Novio Credit Card Review 2026 – FD-Backed RuPay Card, SBM & DCB Compared

The Novio credit card is a fixed deposit backed RuPay credit card available through the novio app, owned by Credilio Financial Technologies Private Limited. It is not issued by Novio itself. Novio partners with two banks, SBM Bank India and DCB Bank, each issuing its own distinct card under the Novio brand: the SBM novio Secured Credit Card and the DCB novio Credit Card. Both are lifetime free with zero joining and annual fees, require a minimum Fixed Deposit to open, and are built for people without a salary slip or established credit score. This review is based only on the official Key Fact Statement issued by SBM Bank and the official Most Important Terms and Conditions issued by DCB Bank, so every figure here is verifiable directly with the issuing bank.

Novio Credit Card — Key Details at a Glance

What Is the Novio Credit Card and How Does It Work

Novio is not a bank. It is a fintech brand, owned by Credilio Financial Technologies Private Limited, that connects customers to fixed deposit backed credit cards issued by partner banks. Under this model, you open a Fixed Deposit through the novio app with either SBM Bank India or DCB Bank, and the bank issues you a credit card with a credit limit equal to 90% of your FD amount, confirmed identically in both banks’ official documents. Since the card is secured against your own deposit, no income proof or credit score is required to apply, and approval is largely guaranteed subject to completing the FD and KYC process.

Because two different banks issue cards under the same Novio brand, you are effectively choosing between two separate financial products with different fee structures, interest rates, and benefits. This is the single most important thing to understand before applying, and it is the reason a side by side comparison matters more than a single review.

SBM novio vs DCB novio — Official Fee and Charge Comparison

Every figure below is taken directly from SBM Bank’s official Key Fact Statement and DCB Bank’s official Most Important Terms and Conditions document for their respective novio credit cards.

On interest rate alone, DCB novio is meaningfully cheaper if you ever carry a balance: 36% p.a. versus SBM novio’s 42% p.a. Both banks state that the free credit period is available only if the previous month’s balance is cleared in full, and both charge a Rs. 599 cancellation fee if you close the card within the first 12 months.

DCB novio Lounge Access — Exact Terms

DCB Bank’s official MITC document is the only one of the two that confirms airport lounge access, and only for the DCB novio Select variant.

• DCB novio Select variant: 1 domestic terminal airport lounge visit per quarter, totalling 4 visits per year. No international lounge visits are included.
• DCB novio Platinum variant: No lounge visits are listed in the official MITC document for this variant.
• How access works: Access is granted upon successful authorization of the card at the point of sale terminal at the lounge. A non-refundable authorization amount of Rs. 2 is charged to the card for validation purposes at each visit.
• Unused visits do not carry forward: If a quarterly lounge visit is not used, it lapses at the end of that quarter and cannot be carried over.
• Governed by NPCI: The lounge programme is managed by NPCI (through RuPay’s lounge network) and can be modified or revoked at any time without prior notice, as stated in DCB’s official terms.

Reward Exclusions — What Does Not Earn Rewards

DCB Bank’s official MITC explicitly lists transaction categories excluded from reward calculations on the DCB novio Credit Card: rent payment, wallet loading, online gaming, gambling, fuel, and cash withdrawal. Rewards for the DCB novio card are credited in the first month of the next quarter after a spend-based milestone is achieved, and the rewards programme itself is administered by novio, not DCB Bank directly.

What This Blog Cannot Confirm

In the interest of accuracy, several commonly repeated claims about Novio credit cards could not be verified from either bank’s official Key Fact Statement or Most Important Terms and Conditions document, and are therefore excluded from this review rather than stated as fact.

• Exact reward earn rates: Neither official document specifies the exact novioCoins earn percentage on fuel, UPI, or other categories. Reward rates are managed through the novio app’s own rewards programme, separate from the bank’s KFS and MITC documents. Check the novio app directly for the live, current rate before applying.
• novioCoin redemption value: Neither official document states a fixed rupee value per novioCoin. Redemption values and the voucher catalogue are managed inside the novio app and may change at any time.
• SBM novio lounge access: SBM Bank’s official Key Fact Statement does not mention lounge access at all for the SBM novio card. Do not assume lounge access is available on this variant unless confirmed directly with SBM Bank or inside the novio app at the time of application.
• Welcome bonus specifics: Welcome offers, brand vouchers, and any joining incentives are managed by the novio app and are subject to change. Neither bank’s official regulatory document itemises a specific welcome bonus amount.

