Axis Bank FD Credit Card: Check Eligibility, Prepare Documents, Compare Other Cards

Efficient financial management is one of the most important tools to keep money secured and coming in regularly or during sudden emergencies. Knowing how to effectively manage one’s finances to keep the future life secure and free from monetary pressures and tensions is crucial. Axis Bank is one of the country’s leading financial entities, offering various tools to help manage people’s finances. One of its popular financial products is credit cards. However, not everyone can meet the high credit score requirement and other eligibility criteria to apply for a credit card. Axis Bank FD credit card comes into the picture here!

Credit Card

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    Professional Details

    Personal Details

    Individuals holding a fixed deposit at Axis Bank can use their fixed deposits as collateral or security to get a credit card. A regular credit card requires the account holder to have a stable monthly income, a good credit score, and other requirements. But for a secured credit card, all the account holder needs is a minimum fixed deposit with the bank. Another crucial aspect here is boosting the FD earnings. While the FD fetches your returns in the form of interest accumulation, the FD credit card allows you to utilise the primary amount in the form of credit as well. 

    Introduction to Axis Bank FD Credit Card

    The amount gathered in the Axis Bank FD becomes the credit limit for the secured credit card. It implies that the higher the amount in an account holder’s FD, the higher the credit limit acquired. The fixed deposit serves as a security deposit against the credit card. If the account holder fails to clear his dues on the credit card, the bank has all the right to break the account holder’s fixed deposit to secure the dues. However, this is done with an intimation of the process to the account holder through all possible communication channels.

    The Axis Bank Insta Easy Credit Card

    The Axis Bank Insta Easy Credit Card is provided by Axis Bank to account holders who wish to get a credit card against their fixed deposit. It is a chip and pin-enabled card which can be obtained over the counter, with minimal documentation and guaranteed approval.

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    Benefits and Features

    Enjoy the following benefits with the Axis Bank Insta Easy Credit Card!

    • Axis Bank offers a 50-day free credit along with high cash withdrawals and a flexible credit limit. 
    • Through the Axis Bank Insta Easy Credit Card, the customer can avail of up to 100% cash withdrawals of the account holder’s credit limit. 
    • A flexible credit limit of the customer’s choice with a limit of about 80% of the FD’s principal value is one of the highest credit limits against an FD in India.
    • The bank also provides a fuel surcharge waiver of up to 1%. It is valid only for transactions between Rs. 400 to Rs. 4000. The maximum benefits sum up to Rs.400 per month.
    • The bank levies No extra charges for up to 50 days on transactions only if there are no outstanding dues on the credit card account. 
    • The bank also offers a benefit named ‘Dining Delights’, offering a minimum of 15% off on the partner restaurant charges in India.
    • Access to the Visa International Global Card is rewarded, which can be availed for an extra fee.
    • The Axis Bank FD credit card is equipped with a unique Platinum chip which offers easy fraud detection and clear transactions. 
    • On any transaction above Rs. 2500, the bank can offer the account holder the option to convert the purchase into EMIs.

    Eligibility

    As with any other FD credit card, this Axis Bank FD credit card doesn’t have huge eligibility criteria. Nonetheless, ensure the following factors while applying for the card.

    • The account holder should be at least 19 years of age.
    • The FD should be only from Axis Bank.
    • The amount in the fixed deposit should at least be Rs. 20,000 and Rs. 25 Lakh at the highest.
    • Tax-saver FD, Flexi-Deposit or an FD in the name of any kind of institution account will not be applicable.
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    Documents Required

    Any kind of income proof, address proof or identity proof is not required to apply for the Axis Bank FD credit card. The existing KYC information of the account holder, which has been previously submitted to the bank, will be used to process the application.

    Note that you can apply for this Axis Bank FD credit card at the official website of Axis Bank or any of its physical branches.

    Other FD Credit Cards offered by Axis Bank

    Given below is the list of some other credit cards issued by the leading bank.

    • Flipkart Axis Bank Credit Card: The Flipkart Credit Card is best suited for expenses concurred while shopping. It has a joining and renewal fee (each of Rs. 500) with additional GST charges.
    • Axis Bank MY ZONE Credit Card: This card is most applicable for booking movie tickets. It provides a complimentary SonyLiv Premium membership as a welcome benefit.
    • Indian Oil Axis Bank Credit Card: This card is most suitable for shopping and buying fuel.

    Conclusion

    Fixed deposits are one of the low-risk and high-benefit investment tools available in the market. With the launch of FD credit cards, Axis Bank and many other banks in India have made investment and borrowing even easier and beneficial. 

    FAQs

    1. Are there any charges or taxes levied on the Axis Bank FD credit card?

    As per the guidelines given by the Ministry of Finance of the Government of India, a service tax at the rate of 14% is levied on the fees, finance charges and other charges on not only the Axis Bank FD credit cards but all types of credit cards which are issued in India.

    2. How much time does it take to get an Axis Bank credit card after approval?

    Once the bank approves the application, it takes about 21 business days to get any type of Axis Bank card. 

    3. Can minors apply for an Axis Bank FD credit card?

    No minors cannot apply for Axis Bank Insta Easy Credit Card. The account holder must be at least 19 years of age.

    4. Can I take the Insta Easy Credit Card against my FD at Axis Bank?

    Yes, you can apply for the Insta Easy Credit Card against your Axis Bank FD.

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