Craving Plastic? How to Get a Credit Card Against Your FD in ICICI Bank (Without Breaking the Bank, Literally)
So, your wallet feels as empty as your fridge on a Monday morning, but you'd rather not raid your piggy bank (or that hidden cookie jar, no judgement here). Fear not, friend, for ICICI Bank offers a solution that's as sweet as a free dessert and convenient as your pajamas - a credit card against your Fixed Deposit (FD)!
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| How To Get Credit Card Against Fd In Icici |
But First, a Word From Our Sponsor (That's You!)
Before we dive in, a quick disclaimer: This is not financial advice. We're just here to guide you through the process with a dash of humor (and maybe a sprinkle of financial literacy). So, grab your favorite beverage, buckle up, and let's get this credit card party started!
The Lowdown on FDs and Credit Cards: A Match Made in (Financial) Heaven?
An FD, or Fixed Deposit, is basically like putting your money in a time capsule at the bank. You lock it away for a specific period, and in return, the bank rewards you with interest. A credit card, on the other hand, is like a magic wand (but with a bit more responsibility). It lets you spend money you don't currently have, but you gotta pay it back with interest later.
Tip: Look for small cues in wording.
Now, here's the genius part: ICICI Bank allows you to use your existing FD as collateral to get a credit card. This means the bank holds onto your FD like a security deposit, and in return, grants you a credit limit based on a percentage of your FD amount.
Think of it like this: You're basically borrowing against your own money, but with the added benefit of building your credit score if you use the card responsibly.
QuickTip: Focus on what feels most relevant.
So, You Want an FD Credit Card? Buckle Up, Buttercup!
Here's what you need to know:
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- Minimum FD amount: This varies depending on the card you choose, but it usually starts around ₹30,000.
- Minimum FD tenure: Your FD needs to be locked in for at least 180 days (that's 6 months, for the mathematically challenged).
- Credit limit: You'll typically get a credit limit of around 90% of your FD amount. So, if your FD is ₹1 lakh, your credit limit could be around ₹90,000.
Two ICICI FD Credit Card Options to Choose From:
- Coral Credit Card: This card is a good option for first-time credit card users or those who don't need a ton of features. It offers basic benefits like reward points on your purchases.
- Rubyx Credit Card: This card is for the high rollers (or at least those with a bigger FD). It comes with more premium benefits like airport lounge access and travel insurance.
How to Apply: It's Easier Than You Think!
There are two ways to apply:
QuickTip: Ask yourself what the author is trying to say.
- Head to your nearest ICICI Bank branch: They'll walk you through the process and help you choose the right card for your needs.
- Go online: If you're feeling tech-savvy, you can apply through ICICI Bank's internet banking or mobile app.
Remember: Don't forget to bring your ID proof and a copy of your FD when applying.
A Few Final Words (and a Gentle Reminder)
Getting a credit card against your FD can be a great way to access additional funds without breaking the bank (literally). However, it's important to use your card responsibly and pay your bills on time. Remember, with great credit card power comes great responsibility (we all know how Uncle Ben feels).
Tip: Don’t overthink — just keep reading.
So, there you have it! Now you're armed with the knowledge to get a credit card against your FD in ICICI Bank. Go forth, conquer your financial goals, and don't forget to have some fun along the way (responsibly, of course)!
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