Best Secured Credit Cards in India
A secured credit card, as the name suggests, is secured by collateral (fixed deposit) that the customer has placed with the bank in lieu of getting approval for his/her card. Such a credit card is one of the best options for people without a good credit score or those who are new to credit. These credit cards are issued against fixed deposits and function in the same way as regular/unsecured credit cards. The only difference is that, in the case of secured credit cards, if the user defaults, the card issuer will recover the amount through the fixed deposit.
Best Secured Credit Cards in India for 2024
| Secured Credit Card | Annual Fee | Minimum FD Amount |
| Step UP Credit Card | Nil (Joining fee – Rs. 250 + 18% GST for FDs of up to Rs 5.000; NIL for FDs above Rs 5,000) | Rs. 2,000 |
| SBI Card Unnati | Nil (Rs. 499 from 5th year) | Rs. 25,000 |
| IDFC FIRST WOW! Credit Card | Nil | Rs 20,000 (Rs 25,000 for NRIs) |
| Kotak 811 #DreamDifferent Credit Card | Nil | Rs 5,555 (for 811 saving account customers);
Rs 10,000 (for Non 811 saving account customers) |
| ICICI Bank Instant Platinum Credit Card | Nil | Rs. 50,000 |
Last checked on 18 November 2024
Step UP Credit Card
Step UP Credit Card co-branded with SBM Bank Indian Ltd with Paisabazaar as a co-branded partner is one of the best credit cards suited for individuals with no or low credit history. People who wish to earn rewards on their spending and grow their money at the same time should consider getting this credit card. The best thing about this credit card is that you get 90% of the FD amount as your credit limit and no documents are required for this credit card at all.
Joining Fee: Rs. 250 + 18% GST (for FDs of up to Rs 5,000); NIL (for FDs above Rs 5,000)
Renewal Fee: Nil
Minimum Fixed Deposit Amount: Rs. 2,000
