IDFC FIRST Bank has introduced the Business Multiplier Credit Card, a secured card designed specifically for entrepreneurs, freelancers, and small business owners.
The launch bridges a major gap: early-stage entrepreneurs currently rely on personal credit cards for business expenses because traditional business cards require 2-3 years of ITR, high CIBIL scores, and extensive documentation.
How the card works
The card is issued against a fixed deposit (FD). This removes income proof requirements. Your credit limit equals 100% of your FD amount – higher than typical secured cards that offer only 80-90%.
You can increase your limit instantly by adding another FD, without fresh underwriting.
Key benefits for business owners
Lower interest rate – Most credit cards charge 3-4% per month on revolving balances. This card charges around 1% per month, making short-term cash flow gaps cheaper to manage.
Zero forex mark-up – A feature usually reserved for premium cards. For businesses paying for cloud services, SaaS tools, or digital ads in foreign currency, this saves significant costs.
Business expense separation – Helps keep personal and business spending distinct. This simplifies accounting, tax filing, and expense tracking. Employee cards and consolidated statements are included.
Eligibility and fees
Minimum FD: ₹50,000
Annual fee: ₹1,000 (waived on meeting spending threshold)
No need for profitable ITR, credit history, or minimum vintage.
Who should consider this card
The product works as a hybrid tool – part credit builder, part working capital buffer, part expense manager. Bootstrapped startups, freelancers with international clients, and newly registered SMEs will benefit the most
