ICICI Bank is considered to be the 2nd largest bank in India, owing to its myriad financial services and associated benefits. You can now avail ICICI FD credit card to make transactions simple, secure and fast. This blog focuses on the exclusive features of the two different types of credit cards against fixed deposits offered by ICICI Bank. Keep reading to know more.
| Credit Card Types | ICICI Platinum Credit Card and ICICI Coral Visa Credit Card Against FD |
| Annual Fee | NIL charges in the case of ICICI Platinum Credit Card NIL charges for the first year. Post that, ₹500 + GST in case of ICICI Coral Visa Credit Card Against FD |
| Joining Fee | NIL charges for ICICI Platinum Credit Card ₹500 + GST for ICICI Coral Visa Credit Card Against FD |
| Minimum FD Amount | ₹50,000 in case of ICICI Platinum Credit Card ₹50,000 in case of ICICI Coral Visa Credit Card Against FD |
| Finance Charges | Monthly rate of 2.49% and annual rate of 29.88% in the case of ICICI Platinum Credit Card No limit specified in case of ICICI Coral Visa Credit Card Against FD |
You can apply for an ICICI FD credit card by following a few hassle-free steps and enjoy the benefits that it offers to cardholders.
How to Apply for ICICI FD Credit Card?
To unlock the benefits associated with ICICI bank credit card on fixed deposit, you can apply for them in two ways:
1. Online Application Process
Follow the steps below to apply for an ICICI Credit Card against Fixed Deposit online:
- Step 1: Visit the official website of ICICI Bank.
- Step 2: Move to the credit card against Fixed Deposit page.
- Step 3: Browse through the features of available cards to select the right one.
- Step 4: Once done, click on the “Apply Now” button present on the page of each card type.
- Step 5: Enter the required details accurately and upload the necessary documents.
- Step 6: Review the data and click on the “Submit” button.
You can also log in to your net banking account and apply for an ICICI FD credit card.
2. Offline Application Process
Here are the steps to follow for offline application of ICICI Credit Card against Fixed Deposit:
- Step 1: Visit the nearest branch of ICICI Bank.
- Step 2: Ask the representatives for an ICICI credit card against the FD application form.
- Step 3: Fill in the form and choose the type of card you want to avail.
- Step 4: Finally submit the form along with the necessary documents.
However, before proceeding with the application process, it becomes a must to be aware of the fees and charges associated with the card.
Fees and Charges of ICICI Credit Card Against FD
Following are the fees and charges associated with an ICICI FD credit card:
| Category | ICICI Platinum Credit Card | ICICI Coral Visa Credit Card |
| Joining Fee | NIL | ₹500 |
| Finance Charges | 2.49% per month or 29.88% per annum | No limit specified |
| Annual Fee | NIL | ₹500 from the second year |
| Foreign Currency Mark-up Fee | 3.5% | 3.5% |
| Cash Advance Transaction Fee | 2.5% on the advanced amount, subject to a minimum of ₹500 | 2.5% on the advanced amount, subject to a minimum of ₹500 |
| Cash Advance Interest Rate | 2.49% per month or 29.88% per annum | No limit specified |
| Redemption Handling Fee | ₹99 plus Goods and Services Tax (GST)/redemption request | ₹99 plus Goods and Services Tax (GST)/redemption request |
| Card Replacement Fee | ₹100 | ₹100 |
| Over Limit Charges | ₹550 | ₹550 |
| Dial-a-Draft Transaction Fee | 3% of the draft value amount, subject to a minimum fee of ₹300 | 3% of the draft value amount, subject to a minimum fee of ₹300 |
| Late Payment Charges | NIL if the amount is less than ₹100, ₹100 if it ranges between ₹100 and ₹500, ₹500 for amounts between ₹501 and ₹5,000, ₹750 if the amount is between ₹5,001 and ₹10,000, ₹900 if the amount is between ₹10,001 and ₹25,000, ₹1000 if the amount is between ₹25,001 and ₹50,000 and ₹1,200 for amounts more than ₹50,000 | NIL if the amount is less than ₹100, ₹100 if it ranges between ₹100 and ₹500, ₹500 for amounts between ₹501 and ₹5,000, ₹750 if the amount is between ₹5,001 and ₹10,000, ₹900 if the amount is between ₹10,001 and ₹25,000, ₹1000 if the amount is between ₹25,001 and ₹50,000 and ₹1,200 for amounts more than ₹50,000 |
In addition to the fees and charges, you should also have an idea regarding the benefits that make the ICICI FD credit card advantageous for you.
