Best Secured Credit Cards in India

In the realm of credit cards, secured credit cards offer a valuable pathway to financial stability and responsible credit management. These cards have emerged as a stepping stone for individuals looking to build or rebuild their credit history, especially in a country like India where financial inclusivity is increasingly vital. By providing a secure way to access credit, secured credit cards have become a sought-after solution for those seeking to establish creditworthiness while keeping their financial risks in check. Here we delve into the realm of secured credit cards in India, exploring the landscape, benefits, and some of the best options available for individuals looking to embark on their credit journey or enhance their financial standing.

Features of Secured Credit Cards

Secured credit cards offer a range of features that make them valuable tools for building or rebuilding credit. Here are some key features of secured credit cards:

Security Deposit: Requires a refundable security deposit to establish credit limit.
Credit Building: Helps build or rebuild credit history and credit score.
Collateral: The security deposit acts as collateral for the credit limit.
Lower Risk: Lowers risk for card issuer, making approval more accessible.
Credit Limit: Credit limit often tied to security deposit amount.
Limited Spending: Credit limit prevents overspending, promoting financial discipline.
Eligibility: Often accessible to individuals with limited or poor credit history.
Online Transactions: Can be used for online purchases and payments.
Emergency Funds: Can serve as an emergency source of funds.
Global Acceptance: Accepted internationally wherever credit cards are used.

List of Best Secured Credit Cards in India

Whether you’re a first-time credit card user or aiming to improve your credit profile, this curated list will provide insights into the top secured credit cards in India that can pave the way towards a stronger financial foundation.

Kotak 811 #DreamDifferent Credit Card

The Kotak 811 #DreamDifferent Credit Card is a unique financial tool that embodies innovation and convenience. Designed to cater to the needs of the digitally-savvy generation, this card offers a seamless application process through the Kotak 811 digital platform. With its contactless payment technology, this card allows for swift and secure transactions, enhancing the user experience. Moreover, the card comes with customized offers and rewards that align with the dynamic lifestyle of today’s individuals.

Key Highlights of Kotak 811 #DreamDifferent Credit Card

Reward Points: Earn 2 points per Rs. 100 online and 1 point for other expenses.
Interest-Free Cash Withdrawal: Take up to 90% of your limit with Rs. 300 per Rs. 10,000 fee; no interest for 48 days.
Balance Transfer: Move balances from other cards with Rs. 349 per Rs. 10,000 fee; keep interest-free period for new purchases.
Add-on Card: Extra cards share benefits; set spending limits, track spending.
Fuel & Railway Surcharge Waiver: 1% on fuel (Rs. 500 to Rs. 3000), 1.8% on irctc.co.in, 2.5% at railway booking counters (capped yearly).

Kotak 811 #DreamDifferent does not provide reward points on fuel spends, railway spends and cash withdrawals.

Joining Fee : Nil
Annual Fee : Nil
Welcome Benefits : Get 500 bonus points for Rs. 5000 spending in 45 days.
Eligibility : People aged 18 to 75 can get this card, with a credit limit of up to 90% of the fixed deposit amount.

SBI SimplySAVE Credit Card

The SBI SimplySAVE Credit Card is a fantastic choice for those seeking a seamless and rewarding shopping experience. With a focus on retail purchases, this card offers a range of benefits including straightforward reward point accumulation and easy redemption. Its simplicity stands out, as there’s no upper limit on reward points. Additionally, the card presents an annual fee waiver along with features designed to make offline shopping a breeze.

SBI SimplySAVE Credit Card
SBI SimplySAVE Credit Card

Key Highlights of SBI SimplySAVE Credit Card

Joining Fee: Rs. 499 + GST
Reward Points:
Get 1 Reward Point for every Rs. 150 spent with SimplySAVE SBI Card.
Use points to pay off card balance or pick from gift options.
Welcome Offer: Enjoy Rs. 100 cashback on first ATM cash withdrawal within 30 days of getting the card.
Contactless Convenience:
No need to hand over card or use cash for small buys.
Added security as the card stays in your hand, reducing loss or fraud risks.
Worldwide Usage:
Shop at 24 million global stores, including 3,25,000 in India.
Use it wherever Visa or MasterCard are accepted.
Add-on Cards: Extend benefits to family members over 18 with add-on cards.
Cash Withdrawal: Get cash from 1 million+ Visa/MasterCard ATMs worldwide.
Utility Bill Payment: Pay utility bills using Easy Bill Pay on your card.
Balance Transfer on EMI: Transfer balances from other cards for lower interest and EMIs.
Flexipay: Convert purchases of Rs. 2,500+ into monthly installments with Flexipay.

