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Fixed deposits are considered a safe and reliable investment option. Your money is protected, and you earn fixed interest. Now, IDFC First Bank has made FD investments even more profitable. The bank has launched a new Hello Cashback Credit Card, which is linked to FDs. This means that to receive the card, you must first make an FD with the bank.

How to get a credit card against an FD
The minimum FD amount for this card is ₹10,000. After making an FD, card approval is almost guaranteed. The credit limit is equal to the FD amount. This means that if you deposit ₹10,000 in an FD, you will receive the same limit on the card. If needed, you can withdraw cash equivalent to the FD amount from an ATM for 45 days, interest-free, for a fee of ₹199 + GST.

Cashback Benefits
This card offers cashback on online and digital payments. If you spend more than ₹10,000, you will receive 5% cashback. 3% cashback will be given on spending up to ₹10,000. The maximum limit for online cashback is ₹1,000 per billing cycle. Additionally, 1% cashback is available on essential items like in-store purchases, UPI payments, FASTag recharges, railway tickets, insurance, rent, jewelry, and gift cards.

FD and Card Benefits
Since the card is linked to an FD, you will continue to earn interest on the FD. If needed, you can increase the credit limit by adding additional FDs.

Fees and Annual Charges
The joining fee for this card is ₹1,000, and there is an annual charge of ₹1,000. However, there will be no joining fee for FDs made until March 31, 2026. The bank may also waive the annual fee based on the previous year's spending. The entire fee will be waived for annual spending up to ₹2 lakh, and some fees will be waived for spending up to ₹1 lakh. This way, FD investors can not only get safe returns but also avail additional benefits through credit cards and cashback.

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