Suryoday Small Finance Bank Introduces FD-Backed Credit Card

Suryoday Small Finance Bank (SSFB) has entered the secured credit card market with two FD-backed offerings, designed to make credit more accessible to individuals who are new to borrowing. With no annual fees, instant issuance, and cashback rewards, these cards aim to combine security with convenience. The move comes at a time when credit card adoption in India is rising, but penetration remains relatively low compared to the population size.

RuPay-Enabled Credit Cards with Instant Virtual Access

SSFB’s secured credit card comes in 2 variants: the Suryoday SFB RuPay Select Credit Card and the Suryoday SFB RuPay Platinum Credit Card. Both are integrated with RuPay and UPI platforms, ensuring seamless digital transactions. Customers receive instant virtual cards, with a 0.5% cashback on every transaction, capped at ₹3,000 per billing cycle. These cards are free from annual charges and hidden fees, while RuPay’s partner offers extend benefits across lifestyle, dining, and shopping categories.

Eligibility is based on fixed deposits: ₹1,000 for the Platinum card and ₹1,11,500 for the Select variant. Repayment flexibility allows customers to pay as little as 10% of the outstanding balance before the due date or clear the entire bill within 30 days to avoid interest.

Driving Credit Inclusion with Higher FD Returns

As of May 2025, India had about 111 million credit cards in circulation, reflecting growth but still limited reach in a large population, as per news reports. Against this backdrop, SSFB is targeting underserved groups such as first-time borrowers, homemakers, and retirees, enabling them to access formal credit.

The secured card is tied to a fixed deposit, offering interest rates of up to 8.40% higher than the 6.5%-7.5% typically available from other small finance banks. This dual benefit of credit access and attractive deposit returns, coupled with UPI linkage through BHIM and similar apps, makes the product both practical and rewarding.

Read More: Zaggle Prepaid Signs Agreement with Suryoday Small Finance Bank!

Suryoday Small Finance Bank Share Performance 

As of September 03, 2025, Suryoday Small Finance Bank share price closed at ₹125.22 per share, reflecting a surge of 0.68% from the previous closing price. 

Conclusion

Suryoday Small Finance Bank’s FD-linked secured credit cards stand out as a step toward expanding financial inclusion. By merging competitive fixed deposit rates with RuPay-enabled credit features, the bank is encouraging responsible borrowing while providing extra value to customers who want both security and flexibility in their financial choices.

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