FD-backed Credit Cards for UPI Spends

Here are the top FD-backed credit cards offering benefits across multiple categories, including UPI transactions. Compare and choose the one that best fits your lifestyle.

1. SBM Bank Paisabazaar Paisa+ Credit Card

Min. FD: Rs. 2,000
Annual Fee: Rs. 499 + Applicable Taxes

Key Features & Benefits:

• 5% cashback on online spends for FD amount above Rs. 10,000
• 1% cashback on online spends for FD amount between Rs. 2,000 and Rs. 10,000
• 1% cashback on offline spends
• 1% cashback on UPI spends above Rs. 2,000
• Annual fee waiver on spending Rs. 50,000 in a year

SBM Paisabazaar Paisa+ is an entry-level credit card designed for consumers looking to start their credit journey with a low annual fee card. Backed by a low fixed deposit amount, it offers guaranteed approval along with up to 1.5% cashback on online and 1% cashback on offline, and UPI transactions. The card stands out for its cashback rate on online spends, and the added advantage of earning interest on the FD. Overall, it is best suited for beginners and consumers seeking a secured credit card with accelerated benefits on online shopping.

2. Tata Neu Infinity HDFC Credit Card

Min. FD: Rs. 15,000
Annual Fee: Rs. 1,499 + Applicable Taxes

Key Features & Benefits:

• 5% NeuCoins on non-EMI spends made via Tata Neu and partner Tata brands such as Air India, Westside, and others
• Additional 5% NeuCoins on transactions through the Tata Neu app or website after downloading the app and registering for Tata NeuPass
• 5% NeuCoins on non-Tata brand spends and all merchant EMI transactions
• 5% NeuCoins on UPI transactions via the RuPay card variant
• Low forex markup fee of 2%
• 2 complimentary domestic lounge visits per quarter on spending Rs. 50,000 in the previous quarter
• 4 complimentary international lounge visits every year
• Annual fee waiver on spending Rs. 3 Lakh in a year

Tata Neu Infinity HDFC FD Credit Card is a decent option for consumers who prefer to shop on Tata Neu and its partner brands and are looking to save on their spends. It offers accelerated value-back through NeuCoins, especially within the Tata ecosystem, along with rewards on UPI spends via its RuPay variant. The card also stands out with travel benefits like lounge access and a low forex markup fee, making it suitable for both everyday and travel spends. However, cardholders can redeem the accumulated rewards on spends at Tata Neu and its partner brands. Overall, it is best suited for Tata brand loyalists and those looking to build credit while availing benefits on everyday spends.

3. IDFC FIRST WOW! Black Credit Card

Min. FD: Rs. 20,000
Annual Fee: Rs. 750 + Applicable Taxes

Key Features & Benefits:

• Up to 50 bonus reward points for every Rs. 150 spent on travel bookings via IDFC FIRST Bank mobile app
• 4 reward points per Rs. 150 spent online and offline
• 3 reward points per Rs. 150 spent on UPI spends above Rs. 2,000
• 1 reward point per Rs. 150 spent on UPI spends below Rs. 2,000
• Zero forex markup fee
• 4 complimentary domestic airport lounge visits every year on a minimum monthly spend of Rs. 20,000
• 25% discount on movie tickets, up to Rs. 100 on the District by Zomato mobile app, once per month
• Annual fee waiver on spending Rs. 1.5 Lakh in a year

IDFC FIRST WOW! Black Credit Card is an all-rounder FD-backed option for consumers looking for a card with decent travel and lifestyle benefits. It stands out with strong travel-focused perks, such as zero forex markup fee and complimentary lounge access, making it suitable for frequent travellers. The card also offers dual benefits with a RuPay variant for UPI transactions, allowing cardholders to earn rewards on everyday spends. While it comes with a joining and annual fee, the overall value-back and welcome benefits can offset the overall fees. It is best suited for beginners who want a secured card with travel perks along with rewards on everyday UPI spends.

