AU Bank FD Credit Card: How to Apply, Eligibility Criteria & More

A credit card against FD shall be an ideal option for anyone with an unstable income source, a low credit score or unsatisfactory proof of ID documents. For example, one may be a salaried professional who has a rather low income, an individual working hard on their very first start-up business or maybe a homemaker. 

Under such circumstances, it shall be difficult to provide proof of income as access to such supporting documents will inevitably be limited. Simultaneously, it shall become difficult for such persons to get a credit card. 

That’s when an AU Bank FD credit card shall come in handy! Let us discuss its benefits, the associated eligibility criteria, how to apply for it and other details. 

Why Apply for a Credit Card Against FD with AU Bank?

Below, we have highlighted reasons why you might want to apply for a credit card against FD with AU Bank, as your funding option:

• Beneficial for Persons Who Have Limited/No Access to Income Proof 

The AU Bank secured credit card comes in handy as it does not require the submission of additional income proof. It is the ideal option for applicants with poor credit scores. 

AU Bank shall designate the fixed deposit amount as the 'security amount' while providing you with a credit card in return. You can then spend your own money as necessary. However, make sure to pay the bank later on.

• Lower Interest Rates

Opting for a secure credit card against the FD with AU Bank is an ideal option for individuals who are hesitant about commercial credit cards. Secure credit cards offer much lower interest rates to users, compared to commercial credit cards. 

Thus, exercise flexibility with your money and pay back the amount to the bank, without worrying about the extra expense that may fall on you in the form of interest. 

• Improved Credit Score

Owning a secure credit card may boost one's credit score. So, not only do you benefit from the advantages of owning a credit card from AU Bank but you also get to improve your credit score over time. 

A plausible credit score shall set you up for a future where you can opt for credit cards with higher limits. The high credit score will also make it easier for a user to apply and get approved for loans, at negotiable rates of interest.  

• No More Exhaustive Paperwork

A typical credit card application process is associated with a lot of paperwork. The process of verifications may even get tiresome at one point, owing to how time-consuming it is. On the other hand, an AU Bank credit card against FD needs minimal paperwork, compared to commercial credit cards. So, you can unlock all the advantages of a credit card without having to complete huge formalities in the process.

• Minimum Tenure for FD

Usually, individuals are required to be in possession of their fixed deposits for at least 6-8 months before being eligible to apply for a credit card and avail the benefits. However, they can opt for a secure credit card against their FD, with AU Bank setting only a minimum tenure limit.

• Cashbacks & Interest-free Timeframes

Secure credit cards are associated with cashback options as well as offer coupons when one purchases items with them. AU Bank is also known to extend interest-free timeframes for secure credit cards. Such time frames range between 48 - 55 days.

If you are excited about the perks and cashback mentioned above, you might want to consider the Stable Money FD-backed credit card. 

It offers 0.5% cashback on all UPI transactions made using the card, along with several other benefits. Just link your credit card with UPI and you are good to go!

Other Benefits of the AU Bank FD-backed Credit Card

Here are some other benefits associated with the AU Bank FD credit card:

• Welcome Benefit: 500 ‘Reward Points’ on the first transaction you make within 30 days of setting up the card
• More Reward Points: 2 Reward Points for spending every ₹100 on retail purchases; 1 Reward Point for every ₹100 spent on insurance/utility transaction
• Milestone Advantages: Spend ₹25,000+ and get 500 Reward Points; spend ₹50,000+ and get an additional 500 Reward Points (fuel and cash transactions are excluded)
• Discounted International Markup Fee: International transactions associated with a lower Forex Markup of only 0.99%
• Domestic Airport Lounge Access: 2 complimentary domestic airport lounge access options/quarter on ₹30,000 previous quarter expenses 
• Railway Lounge Access: 2 Complimentary Railway Lounge visits are allowed per calendar quarter
• Fuel Surcharge Waiver: 1% Fuel Surcharge Waiver for any transactions between the amounts ₹400 - ₹5,000 across all fuel stations in India 
• AU Rewardz: Reward Points are available for a range of benefits, including merchandise, e-vouchers, flight tickets, hotel bookings, mobile/DTH recharges, etc.
• Card Liability Cover: If the credit card is lost, the individual bears zero liability upon any type of fraudulent transactions made with the card (once the loss is reported to AU bank)
• Contactless Card Use: Payments are made securely by simply tapping and paying at participating merchants, without needing to type in the PIN (applicable for transactions up to ₹5,000)
• Xpress EMI: Ease into EMI options with a quick call to AU Bank’s customer care helpline

