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SBM Bank India
SBM Bank India Magnet Credit Card
RuPay
SBM Bank India Magnet Credit Card
A lifetime-free, FD-backed secured RuPay credit card from SBM Bank India (offered with fintech partner Zetapp), designed for students, freelancers, and new-to-credit users without income proof.
Annual fee
₹0
Joining fee
₹0
Reward type
cashback
Base reward rate
1%
Card network
RuPay
Card tier
Entry
Who this card fits
Best suited to applicants who clear the standard eligibility bar. It's a lifetime-free card with no fee to track.
Rewards & benefits
- Rewards rate: 1% base rate
- Travel: 2.49% forex markup on international transactions, lower than most FD-backed entry cards
Benefits by category
- 🌍 Forex / international spend
2.49% forex markup on international transactions
Eligibility
- 0
- Employment: salaried, self-employed
- Age: 18–70
Fees & charges
- Foreign currency markup: 2.49%
Benefits
- FD-backed against a minimum FD of ₹5,000; credit limit is up to 90% of the FD value, no income proof needed
- Earn up to 10% cashback/rewards through partner brand offers, plus continued FD interest of up to 7% p.a.
Pros
- + Very low minimum FD (₹5,000)
- + No income proof or credit history required
- + FD continues to earn interest while used as collateral
- + Lower-than-average 2.49% forex markup
Cons
- − Rewards depend on rotating partner brand offers
- − Credit limit capped by FD amount
- − Limited standard benefits compared to unsecured cards