SBI Unnati Credit Card

The SBI Unnati Credit Card stands as a great choice for those seeking a straightforward and affordable credit card solution. The card comes with a unique offer of being free for the first four years, after which a nominal annual fee of Rs. 499 is applicable. This makes it an attractive option for individuals looking for a basic yet rewarding credit card for their day-to-day transactions. The card is not only economical but also brings a range of benefits and reward offers, enhancing its appeal. With its user-friendly features and the advantage of being free for the initial years, the SBI Unnati Credit Card offers a distinct proposition for those in search of a practical and accessible credit card option.

SBI Unnati Credit Card
SBI Unnati Credit Card

Key Highlights of SBI Unnati Credit Card

Annual Fee (First 4 years): None
Renewal Fee (5th year onwards): Rs. 499
Add-on Fee (per annum): None
Worldwide Use:
SBI Unnati card works at 24 million outlets worldwide, including 3,25,000 in India.
Make payments at places that accept Visa or MasterCard.
Contactless Convenience:
No need to give your card or find cash for small purchases.
Your card stays with you, reducing the risk of loss or fraud.
Add-on Cards: Share benefits with family members over 18 by getting them add-on cards.
Cash Withdrawal: Get cash from 1 million+ Visa/MasterCard ATMs worldwide.
Utility Bill Payment: Use Easy Bill Pay to pay electricity, telephone, and other utility bills with your card.
Balance Transfer on EMI:
Save money by transferring balances from other cards to SBI Card Unnati for lower interest and EMIs.
Use sbicard.com to access this service.
Flexipay:
Convert purchases of Rs. 2,500+ into easy monthly installments using Flexipay.
Access this service within 30 days of purchase on sbicard.com.

Flipkart Axis Bank Credit Card

The Flipkart Axis Bank Credit Card, a result of collaboration between Flipkart and Axis Bank, is a card that brings remarkable benefits to its users. Whether obtained through a fixed deposit or as a reward to valued customers, this card offers up to 5% savings on purchases, making it a favorite among shoppers. It’s a gateway to a world of cashback, offering accelerated earnings in various categories like travel, shopping, entertainment, and lifestyle. This co-branded card has gained significant popularity for its attractive discounts and cashback offers, adding an extra layer of value to every transaction.

Flipkart Axis Bank Credit Card
         Flipkart Axis Bank Credit Card

Key Highlights of Flipkart Axis Bank Credit Card

Joining Fee: Rs. 500
Welcome Benefits:
Get Rs. 1,100 introductory benefits on getting the card.
Enjoy up to Rs. 500 in Flipkart vouchers.
Grab 15% cashback (up to Rs. 500) on your first Myntra transaction.
Avail 50% off (up to Rs. 100) on your first Swiggy order (for new Swiggy customers).
Airport Lounge Access: Get free access to domestic airport lounges.
Dining Discounts: Enjoy exciting discounts on dining.
Fuel Surcharge Waiver: 1% waiver on fuel surcharge.
Eligibility:
Primary cardholder should be aged 18 to 70.
Individual should be a Resident or Non-Resident Indian.

Axis Bank ACE Credit Card

The Axis Bank ACE Credit Card is a unique offering that blends the convenience of a credit card with the security of a fixed deposit. Aimed at maximizing savings during online transactions, this secured credit card ensures unlimited cashback rewards on every purchase. By linking to a fixed deposit, it empowers users to spend wisely while enjoying the benefits of cashback. The Axis Bank ACE Credit Card stands as a reliable choice for those seeking a secure and rewarding financial tool.

