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7 Credit Cards Against Fixed Deposit

Credit Cards

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July 5, 2018

Credit Cards against fixed deposit is a very good option for people with bad credit history or limited income. People with bad credit history or low credit score struggles a lot to get a credit card. They can opt for Credit Card against a fixed deposit. These type of credit cards are also known as a secured credit card. Secured credit cards are backed by fixed deposit. If card user defaults in paying credit dues bank will use fixed deposit amount to repay dues. The interest applicable to these type of cards is low compared to normal credit card.

If you are planning to apply for credit card against a fixed deposit. Here is a list of 7 credit cards against a fixed deposit.

credit card fixed deposit

Credit Cards Against Fixed Deposit

A credit card against a fixed deposit is a secured credit card, meaning it is issued against the collateral of an FD. If you default on payments, the bank can recover the amount from your deposit. This makes it a great option for individuals with low or no credit scores.

Why Choose a Credit Card Against FD?

Easy Approval – No credit history or income proof required.
Lower Risk – Your FD acts as the security.
Credit Score Improvement – Timely payments boost your creditworthiness.
Attractive Benefits – Reward points, cashback, and offers similar to regular credit cards.

7 Credit Cards against Fixed Deposit

1. SBI Advantage Plus Credit Card

Features:

Issued against a minimum FD of ₹25,000.
Credit limit of up to 85% of the FD value.
Interest-free credit period of up to 50 days.
Reward points on every transaction.

Why Choose It? Great for frequent shoppers looking for reward points and extended interest-free periods.

2. ICICI Bank Coral Credit Card Against FD

Features:

Requires a minimum FD of ₹20,000.
2 reward points on every ₹100 spent.
Discounts on dining and movie tickets.
Complimentary airport lounge access.

Why Choose It? Perfect for those who enjoy dining out and entertainment perks.

3. HDFC Bank MoneyBack Credit Card Against FD

Features:

Minimum FD required: ₹50,000.
2X reward points on online spending.
Fuel surcharge waiver.
Contactless payment support.

Why Choose It? Ideal for online shoppers who want to earn extra reward points on their purchases.

4. Axis Bank Insta Easy Credit Card

Features:

Get up to 80% of FD value as credit limit.
Minimum FD of ₹20,000 required.
No income proof needed.
Flexible EMI options on big purchases.

Why Choose It? Best for individuals looking for flexibility in repayments and easy approval.

5. Kotak 811 Secure Credit Card

Features:

Get a card against an FD of just ₹10,000.
No joining or annual fee.
Attractive cashback offers.
1 reward point per ₹100 spent.

Why Choose It? Best for beginners who want a no-frills, no-fee credit card to start their credit journey.

6. Bank of Baroda Assure Credit Card

Features:

Requires a minimum FD of ₹15,000.
1% fuel surcharge waiver.
Lifetime free credit card.
High credit limit of up to 100% of FD value.

Why Choose It? A great option if you want a lifetime free credit card with high credit limits.

7. IDFC FIRST WOW Credit Card

Features:

Get a card against an FD of ₹10,000.
Lifetime free card.
Earn reward points on every spend.
Zero forex markup fees.

Why Choose It? Best for international travelers looking for zero forex charges and global acceptance.

Benefits of Credit card against fixed deposit

Instant approval, fewer documents are required to avail this credit card.
No income proof is required to avail of this credit card.
You will surely get a credit card irrespective of your credit history.
Low-interest rate compared to normal credit card options.
Fixed deposit interest payment will continue irrespective of credit card usage.
It is a win-win product for the bank and the end user.

Drawbacks of Credit card against fixed deposit

It is a card offered against your fixed deposit savings.
You cannot close your FD unless you clear the credit card dues.
Overuse of credit cards and not paying on time will destroy your savings.

How to Apply for a Credit Card Against FD?

Applying for a secured credit card is super easy! Just follow these steps:

Choose a bank – Select a bank that offers the best benefits.
Open an FD – Deposit the required minimum amount in a fixed deposit.
Apply for the card – Submit your application online or at a branch.
Receive your card – Once approved, you’ll get your credit card in a few days.

Things to Keep in Mind Before Applying

1. Interest Rates & Fees

Even though these cards are secured, they still have interest rates on unpaid balances. Always check the terms before applying.

2. Credit Limit

Your credit limit depends on the FD value, usually ranging from 75% to 100% of the deposit.

