SBI Card Launches FD-Backed Advantage Credit Card on YONO Platform
SBI Cards and Payment Services Limited has introduced a digital fixed deposit-backed credit facility named Advantage SBI Card on the SBI YONO app. The facility enables eligible State Bank of India depositors to access credit lines against their term deposits across four product variants through a paperless process.
What happened
SBI Cards and Payment Services Limited, a subsidiary of the State Bank of India, has rolled out a secured credit offering called the Advantage SBI Card. The product is hosted on State Bank of India's flagship mobile banking platform, SBI YONO, allowing depositors to secure credit lines directly against their existing fixed deposits.
The application workflow is designed as an end-to-end paperless journey that can be completed digitally in approximately 10 minutes without physical branch visits or traditional documentation. The fixed deposit maintained with SBI functions as underlying collateral, enabling applicants to access formal credit and build or improve their credit bureau history without requiring conventional income-based underwriting.
The offering includes four card variants across different segments: SBI Card ELITE, SBI Card PRIME, SimplyCLICK SBI Card, and SimplySAVE SBI Card. The launch saw the participation of key leadership, including SBI Chairman C. S. Setty, SBI Managing Director Ashwini Kumar Tewari, and SBI Card MD & CEO Salila Pande.
Important dates
| Announcement Date in Research Notes | 23 September 2026 |
|---|---|
| Editorial Coverage Date | 29 September 2026 |
Eligibility
- Applicants must be eligible depositors holding term deposits (fixed deposits) with State Bank of India.
📌 Static GK links
- SBI Card Headquarters: Gurugram, Haryana (Registered Office: New Delhi)
- State Bank of India (SBI) Chairman: C. S. Setty
- Managing Director of SBI: Ashwini Kumar Tewari
- Managing Director & CEO of SBI Cards and Payment Services Limited: Salila Pande
What candidates should do
- Note the product name 'Advantage SBI Card' and its four tiers for banking awareness sections of upcoming SBI PO, SBI Clerk, and IBPS exams.
- Memorise the names of the current SBI Chairman and key leadership of SBI Card.
- Review the operational differences between secured credit cards and regular unsecured credit cards.
PrepZen analysis
In banking examinations such as SBI PO, IBPS PO, and RBI Grade B, financial product rollouts by major public sector subsidiaries frequently appear in general awareness sections. The Advantage SBI Card illustrates an ongoing shift toward secured digital lending, leveraging existing liabilities (fixed deposits) to de-risk retail credit expansion.
Questions on this topic may assess knowledge of the platform used (SBI YONO), the specific card tiers introduced, the institutional relationship between SBI and its card subsidiary, or current executive appointments such as the Chairman of SBI.
Practice questions
Q1. Which secured credit facility was recently rolled out by SBI Card on the SBI YONO digital banking platform?
Q2. Which of the following is NOT one of the four card variants introduced under the Advantage SBI Card facility?
Q3. Where are the primary headquarters of SBI Cards and Payment Services Limited located?
Eligible depositors can apply through an end-to-end digital mechanism on YONO.
Credit lines are sanctioned directly against customer term deposits.
The lineup introduces four product tiers including ELITE, PRIME, SimplyCLICK, and SimplySAVE.
🎯 Key Point: SBI Card introduced FD-backed Advantage SBI Card on SBI YONO app.
FAQs
What is the Advantage SBI Card?
It is a secured credit card issued by SBI Card that allows SBI depositors to avail a credit line against their fixed deposits using a fully digital application on the SBI YONO platform.
Which card tiers are available under this new secured credit facility?
Four variants are available: SBI Card ELITE, SBI Card PRIME, SimplyCLICK SBI Card, and SimplySAVE SBI Card.
Who is the Chairman of the State Bank of India as of this announcement?
Challa Sreenivasulu Setty (C. S. Setty) serves as the Chairman of the State Bank of India.
How long does the digital onboarding process take on the YONO app?
The paperless application journey can be completed end-to-end in approximately 10 minutes.
Sources
- paisesamjho.com (paisesamjho.com)
- businesstoday.in (www.businesstoday.in)
- sarkaritel.com (www.sarkaritel.com)
- business-standard.com (www.business-standard.com)
Prepared by the PrepZen Editorial Team from official releases and verified reports, for exam preparation. Spotted an error? Write to prepzen.app@gmail.com.
Practice Quiz — 29 September 2026
Q1. What is the primary duration and focus of the Vision Document on Narcotics Control unveiled at the 3rd National ANTF Conference?
Q2. What is the joint venture equity contribution ratio between Deendayal Port Authority (DPA) and Assam Petro-Chemicals Ltd (APCL) for the e-methanol facility at Kandla?
Q3. At which major port did the Cabinet Committee on Economic Affairs (CCEA) approve the ₹17,167-crore Outer Harbour Project?
Q4. Consider the following statements regarding the newly launched Advantage SBI Card on YONO: 1. It is a secured credit card issued against a customer's fixed deposit. 2. The entire application and issuance process is executed digitally on the YONO platform. 3. It is available in four variants including ELITE and SimplySAVE. Which of the statements given above are correct?
Q5. Which regulatory authority granted approval for rebranding ICICI Prudential Life Insurance Company Limited to ICICI Life Insurance Limited?
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