SBI Credit Card Against FD

Key Features and Benefits of SBI Secured FD Credit Card

• No Income Proof: No salary slips or prior credit score required for quick approval.
• Earn FD Interest: Your fixed deposit keeps earning regular SBI FD interest rates while locked.
• Low Fee Structure: Free annual fees for the first 4 years, then ₹499 plus taxes from the 5th year onward.
• Reward Points: Get 1 reward point for every ₹100 spent on regular purchases.
• Milestone Cashback: Enjoy a ₹500 cashback reward when you spend ₹50,000 in a year.
• Fuel Savings: Save with a 1% fuel surcharge waiver on purchases between ₹500 and ₹3,000.
• Add-on Cards: Apply for free secondary cards for your family members above 18 years of age.
• Global Acceptance: Use your card seamlessly at millions of merchant outlets worldwide.

SBI Unnati Credit Card

The most suitable option for a credit card against FD is the SBI Unnati Credit Card for several reasons. It helps you find a safe way to build or re-establish your credit score while offering strong features:

• Annual Fee: ₹499 + Taxes (for the 5th year)
• Minimum FD: ₹25,000
• Rewards: Earn 1 reward point for every ₹100 spent
• Cashback Benefit: Get ₹500 cashback if annual spends reach ₹50,000 or more
• Surcharge Benefits: 1% fuel surcharge waiver (up to ₹100/month) on spends between ₹500 and ₹3,000.

With zero annual fees for the first four years, this secured FD-backed credit card from SBI is particularly appealing to students, homemakers, or anyone starting their credit journey.

Fees & Charges: SBI Credit Card Against FD

The following are the fees and charges applicable to the SBI FD-backed credit card:

How to Apply for an SBI Credit Card on FDs?

Applying for an SBI credit card on an FD is straightforward:

• Open an FD with SBI of at least ₹25,000.
• Fill out the online application form for an SBI credit card on FD.
• Submit the necessary documents for verification.
• Wait for approval, typically taking around 15 working days.
• Receive your card at your doorstep.

With this quick process, you can swiftly begin leveraging your FD to manage your expenses smartly.

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

To avail an SBI credit card against a fixed deposit, you typically need to start an FD in your SBI savings account with amounts ranging between ₹25,000 and ₹50,000. This ensures you have a substantial spending limit while safeguarding your principal amount.

For example, depositing ₹25,000 could offer you a credit limit of approximately ₹18,750 to ₹22,500. It's an easy and secure way to manage your finances.

Who Should Apply for an SBI Credit Card Against FD?

If you have a fixed deposit in SBI, you are eligible to apply for an SBI FD-backed credit card. However, this card is more suitable for some people than others. You should consider applying for a secured credit card if –

• You’re finding it difficult to get approval for a regular credit card.
• You need quick approval for a credit card without lengthy documentation.
• You are a first-time credit card customer and have no credit history yet.
• You want to improve your credit score (CIBIL score).