StockWatch
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Non Banking Financial Company (NBFC)
New Launch23 Sept 2026, 04:04 pm

SBI Card Launches Fixed Deposit Backed Secured Card on YONO

AI Summary

SBI Card has launched the 'Advantage SBI Card' on the SBI YONO platform, offering a 100% digital and paperless journey for customers to obtain a secured credit card backed by a fixed deposit. This new offering aims to provide a seamless and convenient way for customers to access credit, particularly for those looking to build or strengthen their credit profile. The application process is designed to be completed within 10 minutes. The launch was inaugurated by the Chairman of State Bank of India and the Managing Director & CEO of SBI Card. Customers can apply for various Advantage SBI Card variants through this digital channel.

Key Highlights

  • SBI Card launches new secured credit card on SBI YONO platform.
  • Offers a 100% digital and paperless application process.
  • Aims to enhance access to formal credit for customers.
  • Secured card is backed by a fixed deposit with SBI.
  • Application process is designed to take approximately 10 minutes.