Suryoday Small Finance Bank Launches FD-Backed UPI Credit Cards- Apply Now

Q: Who is eligible for Suryoday Small Finance Bank FD-Backed UPI Credit Cards ?

Anyone with a valid KYC can get the FD-Backed UPI Credit Cards against the minimum required FD amount. .

Suryoday Small Finance Bank FD-Backed UPI Credit Cards Overview

Suryoday Small Finance Bank (SSFB) has started issuing secured credit cards that allow customers to use their fixed deposits (FDs) as collateral, making credit more accessible to those who have no credit history and a low CIBIL score. The new products—Suryoday SFB RuPay Select Credit Card and Suryoday SFB RuPay Platinum Credit Card—are designed especially for homemakers, students, retired persons and the unemployed categories to build their credit history.

Key Features of the Cards

Below, you will find details, charges, and uses of the card.

RuPay + UPI Integration:

Also Read: Best Rupay Credit Card: Top 10 Rupay Credit Cards

These cards can be linked with UPI platforms like PhonePe and Gpay and can be used to pay by scan and pay to UPI merchants at local shops.

Cashback Benefits:

You can earn 0.5% cashback on all transactions, capped at ₹3,000 per billing cycle.

No Hidden Charges:

Joining and Annual charges are waived off. That means you don't have to spend a single penny on the card.

Choose your own credit limit:

The credit limit will depend on the amount of the fixed deposit you will create. Hence, you will get a credit limit of 90% of the fixed deposit.

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FD Requirement

VARIANT	MINIMUM FD REQUIRED
Platinum Variant	Minimum FD of ₹1,000.
Select Variant	Minimum FD of ₹1,11,500.

Also Read: The Ultimate Review: Tata Neu HDFC Credit Card Benefits and How to Apply

Competitive FD Interest Rates

Suryoday SFB offers up to 8.40% interest on FDs linked to these cards, which is well above the 6.5%–7.5% typically offered by other small finance and nationalized banks. Moreover, your investment is insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) (an RBI subsidiary) that protects depositors up to ₹5,00,000 in case a bank fails or its license is canceled.

Should you opt for it?

Today, Rupay credit cards are gaining market share due to their ability to link with UPI-enabled apps. You can easily link these cards and pay at the local shops and vendors for your day-to-day small expenses and earn cashback and rewards. Instead of using your bank account for payments, using the UPI credit card will always offer you more benefits.

But getting an approval for a credit card can be difficult for everyone, especially for those who have no credit history or a low CIBIL score. So a FD-backed UPI credit card can be the best choice for them. Not only will you get the benefits of the credit card, but you will also get the opportunity to build your credit history for your first unsecured credit cards in the future.

Additionally, cardholders can enjoy RuPay-exclusive lifestyle, dining, and shopping offers, making the card a valuable tool for both spending and saving.

So, if you are finding it difficult to get an unsecured Rupay credit card, Suryoday Small Finance Bank (SSFB) backed FD cards can be a great choice for you.

Frequently Asked Questions

Who is eligible for Suryoday Small Finance Bank FD-Backed UPI Credit Cards ?

Anyone with a valid KYC can get the FD-Backed UPI Credit Cards against the minimum required FD amount.
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On what network are the credit cards available?

Credit cards are available in Mastercard, Visa and Rupay network. But only Rupay network credit cards are available for UPI payments.
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What is the limit of Credit Card?

The limit of the credit card is 90% of the amount of FD created.

Disclaimer: The views and opinions expressed are solely those of the author and do not necessarily reflect the official policy or position of Finostry. The information provided in this review is for informational purposes only and should not be considered as professional advice.

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Loves to write about personal finance, credit cards rewards, banking, mutual funds, fixed deposits, savings strategies, investment planning, tax-saving options, digital banking and wealth building techniques. With over 12 years of experience he aims to provide practical financial knowledge that is easy to understand for both beginners and experienced readers.