In today’s world, a credit card is not just a financial tool—it’s a necessity. But what if your credit score is low, or you don’t have any credit history at all? Don’t worry! Axis Bank offers a smart solution: an FD-backed credit card, also known as a secured credit card. This card is linked to your fixed deposit (FD), and it helps you build or rebuild your credit score easily.
Let’s understand how to apply for an FD-backed credit card at Axis Bank in simple steps.
What is an FD-Backed Credit Card?
An FD-backed credit card is a credit card issued against a fixed deposit. Instead of checking your credit history, Axis Bank gives you a credit card based on the amount of your FD. The credit limit is usually between 80% to 85% of your FD amount.
This type of card is best for:
Students or young professionals with no credit history.
People who were rejected for a regular credit card.
Anyone who wants to improve their CIBIL score.
Benefits of an FD-Backed Credit Card
Before you apply, here are some great reasons to choose an FD-backed card:
No income proof required: You don’t need to show salary slips or bank statements.
Builds credit score: By using the card responsibly, you can improve your credit score.
Earn rewards: Just like a regular card, you can earn reward points on spending.
Low risk: Since the card is secured against your FD, the risk to the bank is low.
Easy approval: Even with low or no CIBIL score, you can get this card.
Types of FD-Backed Credit Cards from Axis Bank
Axis Bank offers the Insta Easy Credit Card, which is backed by your fixed deposit. It is available online and at branches.
Some key features:
Minimum FD amount: ₹20,000
No income documents required
Lifetime free card (no annual charges)
Credit limit: Up to 85% of your FD value
Accepted worldwide
Step-by-Step Guide to Apply
Here is a simple guide to apply for an FD-backed credit card from Axis Bank:
Step 1: Open a Fixed Deposit
You need to create a fixed deposit with Axis Bank. You can do this online through internet banking or by visiting a nearby branch.
Requirements:
Minimum FD amount of ₹20,000
FD tenure should be at least 180 days
KYC documents (PAN card, Aadhaar card, etc.)
Step 2: Apply for the Credit Card
Once your FD is created, you can apply for the Insta Easy Credit Card.
Online method:
- Log in to Axis Bank internet banking.
- Go to the “Cards” section.
- Select “Apply for Credit Card against FD.”
- Choose your FD and submit the application.
Offline method:
Visit the nearest Axis Bank branch.
Fill out the credit card application form.
Submit your FD details and KYC documents.
Step 3: Card Issuance and Activation
After submitting the form, Axis Bank will process your request. If all details are correct, your card will be approved and sent to your registered address within 7 to 10 working days.
Once you receive the card:
Call customer care or use internet banking to activate it.
Set your PIN and start using the card.
Important Tips to Use FD-Backed Card Wisely
Pay bills on time: This helps you build a good credit history.
Don’t spend more than 30-40% of your credit limit.
Track your expenses: Use Axis Bank mobile app or internet banking.
Convert to EMI: You can convert large spends into easy EMIs.
Final Thoughts
Getting a credit card backed by an FD is a great way to enjoy the benefits of a credit card without worrying about rejections or poor credit scores. Axis Bank’s Insta Easy Credit Card makes this process smooth and simple.
So if you are looking to build your credit history or just want a credit card without income proof, open an FD and apply today!
Have questions or need help applying? Visit your nearest Axis Bank branch or check the official Axis Bank website for more details.
