Legal Question in Banking Law in India

Namaskar Adarniya,

My name is Aakash Sharma from Vidisha (M.P.). Sir I want to know that how is credit card limit determined, does it require any security against credit limit and which bank account (saving/current) is must for obtaining credit card.

Thanks in advance.......


Asked on 1/10/15, 2:38 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

12.01.2015

Dear Aakash,

Credit Card limit is based on the balance available in your Bank a/c at the time of applying for and availing the Credit Card. Banks normally do not insist on any personal assets to be offered as security in case of a Savings A/c. Although I recommend you open your A/c with State Bank of India, i suggest you also check up with Axis Bank and Yes Bank to finally decide on your choice.

Regards,

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Answered on 1/11/15, 11:45 pm


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