Secured credit cards by top banks in India 2023

Credit cards are a convenient payment facility that enables people to make quick transactions securely. One can pay for shopping, travel, dining and even house rent. Rent payment via credit card comes with numerous advantages, including reward points. Timely payment of credit card bills helps maintain one’s credit score. Most banks offer a secured credit card, which is beneficial for those who want to improve their credit score.

See also: Lifetime free credit cards offered by top banks in India


What is a secured credit card?

A secured credit card requires the cardholder to pay a cash deposit to the bank as collateral. This card is offered to those who do not have a credit history or have a limited credit history. The amount paid for the secured credit card is its credit limit.


Secured credit cards by top banks in India

Secured credit card
Minimum FD amount
Annual fee

SBI Card Unnati
Rs 25,000
Nil (Rs 499 from 5th year)

ICICI Bank Instant Platinum Credit Card
Rs 30,000

Axis Insta Easy Credit Card
Rs 25,000

Kotak 811 #DreamDifferent Credit Card
Rs 10,000

Bank of Baroda Prime Credit Card
Rs 15,000


SBI Card Unnati

The SBI Unnati Credit Card is for those looking for a basic credit card for everyday use and comes with numerous features and benefits.


1 reward point per Rs 100 transaction
500 cashback within 15 days as a milestone reward for annual spending of Rs 50,000 and above
1% fuel surcharge waiver per fuel purchase worth Rs 500-3,000

Allows balance transfer on EMI and transfer accumulated outstanding amounts of other banks’ credit cards to the SBI Unnati credit card. It has low interest rates for EMIs, varying from 50% for three months to 0.75% for six months
An interest-free credit period of 20-50 days on all purchases, depending on the payment of previous outstanding balances


ICICI Bank Instant Platinum Credit Card

The Instant Platinum Credit Card by ICICI Bank is a secured credit card for those who want to improve their credit profiles.


49% interest per month
A discount of Rs 100 on up to two BookMyShow movie tickets per month
15% discount on dining at over 2,600 restaurants through the Culinary Treats Program
3 PAYBACK Points for every Rs 100 spent on all purchases, except fuel transactions
Built-in contactless technology for secure payments at retail outlets


Axis Insta Easy Credit Card

The Insta Easy Credit Card is offered by Axis Bank with a flexible credit limit and the facility to convert purchases to EMI.


Credit limit preferred by the cardholder up to a maximum of 80% of the fixed deposit principal amount
EMI facility for transactions over Rs 2,500
1% fuel surcharge waiver across India
15% discount at partner restaurants across India
Report card loss and request for an emergency replacement through Visa International Global Card Assistance Services


Kotak 811 #DreamDifferent Credit Card

This secured credit card offered by Kotak Mahindra Bank is a lifetime free credit card that does not levy any joining or annual fee. It has a credit limit of up to 90% of the fixed deposit amount. Those between 18 to 75 years old can opt for this card.


2 reward points per Rs 100 spent online and 11 reward points per Rs 100 spent offline
Cash withdrawal of up to 90% of the credit limit with a processing fee of Rs 300 per Rs 10,000 withdrawn. No interest is levied for up to 48 days on cash advances
Cashback of Rs 750 or four free PVR tickets on Rs 75,000 spent in an anniversary year
1% fuel surcharge waiver at all petrol pumps with transactions between Rs 500-3,000. Maximum surcharge waiver up to Rs 3,500 per year
8% waiver on transactions on IRCTC portal and 2.5% on Indian railway booking counters, with a maximum limit of Rs 500 per year
Under 811 #DreamDifferent Shield benefit, cover of Rs 50,000 against frauds up to seven days of reporting a stolen card


Bank of Baroda Prime Credit Card

The Prime Credit Card offered by the Bank of Baroda is a secured credit card, which offers a host of benefits to the cardholder, including cashback and reward points.


Option to convert purchases of more than Rs 2,500 into EMIs
Interest-free credit for up to 50 days from the date of purchase
Up to three free lifetime add-on cards for spouses, parents, siblings or children above the age of 18 years
4 reward points per Rs 100 spent
1% fuel surcharge waiver across India for transactions between Rs 400-5,000



Is it a good idea to have a secured credit card?

Opting for a secured card is an excellent way to improve one’s credit score. It is suitable if one has a limited credit history. These credit cards offer a host of benefits, such as cashback, reward points and dining and fuel benefits.

Who should apply for a secured credit card?

A secured credit card is ideal for those who are beginning to earn or are in an entry-level job. These cards are also suited for retired people who do not have regular income sources or those who do not qualify for unsecured cards.

What are the top banks offering a secured credit card?

Some of the top banks offering credit cards include SBI, ICICI, Axis Bank and Kotak Mahindra.

How do secured credit cards work?

To obtain a secured credit card, one has to pay a fixed deposit amount to the bank. The card will be issued against this and the amount will be the card’s credit limit.

How fast can you build your credit score using a secured credit card?

To build and maintain a credit score, you must plan your expenses and spend wisely. The money you have provided as a deposit would be the credit limit. Spend within the prescribed limit by making small transactions that are easy to repay.

What is the difference between a credit card and a secured credit card?

Unsecured credit cards are issued without any security deposit by the cardholder. However, for a secured credit card, one is required to make a minimum deposit that is set as the credit limit.

Is there an annual fee for a secured credit card?

Several banks do not apply an annual fee on a secured credit card. It is advisable to check with the bank.

Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at