Best Secured Credit Cards in India
Last Updated : Dec. 7, 2024, 4:16 p.m.
A credit card is a really useful financial tool which gives you the purchasing power when you do not have money. But for people who are new to credit or do not have a credit score, it is difficult to get a credit card . A secured credit card is ideal for such people. This is because you can get it against a fixed deposit which acts as a collateral. So, when the user defaults on the bills, the credit card issuer will recover the money from the fixed deposit. Using the secured credit card, customers can build their credit and equip themselves for the privilege of obtaining a regular credit card. Let us now read about some of the best secured credit cards in India for 2025.
Top 12 Secured Credit Cards in India for 2025
The table below shows a list of some of the best secured credit cards in India:
Secured Credit Card | Annual/renewal Fee | Minimum FD amount required | Credit Limit | Key benefits |
|---|---|---|---|---|
SBI Card Unnati | Free for the first 4 years. Then, a fee of Rs. 499 is charged | Rs. 25,000 | You can get a credit limit of up to 90% of the fixed deposit amount. |
|
Axis Insta Easy Credit Card | Joining fee and annual fee are Nil | Rs. 20,000 | You can get a credit limit of up to 80% of the fixed deposit’s principal value |
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IDFC FIRST WOW! Credit Card | Joining fee of Rs. 199 and annual fee (From 2nd year onwards) of Rs. 199 | Rs. 20,000 (Rs. 25,000 for NRIs). | You can get a credit limit of minimum 100% of the deposit value |
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Kotak 811 #DreamDifferent Credit Card | Nil | Rs 5,555 (for customers with 811 saving accounts) Rs 10,000 (for customers with non 811 saving accounts) | You can get a credit limit of up to 90% of the fixed deposit’s value |
|
ICICI Bank Instant Platinum Credit Card | Nil | Rs. 50,000 | You can get a credit limit of up to 90% of the deposit’s value |
|
IDFC First Earn Credit Card | Rs. 499 | Rs. 499 | You can get a credit limit of up to 100% of the fixed deposit amount |
|
Magnet FD Backed Credit Card | Nil | Nil | Get 90% of your FD as credit limit |
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IDFC First WoW Credit Card | Nil | Nil | Get 100% of your FD as credit limit |
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OneCard Metal Credit Card | Nil | Nil | The credit limit is decided based upon various factors like your income, eligibility criteria, credit profile, and other factors. | You will earn reward points on every purchase using this card.
|
AU Nomo Credit Card | Rs. 199 | Rs. 199 | Get a credit limit of 90% of your fixed deposit. |
Terms and conditions: Transactions involving Fuel and cash are not counted in for calculating milestone benefits. ` |
Bank of Baroda Prime Credit Card | Nil | Nil | Get a credit limit of 80% of your fixed deposit |
spending Rs. 5000 within 60 days of issuing the card.
|
Best Secured Credit Cards in India - Other Features
SBI Card Unnati
This is one of the best secured credit cards in India. With 90% of the deposit amount provided as the credit limit and with other attractive features like cashback, milestone rewards, fuel surcharge waiver, etc., this card is a great one to have in your wallet and build your credit score .
Features:
- Get a fuel surcharge waiver of 1% for every transaction between Rs. 500 to Rs.. 3000 (Up to a maximum of Rs. 100 per statement cycle).
- Transfer the outstanding balance from the credit cards of other banks to SBI Card Unnati and avail a lower interest rate. Then, you can pay back as EMIs.
- The card gives an interest free credit period of 20 to 50 days on all purchases.
Axis Insta Easy Credit Card
This secured credit card comes with a host of features like interest free credit period up to 50 days, high cash withdrawal amounts, flexible reward points, it is one of the best secured credit cards in India to build your credit with.
Features:
Accrue 6 reward points on every domestic spend of Rs. 200.
Accumulate 12 reward points on every international spend of Rs. 200.
Earn 100 reward points on the first transaction you do online.
