About ICICI Bank Coral Credit Card Against Fixed Deposit
ICICI Bank Coral Credit Card Against Fixed Deposit gives you a unique mix of benefits cumulating the convenience of both, a credit card as well as a fixed deposit. This card functions a little differently than the rest. For availing the ICICI Bank Coral Credit Card Against Fixed Deposit, the applicant must have a fixed deposit with the bank of a minimum of ₹ 20,000, 85% of which will be marked as the credit card limit of the applicant. The fixed deposit is placed on an auto-renewal mode allowing the applicant to continue having the fixed deposit with the bank. The applicant will be allowed all the benefits of the ICICI Bank Coral Credit Card. And in case of the delay in repayment of credit card dues, the amount will be recovered from the fixed deposit of the applicant by the bank. This makes this card both unique and highly beneficial to use. Read on to know more about what this card has on offer!
Features of ICICI Bank Coral Credit Card Against Fixed Deposit
Some of the main features of ICICI Bank Coral Credit Card Against Fixed Deposit are listed below:
- Under unlimited cash rewards, you get to earn 2X cash rewards on dining, groceries and supermarket.
- Complimentary domestic airport lounge visit, courtesy Visa.
- On bookings made through Bookmyshow, get complimentary movie tickets under Buy 1 Get 1 offer.
- Under Culinary Treats Program, you get a minimum of 15% discount on your dining bills at over 2100 restaurants across the nation.
- On a total expenditure of ₹1,50,000 and above, the annual fee of the subsequent year would be waived-off.
Processing Fees & Additional Charges
Below are listed the charges and fee that the applicant would have to pay at the time of availing the card and subsequently on an annual basis:
- ICICI Bank charges a joining fee of ₹500 along with applicable Service Tax while giving you access to your ICICI Bank Coral Credit Card Against Fixed Deposit.
- There are no ICICI Bank Coral Credit Card Against Fixed Deposit annual charges for the subsequent years of membership.
- There is no supplementary card fee that is charged on this Credit Card.
- The bank charges an overdue interest on extended credit and cash advances of 3.40% on a monthly basis which cumulates to become 40.80% annually.
- Late Payment Charges: The card bearer would have to pay the late payment charges as follows
- ₹100, if the late amount due is between ₹100-₹500
- ₹500, if the late amount due is between ₹501- ₹10,000
- ₹750, if the late amount due is more than ₹10,000
- Over limit charges: ICICI bank charges 2.50% (a minimum of ₹500) on the over-limit amount if the card bearer exceeds the prescribed limit of the card.
Who can apply for ICICI Bank Coral Credit Card Against Fixed Deposit?
ICICI bank follows the below listed eligibility criteria:
- Age Limit: The age limit of the applicant must be between 18 years to 60 years.
- Fixed Deposit: The applicant must have a minimum fixed deposit of ₹20,000 with the bank so as to avail this card. Also, the fixed deposit should not be Linked/ Quantum/ 80C/ NRE/ NRO/ HFC or in the name of Third parties/ Partnership firms/ HUF/ Society/ Trust/ Companies or under an existing lien.
- Income Stability: The applicant must have a stable source of income so as to keep up with the process of repayment.
- Nationality: The applicant should have the nationality of India.
- Credit Score: The applicant must bear a good credit score and shouldn’t have a history of credit defaults.
Documentation Required for ICICI Bank Coral Credit Card Against Fixed Deposit
The documentation required to apply for the ICICI Bank Coral Credit Card Against Fixed Deposit are:
- Proof of Identity
- Proof of Address
- PAN Card
- ITR or salary slips for the last 2 months
- Passport sized photographs
Terms & Conditions
The terms and conditions for the ICICI Bank Coral Credit Card Against Fixed Deposit are as follows:
- Grace Period: The interest-free grace period permitted by the bank is from 18 to 48 days.
- Credit and Withdrawal Limit: The Credit and Withdrawal Limit is shared with the card-bearer at the time of hand-over of the card and would also be indicated in the monthly statements.
Customer Care Support 24X7 Number
ICICI Bank has a prompt and efficient Customer Care division to help out with the grievances and concerns of the customers. You can reach out the ICICI Customer Care by:
- Visiting the ‘Complaint Form’ on the official website of ICICI Bank
- Calling their Customer Care 24X7 Helpline on 1800-102-4242 between 9am to 6pm from Monday to Friday
- Writing to the Nodal Officer at the address mentioned on the official website of ICICI bank
PS- Do mention your Credit Card Number while getting in touch with ICICI Customer Care.