SBM ZET Credit Card
SBM Bank (India) · Open to apply
A lifetime-free RuPay credit card from SBM Bank and ZET, a credit score builder app, issued against a fixed deposit with SBM (limit 90% of the deposit, FD from ₹2,000 per ZET's page). It earns no rewards of its own: ZET's 2% cashback on ZET UPI payments needs a paid ZET Plus subscription.
- Annual fee
- Lifetime free
- Joining fee
- None
- Base rate
- No rewards on card spends: 0% cashback (about 0% at cash value)
- Lounges
- None on record
- Forex markup
- 2.49%
- Data
- From bank documents, checked 6 Nov 2026
Earns nothing on
- No rewards on card spends
Where the sources disagree
- minimum fixed deposit: The May 2025 launch coverage says deposits start at ₹5,000; ZET's current page says ₹2,000. We use ZET's page.
Terms the calculator does not value
- ZET Plus, a paid subscription (Gold ₹49 or Silver ₹99 a month + GST per ZET's page), gives 2% cashback on ZET UPI payments and 5% on Amazon Pay and Flipkart vouchers in the ZET app. Not counted: it costs a fee and its caps are not in a bank document.
- In-app offers on recharges, bill payments and vouchers from ZET's partner brands vary and are not in a bank document.
Sources
- SBM Secured Credit Card MITC & Cardholder Member Agreement (PDF of 2026-10-29) (Most important terms (MITC), the bank's own, read 6 Nov 2026)
- SBM Bank ZET Credit Card, Key Fact Statement (Schedule of charges, the bank's own, read 6 Nov 2026)
- ZET, SBM ZET Credit Card page (Partner's page, the bank's own, read 6 Nov 2026)
- ZET and SBM Bank India launch FD-backed credit card for first-time borrowers (CNBC TV18, 2025-05-28) (News, read 6 Nov 2026)