HDFC Credit Card Against FD - Benefits & Eligibility

What is an HDFC Credit Card Against an FD?

An HDFC Credit Card Against FD is a secured credit card you can obtain by opening an HDFC Bank fixed deposit. You don't need a high income or a good credit score, which makes it a suitable option for students or first-time credit users. Or anyone building their 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 high HDFC Bank FD rates while the credit card stays active. By repaying your credit card bills on time, you can establish a strong credit history and build a healthy CIBIL Score, paving the way for better financial opportunities with a credit card against FD.

Benefits of Choosing an HDFC Credit Card Against FD

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

1. 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.

2. 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.

3. 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.

4. Earn As You Spend

   While your fixed deposit secures your credit line, it continues to grow based on the applicable FD rates. This allows you to enjoy the full credit card benefits without having to touch your underlying 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 credit card on FD?

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. The credit card against FD keeps earning interest as per the market FD rates, while you enjoy the ease and benefits of using a credit card.

Key Features of HDFC Secured Credit Card

The HDFC FD backed credit card 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.
• Building a Credit Score: Repaying pending dues on time helps establish a strong credit history and improve your CIBIL Score.
• 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.
• Financial Flexibility: It acts as a safety net, allowing you to manage emergencies or large purchases without needing to touch or liquidate your FD.

How to Apply for an HDFC Secured Credit Card?

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

• Open/Select FD: Open an FD with HDFC Bank for a minimum of ₹15,000, meeting the bank's minimum tenure requirements.
• Application Form: Get the credit card application form via NetBanking or by visiting your nearest HDFC Bank branch.
• Complete and Link Application: Fill out the details and link the FD you wish to use as collateral for the card.
• Submit Documents: Provide your valid ID proof, address proof, and the FD receipt/acknowledgement.
• Approval and Delivery: The bank will verify the details. Once approved, your new credit card will be issued and delivered to your registered address.