New Delhi, Sept. 23 -- SBI Card on Wednesday launched a new secured credit card backed by a fixed deposit, allowing customers to apply for the product digitally through the SBI YONO platform without submitting physical documents, ahead of the festive season.

According to the press release, the Advantage SBI Card can be obtained through an entirely online application process, which takes around 10 minutes to complete. A secured credit card is issued against a fixed deposit, which acts as security for the credit facility. SBI Card's latest offering is available to customers who maintain an FD with SBI.

The card is designed for customers looking for credit facilities secured against an FD. SBI Card said the product could also serve as a st...