FD-Backed Cards: Enhance Financial Flexibility

An FD-backed credit card uses a fixed deposit as collateral.

This helps people with little or no credit history get a card.

The bank holds your FD, allowing you to borrow money (typically 70-90% of your FD).

Your FD continues to earn interest, usually around 6-7% annually.

It's a way to build or rebuild credit.

If you miss payments, the bank can use your FD.

This helps combine savings with the ability to borrow.