ICICI Bank Coral Credit Card Against Fixed Deposit Review

ICICI Bank Coral Credit Card Against Fixed Deposit offers a mix of benefits and convenience of both the credit card as well as a fixed deposit.  This card function a little bit differently than the rest of the credit cards and the limit of the credit card is defined by the fixed deposit amount where you can use up to 85% of the fixed deposit amount as the limit of the credit card. Let’s have a closer look at its details. 

ICICI Bank Coral Credit Card Against Fixed Deposit Review

Eligibility Criteria:

  • Resident Type: Indian. 
  • For salaried person:
    • Age: 21 to 60 yrs. 
    • Income: This card can be issued against a fixed deposit account. 
  • For self-employed person:
    • Age: 21 to 65 yrs. 
    • Income: This card can be issued against a fixed deposit account.
  • Minimum fixed deposit amount: ₹30,000 (has to keep it at least for 180 days). 

Required Documents:

  • Photocopy of ID Proof (any 1)
    • Aadhar card
    • Voter Card
    • Passport
    • PAN Card
  • Photocopy of Address proof (any 1) 
    • Last 6 months bank account Statement
    • Aadhar Card 
    • Driving License 
    • Passport
    • Utility bill
  • One recent passport-sized photographs
  • Proof of income statement:
    • Salaried Person (any 1)
      •  Salary Slip of the last 3 months 
      • ITR
    • Self-employed person
      • Income tax return of the last year 
      • Proof of business
      • Recent audited financial report. 

Fee:

  • Joining Fee: ₹500 + GST
  • Annual Fee: ₹500 + GST (can be waived off if ₹1.25lakh is spent within a year) 

Benefits:

  • Reward benefit:

You will enjoy 2 PAYBACK points on spending ₹100 on all purchases except on fuel.

This card offers 1 PAYBACK point on spending ₹100 on utilities and insurance.

You will get 4X reward points for the same on Dining, Groceries, and Supermarkets. 

  • Lounge Access: 

If you can spend ₹5,000 within a quarter, then you will get 1 free access to domestic lounges in the next quarter. 

  • Movie Benefit:

If you book at least 2 movie tickets from BookMyShow or INOX, you will get a 25% discount up to ₹100 on it. You can get this offer twice a month. 

  • Dining benefit:

With this card, you can enjoy up to a 15% discount on your dining bill. 

  • Fuel surcharge waiver:

This card offers a 1% waiver on fuel surcharges, this offer is applicable at all HPCL fuel stations in India, with the maximum applicable transaction amount of ₹4,000.  

  • Annual fee waiver:

If you can spend ₹1.25 lakh with your card within a year, then the annual fee for the next year will be waived off. 

  • EMV chip Card:

This card comes with the advanced EMV Chip and PIN system, which makes your transaction more secure. 

Charges:

  • Cash Withdrawal Charge: 2.5% against the withdrawn amount. 
  • Finance Charge: 3.4% monthly. 
  • Foreign currency transaction: 3.5% against the transaction amount. 

Contact Details:

Call: 1860 120 7777

Mail: You can mail the service authority just by visiting their website here: https://www.icicibank.com/complaints/complaints.page

Dispute Resolution Process:

100xGain Ratings: 6.5/10

Final Opinion:

You can take the card if you don’t have any credit score or you want to build a good credit score history else I will not at all recommend you to take the card, as no good offers or discounts are present with a joining fee of  Rs.500 as well as an annual fee, which is not at all acceptable. 

So if you are looking to get an instant credit card on your FD then you can go for the Axis Bank Insta Easy Credit Card it offers big benefits on shopping and travel, and if you don’t want a secured credit card then you can go for Axis Bank Flipkart Credit Card or ICICI Amazon Pay Credit Card

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