The primary difference is that you need to open a Fixed Deposit to get a secured Credit Card. Think of it as a security deposit. You’ll earn up to 7.40% p.a. interest on your FD.
To get an unsecured Credit Card, you don’t need to open a Fixed Deposit. All you need to have is a good credit score and a healthy credit history.
If you’re new to the world of credit and don’t have a credit score, you can get your hands on the SimpliFi Fi-Federal Credit Card issued by our partner, Federal Bank through the Fi app.