Axis Bank Ace Credit Card
             Axis Bank Ace Credit Card

Key Highlights of Axis Bank ACE Credit Card

Joining Fee: Rs. 499
Waived if you spend over Rs. 10,000 within 45 days of getting the card.
Cashback Offers:
Get 5% cashback on Google Pay mobile recharges and bill payments.
Enjoy 4% cashback on Zomato, Ola, Swiggy, and 2% on other expenses.
Complimentary Lounge Access: Access domestic lounges for free.
Dining Savings: Save up to 20% on dining.
Eligibility:
Primary cardholder’s age should be 18 to 70.
The individual must be a Resident of India.

IDBI Bank Imperium Platinum Credit Card

The IDBI Bank Imperium Platinum Credit Card offers a secure and convenient way to access credit by leveraging your Fixed Deposit. With a minimum FD of Rs. 20,000, this card allows cash withdrawals of up to 70% of your credit limit. It comes with VISA branding, ensuring acceptance at numerous locations. The card boasts attractive reward programs and benefits, making it a reliable choice for those seeking credit solutions backed by their Fixed Deposits.

Key Highlights of IDBI Bank Imperium Platinum Credit Card

Joining & Annual Fees: (Primary Card) Rs. 499 for both joining and annual fee.
Credit Limit: Enjoy a credit limit up to 85% of your Fixed Deposit(s).
Cash Withdrawal Limit: Get a higher cash withdrawal limit, up to 70% of your credit limit.
Earn Rewards:
Earn 2 Delight Points for every Rs. 150 spent on shopping, movies, travel, etc.
Welcome bonus of 500 Delight Points.
More points earned with transactions of Rs. 1500 within 30 days or 300 points within 31-90 days.
Interest-Free Credit: Up to 48 days interest-free credit on purchases.
Wider Acceptance: Use at 9 lakh Indian merchants and 29 million worldwide.
Lost Card Protection: Immediate blocking and coverage against fraudulent transactions after reporting loss.
Family Cards: Gift family members (above 18) an add-on card with same benefits.
VISA Offers: Exclusive airport shopping, hotel, car rental offers, travel concierge services.
Fuel Surcharge Waiver: 1% fuel surcharge waiver for transactions of Rs. 400 to Rs. 4000.
Eligibility:
Primary & Add-on cardholder must be 18 or older.
Minimum eligible Fixed Deposit: Rs. 20,000 or equivalent FCNR deposits.
Documentation:
PAN card as ID proof.
Recent photograph.
Duly discharged Confirmation of Deposit(s) (COD).

ICICI Bank Instant Platinum Credit Card

The ICICI Bank Instant Platinum Credit Card offers a convenient and secure credit solution for individuals seeking immediate access to credit. By utilizing a fixed deposit of Rs. 20,000 or more, this secured credit card provides a range of benefits, including rewards, entertainment privileges, and dining offers. It’s an excellent choice for those looking to quickly obtain a credit card and even build or repair their credit score. With the ICICI Bank Instant Platinum Credit Card, financial flexibility and credit enhancement are easily attainable.

Key Highlights of ICICI Bank Instant Platinum Credit Card

Fees:
No joining fee or annual fee on the ICICI Bank Instant Platinum Credit Card.
No fee for supplementary credit cards.
Interest: Overdue interest on extended credit and cash advances is 2.49% per month or 29.88% annually.
Rewards: Earn 2 PAYBACK Points for every Rs. 100 spent.
Movie Discounts: Enjoy 25% off on movie tickets at BookMyShow.
Dining Savings: Save 15% or more on dining bills with the ICICI Bank Culinary Treats Programme.
Eligibility:
To get this card, you need a valid Fixed Deposit with ICICI Bank.
Minimum Fixed Deposit amount: ₹20,000.
Fixed Deposit should be for a minimum of 180 days.

ICICI Bank Rubyx Credit Card

The ICICI Bank Rubyx Credit Card linked to a fixed deposit is a secured credit card provided by ICICI Bank. It requires you to have a fixed deposit of Rs. 75,000 or more. The card offers appealing reward programs and exclusive benefits. Cardholders can earn rewards on their spends, avail airport lounge access, and enjoy discounts on dining and entertainment. The Rubyx Credit Card offers a blend of rewards and indulgence, making it an ideal choice for those who wish to elevate their credit card experience.

