A credit card issued against a fixed deposit, with no income proof or credit history needed.
The bank issues a card with a limit of about 75% to 90% of a fixed deposit you open with it. The deposit keeps earning interest and is held as security until the card is closed.
Paid on time, a secured card builds a credit history, which helps you get an unsecured card or a loan later.
Short reads that explain how it works before you decide.
GuidesNo-Cost EMI: What It Really Costs You, With a Worked ExampleNo-cost EMI is not a trick, but it is rarely free. Here is where the money goes: the discount you give up, the processing fee, and GST on the interest, worked out on a Rs 30,000 phone.Read the guide →Automatically organise your spending, track expenses and understand where your money goes.
