INCOME TAX23 Sept 2026
SBI Card launches FD-backed credit cards on YONO: Who is eligibility? What does it offer? Check variants & other details | Mint
SBI Card has launched a secured credit card backed by a fixed deposit (FD). You can apply online through SBI YONO in about 10 minutes, with no physical papers, if you hold an FD with SBI. It can help you build or improve your credit history. Four variants exist, but deposit size, credit limit and fee rules are unclear. Check full terms before applying.
Key Statutory Highlights
- SBI Card has launched a fixed deposit-backed secured credit card that you can apply for fully online through the SBI YONO platform in about 10 minutes.
- Customers who hold a fixed deposit with SBI can choose from four variants: SBI Card Elite, SBI Card Prime, SimplyCLICK SBI Card and SimplySAVE SBI Card.
- SBI Card has not yet shared the minimum FD amount, the credit limit offered against it, the joining and annual fees, the eligibility rules, or how the pledged deposit can be released.
Actionable Advice for Taxpayers / Founders:If you want this card mainly to build your credit history, wait for SBI Card to publish the minimum deposit, credit limit and fee details, then check them against your own cash flow before you apply.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
Share: