users who may not qualify for an unsecured credit card can still access this card with an FD in the bank.

Key Takeaways

Odisha Gramya Bank Credit Card against FD offers a credit card facility by keeping a fixed deposit as collateral. The FD continues to earn interest while remaining lien-marked and cannot be withdrawn during the card’s tenure. A credit limit of up to 90% of the FD value is available to users. It is a good choice for beginning credit users, students, and homemakers who want to establish their credit profile, because it doesn't require proof of income or a high credit score.