SBM ZET Credit Card
The SBM ZET Credit Card is an app-first, lifetime-free RuPay credit card from the ZET app, issued by SBM Bank India. It is a secured card backed by a fixed deposit from as little as ₹2,000 (the FD is DICGC-insured up to ₹5 lakh and earns up to 7% interest), so it needs no prior credit history and is built specifically to help thin-file users build a 750+ CIBIL score. Being a RuPay card it links to any UPI app for scan-and-pay, earning 2% flat cashback on ZET UPI (with the ZET Plus subscription), plus a strong stack of brand offers — up to 20% off on Swiggy, Zomato, Instamart and BookMyShow, 5% on Amazon Pay and Flipkart vouchers, and up to 15% on 80+ brand vouchers. The FD keeps earning interest while the card builds your score.
Key features
What this card is built to do — the highlights that actually matter.
2% on Other
2% flat cashback on ZET UPI (with ZET Plus); plus up to 20% off Swiggy/Zomato/Instamart/BookMyShow, 5% on Amazon Pay & Flipkart vouchers, up to 15% on 80+ brand vouchers
Lifetime Free
No annual fee — ever. Keep this card long-term without any recurring cost.
UPI Linked
Link to PhonePe, GPay or Paytm and earn credit card rewards on UPI payments
Full reward structure
| Category | Type | Rate | Monthly cap |
|---|---|---|---|
| Other | cashback | 2% | — |
Fees & charges
| Charge | Amount |
|---|---|
| Annual fee (incl. 18% GST) | Lifetime free |
| Joining fee (incl. 18% GST) | Free |
| Finance charge (APR) | 3.5% p.m. |
| Forex markup | 2.49% |
Should you get it?
Best for: Thin-file user building a 750+ credit score, UPI-first spender who will use the ZET voucher offers
Entry tier — great for first-time and lower-spend users.
Strongest value if you spend heavily on Other ( 2% back).
✓ Pros
- Lifetime-free, FD-backed RuPay/UPI card
- Easy approval from a ₹2,000 FD — no credit history needed
- FD is DICGC-insured and earns up to 7% while you build credit
- Rich brand-voucher offers plus 2% on ZET UPI
✕ Cons
- Secured card — requires a fixed deposit (from ₹2,000) as collateral
- The flat 2% on ZET UPI needs the paid ZET Plus subscription
- App-first card; no lounge or premium perks
Eligibility & documents
Age
18 –65 years
Employment
Salaried · Self-employed · Student
Documents required
- PAN card
- Aadhaar / valid address proof
How to redeem rewards
Ways to convert what you earn into real value.
🎁 Cashback and brand offers via the ZET app
🎁 Earn on ZET UPI transactions
What your Cashback are worth
Realistic value per point by redemption route — the difference is what most people leave on the table.
Statement credit Direct cash adjustment — no conversion
The concern It is a secured (FD-backed) card and the flat 2% needs the ZET Plus subscription, so the headline value leans on the brand-voucher offers rather than a high base rate.
The bottom line
The SBM ZET Credit Card provides an accessible and cost-free pathway for new-to-credit individuals to establish their credit profile. With a low minimum deposit of ₹2,000 earning up to 7% interest, RuPay-UPI functionality with 2% cashback via ZET UPI, and attractive partner merchant discounts, it offers solid functional utility without any recurring maintenance fees.
Sources & verification
Fees, reward rates, and benefits for the SBM ZET Credit Card are taken from SBM Bank India 's official Most Important Terms & Conditions (MITC) and fee schedule — see the card's official page . Last verified 8 Aug 2026 . Reviewed by Devchandra Sah . Always confirm current details on the issuer's site before applying. How we research →
Independence. CardAdvisor is an independent editorial publication. We are not affiliated with, endorsed by, sponsored by, or authorised to act for SBM Bank India . All issuer names, product names, and payment-network marks are the property of their respective owners and appear here for identification and comparison only. Card faces shown on this site are our own original illustrations — we do not display or host issuer card artwork or logos.
Value timeline
Every real-world change to this card's rewards, fees and benefits we've tracked — newest first, each linked to its source.
Tracking since 2025 · 1 changes · last change May 2025
▲ Revaluation ▼ Devaluation ◆ Neutral / reversed
2025 1 change — 1 neutral
◆ Launch Effective 28 May 2025
SBM ZET Credit Card launched
Lifetime-free FD-backed RuPay credit card via the ZET app
ZET (the credit-building fintech formerly known as OneCode), in partnership with SBM Bank India, launched a fixed-deposit-backed RuPay credit card aimed at thin-file users building a credit history. It is UPI-linked, carries no joining or annual fee, is issued against an FD (the deposit keeps earning interest of up to 7% while backing the credit limit), and needs no prior credit history or income proof.
Verification: CardAdvisor Research · Confidence: Reconstructed
Each change links to the issuer's own document — bank T&C, MITC, notice, press release or product page — where one is public. Where the bank published nothing, it's marked CardAdvisor Research and verified against the card's current terms. Independent of the live terms shown above. This timeline is one card's slice of our market-wide change record across every tracked card.
Embed this timeline on your site Free to use. Facts only — dates, changes and before/after values. Please keep the credit line below the frame: it's the only part search engines can see, and it's what we ask for in return.
Source: SBM ZET Credit Card value timeline — CardAdvisor
“ Cite this timeline Quoting a date or a before/after figure? Copy the HTML version — it credits the record with a working link.
HTML (with link) Plain text Copy
Source: SBM ZET Credit Card value timeline , CardAdvisor (CC BY 4.0).
Want to know if this beats your current card for your spending?
Apply now → Compare with my profile
Applications are submitted to and decided by SBM Bank India . CardAdvisor does not issue cards or process applications.
Find your best card
Answer 5 questions. Get a personalised shortlist with ₹ value estimates.
Find my card →
Quick summary
Type Entry credit card
Reward rate 2%
Best for Thin-file user building a 750+ credit score
Joining fee Free
Annual fee Lifetime free
Reviewed by
Devchandra Sah · Cards tested, miles earned, trips booked — for over a decade
Last verified 8 Aug 2026
How we research →
Useful links
Rewards calculator
Estimate any card’s annual value
Points valuations
What each point is really worth
Latest card changes
Live fee & reward-rate tracker
Market insights
The Indian card landscape
Card data study 2026
280 cards analysed — August 2026
Frequently asked questions
Check your eligibility for this card
Answer a few quick questions and our team will reach out with matching card offers based on your profile.