Everything You Need to Know about the Best Secured Credit Cards in India

Usually, people with poor credit scores invest in the best secured credit card in India since it can significantly improve their creditworthiness. Secured credit cards require you to provide a deposit as collateral. You can utilise the interest of the FD while using this card.

A secured card works well for: 

• Individuals who have just taken up a job
• Retired people or homemakers without fixed income
• People who are not ineligible for unsecured cards
• Individuals who need a credit card but don’t have proof of income

The Most Popular Secured Credit Cards in India

Wondering which is the best secured credit card in India to help you achieve your financial goals? Here are some options you may consider:

One Credit Card

This card is a perfect all-rounder; swipe and earn rewards while shopping for food, travel, electronics and more. Also, there are no hidden costs. 

• Joining Fee: None
• Annual Fee: None
• Minimum FD Amount: ₹5,000

Some of the features of the One Credit Card are listed below:

 

Reward Points	Earn reward points with no expiration date Earn guaranteed 5X points every month on any of your top two spending categories
Credit Limit	Access a generous credit limit of up to ₹1 lakh  Get 100% of your fixed deposit as a credit limit
Fuel Surcharge Waiver	Enjoy the perk of having your fuel surcharge waived  Receive 1% as cashback, a maximum of ₹400 every month on your fuel purchase
Travel Benefits	Get discounts on flight bookings on partner brands like Goibibo, EaseMyTrip, and Ixigo Enjoy low forex markup fees and make international travel more affordable
Add-on Cards	Add up to 5 members with the OneCard MyFamily app Track their expenses while sharing your credit limit with them

SBI Card Unnati

This card is perfect for people who want to rebuild their credit profile.

• Annual Fee: ₹499 (free for the first 4 years)
• Minimum FD Amount: ₹25,000

Some of the features of SBI Card Unnati are listed below:

 

Reward Points	Earn 1 reward point for every ₹100 you spend Redeem points easily from their rewards catalogue
Milestone Benefit	Receive a cashback of ₹500 within 15 days on spending ₹50,000 or more yearly
Fuel Surcharge Waiver	Enjoy a 1% waiver on fuel surcharge, from ₹500 to ₹3,000
Balance Transfer on EMI	Transfer your balance to this credit card  Avail easy EMI option at a low interest rate

IDFC FIRST WOW! Credit Card

This credit card is specially designed for travellers.

• Joining Fee: ₹199 plus GST
• Annual Fee: ₹199 plus GST (2^nd year onwards)
• Forex Markup Fee: Zero
• Minimum FD Amount: ₹10,000 

Some of the features of IDFC First Wow Card are listed below:

 

Reward Points	Earn 1 reward point on every ₹150 spent Earn 3X reward points on all UPI payments above ₹2000 Earn reward points on insurance premium payments
Credit Limit	Enjoy credit limit which is equal to your deposit amount
Cash Advance Fee	Get charged ₹199 for each transaction
Travel Benefits	Avail exclusive discounts on travelling with partner brands like EaseMyTrip, MakeMyTrip, or Yatra.  Get discounts on hotel bookings
Fuel Surcharge Waiver	Enjoy a 1% waiver on fuel surcharge, from ₹200 to ₹5,000

Kotak 811 #DreamDifferent Credit Card

With interest-free cash withdrawals up to 48 days, it is an ideal credit card. 

• Joining Fee: None
• Annual Fee: None
• Minimum FD Amount: ₹5000

Some of the features of Kotak 811 #DreamDifferent Credit Card are listed below:

 

Reward Points	Earn 4 reward points for every ₹100 spent online  Earn 1 reward point for other spends of ₹100
Easy Cash Withdrawal	Withdraw cash up to 90% of the credit limit  Pay an affordable processing fee of ₹300
Milestone Benefit	Get an Amazon voucher of ₹1000 on spending ₹72,000 in a year Get ₹750 cashback or 4 PVR vouchers on spending ₹75,000 in a year
Credit Limit	Enjoy the limit up to 90% of your FD deposit
Fuel Surcharge Waiver	Avail a fuel surcharge waiver, maximum of ₹3500 in one year

After comparing different features, you can make an informed decision about the card you want to invest in, which will help you build your credit score. However, this list is not exclusive, as there are many other cards available in the market. No matter which one you go for, do your due diligence. Compare all fees, such as the interest rate, credit card cash withdrawal charges, late fees and more.

Opting for the One Credit Card can be beneficial since it has a seamless onboarding process and great offers on dining, groceries, travel and more. It offers 5X rewards on your top spending categories, allowing you to turn your everyday purchases into savings.

Its powerful app helps you manage your finances effortlessly. Using this app, you can track your spending, convert your spending into no-cost EMIs, set spending limits and more. Apply now and begin enjoying the perks of a lifetime-free card.