Credit card against fixed diposit

POSTED BY Mustafa Karim ON September 2, 2013 11:50 am COMMENTS (3)

Hi friends i am here because recently i am feeling i need a credit card. I am a ph.D research scholar with a SRF fellowship whcih is near about 20,000 rupee per month. As i don’t have a permanet job so i think i can only be eligible for a credit card through a fixed dipposit in a bank. I currently have SBI and Axis bank account with a SBI fixed dipposit of 50,000. I am carefull with money and i will pay the credit amout in full in time so interest rate is not very important to me. I plane to use CC only when is needed like buying stuf from international vendor (google play, itunes, amazon etc where debit card are not accepted enen my axis bank visa card is not accepted)so in most case i will stick to my debit card. I have some question for you knowledgeable folks

1. Am i eligible for any credit card against a FD?

2. I am looking for some features like reward point, % discount in resturent, % discount in movie ticket in bookmyshow, % discount in petrol etc. So is it possible to get atleast some of these in my CC against a FD.

3. Obviusly i am not going to buy stuff or movie ticket everymonth so if i don’t use my CC for some month will i get fined?

4. Since i already have a FD with SBI so which will be a good card. Any suggestion?

5. Will i get full interest in my FD during the use of my CC?

6. If i need to break the FD in immergency then will i get fined or just i have to surrender the CC?


3 replies on this article “Credit card against fixed diposit”

  1. Dear Mustafa, SBI ‘ll offer you it’s normal card. No reason to worry.



  2. Dear Mustafa, let me try to answer your queries.

    1. yes, you are eligible.

    2. ICICI & HDFC are offering such rewards.

    3. No fine ‘ll be there.

    4. Please opt with SBI itself for ease of operation.

    5. Yes, FD ‘ll get regular interest. In case you default on your CC, bank may recover the amount from your FD.

    6. In this case, you first need to surrender the card & then only the linked Fd can be broken.



    1. Mustafa Karim says:

      Thank you for your reply. Can you suggest any SBI card depending on my preference.


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