You can redeem your reward points against more than 500 items in the rewards catalogue.
Kotak 811 #DreamDifferent Credit Card
With this card, you can definitely dream different. This card has a great rewards structure and helps you earn rewards on each and every spend made online and offline. Other important benefits include waivers on fuel surcharge, railway ticket booking, complimentary movie tickets, etc. With a bevy of enticing perks, this card definitely tops the list of best secured credit cards in India.
Features:
Cash withdrawal up to 90% of your total credit limit is allowed.
Enjoy a 1% waiver on fuel surcharge for transactions between Rs. 500 and Rs. 3000 (With a maximum waiver of Rs. 3500 per year).
Get a surcharge waiver of 1.8% for transactions made on IRCTC.Co.in and 2.5% on Indian railway booking counters (The upper limit on surcharge waiver is Rs. 500 per year).
Get an interest free period of up to 48 days on cash advance.
Earn a cashback of Rs. 750 on exceeding spends of Rs. 75000 every year.
Get 4 complimentary PVR tickets and claim them within 3 months after the end of the anniversary year.
A processing fee of Rs. 100 will be charged for every instance of ATM withdrawal and funds transfer.
ICICI Bank Instant Platinum Credit Card
This lifetime free credit card is a safe one to have in your purse. It comes equipped with features for safe transacting like contactless technology, etc. It offers benefits across movies, rewards redemption etc. Due to its safety features, this is easily one of the best secured credit cards in India to help you build your credit.
Features:
The card comes with a low interest rate of just 2.49% per month.
Accumulated reward points can be redeemed against multiple categories like Fashion, lifestyle, electronics, travel, luggage, health and beauty, home, kitchen, and e-vouchers.
The card comes with built in contactless technology, which in turn ensures security of transactions.
IDFC First Earn Credit Card
The card is hugely popular due to its never expiring reward points. Additionally, the card is designed with perks such as global acceptance at millions of merchants, dining discounts, high cashback, etc. Without doubt, this is one of the best secured credit cards in India.
Features:
Get 5% cashback (Up a maximum of Rs. 1000) on the first EMI transaction done within 30 days of issuing the card.
Earn 100% cashback annually (Up to Rs. 200) on the first 4 UPI transactions done using the IDFC First Bank mobile app within 15 days of annual fee payment.
Enjoy a discount of 20% on 1500 plus restaurants.
Earn an interest rate of 7.25% on your FD.
This card can be used globally by more than 60 million merchants.
Enjoy a lost card liability cover for Rs. 25,000, complimentary roadside assistance worth Rs. 1,399, and a personal accident cover of up to Rs. 2 lakhs.
Magnet FD Backed Credit Card
Pay your credit card bills on time with this secured credit card and build your CIBIL score . The card comes with useful benefits like joining perks, Nil joining and annual fees, high rewards on purchases from top brands. So apply for this card, which is one amongst the list of best secured credit cards in India and reap the benefits.
Features:
Income proof is not required to get this card.
Lifetime free credit card
The FD is secured by RBI
IDFC First WoW Credit Card
As the name suggests, this credit card is just WoW! Attractive features like high interest rate on your fixed deposit, high cash withdrawal amounts, merchant offers, and dining discounts, this credit card should definitely be included in the list of the best secured credit cards in India.
Features:
Enjoy 100% cash withdrawal for up to 45 days.
Zero documentation required to get this card.
Enjoy hassle-free international travel with zero forex markup fee.
Avail offers from more than 300 plus merchants.
Enjoy interest free cash withdrawal of your FD (Up to 100%) for a maximum of 45 days.
Enjoy a 5% cashback (Up to Rs. 1000) on the first EMI paid within 30 days of card issuance.
Enjoy an interest rate of 7.25% on the bank’s FD.
Enjoy using the balance transfer facility and by using this card.