3. Payment Discipline

Late payments can still impact your credit score. Ensure you clear your dues on time.

4. FD Lock-in Period

Most banks lock your FD for the card’s tenure, meaning you won’t be able to withdraw it prematurely.

Getting a credit card against a fixed deposit is a fantastic way to build or improve your credit score while enjoying the perks of a regular credit card. It’s a win-win situation—you earn interest on your FD while using your card responsibly to gain financial credibility. If you’re new to credit or have faced rejection due to a low score, this could be your best route to financial empowerment!

Remember – Credit cards can be a great tool if used wisely. Make sure to pay your dues on time.

FAQs

1. Can I withdraw my FD if I have a secured credit card?

No, your FD is usually locked until you close your credit card or pay off all dues.

2. What happens if I default on my secured credit card?

The bank will deduct the outstanding amount from your FD, and it may impact your credit score.

3. Do secured credit cards offer the same benefits as regular cards?

Yes! You get cashback, reward points, and other perks, similar to unsecured credit cards.

4. Is there an age limit to apply for a credit card against FD?

Most banks require applicants to be at least 18 years old.

5. Can I upgrade to an unsecured credit card later?

Yes! Many banks offer an upgrade to an unsecured card if you maintain a good repayment history.

6. Can I get a credit card against FD with zero credit score?

Yes, that’s the beauty of it. Since your FD secures the card, banks don’t need a credit score to approve you.

7. How soon will I get the card after applying?

Usually within 7–10 working days, sometimes faster if you apply digitally with pre-approved FDs.

8. Can I earn rewards like a regular credit card?

Absolutely! Many of these cards offer cashback, points, fuel waivers, and even lounge access.

9. What if I already have a credit card?

You can still apply for a secured card — it won’t hurt. In fact, it might improve your credit utilization ratio.

10. Can I convert large spends into EMI?

Yes, most secured credit cards allow EMI conversion for purchases over a certain amount. It’s perfect for managing big expenses.

How to generate Aadhaar Virtual ID – Key Features Benefits

Personal Finance

Shitanshu Kapadia

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July 2, 2018

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Aadhaar Virtual ID

Aadhaar Virtual ID is an alternative to Aadhaar Number. It is a 16-digit code generated against Aadhaar Number. It is also known as VID. You must be thinking that what is a need of generating Aadhaar Virtual ID? Well, there are numbers of cases where claims of Aadhaar data leakage is made. The leaked Aadhaar data can be misused in doing fraud transactions. In order to prevent that UIDAI has launched facility of virtual ID. It is advisable to share VID instead of Aadhaar Number. Agencies can perform Aadhaar authentication by using VID without retrieval of Aadhaar number. This eliminates the need for sharing Aadhaar number and thus Aadhaar information will remain safe from being hacked.

After taking a look at the need of generating Aadhaar Virtual ID. Let’s take a look at key features benefits and process of generating Aadhaar Virtual ID.

Also Read – How to Download Aadhaar Update History from UIDAI website?

Key Features of Aadhaar Virtual ID

The virtual ID is a temporary 16-digit code that replaces Aadhaar for authentication.
Only one virtual ID shall be issued at a time. Once you create new VID, the old one will be flushed out.
Although VID is linked with Aadhaar, one cannot retrieve Aadhaar Number using virtual ID.
It is not mandatory to generate Aadhaar VID. One can use Aadhaar Number also.
The generated VID will be sent to the registered mobile number.
Consent of user is required for authentication using VID.
Agency is not authorized to store VID or any other information about Aadhaar.
One can generate virtual ID number of times, there is no restriction.

Benefits of Aadhaar Virtual ID

Access to only required data which is essential for authentication.
Peace of mind that Aadhaar data is secured.
It is easy to generate Virtual ID from UIDAI website. It can be generated anytime, anywhere.
Once new ID is generated old ID is flushed out.
It makes the work a little simpler for the organizations for the KYC purpose.

Also Read – How to Link Aadhaar with Mutual Funds Online?

How to generate Aadhaar Virtual ID?

The process of generating Virtual ID is very simple. It can be generated anytime by visiting UIDAI website. In order to use this facility, you need to link your Mobile number with Aadhaar. If you have not linked your Mobile with Aadhaar you will not able to use this facility. Virtual ID generated from UIDAI website will be sent to registered mobile number as SMS.

