If you make FD from this bank then it will become silver, you will get the benefit of credit card and cashback.
Fixed deposit is considered a safe and reliable method of investment. In this your money remains safe and you get fixed interest. Now IDFC First Bank has made FD investment more profitable. The bank has launched the new Hello Cashback Credit Card. Which is linked to FD. This means that to get the card, you will first have to make an FD in the bank.
How to get credit card on FD
The minimum FD amount for this card is Rs 10 thousand. After making FD, card approval is almost guaranteed. The credit limit remains equal to the amount of FD. That is, if you have deposited Rs 10 thousand in FD, then you will get the same limit on the card. If needed, cash equal to the FD amount can be withdrawn from the ATM without interest for 45 days, just a charge of Rs 199 + GST has to be paid.
benefit of cashback
Cashback is available on online and digital payments on this card. If you spend more than Rs 10,000, you will get 5 percent cashback. 3 percent cashback will be given on spending up to Rs 10,000. The maximum limit for online cashback is Rs 1,000 per billing cycle. Apart from this, the card offers 1% cashback on essentials like in-store purchases, UPI payments, FASTag recharge, railway tickets, insurance, rent, jewelery and gift cards.
Benefits of FD and card
Since the card is linked to FD, you will continue to get interest on FD. If needed, you can increase the credit limit by adding additional FD.
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Fees and annual charges
The joining fee of this card is Rs 1,000 and there is an annual charge of Rs 1,000. However, no joining fee will be charged for making FD till March 31, 2026. The bank can also waive the annual fee on the basis of last year’s expenses. The entire fee will be waived off on annual expenditure up to Rs 2 lakh, and some fees will be waived off on expenditure up to Rs 1 lakh. In this way, people investing in FD can not only get secure returns but can also avail additional benefits through credit cards and cashback.