Features of ICICI Credit Card Against FD
Some of the salient features of ICICI credit card against FD include:
- Exclusive reward points that you can redeem on numerous purchases.
- 25% Discount of up to ₹100 on minimum purchase of two tickets, twice a month.
- Access to various privileges at different airport lounges.
- 1% to 2.5% Waiver on fuel surcharge whenever you purchase fuel.
- Card replacement services and emergency assistance across the globe.
- Payback points are available on shopping, dining and insurance purchases.
Furthermore, you should first check the eligibility criteria to ensure that you are qualified to get an ICICI FD credit card.
Eligibility Criteria for ICICI Credit Card Against FD
The eligibility requirements for obtaining a credit card against FD from ICICI Bank include:
- The minimum tenure of the FD account that you are linking should be 180 days.
- An applicant should be a citizen of India more than 18 years of age.
- The minimum fund in your ICICI Bank Fixed Deposit should be ₹50,000.
- The FD account against which the credit card is applied should not be Linked/Quantum/NRE/NRO/80C/HFC or be in the name of any third parties like Partnership Firms/HUFs/Societies/Trusts/Companies or under an existing lien.
Remember that the eligibility might differ slightly based on the types of ICICI Credit Card against Fixed Deposit.
Types of ICICI Credit Cards Against FD
Following are the types of ICICI FD credit cards that you can avail to carry out seamless transactions:
1. ICICI Platinum Credit Card
This is a popular fuel waiver credit card against fixed deposits that can help you in availing numerous offers and discounts on fuel purchases. This implies that you can save substantially on fuel purchases and enjoy long drives with your family and friends. However, to be eligible for this card, it is mandatory to deposit at least ₹50,000 in ICICI Bank FDs.
2. ICICI Coral Visa Credit Card
The Coral Visa card will benefit you with exclusive cashback, offers and discounts if you love shopping, watching movies, or visiting fine-dine restaurants. Additionally, you can access the fuel waiver on this card as well.
You can also keep the necessary documents ready when applying for an ICICI FD credit card against a Fixed Deposit, to complete the process faster.
Documents Required for ICICI FD Credit Card
You will need only a handful of primary documents to successfully apply for an ICICI FD credit card. Here is a list of those documents.
- Identity proof such as PAN Card, Aadhaar Card, Driving Licence and Voter ID Card.
- Address proof such as recent utility bills, property registration documents and passport.
To avail ICICI Bank credit card against FD, you will not need to furnish income-proof documents. However, the bank can ask for additional documents, if needed, to verify your details.
Final Word
With the numerous benefits associated with an ICICI FD credit card, you can save a lot on costs every day. Also, there is no expiry date for this type of credit card. So, you can continue to access its advantages as long as you keep your ICICI fixed deposit account active.
FAQs
Yes, you will keep on earning the interest on your FD account as decided even after you have issued an ICICI credit card against this account.
You can withdraw a maximum of 90% of the amount available in your ICICI fixed deposit account and use it for transactions.
You will have to pay off the dues of your ICICI Coral credit card within 60 days of your payment due date. Otherwise, the outstanding amount will be deducted automatically from your fixed deposit account.
Yes, the ICICI FD credit cards are embedded with a microchip and are associated with a unique Personal Identification Number (PIN). These provide additional layers of safety against card duplication and counterfeiting.
You are eligible to earn 2 ICICI reward points for every ₹100 up on purchasing fuel using this card. These reward points can be used for different transactions to save on costs.
