SBM ZET Rupay Credit Card Review : 21000₹+ Welcome Benifits
In today’s fast-paced financial world, having a good credit score is essential for securing loans, mortgages, and even better insurance rates. However, building or improving a credit score can be challenging, especially for those with no credit history or a low score. Enter the SBM ZET Credit Card, a unique financial product designed to help individuals establish or enhance their credit profile while offering a host of exclusive benefits. Backed by a Fixed Deposit (FD) and secured by the Reserve Bank of India (RBI), this card is an excellent choice for both salaried and self-employed individuals looking to take control of their financial future.
In this comprehensive guide, we’ll explore the features, benefits, eligibility criteria, application process, and tips for maximizing the potential of the SBM ZET Credit Card. Whether you’re a first-time credit card user or someone looking to rebuild your credit, this card could be the perfect solution for you.
What is the SBM ZET Credit Card?
The SBM ZET Credit Card is a secured credit card that operates against a Fixed Deposit (FD). Unlike traditional credit cards that rely heavily on your credit score or income proof, this card is accessible to individuals with little to no credit history. By linking the card to an FD, the SBM ZET Credit Card minimizes the risk for the issuer, making it easier for applicants to get approved.
The card is designed to help users build a credit score of 750+ through responsible usage. It also doubles as a UPI-enabled credit card, allowing seamless online and offline payments through third-party UPI apps. With no joining or renewal fees, a low FD requirement starting at just ₹5,000, and a range of rewards and discounts, the SBM ZET Credit Card is both cost-effective and rewarding.
Key Features of the SBM ZET Credit Card
The SBM ZET Credit Card stands out for its user-friendly features and benefits tailored to help you improve your financial health. Here’s a closer look at what it offers:
1. Builds a Strong Credit Score
- The card is designed to help you achieve a credit score of 750+ by reporting your responsible usage to credit bureaus.
- You can start seeing improvements in your credit score in as little as 30-45 days after opening the account, though significant improvements may take a few months or more.
2. Secured by Fixed Deposit
- The card is backed by an FD, which is insured by the RBI and protected by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
- The minimum FD amount is ₹5,000, with a maximum limit of ₹25,000. You receive 90% of your FD as your credit limit, which can be topped up anytime.
- Earn up to 7% interest on your FD, making it a win-win for both credit-building and savings.
3. UPI-Enabled Credit Card
- Make seamless UPI payments through third-party apps, both online and offline.
- Enjoy a 45-day interest-free period on UPI transactions, giving you flexibility in managing your expenses.
4. No Credit Score or Income Proof Required
- Unlike traditional credit cards, the SBM ZET Credit Card does not require a high credit score or income proof, making it ideal for first-time users or those with low credit scores.
- All you need is an Aadhaar Card, PAN Card, and a working mobile number linked to your Aadhaar.
5. Exclusive Rewards and Discounts
- Joining Benefits: Get rewards worth ₹21,000+, including a 3-month Disney+ Hotstar subscription, discounts on flights and bus tickets via Paytm Travel, and a complimentary Paytm First membership with benefits from top brands like Gaana Plus, Netmeds, Domino’s, Myntra, and Swiggy.
- Welcome Reward: Receive ₹1000 ZCoins (worth ₹100) upon card approval.
- Shopping Discounts: Enjoy instant discounts on brand vouchers from Amazon, Flipkart, and more, along with up to 20% rewards on top brands.
- Annual Savings: Save over ₹50,000 annually through joining and shopping benefits.
6. No Hidden Fees
- The card comes with no joining fee, no renewal fee, and no hidden charges, ensuring transparency and affordability.
7. Flexible Credit Limit
- Choose your credit limit by selecting an FD amount that suits your needs. Ideally, set an FD that is at least three times your monthly expenses to keep your credit utilization below 30%, as recommended by CIBIL for a healthy credit score.
Eligibility Criteria
The SBM ZET Credit Card is designed to be accessible to a wide range of applicants. Here are the eligibility requirements:
For Salaried and Self-Employed Individuals
- Age: 18+ years.
- Type: Individuals looking to improve their credit score.
- Documents Required: Aadhaar Card, PAN Card, and a working mobile number linked to Aadhaar.
- Other Requirements: Must be an Indian resident.
