FD-backed, lifetime free
IOB ZET Credit Card
A lifetime-free RuPay card backed by a small FD, used through the ZET app, with 2% back on UPI and 5% on Amazon and Flipkart vouchers with ZET Plus.
Joining feeFree
Annual feeLifetime free
Fee waiverNot needed
SecurityFD from ₹2,500
LoungeNone
Forex markup2.49%
Best for: Beginners building credit who buy vouchers and pay by UPI.
Rewards and cashback
| Where you spend | You earn | Limit |
|---|---|---|
| UPI payments (with ZET Plus) | 2% cashback | ₹500 a month in total |
| Amazon and Flipkart vouchers in the ZET app | 5% back | Shared ₹500 |
| Vouchers for 80+ brands like Domino’s, PVR, Nykaa | Up to 15% back | Shared ₹500 |
- Cashback needs the ZET Plus membership (₹99).
- Rewards come as ZET coins, used as vouchers or cash.
Benefits
Welcome benefit
- No welcome benefit listed.
Milestones
- None.
Travel and lounges
- No lounge access.
Fuel and forex
- Forex markup 2.49%.
Other perks
- Limit up to 90% of your FD
Fees and charges
| Joining fee | Free |
|---|---|
| Annual fee | Lifetime free |
| Security | FD from ₹2,500 |
GST at 18% applies on fees. Banks change charges from time to time; the bank’s own terms are final.
Who can apply
- No income proof needed; suited to people with no credit history
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
- Low FD
- Cashback on UPI
Watch out for
- Needs a paid membership for cashback
- Low monthly cap
- No lounges
Frequently asked questions
IOB ZET or SBM ZET?
They work the same way in the ZET app; the issuing bank and FD amount differ.
Ready to apply for the IOB ZET Credit Card?Applying takes about 10 minutes online. Approval depends on the bank.
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Sources: Paisabazaar. Details checked on 23 Oct 2026. For information only, not financial advice; always read the bank’s most important terms (MITC) before applying.