What is the Highest possible limit for a secured Card ?

[EINSTEIN]

I recently applied for a credit card against FD from icici bank and discovered that they give only 5 Lakh at max no matter how big the deposit. I want to invest a large sum of money in fixed deposit and want to know which bank gives highest limit and what percentage as credit limit for credit card against it.

 

[EINSTEIN]

One card gives max 1.1L limit against 1L limit (110%)
Indusind gives 90% don’t know max amount.

 

[helloworld]

Kotak can give you up-to 16 Lakh. But, any points on why you want to invest that much amount in FD (considering returns, taxes etc.)?

 

[EINSTEIN]

Kotak can give you up-to 16 Lakh. But, any points on why you want to invest that much amount in FD (considering returns, taxes etc.)?

For diversifying my portfolio. Do you know which cards do they offer against FD?

 

[helloworld]

811 Secured card can give you up-to 16 Lakhs limit.

https://www.kotak.com/en/personal-banking/cards/credit-cards/811-dream-different-credit-card.html

For portfolio diversification, I suggest to keep minimum amount in FD because of low returns and invest Liquid or Short Term Funds (just a suggestion, I think you already considered all these options, personally I do not like FD).

 

[BankExpertIndia]

I recently applied for a credit card against FD from icici bank and discovered that they give only 5 Lakh at max no matter how big the deposit. I want to invest a large sum of money in fixed deposit and want to know which bank gives highest limit and what percentage as credit limit for credit card against it.

Go For HDFC If You Do A FD Of 12-13L... You Can Take Infinia Against It...

 

[EINSTEIN]

Go For HDFC If You Do A FD Of 12-13L... You Can Take Infinia Against It...

Really? How much % as credit limit?

 

[BankExpertIndia]

Really? How much % as credit limit?

Yes... HDFC Gives 70% As Credit Limit... 13L Is Required For 10L Credit Limit (Infinia)

You Also Can Get DCB With 7L FD... Will Get 5L Of CL

But My Suggestion Is That Get A Card Only If FD Is For Long Time Like 3-5 Years... Because As You Close Your FD Your Card Will Also Get Closed.

 

[EINSTEIN]

Okay thanks for the help

Yes... HDFC Gives 70% As Credit Limit... 13L Is Required For 10L Credit Limit (Infinia)

You Also Can Get DCB With 7L FD... Will Get 5L Of CL

But My Suggestion Is That Get A Card Only If FD Is For Long Time Like 3-5 Years... Because As You Close Your FD Your Card Will Also Get Closed.

 

[EINSTEIN]

Does anyone know the same for axis or sbi?

 

[BankExpertIndia]

Does anyone know the same for axis or sbi?

Yep... In Axis You Only Can Get Privilege Card On FD... 1L FD Is Required (Credit Limit : 80% Of FD)

For SBI You Card You Can Get Whatever Card You Want (Credit Limit : 80% Of FD)

Disclaimer : I Don't Know About Aurum (SBI)

 

[EINSTEIN]

I wanted to get Axis Magnus nevertheless does bob issue eterna against FD?

Yep... In Axis You Only Can Get Privilege Card On FD... 1L FD Is Required (Credit Limit : 80% Of FD)

For SBI You Card You Can Get Whatever Card You Want (Credit Limit : 80% Of FD)

Disclaimer : I Don't Know About Aurum (SBI)

 

[BankExpertIndia]

I wanted to get Axis Magnus nevertheless does bob issue eterna against FD?

I Don't Know About BOB... BTW What's Your ITR?

 

[EINSTEIN]

Usually around 20L but last year was very less

 

[BankExpertIndia]

Usually around 20L but last year was very less

If You Have 12L Of ITR Then You Can Apply... Your Card Will Get Approved Easily... You Only Have To Pay The Joining & Annual Charges.. (BOB Eterna) OR You Can Apply With Other Card With The Limit Of 3-4 Lakhs.

 

[EINSTEIN]

If You Have 12L Of ITR Then You Can Apply... Your Card Will Get Approved Easily... You Only Have To Pay The Joining & Annual Charges.

For eterna?

 

[BankExpertIndia]

For eterna?

Yep!

 

[EINSTEIN]

Okay will try, btw I asked for SBI and Axis as both rejected my application twice in the last year. I opened a burgundy account so will try again.

 

[BankExpertIndia]

Okay will try, btw I asked for SBI and Axis as both rejected my application twice in the last year. I opened a burgundy account so will try again.

SBI I Suggest You To Please Apply Offline With The Help Of Agents.... The Chance Of Getting Approved Increases!

 

[EINSTEIN]

Will go for SBI or HDFC for FD as my icici one is near expiration and they are only giving coral or platinum with 5L limit which are useless imo