Key Highlights of ICICI Bank Rubyx Credit Card

Welcome Vouchers:
Get awesome vouchers worth over ₹5,000 with the joining fee payment.
Tata CliQ voucher of ₹2,000.
EaseMyTrip vouchers worth ₹2,000 (two ₹1,000 vouchers).
Uber vouchers worth ₹250.
Croma voucher of ₹1,000 (two ₹500 vouchers).
Anniversary Rewards: Earn up to 15,000 Reward Points each anniversary year.
Golf Benefits: Enjoy 2 complimentary rounds of golf per month based on eligible spends.
Airport Lounge Access:
Visa variant gets 2 free lounge accesses per quarter in India.
Spend ₹5,000+ in a calendar quarter to use in the next quarter.
Movie Discounts: Get 25% off (up to ₹150) on 2 movie tickets twice a month on BookMyShow and Inox.

Bank of Baroda Prime Credit Card

The Bank of Baroda Prime Credit Card is a unique offering that caters to individuals seeking a credit card secured against a fixed deposit of Rs. 15,000 or higher. With guaranteed approval, this card eliminates the need for a traditional credit check. It offers a lifetime of free membership and presents users with enticing rewards. The card is designed to provide financial convenience while leveraging the security of a fixed deposit, making it an accessible and beneficial option for various financial needs.

Key Highlights of Bank of Baroda Prime Credit Card 

Fees: No first-year or annual fees.
Guaranteed Issuance: Get the card against a Fixed Deposit (FD) of ₹15,000 or more without income proof.
Cashback and Rewards:
Cashback on all spends.
1 reward point for every ₹100 spent on select MCCs*.
2 reward points for every ₹100 spent on all other MCCs.
Fuel Benefits:
1% fuel surcharge waived on fuel transactions of ₹400 – ₹5,000 (Max. waiver of ₹250/month).
No reward points earned on fuel transactions.
Redemption Options: Redeem reward points for cashback and other exciting choices.
Easy EMI: Convert purchases above ₹2,500 into EMIs of 6/36 months.
Free Add-on Cards: Get up to 3 lifetime free add-on cards for family (above 18).
Insurance Cover: Free Personal Accidental Death Cover for family’s financial protection.
Lost Card Protection: Report loss immediately for zero liability on fraudulent transactions.
Interest-Free Credit: Enjoy up to 50 days of interest-free credit from the purchase date.
Revolving Credit: Pay Minimum Amount Due and manage spends conveniently.

IDFC FIRST WoW Credit Card

The IDFC FIRST WoW Credit Card stands out as a distinctive financial tool that combines the benefits of a credit card with a Fixed Deposit. This card offers a range of perks, including lifetime-valid reward points on all transactions and no forex markup charges for international spending. With a focus on rewarding users and catering to travelers’ needs, this card presents an excellent choice for those seeking a seamless blend of financial flexibility and travel benefits.

IDFC FIRST WOW Credit Card
          IDFC FIRST WOW Credit Card

Key Highlights of IDFC FIRST WoW Credit Card

Fees: There is no Joining or Membership fee applicable.
Zero Forex Markup: Travel globally and spend freely without worrying about currency exchange fees.
Easy Application: No documents, credit history, or income proof needed.
Credit Card backed by FD: FD returns starting at 7.25% p.a.*
Welcome Cashback on EMI: 5% cashback (up to ₹1,000) on your first EMI within 30 days of card issuance.
Cash Withdrawal from FD: Access 100% of your FD value as cash withdrawal.
Interest-Free Cash Withdrawal: Withdraw cash from ATMs with no interest for up to 48 days.
Up to 4X Rewards: Earn up to 4X rewards on online and offline spending.
Evergreen Rewards: Your reward points never expire.
Dining Discounts: Enjoy up to 20% off at 1,500 restaurants with all cards.
Insurance Coverage: Personal Accident cover up to ₹2,00,000.
Merchant Offers: Over 300 unique merchant offers and more benefits.