For offers provided by IDFC First Bank credit cards, check https://idfcfirstrewards.poshvine.com/
OneCard Metal Credit Card
This is India’s smartest metal credit card. It comes with easy approval. It is a co-branded card that is issued by BoB card, CSB Bank, and Federal Bank. It has no hidden fees or rewards redemption fees besides being lifetime free. Further, it gives you a high amount of rewards on the top 2 spend categories. With so many benefits in its kitty, this card is one of the best secured credit cards in India and also one of the best credit cards .
Features:
The card can be activated just in 5 minutes using a completely digital onboarding process.
The card can be issued as both a secured and unsecured credit card.
Zero documentation required
You can accumulate reward points on EMI transactions and repay EMIs with reward points
The credit limit can be shared with your family. They can have their own separate One Credit card and you can monitor and control their spends.
AU Nomo Credit Card
Make your lifestyle exciting with the AU Nomo credit card - One of the best secured credit cards in India. The card offers an array of benefits across various categories like airport and railway lounges, fuel surcharge waiver, Easy EMI conversion facility for transactions above 2000, and more. So why wait, apply for this instant credit card online and enhance your lifestyle.
Features:
Earn 2 reward points per Rs. 100 spent on retail purchases
Earn 1 reward point per Rs. 100 spent on utility and insurance transactions.
Terms and conditions:
Transactions related to cash, rent, education, government, EMI, fuel, BBPS, and Quasi cash are not eligible for reward points.
The maximum number of reward points that can be accumulated per transaction on utility and telecom spends is 100.
The forex markup fee on international transactions is only 0.99%
Get 2 complimentary domestic airport lounge access on reaching milestone spends of Rs. 30,000 in the previous quarter and
Get 2 complimentary railway lounge visits per quarter.
You can redeem the reward points accumulated for various perks like e-vouchers, mobile/DTH recharges, flight/hotel bookings, and merchandise.
Get a fuel surcharge waiver of more than 1% for transactions between Rs. 400 and Rs. 5000 at fuel stations across India (With a maximum of Rs. 100 per statement cycle).
Transactions of value equal to or more than Rs. 2000 can be converted into easy EMI options.
Bank of Baroda Prime Credit Card
This card is a great one issued by the second largest PSU bank in India. With its various perks and lifetime free perk, this card is a great one to possess.
Features :
Enjoy complimentary personal accidental death cover of Rs. 15 lakhs for air accidents and Rs. 5 lakhs for non air accidents.
You can redeem your accumulated reward points as cashback @ 1 reward point = Rs. 0.20.
Purchases equal to or above Rs. 2500 can be converted into smart EMIs of duration between 6 to 36 months.
Zero documentation required.
Benefits of Secured Credit Cards
The following are some benefits of a secured credit card:
Secured credit cards have an easy eligibility criteria. Secured credit card issuers do not need a credit score or a credit history.
Secured credit cards can help individuals to build a credit history or a credit score. But this means that they have to pay their bills on time and in full.
The approval rate of secured credit cards is higher as compared to unsecured credit cards since they are provided with an FD as collateral.
A secured credit card helps individuals earn interest on their fixed deposits.
Usually the credit limit for a secured credit card is equal to the fixed deposit amount or lower than that. However, if your credit behavior is positive, issuers will increase your credit limit and even upgrade your credit card to an unsecured one. When the card becomes unsecured, you will be able to get your deposit back.
Disadvantages of a Secured Credit Card
Before applying for a secured credit card, individuals should keep certain things in mind. They are as follows:
Secured credit cards may have a higher rate of interest since the borrowers are those with poor credit history and income. Hence, they may be considered highly risky. However, if you use a secured credit card for some time and pay your bills without defaulting and in full, then the card issuer will consider reducing the interest rate.
Secured credit cards have lower credit limits, usually equal to or lower than the fixed deposit amount. So, for a higher deposit amount, you will get a higher credit limit.
If you default on your bill payments, the card issuer will withdraw that amount from the FD. So, it is essential to be financially disciplined when using a secured credit card.
Frequently Asked Questions (FAQs)
