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Saraswat Co-operative Bank
Saraswat Bank Secured RuPay Credit Card
RuPay
Saraswat Bank Secured RuPay Credit Card
A fixed-deposit-backed RuPay card aimed at members with little or no credit history — Saraswat Bank sets the credit limit as a share of the linked FD, skips income and credit-score checks, and charges no joining or annual fee at all, making it a low-risk way to start building a credit profile.
Annual fee
₹0
Joining fee
₹0
Reward type
points
Base reward rate
1%
Card network
RuPay
Card tier
Entry
Who this card fits
Best suited to applicants who clear the standard eligibility bar. It's a lifetime-free card with no fee to track.
Rewards & benefits
- Rewards rate: 1% base rate
- Domestic lounge access: None
- International lounge access: None
Eligibility
- Employment: salaried, self-employed
- Age: 18–70
Fees & charges
- Interest rate: 36% p.a.
Benefits
- 500 welcome reward points on card activation plus 300 reward points on the first successful transaction
- Credit limit of 80% of the linked Saraswat Bank term deposit face value (min Rs. 5,000, max Rs. 25 lakh); minimum deposit Rs. 6,500 for 1 year; no income proof or credit history needed
Pros
- + Lifetime free: nil joining and annual fee, including add-on cards
- + No income proof or credit history needed since the FD secures the limit
- + Lower finance charges (1.25% per month) than the unsecured card
- + Helps build a credit history for first-time borrowers
Cons
- − Requires locking up funds in a Saraswat Bank term deposit (minimum Rs. 6,500, 12 months)
- − No accelerated reward categories
- − Only available to Saraswat Bank members, not the general public