New Credit Card Launched: Cashback on Every Transaction, Zero Annual Fees, No Hidden Charges

Suryoday Small Finance Bank (SSFB) has announced the launch of a new secured credit card, designed to make credit more accessible to individuals who often face difficulties in getting approval for traditional cards. What makes this product especially attractive is that it is backed by a fixed deposit (FD) and comes with multiple benefits, including cashback on every transaction, zero annual fees, and no hidden charges.

Cashback on Every Purchase

The newly launched card offers 0.5% cashback on all purchases. The maximum cashback limit is capped at ₹3,000 per billing cycle, making it a rewarding option for frequent users. Unlike many other credit cards in the market, this one does not carry annual fees, joining fees, or hidden charges—offering transparency and value to cardholders.

Two Variants to Choose From

SSFB has rolled out the credit card in two variants:

• Suryoday SFB RuPay Select Credit Card

• Suryoday SFB RuPay Platinum Credit Card

Both variants are integrated with RuPay and UPI platforms, enabling seamless digital transactions. The cards also offer instant virtual issuance, allowing customers to start using them immediately without waiting for the physical card.

Flexible Credit Limits Linked to FD

One of the key highlights of this secured credit card is its flexibility. The credit limit is determined by the customer’s fixed deposit amount. Users can start with an FD of just ₹1,000 for the Platinum variant, while the Select variant requires a larger FD of ₹1,11,500.

Additionally, customers have the option to pay only 10% of the outstanding balance as the minimum due or clear the full amount within 30 days to avoid interest charges. This feature makes the card convenient for those who want flexibility in repayment.

Higher FD Interest Rates for Customers

Apart from card benefits, SSFB is also offering FD interest rates of up to 8.40%, which is higher than the 6.5%–7.5% average rates provided by most other small finance banks. This dual benefit—higher FD returns along with a credit card linked to that FD—positions the product as a smart financial tool for both savers and spenders.

Designed for First-Time Users and Retirees

This secured credit card has been developed keeping in mind first-time borrowers and retired individuals who may struggle to get unsecured cards due to a lack of credit history. By responsibly using this FD-backed card and repaying on time, users can gradually build a strong credit profile, opening the door to more financial opportunities in the future.

UPI Integration for Seamless Payments

The card can be easily linked to BHIM or any UPI app, simplifying digital payments and enhancing convenience. Given the rapid adoption of UPI across India, this feature makes the card more practical for everyday use.

Boosting Credit Card Penetration in India

According to data from May 2025, India had around 111 million credit cards in circulation. With SSFB’s new initiative, the bank aims to further increase credit card penetration, particularly among individuals with limited or no prior credit access.

By combining cashback rewards, no hidden fees, higher FD interest, and UPI compatibility, this new offering from SSFB is likely to appeal to a wide range of customers, especially those looking for a transparent and beginner-friendly entry into the world of credit.