The credit cards issued against a fixed deposit, commonly known as secured credit cards, are an easy and often overlooked way to build or improve your CIBIL score. I used a credit card backed by a fixed deposit for about four years while I was in college, and it played a significant role in improving my credit history.
- Read: 7 Proven Ways to Increase your CIBIL Score to 800+
Unsecured credit cards and loans are difficult to obtain when your CIBIL score is below 750 because lenders lack sufficient data to assess your creditworthiness. Secured credit cards provide that initial track record. Using a secured card responsibly sends a clear signal to credit bureaus like CIBIL about how well you manage credit.
Regular, responsible use of a secured credit card builds a payment history and usage record that credit bureaus use to calculate your CIBIL score. A strong score then makes it easier to qualify for unsecured credit cards and loans in the future. Below are some popular FD-backed secured credit cards available in India that are suitable for beginners.
Best Secured Credit Cards in India (FD Based)
1. Axis Insta Easy Credit Card
The Axis Bank Insta Easy Credit Card was the first credit card I ever had. Axis Bank’s cards are straightforward to use and their customer support is responsive. Their Edge Loyalty rewards program has evolved over time; when I used the card I redeemed reward points for Flipkart vouchers and bought items with those rewards.
Axis Bank Insta Easy Credit Card on FD
Note about Axis Bank: Axis can be generous with the credit limit against an FD. One reader reported receiving a credit limit of 16 lakhs on a 20 lakh FD. Different banks set different limits, but typically the credit limit ranges around 70%–80% of the fixed deposit amount.
2. ICICI Instant Platinum Credit Card
ICICI is known for issuing instant credit cards at branches with minimal documentation. The ICICI Instant Platinum Credit Card is one I used extensively early on. At the time, frequent Payback promotions made it feel like a top rewards card. In hindsight, however, it became one of the less rewarding cards I used because reward values changed over time.
ICICI Instant Platinum Credit card issued against Fixed Deposit
I accumulated thousands of reward points over a few years and redeemed them for speakers, card holders and gifts for family members. If I had known more about maximizing credit card rewards back then, I could have saved or earned significantly more.
That said, this card is a solid choice for someone who primarily wants to build credit without a joining fee.
Practical tip: ICICI often increases credit limits quickly if you pay online or deposit additional funds into the card account. You can temporarily increase your limit by adding more to the account, which is useful for larger transactions.
3. SBI Credit Cards
I recently obtained what was the SBI Signature credit card (now positioned as SBI Elite) against a fixed deposit of 1.25 lakhs. It is a compelling premium option and allowed me to earn substantial rewards during its peak period. I still hold this card and have benefited from its reward and cashback offers in the past.
I initially chose this secured card because SBI credit card services were not available in my city at the time.
SBI Elite Credit Card
Practical tip: If you intend to use your card for larger annual spending — for example, several lakhs — consider SBI’s offerings. Their entertainment and BookMyShow-related benefits tend to be strong selling points for frequent moviegoers.
4. HDFC Credit Cards
HDFC also issues credit cards against fixed deposits and is one of the largest players in India’s credit card market, leading both in card volume and transaction amounts. Many HDFC cards, including premium options like HDFC Regalia, can be obtained against FD—Regalia often becomes available if you maintain an FD of around 4 lakhs or more.
HDFC Regalia Credit Card (also issued on FD)
HDFC often provides a wide range of secured card options, from basic to premium, allowing you to choose one that matches your spending and reward preferences.
5. IndusInd Credit Cards
IndusInd issues credit cards against FDs as well, but many of their cards carry high joining fees. One exception is the IndusInd Aura Credit Card, which can be issued on FD with a nominal joining fee that may be waived if you meet a specified spend threshold within the first few months.
Tip on building CIBIL: Using secured credit cards responsibly for two or more years can significantly improve your CIBIL score. Holding two or three secured cards can speed up the process, provided you manage payments, credit utilization, and due dates carefully.
There are other banks that issue credit cards against fixed deposits, but the five above are among the most common and reliable choices. If you have experience with secured credit cards, share your thoughts and tips—your insights can help others choose the right option for improving their credit history.