The card is designed as a credit-building product where users can open a fixed deposit and receive a credit card linked to it, enabling them to begin or rebuild their credit profile through usage. According to the announcement, the offering is also targeted at individuals with weak credit scores seeking to improve their credit standing through responsible repayment behaviour.
The FD requirement for the card starts at ₹2,000, with deposit holders also earning interest of up to 7% per annum, depending on applicable terms. The credit limit is linked to the fixed deposit, as is typical in secured credit card structures.
In terms of rewards, the card offers cashback on different transaction categories. Users can earn up to 1.5% cashback on online spends (for higher FD balances), 1% on offline purchases, and 1% on eligible UPI transactions. Cashback is credited in the form of Cash Points, where 1 point equals ₹1.
The program also includes caps on rewards accumulation, with a maximum of 500 points per day and 3,000 points per month. The card carries no joining fee and an annual fee of ₹499.
Speaking on the launch, SBM Bank India said the product is intended to expand access to formal credit through secured instruments, particularly for underserved customers. Paisabazaar stated that FD-backed cards can help create a structured entry point into the credit system for first-time users.
The companies said the product is positioned for new-to-credit consumers, including students and young professionals, as well as those looking to rebuild credit profiles.
First Published: Jun 10, 2026 11:46 AM IST
