Credit Card Against FD

[me2cool]

Has anyone here taken a credit card against a FD?
How do the decide on the limit? There is a field called "Cash Balance to Hold from the Deposit" in the form. Is this the limit?

Do you have to provide income statement even when taking a CC against a FD?

 

[Identity]

Credit limit will be 90% of your FD amount.

100,000 FD -> 90,000 Credit Limit

 

[pasimal]

not issuing in these days

 

[shan4djfun]

exactly as your fb.

 

[me2cool]

not issuing in these days

really ? why?

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Credit limit will be 90% of your FD amount.

100,000 FD -> 90,000 Credit Limit

There is a field called "Amount to hold from the deposit". Do you have an idea what this means?
------ Post added on Nov 1, 2021 at 10:51 PM

 

[mayadmax]

if you have a deposit use it rather than keeping at a bank and getting a credit card against it. you can pay back anytime you want and also can put in a proper interest rate. so many complications if u put an FD and do it

 

[Identity]

really ? why?

---

There is a field called "Amount to hold from the deposit". Do you have an idea what this means?
------ Post added on Nov 1, 2021 at 10:51 PM

You will get a credit limit against that amount that you're willing to hold.

For example, your FD is 100,000 but you only want them to hold 50,000. So you'll be getting 90% of credit limit for that 50,000.

 

[smnadundk]

bmp

 

[darshanadun]

bmp