The process for generating and retrieving a virtual ID is same. To generate the Aadhaar virtual ID, you can follow steps given below.

Step 1 – Visit UIDIA website at https://uidia.gov.in

Step 2 – Click on Virtual ID (VID) generator link available under Aadhaar Services.

Virtual ID Generator

Step 3 – You will be taken to new VID generation page.

Step 4 – Enter 12 Digit Aadhaar Number and security code.

Step 5 – Click on Send OTP button.

Step 6 – An OTP will be sent to your mobile number registered with Aadhaar Number.

Aadhaar Virtual ID

Step 7 – Enter OTP and select option “Generate VID” or “Retrieve VID”. After selecting option click on submit button. A success message will be displayed on screen about the generation of VID.

Step 8 – You will get SMS on your registered mobile number mentioning 16-digit Virtual ID along with last four digits of Aadhaar.

Takeaway

It is wonderful facility launched by UIDIA to eliminate sharing of Aadhaar. VID will surely help in securing Aadhaar data. It is highly recommended to use this facility.

Please feel free to share your recommendation and experience in the comment section.

Buying a Health Insurance – 15 Key Factors to Consider

Health Insurance

Shitanshu Kapadia

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June 26, 2018

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health insurance

Let’s assume you are buying a health insurance policy for yourself and your family. Obviously, you would like to select “Best health insurance policy” available in the market. But, how you will zero down to best health insurance policy? There are multiple health insurance companies which offer several options and choices. Jargons dealing with health insurance policies are confusing. If you are not careful in making a sensible choice you may end up putting your and your’ s family health at risk. In order to help you Here are 15 Key Factors to consider while buying a Health Insurance.

Buying a Health Insurance – 15 Key Factors to Consider

Claim Process

A claim process and time required for settlement plays a vital role while selecting health insurance policy. A process of claiming should be simpler. It should offer cashless benefit. A good customer support is an additional advantage you should look for.

Waiting Period

The waiting period is a time you have to wait before you can apply claim for the pre-existing disease. All health insurances have a waiting period regardless of brand. The waiting period varies from policy to policy. You should confirm with a provider about wait period. This will ease out when you want to raise a claim for a pre-existing disease.

Also Read – Best Health Insurance Plans in India

Lifetime Renewal

Lifetime renewal is another important factor to consider while buying a health insurance. There are many insurance policies where renewability is limited only up to 60-70 years. One should give higher weight to a policy which offers lifetime renewal facility. It is known fact that requirement of health insurance is higher in the old age, so it is better to purchase health insurance with lifetime renewal in the young age.

Room Rent Cap

Another crucial factor for the consideration is room rent charges. In case of hospitalization, it is obvious that you will be opting for a room at the hospital. A facility included in the room is charged.

It is recommended to select a policy which allows higher room amount. If a policy is purchased with some limited amount you need to pay the additional amount from your pocket.

Claim Ratio

A claim settlement ratio is another important factor for the consideration. There are several examples where an insurance claim is delayed or rejected by the insurance company. In order to avoid such situation, it is better to do a background research and study about IRDA claim settlement ratio. A higher claim settlement ratio helps you to build trust in the insurance company. It also gives comfort that you will not have any issue in settlement of the claim.

Network Hospitals

One should go through the detail of associated cashless hospital network while purchasing a health insurance. At the time of medical emergency cashless option plays a vital role as claim settlement take place directly with the insurer.

Maternity Benefits

Very few medical insurance policies offer whole maternity benefits. If you are recently married or expecting a child in future, you should check for available maternity benefit with the insurance policy. A cost of pregnancy is increasing maternity benefit provide help to withstand the cost.

Sub Limit

Sub Limit is a monetary cap that insurer places on health insurance claim. Sub Limits are applicable to hospital room rent, doctor’s consultant charges, ambulance charges and other medical procedure. The applicable sub-limit should be higher or health insurance should be without sub-limit.

Pre/Post Hospitalization

Another important factor to consider is pre and post hospitalization expenses. It is generally observed that medical treatment and medicine is required pre and post hospitalization. It is advisable to choose an insurance plan which covers pre/post hospitalization expenses.

Critical illness Coverage

Critical illness is diseases that can lead to permanent disability or death. Some examples of such diseases are cancer, kidney failure, paralysis, strokes etc. You need to make sure that these types of critical illness are covered in health insurance policy.