No income proof or existing credit score is required, making this card an excellent option for young professionals, freelancers, and those new to credit.
How to Apply for the SBM ZET Credit Card
The application process for the SBM ZET Credit Card is straightforward and can be completed through the ZET app or the designated webpage. Follow these steps to get started:
Step 1: Gather Required Documents
- PAN Card.
- Aadhaar Card.
- A mobile number linked to your Aadhaar.
Step 2: Download the ZET App
- Use the link shared by your advisor to download the ZET app or visit the webpage to begin the application process.
Step 3: Choose Your FD Amount
- Select your FD amount (minimum ₹5,000, maximum ₹25,000) to determine your credit limit.
Step 4: Complete the Application
- Verify Identity: Enter your mobile number and email ID, and submit the OTPs sent to both.
- Enter Personal Details: Provide your PAN card number, name as per PAN, date of birth, and Aadhaar number. Submit the OTP sent to your mobile for Aadhaar verification.
- Provide Additional Information: Select your marital status, enter your full name, mother’s maiden name, community, educational qualification, employment type, occupation/industry, gross annual income, and source of funds/wealth.
- Enter Address: Provide your permanent and communication addresses.
- Review and Submit: Review your application, accept the terms and conditions, and submit it by entering the OTP.
Step 5: Make the FD Payment
- Select your FD deposit amount, enter your account number, and confirm the IFSC code.
- Choose your preferred payment mode and complete the deposit.
Step 6: Complete Video KYC
- Schedule a video KYC call at your convenience. Have your original PAN card, a blank sheet of paper, and a pen ready.
- Ensure you’re in a well-lit area with good internet connectivity, and avoid wearing spectacles, masks, or hats during the call.
- The video KYC process takes up to 48 hours to complete. If it fails, your FD will be refunded within 72 hours.
Step 7: Activate Your Card
- Once approved, activate your virtual card for immediate use. Enable online transactions and set spending limits.
- Your physical card will be delivered within 5-7 business days.
Tips to Maximize Your SBM ZET Credit Card
To make the most of your SBM ZET Credit Card and improve your credit score quickly, follow these tips:
- Pay Bills on Time: Timely payment of bills and EMIs is crucial for building a strong credit score.
- Keep Credit Utilization Low: Maintain your credit utilization below 30% to demonstrate responsible credit management.
- Use the Card Regularly: Make small, regular transactions and pay them off promptly to establish a positive credit history.
- Monitor Your Credit Report: Check your credit report periodically for errors and dispute any inaccuracies.
- Avoid Frequent Applications: Applying for multiple credit products in a short period can negatively impact your score.
- Leverage Rewards: Use the card for everyday purchases to earn ZCoins and take advantage of discounts on top brands.
Frequently Asked Questions (FAQs)
1. How is the SBM ZET Credit Card different from other credit cards?
The SBM ZET Credit Card is a secured card backed by an FD, making it easier to get approved without a high credit score or income proof. It has no joining or annual fees and offers the same perks as regular credit cards, including rewards, secure transactions, and UPI payment flexibility.
2. Can I make UPI payments with the SBM ZET Credit Card?
Yes, the card supports UPI payments through third-party apps, allowing seamless online and offline transactions with a 45-day interest-free period.
3. What is the minimum FD amount required?
The minimum FD amount is ₹5,000, and the maximum is ₹25,000. Set an FD based on your monthly expenses to maintain healthy credit utilization.
4. How fast can I improve my credit score?
Your account will be reported to credit bureaus within 30-45 days of activation. Significant improvements may take several months or more, depending on your usage and payment habits.
5. What happens if my video KYC fails?
If your video KYC fails, your FD will be refunded within 72 hours.
Why Choose the SBM ZET Credit Card?
The SBM ZET Credit Card is more than just a credit card—it’s a tool to build financial discipline and achieve a strong credit score. With its low entry barriers, no hidden fees, and a range of exclusive rewards, it’s an ideal choice for anyone looking to establish or improve their credit profile. Whether you’re a student, a young professional, or someone rebuilding their credit, this card offers the flexibility and support you need to succeed.
By combining the benefits of a secured credit card with UPI functionality and attractive rewards, the SBM ZET Credit Card stands out as a game-changer in the world of personal finance. Apply today through the ZET app or webpage, and take the first step toward a brighter financial future!
