IDFC FIRST Bank Launches 'Business Multiplier' Secured Credit Card for Small Entrepreneurs
IDFC FIRST Bank launched the 'Business Multiplier' secured credit card on 19 May 2026 for small entrepreneurs. Issued against a fixed deposit, it needs no credit history and offers a 100% credit limit against the deposit with zero forex markup.
On 19 May 2026, IDFC FIRST Bank launched the 'Business Multiplier Credit Card' for early-stage entrepreneurs, founders and small business owners. It is a secured credit card, meaning it is issued against a fixed deposit (FD) kept with the bank.
Because the card is backed by a deposit, applicants do not need a long credit history, profit records or a high credit score to get one. This makes it easier for new and small businesses to access formal credit.
The card offers a credit limit equal to 100% of the linked fixed deposit, along with lower interest rates and zero foreign-exchange markup on international transactions. Users can also raise their credit limit later by adding more fixed deposits, without going through a fresh approval process.
For exam aspirants: a 'secured credit card' is a card backed by collateral such as a fixed deposit, which lowers the bank's risk. Such products are aimed at people and businesses that find it hard to get a regular (unsecured) credit card.
Key Points to Remember
- Launched 19 May 2026 by IDFC FIRST Bank
- 'Business Multiplier' — a secured credit card for entrepreneurs and small business owners
- Issued against a fixed deposit; no credit history or high credit score needed
- 100% credit limit against the linked FD; zero forex markup
- Credit limit can grow by adding more FDs without fresh underwriting
Exam Relevance
Relevant for Banking exams (Banking Awareness) and SSC (General Awareness).
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