Sum Assured Restoration

Sum Assured Restoration is new services offered by many health insurance companies. If you have consumed entire sum assured within policy annual term, health insurer restores it for other disease or for another family member. If possible, opt for this feature. However, please note that premium for this facility is higher.

OPD Expense

OPD Expense coverage is another factor. If your OPD expense is high, you should consider this feature while buying a health insurance. OPD expense means expense incurred for doctor’s fees, consultation charges, cost of medicine etc. You don’t need to be hospitalized to make this claim.

Also Read – Health Insurance Plans for NRI in India

Dental Treatment

A treatment of dentist is expensive in nature. Your health plan should give complete coverage including dental treatment cover.

No Claim Bonus

If you don’t file a claim for the longer duration, you will be eligible for No Claim Bonus. The bonus could be in terms of reduction in the premium amount or increase in coverage. You can consider this feature while evaluating health insurance.

Individual or Family Floater

The last factor for consideration is to opt for Individual or family floater plan. A family floater plan covers more than one family member for fixed cover. The entire coverage amount is shared by a family for the specific year. It is less expensive policy and suitable for younger family with less health risk. If your health risk is higher you will need individual health cover.

I hope 15 factors mentioned above will help you in selecting best health insurance policy.

If you have any queries about a selection of health insurance, please post it into the comment section.

40 Online Business Ideas with low cost

Business Ideas

Shitanshu Kapadia

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June 24, 2018

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It is easy to start an online business nowadays. You just need few technical skills and internet connection which is available at a cost of peanuts. There are so many opportunities available for starting an online business. Here are 40 Online Business Ideas that you can start right away with a click of a button. These online business ideas do not require big investment even you don’t need an exclusive office to start with.

online business ideas

40 Online Business Ideas

Blogger

A first online business idea is blogging. Blogging means sharing useful content to the reader online on a website. You can select your own niche and start blogging. You can make money via advertising, affiliate marketing, info products and via other avenues.

eBook Author

If you love writing you can think of writing book and publishing it online. You can either publish an ebook at your blog or you can get it published to an online platform like amazon.

Virtual Assistant

A requirement of a personal assistant is now fulfilled by Virtual Assistant. You can offer your services of virtual assistant online. There are many websites that post requirement of virtual assistant online. As a virtual assistant, you just need to complete basic work of personal assistant online.

Also Read – 40 Small Business Ideas with Low Investment

Social Media Manager

Social Media Manager is a person that manages social accounts of leading brands. Social media manager moderate and create content such as video, image and other marketing material for social media. A good social media manager are always in demand.

Social Media Consultant

Another online business is a social media consultant. A social media consultant is expert that helps clients online instead of actually managing the account of the client.

Social Media Influencer

A social media influencer is a user on social media who had established credential in a specific industry. He/she carries a lot of followers online. He/she can influence the business and increase sale of product and services. If you have 5000+ social media follower you can think of becoming social media influencer.

Online Course Creator

Online course creation is another online business idea. If you have technical skills you can create an online course and sell them on your website, email list or YouTube.

Sell your own products

One of the simplest forms of online business is selling your own products. You can sell product either by making your own site or on facebook, twitter, and other social networking sites.

E-commerce Store

In line with the idea of selling own products, you can plan on starting your own e-commerce store. You need to make an investment in order to start your own e-commerce store.

Also Read – 150 Small Business Ideas in India with Low Investment

Business Coach

A business coach is a person that provides expert guidance about business. If you have the legal knowledge and business expertise you can become a business coach. You can become strategy execution consultant where you need to execute strategy designed by business coach or management. You can offer this services online via email or video chat or offline.

SEO Consultant

Search Engine Optimization is a specialized field. Many online companies opt for SEO services. If you are very good at Search Engine Optimization you can set up your own business for providing SEO Consultancy.

Affiliate Marketing

Affiliate marketing is a lucrative business option. In affiliate marketing, you need to become an affiliate of various online store to help them to sell their product. You will be paid commission on every sell.

YouTube Channel Partner Program

Become a YouTube channel partner and earn a lot of money. In order to do so, you need to shoot and upload a unique video on YouTube channel. After gaining popularity you need to apply for YouTube channel partner program. This program is for placing an advertisement in the video uploaded by you.

