No job or income proof? You can get a credit card with your fixed deposit

When Anjali, a 32-year-old homemaker in Pune, tried applying for a credit card, she was turned down — not because she didn’t have savings, but because she lacked regular income proof. For millions of Indians like her — homemakers, retirees, or young professionals just starting out — accessing formal credit often feels out of reach.

 

Suryoday Small Finance Bank (SSFB) is aiming to change that with its new Secured Credit Card backed by Fixed Deposits (FDs). The product allows customers to use their own savings as collateral to get a credit card.

 

Suppose Anjali has ₹50,000 in savings but doesn’t have a regular salary slip. Normally, if she applies for a credit card, the bank may reject her because she can’t show steady income proof.

 

 

With Suryoday’s new secured credit card:

 

Anjali puts ₹50,000 into a Fixed Deposit (FD) with the bank.

 

The bank uses this FD as collateral (security) and issues him a credit card.

 

His credit limit will usually be a percentage of the FD (say ₹40,000–₹50,000).

 

While Anjali uses the card, her FD remains intact and continues earning interest (up to 8.40%).

 

If Anjali pays her card bills on time, her credit history improves, making it easier to qualify for an unsecured credit card or loan in the future.

 

If Anjali fails to pay, the bank can recover dues by adjusting against the FD — so there’s no risk for the bank.

 

What’s on Offer?

 

SSFB has launched two variants:

 

Suryoday SFB RuPay Select Credit Card – backed by a minimum FD of ₹1,11,500.

 

Suryoday SFB RuPay Platinum Credit Card – starts with a much smaller FD of just ₹1,000.

 

Both cards are:

 

Lifetime free – no joining or renewal fees.

 

Offer 0.5% cashback on all transactions (up to ₹3,000 per billing cycle).

 

Come with exclusive RuPay offers on dining, travel, and shopping.

 

UPI-enabled – meaning you can link the card to BHIM or any UPI app for everyday use.

 

Issued instantly in virtual form, so customers can use them from day one.

 

On top of that, the FD backing the card continues to earn industry-high interest of up to 8.40%, which is among the best rates offered in India.

 

"The Suryoday SFB Secured Credit Card  offers 0.5% cashback on all transactions, with a maximum capping ₹3,000 per billing cycle, and comes with seamless UPI integration, enabling customers to link their card to BHIM or any UPI app for everyday payments. By securing the card against a Fixed Deposit, customers not only gain easy access to credit but also enjoy industry-leading returns of up to 8.40% on their FD. The card is issued instantly in a virtual format, ensuring immediate usability from the moment of approval, the bank said in a statement. 

For savers, this product is particularly attractive:

 

Your FD remains intact, continuing to earn 8.40% interest.

 

You gain a credit card limit linked to your FD amount.

 

Responsible usage builds your credit score, opening doors to future loans or higher card limits.

 

Flexibility to repay as little as 10% of dues each month, or clear in full within 30 days to enjoy interest-free credit.

 

As Gaurav Pawra, Chief Business Officer, SSFB, explains:

“This card is not just a financial product, but a stepping stone. Customers get access to credit while continuing to earn on their deposits. Over time, responsible usage helps them transition into the broader credit ecosystem without fear of rejection or financial stress.”