SBI Card launches FD-backed credit cards on YONO platform

Indian Opinion Analysis

Secured credit cards against fixed deposits are a standard product across Indian banks, and SBI has not disclosed what share of the deposit will set the credit limit. The key differentiator here is the fully digital approval on YONO, which could lower the entry barrier for first-time credit users who lack a credit history. Under RBI guidelines, banks can issue secured cards without a CIBIL score check, making this a viable starting point for millions of new-to-credit customers. The absence of details on fees and deposit terms means applicants will have to check the fine print. SBI Card is expected to release the full terms on the YONO app in the coming weeks.