Podcaster

A podcaster is a person that creates an audio file similar to a radio broadcast. You can also start your own podcast and sell advertising or sponsorships online.

Customized product Store

If you can make a handmade customized product, you can set up your own online store of a handmade product. It is a very famous idea there are many stores like this which are selling customized products online.

Web designer

Next online business idea is web designer. If you have technical expertise in designing website and WordPress themes you can plan to start your own web design business online.

Also Read – 21 Online Business Ideas with low investment

Build Mobile Apps

The next business idea is building an app. In order to build the app, you should have technical knowledge about android programming. Once your app is ready you can place it online or on google play store. Earning from an app is possible by the making it paid product.

Graphic Designer

Another lucrative online business is a graphic designer. In this business, you need to design unique graphic for your client. It will be used for making an advertisement.

Domain Flipping

A Flipping domain is next online business idea. You can earn a handsome return by flipping domain online. However, you need to do research before buying a domain name. There are many online websites that provide a facility of domain flipping.

Freelance Writer

A demand of writer and content creators are growing. If you are good at writing you can offer your writing services to clients online.

Product Sell on Facebook

The next online business idea is selling product on Facebook. Facebook provides facility to make your own store or group online. Other like-minded people can become a member of this store or group and you can carry out marketing for product sell.

Create own Word Press Themes

A technical expert with knowledge of programming can create own WordPress theme. Once your themes are ready you can sell it online and earn a lot of money.

Create Word Press Plugin

The next online business idea is also related to WordPress. You can create WordPress plugins for achieving new functionality in the WordPress. This plugin can be sold to earn money online.

Sell Photos Online

A creative person with knowledge of clicking good photograph can think of starting a business related to photos. Unique photos are used for creating an advertisement. There are many websites ready to deal in photographs online such as photodune, istockphoto etc.

Online Travel Agent

Today lot of people prefer to book bus, train, air ticket online. So, starting online travel booking portal could be a profitable affair. You need to do tie up with bus, hotel and other travel operators.

Artificial Jewelry Website

Selling artificial jewelry is another lucrative business option. You need very low capital in order to start this business. However, managing logistics is a difficult task.

Also Read – 30 Manufacturing Business Ideas with Low Investment

Hosting Paid Webinars

A highly skilled person with extraordinary skill can host a web-based seminar, presentation or video. It requires unique skills to build and host a webinar. To host webinar you should be an owner of the website which is well known, with good traffic ranking.

Online book library

The next online business idea is online book library. In order to establish this business, you need to do investment as you need various books. You can keep subscription amount or membership fees along with a deposit for online book library.

Online Food Delivery

One of the unique online business is food delivery. In this business, you can partner with hotels and fast food center. Delivery of food on time is key to success in this business.

Online Tutor

Education is an evergreen field. If you have the skillset to teach students you can start your own online business or online teaching. You can do this either by making a video or conducting one to one training. This is a unique way of generating online income.

Online Advertisement Creator

The online advertisement has a huge market. Good Advertisement creators are always in demand. If you can offer your advertisement services to a business you can earn a lot of money.

Virtual Tech Support

Unlike virtual technical assistant, another option is virtual tech support. It is a profession where you need to support individual or business in solving technical problems. You can earn a lot of money via virtual tech support.

Online Customer Support

Online customer support is somewhat related to virtual tech support. However, in online customer support, you need to solve administrative and product related query of the customer.

Chatbot Maker

Making chatbot is another lucrative business option. Every website is now making chat bot for automatic response. If you are technically sound you can start own chatbot making business.

Press Release Writing

A press release is used to inform public about news, product, and services. If you have good writing skills you can become press release writer.

Proofreader

A proofreader is a knowledgeable person about language, grammar, and spelling. A proofreader is an author that act as editor for a client who wants to send work online.

Resume Writer

Resume writer is a person that helps writing a resume to the client. Apart from that, you can also help a client in writing cover letters.

Website Maintenance

Website maintenance is another lucrative online business idea. In this business, you need to manage and maintain websites of the client. You can charge fix yearly cost for this work.

Video Ad Creator

There are two types of video ADs. First is Video advertisement and second is text or image ad appearing on the video. If you are expert in creating an ad you can earn a lot of money.

Financial Consultant

A financial consultant is a person that helps clients in making a right investment decision. If you have knowledge about finance you can become a certified financial advisor and provide service online.