4. Utkarsh SuperMoney RuPay Credit Card

Min. FD: Rs. 500
Annual Fee: Nil

Key Features & Benefits:

• 5% cashback on Myntra for transactions above Rs. 100
• 2% cashback on Flipkart for transactions above Rs. 100
• 1% cashback on UPI transactions above Rs. 100
• 1% cashback on non-UPI transactions above Rs. 100

Utkarsh SuperMoney RuPay Credit Card is designed for beginners and first-time credit users. With a very low minimum FD requirement and no joining or annual fee, this card offers straightforward cashback on UPI transactions and popular platforms like Myntra and Flipkart, making it suitable for everyday spends. Overall, it is best suited for consumers seeking a simple, lifetime-free secured credit card with UPI-enabled benefits.

5. SBM ZET Credit Card

Min. FD: Rs. 2,000
Annual Fee: Nil

Key Features & Benefits:

• Up to 20% off on Swiggy, Swiggy Instamar & Zomato, twice a month
• Discount of Rs. 100 per month on BookMyShow
• 5% cashback on Amazon and Flipkart vouchers
• 2% cashback on UPI spends
• Up to 15% cashback on 80+ brands and platforms, like Dominos, PVR, Nykaa, Cleartrip, etc.

SBM ZET Credit Card is an FD-backed card designed for consumers with no or low credit history. With no joining or annual fee, the card offers decent benefits across dining, shopping, and travel categories. Cardholders can avail discounts on Swiggy and Zomato, along with cashback on popular brands like Dominos, PVR, Cleartrip, and more, which enhances the card’s value. Besides this, it also offers 2% cashback on UPI spends, making it the right fit for everyday UPI transactions. Overall, it is best suited for new to credit consumers looking to build credit while earning cashback on daily spends.

6. IDFC FIRST EARN Credit Card

Min. FD: Rs. 5,000
Annual Fee: Rs. 499 + Applicable Taxes

Key Features & Benefits:

• 1% cashback on UPI spends via IDFC FIRST Bank mobile app
• 5% cashback on spends via third-party UPI platforms
• 5% cashback on utility, insurance, and wallet loads
• 4% bonus cashback on flight bookings via ‘Travel and Shop’ section on IDFC FIRST Bank mobile app
• 8% bonus cashback on hotel bookings via ‘Travel and Shop’ section on IDFC FIRST Bank mobile app
• 25% off (Up to Rs. 100) on movie tickets via District by Zomato, once per month
• Annual fee waiver on annual spends of Rs. 1 Lakh

IDFC FIRST EARN Credit Card is primarily designed to offer benefits on UPI spends. However, consumers who prefer to use the IDFC FIRST Bank mobile app can maximize benefits, as it offers accelerated cashback on UPI spends via the app. Besides this, it also offers up to 8% bonus cashback on travel spends through the IDFC mobile app, making it a good fit for frequent travellers. However, the benefits are more rewarding when transactions are made through the IDFC FIRST Bank app, which may not be suitable for all consumers. Overall, it is a decent option for beginners seeking a secured card with cashback on both UPI and travel spends.

Easy Approval: Since the card is backed by a fixed deposit, approval is quick and hassle-free.

UPI Integration: You can link your RuPay credit card to UPI apps and pay directly via QR codes.

Build Credit Score: Timely repayments help you establish or improve your credit profile.

Rewards/Cashback on UPI Spends: You can earn cashback or reward points even on small, everyday transactions.

Choosing the right FD-backed credit card for UPI depends on your spending habits. Here are key factors to consider:

UPI Compatibility: Ensure the card is issued on the RuPay network for seamless UPI linking.

Value-back Structure: Look for cards offering cashback or rewards specifically on UPI spends.

Minimum FD Requirement: Compare the fixed deposit amount needed to get started and choose the one that suits your budget.

Interest Rate & Fees: Check annual fees, interest rates, and other charges carefully before applying for the card.

Additional Benefits: Look for cards offering additional perks like complimentary lounge access, milestone benefits, and more to maximize overall value.