Suryoday Small Finance Bank launched two secure credit cards on Monday, supported by the fixed deposits of customers and offers 0.5 percent cashback on all transactions. The Mumbai-based lender introduced the Suryoday SFB Rupay Select and Platinum variants, aimed at customers who may not be eligible for conventional credit cards due to income or documentation requirements.
The maps require minimal fixed deposits of £ 1,000 for the Platinum variant and £ 1.11,500 for the Select Variant. Customers earn up to 8.40 percent interest on their backing deposits while they have access to credit equal to their FD amount. Both variants have immediate virtual issue and integration with UPI platforms.
The move focuses on the penetration gorge of India, with only 111 million cards in circulation from May 2025 among the 1.4 billion population in the country. The bank strives to help users and households with a low income for the first time in building credit history without traditional income -proof requirements.
The most important characteristics are lifelong free status without hidden costs, cashback covered with £ 3,000 per billing cycle and exclusive Rupay offers in lifestyle categories. Annual costs of £ 150 Plus GST are abandoned to issue £ 20,000 for platinum and £ 50,000 for selected variants.
Chief Business Officer Gaurav Pawra said that the product is democratizing credit access and helps customers to switch to the formal credit cosystem. The bank operates 710 points of sale in 15 states and trade union areas.
Published on 2 September 2025
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