Who Should Get the Novio Credit Card

• First-time credit card users with no income proof: Since the card is secured against your own Fixed Deposit, approval does not depend on salary slips or an existing credit score. This makes it accessible to students, freelancers, and gig workers who are otherwise locked out of standard credit cards.
• Anyone prioritising a lower interest rate: DCB novio’s 36% p.a. interest rate is meaningfully lower than SBM novio’s 42% p.a. If there is any chance you will carry a balance rather than pay in full, this difference compounds significantly over time.
• Anyone who wants lounge access on a secured card: The DCB novio Select variant is the only one of the two cards confirmed to offer lounge access (4 domestic visits per year), based strictly on official documentation.
• Not ideal for: Anyone who cannot commit to keeping a Fixed Deposit locked for at least 12 months, since both banks charge a Rs. 599 closure fee within the first year. Also not ideal for anyone who relies heavily on fuel spending for rewards, since DCB explicitly excludes fuel transactions from its rewards programme.

Related Reads

1. Best UPI Credit Cards in India 2026
2. What Is a Demat Account and How to Open One in India 2026
3. Credit Card Reward Points Explained — Earn, Redeem and Maximise Value
4. Best Credit Cards for Rs. 50,000 Salary in India 2026
5. All Credit Cards Available on PickMyWork

Frequently Asked Questions — Novio Credit Card

1. What is the Novio credit card?
   The Novio credit card is a fixed deposit backed RuPay credit card available through the novio app, owned by Credilio Financial Technologies Private Limited. Novio itself is not a bank. It partners with SBM Bank India and DCB Bank, each of which issues its own separate credit card under the Novio brand: the SBM novio Secured Credit Card and the DCB novio Credit Card. Both have zero joining and annual fees and a credit limit equal to 90% of your linked Fixed Deposit amount.
2. What is the difference between SBM novio and DCB novio?
   Based on each bank’s official documents, SBM novio charges 3.5% per month (42% p.a.) interest and a flat Rs. 499 late payment fee, with no lounge access confirmed. DCB novio charges a lower 3% per month (36% p.a.) interest, a tiered late payment fee of Rs. 100 or Rs. 500 depending on the outstanding balance, and offers 4 domestic lounge visits per year on its Select variant. Both charge a Rs. 599 fee if the card is closed within 12 months.
3. Does the Novio credit card offer airport lounge access?
   Only the DCB novio Select variant offers confirmed lounge access, at 1 domestic visit per quarter (4 per year), per DCB Bank’s official Most Important Terms and Conditions document. The DCB novio Platinum variant and both SBM novio variants (Visa and RuPay) do not have lounge access confirmed in either bank’s official regulatory documents.
4. How much Fixed Deposit do I need for a Novio credit card?
   According to novio’s official app store listings, you can start with a Fixed Deposit of Rs. 2,000. Your credit limit will be 90% of whatever amount you deposit, confirmed identically in both SBM Bank’s and DCB Bank’s official documents. A free physical card is issued once your cumulative FD with DCB Bank reaches Rs. 10,000 or more.
5. What happens if I close my Novio credit card early?
   Both SBM Bank and DCB Bank charge a card cancellation fee of Rs. 599 if you close the card within 12 months of activation, confirmed in both banks’ official fee documents. Your linked Fixed Deposit is returned to you (minus any outstanding dues) upon closure.
6. Are there any categories excluded from Novio credit card rewards?
   Yes. DCB Bank’s official Most Important Terms and Conditions document explicitly excludes rent payments, wallet loading, online gaming, gambling, fuel purchases, and cash withdrawals from reward calculations on the DCB novio Credit Card. Exclusions for the SBM novio card’s reward programme are not detailed in SBM Bank’s official Key Fact Statement, since the rewards programme itself is managed through the novio app rather than the bank directly.
7. Is the Novio credit card good for building credit with no income proof?
   Yes. Because the card is secured against your own Fixed Deposit, neither SBM Bank nor DCB Bank requires income proof or an existing credit score for approval, based on their official terms. This makes it accessible for students, freelancers, and first-time credit card applicants who want to build a credit history.

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