Skip to content
Free updates Login
BankingNABARD / RBI

Suryoday SFB Secured Credit Cards Backed by Fixed Deposits

4 September 20251 min read
BANKING & FINANCESuryoday SFBSecured CreditCards Backed byFixed Deposits4 September 2025safalsetu.com

Why in the news

In September 2025 Suryoday Small Finance Bank (SSFB) brought out credit cards that need a fixed deposit as security. They are aimed at people with little or no credit history.

Key facts

  • Target users: homemakers, retirees and first-time credit users; the aim is to nurture responsible credit habits.
  • Variants: Suryoday SFB RuPay Select and RuPay Platinum credit cards.
  • Security: the card limit is backed by a fixed deposit held with the bank.
  • Digital features: connected with RuPay and UPI, plus instant virtual card issuance.

About Suryoday Small Finance Bank

  • Started in 2008 as Suryoday Micro Finance, in Chennai, Tamil Nadu.
  • Converted into a small finance bank in 2017 to push financial inclusion.
  • Headquartered in Mumbai, Maharashtra, with more than 2.8 million customers.
  • Products: savings accounts, fixed deposits, MSME loans, rural finance and digital banking.

Exam angle

  • Concept: secured credit card, i.e. credit line against a fixed deposit.
  • Network tie-up: RuPay (with UPI linkage).
  • Bank type: small finance bank, HQ in Mumbai.

Test yourself

1. Suryoday Small Finance Bank's new credit cards are secured against which asset?

The cards use fixed deposits as collateral.

2. Which payment network are the Suryoday SFB Select and Platinum credit cards issued on?

Both variants are RuPay credit cards.

3. In which year did Suryoday Micro Finance become a small finance bank?

The notes say it transitioned in 2017.

This topic is part of Daily Current Affairs 3 September 2025 (15 topics).

All topics of the dayDay quizSeptember 2025

Read more