AU Bank FD Credit Card Eligibility 

Here is a list of eligibility criteria associated with the application for AU Bank-secured credit cards: 

• The individual must at least be 18 years old or above.
• The individual must qualify as a Resident of India.
• The individual must have a Fixed Deposit registered under their name with AU Small Finance Bank.

No need to stress about eligibility criteria anymore! To get a Stable Money FD-backed credit card, all you need is a fixed deposit account with Suryoday SF Bank starting at just ₹1,000. 

Who Cannot Apply for an AU Bank FD Credit Card?

AU Bank will issue a credit card against FD to anyone who has a fixed deposit with the bank. It is important to note that FDs which are pre-marked as lien (i.e. fixed deposits against which an overdraft/loan has been taken), cannot be pledged as a security amount.

Here is a list of groups of people who are not eligible for the credit card against FD option:

• Minors (under the age of 18 years)
• Hindu Undivided Family (HUF)
• Foreign nationals
• Third parties
• Societies
• Trusts
• Partnership firms
• Depositors of tax-saving FD
• Depositors of NRI fixed deposits

Who Should Apply for an AU Bank FD-backed Credit Card?

Some examples of circumstances under which an AU Bank credit card against FD will be the ideal financial resort include:

• If the individual is looking to get approved for a credit card but has irregular/unstable sources of income
• If the individual needs a credit card but is unable to get approved for one, due to any given reason
• If the person has a poor credit history/no history to back the card request
• If the person comes under the category of ‘freelancers’, ‘homemakers’, etc.
• If an individual does not have any valid income proof to offer
• If the person has an entry-level job with only a bare minimum income

Documents Required for an AU Bank Credit Card Against FD

Here is the list of documents one must present to apply for an AU Bank credit card against FD:

• FD Certificate: It will serve as proof of the FD held by the card applicant with AU Bank.
• Fixed Deposit Receipt: One has to submit the AU Bank-issued FD receipt. 
• Filled Application Form: The credit card application form will be provided by the AU Bank, which needs to be filled out duly and submitted.
• Proof of Address: Applicants will have to provide address proof. Utility bills/rental agreement/passport shall be necessary for the verification of address.
• Age Proof: Documents that verify the age of the applicant, such as the birth certificate, must be provided. 
• Proof of Identity: Applicants need to submit government-issued IDs. These include the Aadhaar card, passport, driving license, etc.
• Photographs: Passport-sized coloured photographs are required.
• PAN Card: The PAN card should be provided, to meet the purpose of tax identification.
• Lien Authorization Letter: This document will authorise the AU Bank to mark a lien on the concerned fixed deposit.

Steps to Apply for AU Bank FD Credit Card

Here is a step-by-step guide to applying for an AU Bank FD credit card online:

Step 1: Go to the official website of AU Bank and click on ‘Apply Now’. 

Step 2: Fill out the online application form with the relevant details, including your personal, employment as well as financial information.

Step 3: Upload the necessary documents.

Step 4: Review the application for potential errors.

Step 5: Submit the application.

Step 6: Expect to receive a confirmation message/email.

Step 7: Prepare for the verification and approval process.

Post-approval, you will receive your AU Credit Card delivered to the registered address. As the next step, activate your credit card as per instructions.

Are you looking for a reliable platform where you can manage your FD-backed credit card? Stable Money offers high-interest FD-backed funding options through trusted banking partners—so you can unlock credit while your returns grow simultaneously.