SBI Card has introduced a fully digital application process on the SBI YONO platform for customers seeking fixed deposit-backed secured credit cards. Eligible SBI customers can now complete the application process in around 10 minutes without visiting a branch or submitting physical documents.
The new facility was announced on September 23 and is available to SBI customers who hold a fixed deposit with the bank. Under the digital journey, customers can apply for four Advantage SBI Card variants: SBI Card Elite, SBI Card Prime, SimplyCLICK SBI Card and SimplySAVE SBI Card.
Paperless Application Process Through YONO
The new facility allows eligible customers to apply for a secured credit card through a completely digital and paperless process on YONO. The credit card is secured against the customer’s SBI fixed deposit, combining collateral-backed credit with the features generally available with credit cards.
According to SBI Card, the new digital process is intended to make secured credit more accessible while reducing the time and effort involved in applying for a card. Customers can complete the required process online without relying on physical documentation.
A fixed deposit-backed credit card can also be useful for customers looking to establish or strengthen their credit profile while gaining access to the formal credit system.
Four SBI Card Variants Available
The new YONO facility offers customers four different secured card options instead of limiting them to a single card variant. Applicants can select between SBI Card Elite, SBI Card Prime, SimplyCLICK SBI Card and SimplySAVE SBI Card based on their individual spending requirements.
Making these four variants available through the same digital journey also expands the range of SBI Card products that customers can access through YONO.
“Customers can now experience a simpler and more convenient way to access secured credit cards through a seamless, 100% paperless digital journey,” said Salila Pande, Managing Director and CEO of SBI Card.
She further said that the digital process is designed to help customers access a secured credit card backed by a fixed deposit within minutes.
SBI Card Expands Digital Credit Access
The initiative combines SBI Card’s credit card portfolio with SBI’s YONO digital banking platform. SBI Card said the launch is part of its wider focus on digital-first customer journeys and expanding access to formal credit.
For eligible customers, the main change is the ability to apply for a secured credit card directly through YONO rather than following a physical, branch-based process. The SBI fixed deposit serves as the security for the card, while the digital application is designed to make the overall onboarding process faster and more convenient.
Disclaimer
This article is based on information provided by SBI Card at the time of the announcement. Card availability, eligibility requirements, application procedures and other terms may be subject to change. Customers should check the latest details with SBI Card or through the official SBI YONO platform before applying.