What is an FD credit card?

An FD credit card is a secured credit card issued against a Fixed Deposit (FD) that serves as collateral. It is ideal for individuals with no credit history or low credit scores. Key features include:

• The credit limit is typically 75% to 90% of the pledged FD amount.
• The fixed deposit continues to earn interest as per the bank's applicable rates.
• Timely repayments help in building or improving your credit score.
• Failure to clear dues allows the bank to recover the outstanding balance from your FD.