SBI Card launches fixed deposit-backed secured credit cards on YONO; applications take 10 minutes

SBI Card has launched a fully digital journey on the SBI YONO platform for customers to apply for fixed deposit-backed secured credit cards, allowing eligible SBI customers to complete the application process in around 10 minutes.

The new digital facility, announced on September 23, enables customers with an SBI fixed deposit to apply for four secured Advantage SBI Card variants — SBI Card Elite, SBI Card Prime, SimplyCLICK SBI Card and SimplySAVE SBI Card.

Under the new facility, customers can apply for a secured credit card through a 100% digital and paperless process on YONO. The card is backed by the customer's fixed deposit with SBI, combining the security of collateral with access to conventional credit card features.

SBI Card said the digital journey is designed to simplify access to secured credit and provide customers with a faster application experience. The process eliminates the need for physical documentation and enables eligible customers to complete the application digitally.

The fixed deposit-backed structure can also provide an entry point for customers who are looking to establish or strengthen their credit profile and gain access to the formal credit ecosystem.

Four card options available

Unlike a single secured-card proposition, the new YONO journey gives customers access to four Advantage SBI Card variants. This allows applicants to choose among different card propositions depending on their spending requirements.

The availability of Elite, Prime, SimplyCLICK and SimplySAVE variants on the same digital platform also expands the range of SBI Card products that can be accessed through YONO.

“Customers can now experience a simpler and more convenient way to access secured credit cards through a seamless, 100% paperless digital journey,” Salila Pande, Managing Director and CEO, SBI Card, said.

She added that the digital journey is designed to allow customers to access a secured credit card backed by a fixed deposit within minutes.

The launch brings together SBI Card's credit card portfolio with SBI's YONO digital banking infrastructure. SBI Card said the initiative is part of its broader focus on digital-first customer journeys and expanding access to formal credit.

For customers, the key change is that a secured credit card can now be applied for directly through YONO without a physical, branch-based process. The fixed deposit provides the security backing the card, while the digital application is intended to make the onboarding process faster and more convenient.