17th October, 2025: Credilio, a leading new age fintech, driving India’s secured credit card opportunity, today announced launch of novio – its new UPI powered secured credit card in partnership with DCB Bank Ltd., a leading new generation private sector bank.
With estimates of just 40 million unique credit card holders in India, access to formal credit remains limited — largely constrained by traditional underwriting models that prioritize salaried income and formal credit score. Novio is a strategic move as Credilio aims to bridge this gap, and has hence partnered with DCB Bank. These two companies are doubling down on their shared mission to democratise lending product access for India’s ‘new-to-credit’ and ‘middle-to-upper middle income’ population, a segment estimated at 300 million individuals, residing in metros to tier 4 locations. Novio guarantees access to India’s most premium secured credit, with best-in-class rewards, digital convenience, and responsible credit profile building — redefining credit access for India’s next generation !
Founded by a group of former banking professionals and serial entrepreneurs, Novio seamlessly integrates with UPI, making credit access effortless for millions of new credit card users. “Credit card is a very aspirational product amongst the young and emerging Indians, and we receive more than 10 lakh customer applications every month. With Novio – we are building a personal finance ecosystem on the UPI stack. Our latest product is a RuPay secured credit card backed by a fixed deposit, this product offers a host of premium benefits such as up to 10X rewards on everyday spends, exclusive lifestyle privileges and instant rewards redemption through the Novio app. With an easy three step process of applying, instant issuance and auto-linking of this RuPay card to UPI one can start transacting instantly, while their fixed deposit continues to earn interest” shares Aditya Gupta, Founder & CEO, Credilio.
He further added, “NPCI’s endeavour to bring RuPay credit cards on UPI is changing the way India experiences credit, seamlessly transitioning merchant spends from debit to credit. With DCB Bank Novio Credit Card, we are excited to start our partnership with DCB Bank and plan to expand with several new innovative products lined up in the near term – truly a simple and secure way for millions of UPI-active users to start building credit.“
Novio’s best-in-class features include 10X Rewards, Airport Lounge Access, 1+1 offers and instant cashback at leading merchants in high frequency categories such as food, grocery and entertainment. Customers can apply for Novio credit card by downloading the Novio App, booking a fixed deposit of their desired amount via UPI, without the need to open a Savings Bank account[GM1] [PK2] . As customers uses this card, build their credit history, Novio will bring in access to other credit products such as personal loans, unsecured cards, etc.
Damodar Agarwal, Head of Strategic Alliance & Alternate Channels at DCB Bank, said, “Digital savvy and digital native customers and non-metro locations are both go-to segments for DCB Bank. We have built a robust technology backbone that enables seamless collaboration with fintech, and novio’s innovative yet risk aware approach aligns with our vision and ethic. Their pioneering work in secured credit cards and deep distribution network will help make credit both inclusive and aspirational for new-to-credit and thin-file customers. The wonderful integration of UPI payment infrastructure offers potential introduce low-risk, accessible lending products while providing customers with a rewarding and frictionless payment experience.”
Both the organisations share the strategic vision of leveraging Secured Credit Card product to harness growing aspirations of consuming population of India and build a large scale business in a low-credit risk environment.