About ZET SBM Credit Card
The SBM ZET SBM Credit Card (also known as the ZET FD Credit Card or the Magnet FD Credit Card) is a secure, lifetime-free RuPay credit card issued in collaboration with SBM Bank. It is primarily intended for people new to credit, those with low or no credit scores, students, and anyone looking to build a strong CIBIL score while receiving daily rewards and discounts. It requires a fixed deposit (starting from ₹2,000-₹5,000) as security, offers up to 90% credit limit, and earns interest (up to 7% annually).
How to Apply for the ZET SBM Credit Card Online?
- Click APPLY NOW
- You will be taken to the Credit Cards Application page
- Before you start, keep these ready: PAN card, Aadhaar card, and a blank piece of paper for signature
- Also, sit in a quiet place with no background noise and without help from another person; otherwise, your application may get rejected
- To begin, you may be asked to enter your name, email, mobile number, and PAN card to fetch your CIBIL score
- Complete your online KYC, then submit the form
- You will get a reference number to track your application
- Once your card is approved, you will be notified by SMS or email.
Fees and Charges
- Joining Fee: Nil (Lifetime Free)
- Annual Fee: Nil (Lifetime Free)
- Forex Markup Fee: 2.49% (Competitively low compared to the standard 3.5% on many cards)
Welcome and Milestone Benefits
- Welcome Benefits: Varies; often includes welcome ZCoins (e.g., 5,000 ZCoins worth ~₹500–₹1,000 redeemable for vouchers) upon approval and initial spending. Check the ZET app for current offers.
- Milestone Benefits: Limited in standard terms; focus is on ongoing discounts and cashback via vouchers rather than traditional milestones. Some mentions of points for spending thresholds in promotional content.
Cashback and Rewards
- Card Type: FD-backed Secured Credit Card (RuPay network, UPI enabled)
- Card Network: RuPay (linkable to PhonePe, Google Pay, etc. for UPI)
- Best For: Credit score building, beginners, UPI spends, discounts on food delivery, shopping vouchers, and everyday savings. Ideal for those without strong credit history.
- Cashback/Rewards on Online Purchases: Primarily via vouchers – 5% on Amazon/Amazon Pay, 5–8% on Flipkart, 20% on Myntra (voucher-based). Up to 15% cashback on 80+ brand vouchers (e.g., Dominos, Nykaa, PVR, Cleartrip).
- Cashback/Rewards on Offline Purchases: Limited; 2% cashback on UPI spends (with ZET Plus subscription in some cases). No broad rewards on general spends.
- Maximum Cashback per Statement Cycle: Caps apply on discounts (e.g., ₹100–₹200/month on Swiggy/Zomato) and ZCoins; varies with promotions.
- Rewards Redemption Options: ZCoins redeemable for vouchers (Amazon, Flipkart, Swiggy, etc.), statement credit, or cashback. Value typically 1 ZCoin = ₹0.20–₹0.25.
Key Discounts: Up to 20% off (capped) on Swiggy, Zomato, Swiggy Instamart, BookMyShow, etc.
Lounge Access
- Domestic Lounge Access: NA
- International Lounge Access: NA.
Category Spend Benefits
Rewards are mostly voucher-based rather than automatic category cashback. General spends earn little to no rewards.
- Online Shopping: Strong via vouchers (Amazon, Flipkart, Myntra).
- Food and Grocery: Up to 20% off on Swiggy, Zomato, Instamart.
- Travel Booking: Up to 15% on platforms like Cleartrip, EaseMyTrip (via vouchers).
- Utility Bill Payments: NA
- UPI Payment (Scan & Pay): 2% cashback (with ZET Plus in some variants).
- Fuel: NA
Excluded Categories
- Cash withdrawals, EMI transactions, wallet loads, P2P transfers, rent payments, government payments, insurance payments, education spends, and often fuel. No rewards or specific surcharges may apply.
Why Choose ZET SBM Credit Card?
- 100% Approval Guarantee with minimal documentation (PAN + Aadhaar, no income proof or credit history needed).
- Lifetime free with low forex markup.
- Builds credit score quickly through responsible usage (reports to bureaus).
- Earn interest on your FD while using the credit limit.
- Instant virtual card + UPI compatibility for seamless daily use.
- Solid discounts on popular apps and brands for everyday savings.
Drawbacks: Rewards are mostly voucher-based with caps and no broad category boosts. No lounge access and no rewards on many regular spends (rent, utilities, etc.). Best as a starter or secondary card.
Who is eligible for the ZET SBM Credit Card?
- Indian citizens aged 18–65.
- No minimum credit score or income proof required.
- Must open an FD with SBM Bank (min. ₹2,000–₹5,000).
- Salaried, self-employed, students, or homemakers are eligible.
Is the ZET SBM Credit Card worth applying for?
Yes, especially if you are new to credit, have a low credit score, or want a no-fee secured card to begin building credit while benefiting from UPI convenience and brand discounts. It provides good value for light spenders interested in food delivery, shopping vouchers, and credit building. Heavy spenders or frequent travelers may find better options elsewhere due to reward caps and a lack of lounge benefits. The fastest way to apply is through the ZET app (digital VKYC, instant virtual card).
This card is an excellent entry point into credit for millions of Indians—it is simple, safe, and rewarding for first-time users.