Getting your first credit card can be difficult if you have no credit history.
To solve this, Paisabazaar and SBM Bank India have launched the Paisabazaar Paisa+ Credit Card, an FD-backed secured credit card designed specifically for new-to-credit users and those looking to build or rebuild their credit profile.
Why This Launch Matters
One of the biggest challenges in India is the “no credit history, no credit card” problem.
This card aims to bridge that gap by offering approval against a fixed deposit instead of relying heavily on an existing credit score. The FD acts as collateral while continuing to earn interest.
Key Features
Low Entry Barrier
- Minimum FD starts from ₹2,000
- Suitable for students, young professionals, freelancers, and first-time borrowers
- Helps establish a credit history with responsible usage and timely payments.
Cashback Benefits
Depending on the FD amount:
- 1.5% cashback on online spends for FD balances above ₹10,000
- 1% cashback on online spends for FD balances between ₹2,000 and ₹10,000
- 1% cashback on offline spends
- 1% cashback on eligible UPI spends above ₹2,000.
Earn Interest on Your FD
Unlike a security deposit that sits idle, the linked FD continues to earn interest while supporting your credit limit.
Who Should Consider It?
First-time credit card users
Students starting their credit journey
Individuals with limited or no credit history
Users looking to improve their credit score
People unable to qualify for unsecured credit cards.
Things to Keep in Mind
- This is a secured credit card, so an FD is mandatory.
- Cashback earnings are subject to monthly and daily caps.
- Lifestyle perks like airport lounge access are not the focus of this product.
The Paisabazaar Paisa+ Credit Card is a practical addition to India’s growing secured-card segment.
With a minimum FD of ₹2,000, cashback on everyday spends, UPI compatibility, and the ability to build a credit history, it offers an accessible starting point for users who are just entering the credit ecosystem.