DCB Bank and fintech company ZET have launched a new secured credit card for people who are new to credit or don’t have access to regular credit cards.
This card is designed especially for people in smaller towns (Tier 2 and Tier 3 cities) who may not have a credit history or high income.
What is a secured credit card?
A secured credit card is backed by a fixed deposit (FD). That means:
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You first put some money in an FD with the bank.
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Based on that amount, the bank gives you a credit card.
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If you don’t pay your card bill, the bank can recover the money from your FD.
So, it’s a safe way for banks to give credit cards to people with no credit history.
How does this card help users?
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It’s a real credit card, it works on the RuPay network, so you can use it for shopping, online payments, or even UPI payments.
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There’s no annual fee (lifetime free).
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You earn interest on your fixed deposit, just like a regular FD.
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If you use the card responsibly, your credit score can improve within 30 to 45 days.
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A good credit score makes it easier to get loans or other credit cards in the future.
Why is this important?
- Around half of Indian adults don’t have a credit score because they never used credit before.
- This card helps them enter the formal banking and credit system.
- For banks, it’s low-risk because the card is backed by the customer’s own FD.
- For customers, it’s a safe and smart way to start building a credit history.
ZET is helping people who are new to credit get started with a credit card, first with SBM Bank, and now with DCB Bank, using a safe, deposit-backed model. Both time cards are designed for people who are new to credit, meaning they’ve never had a credit card or loan before.