Indian Bank secured credit cards can be especially beneficial for individuals having no or very low credit scores. These cards not only help to build or improve credit scores, the pledged Indian Bank FD continues to earn the interest for the card holder.
Indian Bank Credit Card Against FD Highlights |
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Rupay Classic Card | Rupay Platinum Card | Rupay – Select Card | |
Joining Fees | NIL | NIL | NIL |
Annual Fees# | 1st year NIL; 2nd year onwards – Rs 250 | 1st year NIL; 2nd year onwards – Rs 250 | 1st year NIL; 2nd year onwards – Rs 250 |
Credit Limit (as a % of the FD principal amount) | Up to 90% | Up to 90% | Up to 90% |
Cash Limit | 25% of the credit limit | 40% of the credit limit | 40% of the credit limit |
Revolving Credit Limit | Rs.10,000 to Rs 25,000 | Above Rs.25,00 to Rs.1.99 lakhs | Rs 2 lakhs & above |
Airport Lounge Access | Not Available | Available | Available |
#Annual fee is waived if the card transactions in the previous year exceed Rs 50,000.
Features & Benefits of Indian Bank Rupay – Classic Card (Issued Against FD)
- Joining Fee: Nil
- Annual Fee: NIL for the 1st year. From 2nd year onwards, Rs 250 is charged (Conditional waiver – if the card transactions in the previous year exceed Rs 50,000)
- Revolving Credit Limit: Rs.10,000 to Rs 25,000
- EMI Facility: Available
- Add On Card: Up to 4 cards
- Cash Limit: 25% of the credit limit
- Airport Lounge Access: No Lounge Access facility is available
- Interest Rate (ROI): 1.99% per month
- Minimum Monthly Payment: 5% of the outstanding balance
Features & Benefits of Indian Bank Rupay – Platinum Card (Issued Against FD)
- Joining Fee: Nil
- Annual Fee: NIL for the 1st year. From 2nd year onwards, Rs 250 is charged (Conditional waiver – if the card transactions in the previous year exceed Rs 50,000)
- Reward Points: 1 point valued at Re.1 for every Rs.100 spent.
- Revolving Credit Limit: Above Rs.25,00 to Rs.1.99 lakhs
- EMI Facility: Available
- Airport Lounge Access: Available
- Add On Card-Up to 4 cards.
- Cash Limit: 40% of credit limit
- Interest Rate (ROI): 1.66% per month
- Minimum Monthly Payment: 5% of the outstanding balance
Features & Benefits of Indian Bank Rupay Select Card (Issued Against FD)
- Joining Fee: Nil
- Annual Fee: NIL for the 1st year. From 2nd year onwards, Rs 250 is charged (Conditional waiver – if the card transactions in the previous year exceed Rs 50,000)
- Revolving Credit Limit: Rs 2 lakhs & above
- Interest Rate (ROI): 1.66% per month.
- EMI Facility: Available
- Add On Card – Up to 4 cards.
- Cash Limit: 40% of the credit limit.
- Airport Lounge Access: Available
- Minimum Monthly Payment: 5% of the outstanding balance.
- Reward Points: 1 point valued at Re.1 for every Rs 100 spent.
Fees & Charges of Indian Bank Secured Credit Cards
Particulars |
Charges |
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Rupay Classic Card | Rupay Platinum Card | Rupay Select Card | |
Purchase Transactions | 1.99% p.m. (23.88% p.a.) | 1.66% p.m. (19.92% p.a.) | 1.66% p.m. (19.92% p.a.) |
Cash Advance Charges | 1.99% p.a. | 2.25% p.m. | 2.25% p.m. |
Cash Advance Fee | Rs 25 | Rs 50 | Rs 50 |
Late Fee | Rs 50 | Rs 250 | Rs 250 |
Over Limit Fee | Rs 25 | Rs 50 | Rs 50 |
Limit Enhancement
Fee |
Rs 25 | Rs 100 | Rs 100 |
Cheque return
Charges/Invalid Cheque Fee |
Rs 50 | Rs 250 | Rs 250 |
Card Re-issue Fee | Rs 100 | Rs 250 | Rs 250 |
Foreign Currency
Transaction Fee |
NA | Conversion Mark up 3% | Conversion Mark up 3% |
Statement Retrieval
Fee |
Rs 50 per statement | Rs 100 per statement | Rs 100 per statement |
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Other Fees & Charges
Particulars | Charges |
Joining Fees | NIL |
Annual Fees | Rs 250 |
Surcharge | Petrol and all products/services offered at petrol pumps at Rs 10 or 2.5% of the transaction amount, whichever is higher. |
Railway tickets at Rs 10 or 1.80%, whichever is higher | |
Interest Free Credit Period | 15 days to 45 days, depending on the date of the transaction |
Finance Charges | 2.25% p.m. (27% p.a.) |
Cash withdrawal charges at Indian Bank ATM | NIL |
Cash withdrawal charges other than
Indian Bank ATM in India |
Rs 50 |
Cash withdrawal charges at any ATM at Abroad | Rs 250 (Not applicable to Rupay Classic) |
Drawl Usage Limits
Card Product | ATM Cash Limit | POS/E-Com Purchase Limit | Aggregate Limit |
Rupay Classic Card | 8,000 | 12,000 | 20,000 |
Rupay Platinum Card/Rupay Select Card | 50,000 | 1.5 lakhs | 2 lakhs |