FD-backed, lifetime free
SBM ZET Credit Card
A lifetime-free RuPay card backed by an FD from ₹2,000, used through the ZET app. Most value comes from discounted brand vouchers bought in the app.
Joining feeFree
Annual feeLifetime free
Fee waiverNot needed
SecurityFD of ₹2,000 or more
LoungeNone
Forex markup2.49%
Best for: Beginners with no credit history who buy Swiggy, Zomato or Amazon vouchers anyway.
Rewards and cashback
| Where you spend | You earn | Limit |
|---|---|---|
| Swiggy, Zomato, Instamart, BookMyShow vouchers in the ZET app | Up to 20% off | – |
| Amazon Pay and Flipkart vouchers in the ZET app | 5% off | – |
| UPI through ZET (with paid ZET Plus) | 2% cashback | – |
| Regular card spends outside the app | Nothing (or very little) | – |
- Savings come from vouchers bought in the ZET app, not from points on normal spends.
- ZET Plus costs about ₹3 a day + GST.
Benefits
Welcome benefit
- No welcome benefit.
Milestones
- None.
Travel and lounges
- No lounge access.
Fuel and forex
- Forex markup 2.49%.
Other perks
- FD earns interest and is insured up to ₹5 lakh
- Works on UPI
Fees and charges
| Joining fee | Free |
|---|---|
| Annual fee | Lifetime free |
| Security | Fixed deposit from ₹2,000 (virtual card below ₹5,000) |
| Interest | 3.5% a month |
| Other fees | 1% on rent and education; early-closure fee within 2 years |
GST at 18% applies on fees. Banks change charges from time to time; the bank’s own terms are final.
Who can apply
- Age 18+
- No income proof or credit history needed
You will usually need PAN, Aadhaar or address proof, and income proof (salary slips or ITR). A credit score of 750 or more improves your chances.
Pros and cons
What we like
- No fees
- Very low FD
- Big discounts on popular vouchers
Watch out for
- Little reward on normal spends
- Best value needs a paid plan
- Early-closure fee
Recent changes
- 23 Oct 2026Early-closure period extended to 2 years; late fee now 5% of dues (₹50 to ₹1,000).
- 15 Jul 20261% fee on rent and education payments.
Frequently asked questions
Is SBM ZET good for building a credit score?
Yes. It needs only a ₹2,000 FD and no income proof, and it reports to credit bureaus like any credit card.
Ready to apply for the SBM ZET Credit Card?Applying takes about 10 minutes online. Approval depends on the bank.
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Sources: CardAdvisor. Details checked on 23 Oct 2026. For information only, not financial advice; always read the bank’s most important terms (MITC) before applying.