Suryoday Small Finance Bank Launches Fixed Deposit-Linked Credit Card for Customers

Suryoday Small Finance Bank has announced the rollout of a new credit card that is backed by fixed deposits (FDs). The product is designed to help customers with limited credit history gain access to credit while enjoying the security of their deposit. The FD-backed credit card allows customers to leverage their fixed deposit as collateral, ensuring lower risk for the bank and easier approvals for applicants. This feature is expected to benefit first-time cardholders, students, and individuals with no prior credit score. Bank officials highlighted that the product aims to promote financial inclusion. By tying credit availability to an FD, customers can build or improve their credit score while continuing to earn interest on their deposit. The card also comes with value-added features such as reward points, online purchase protection, and the ability to convert transactions into EMIs. These benefits bring it on par with conventional unsecured credit cards, while maintaining a lower entry barrier. With increasing demand for flexible financial products, Suryoday Small Finance Bank’s FD-backed credit card is positioned as a safe yet rewarding option for customers looking to enter the formal credit ecosystem.