Lucknow: SBI Card has launched the Secured Advantage SBI Card on the SBI YONO platform, enabling customers to apply digitally for secured credit cards against their Fixed Deposits (FDs). According to the company, eligible customers can receive the card within around 10 minutes after completing the application process.
The digital facility was launched by State Bank of India Chairman Challa Sreenivasulu Setty. SBI Managing Director Ashwini Kumar Tewari and SBI Card Managing Director and CEO Salila Pande were also present.
Through SBI YONO, customers can apply for four Secured Advantage SBI Cards—SBI Card ELITE, SBI Card PRIME, SimplyCLICK SBI Card and SimplySAVE SBI Card.
For customers holding FDs with SBI, the application process is entirely digital and does not require physical paperwork. SBI Card said the initiative combines the security of fixed deposits with the convenience and benefits of a credit card.
The company said the facility could also help customers looking to establish or strengthen their formal credit profiles.
Salila Pande said the new digital process allows customers to apply for secured credit cards without paperwork. She added that the range of cards available through SBI YONO gives customers the flexibility to choose a card according to their requirements.
SBI Card said it continues to focus on digital solutions aimed at improving customer experience and making secured credit more accessible to FD holders.
