Products
Personal Loans Business Loan Gold Credit CardsResources
EMI Calculator IFSC Code Blogs FAQsSecured Credit Cards
A Secured credit card is backed by collateral. It is a must for the customer to share collateral with the bank instead of getting approval for such types of a credit cards. In these types of credit cards, collateral is the fixed deposit
The secured credit card functions in same as unsecured credit cards. The only difference is that in the case of secured credit cards if the user defaults, the card issuer will recover the amount through his or her fixed deposit.
It is one of the best options for those who are willing to apply for a credit card with a bad credit score or those who are new to credit.
For whom it is the best option?
The top secured credit cards come with perks that encourage healthy credit habits. Here is the list of Best Secured Credit Cards!
1. Axis Bank Insta Easy Credit Card
The Axis Bank Insta Easy Credit Card is issued against the cardholder’s fixed deposit. This card comes with a flexible credit limit and is the best option for converting purchases to EMI.
Annual Fee- NIL
Fixed deposit Requirement- Minimum Rs 25000
Features of Axis Bank Insta EMI card
2. ICICI Bank Coral Credit Card
The ICICI Bank Coral Credit Card is one of the best credit cards for all those who are seeking benefits on lifestyle expenses. Customers can earn PAYBACK points and avail discounts on movies, dining, etc. Additional details are mentioned below.
Annual Fee: Rs 500
Fixed Deposit requirement- Rs 20,000
Main features of ICICI Bank Coral Credit Card
The SBI Unnati Credit Card is best for those who are looking for a secured credit card for everyday purchases. The unique features and benefits available in SBI Unnati Credit Card make it stand from another similar type of credit card.
Annual Fee: NIL for the first 4 years
Fixed Deposit amount requirement- Rs 25000
Features of SBI Unnati Credit Card
4. Kotak Bank Aqua Gold Credit Card
The Aqua Gold Credit Card from Kotak is an exclusive card designed to help you save money in the form of interest-free cash withdrawals, fuel surcharge waivers and the card comes free for life with no annual fees, which implies more savings. You can use up to 80% of the term deposit.
Annual fee- NIL
Minimum Fixed deposit requirement – Rs 25000
Features of Kotak Bank Aqua Gold Credit Card
5. ICICI Bank Insta Platinum Credit Card
ICICI Bank Instant Platinum Credit Card is suitable for those who need an instant and free credit card. A customer can build and repair his/her credit score with a secured credit card against a fixed deposit.
Annual Fee- NIL
Fixed Deposit requirement- Rs 20,000
Features of ICICI Bank Insta Platinum Credit Card
A secured credit card is a great tool for people with a low CIBIL score. It is useful when you want your spending under control.