The SBM ZET Credit Card is a secured credit card issued by the State Bank of Mauritius (SBM) in collaboration with the fintech platform “ZET.” This card is designed for users who:
- Have no or a poor credit history
- Are you looking for a credit card backed by fixed deposits (FD)
- Prefer a fully digital, hassle-free onboarding process
This card combines the security of a fixed deposit with the flexibility of a credit card, allowing users to spend, build credit, and enjoy reward benefits all without traditional eligibility barriers.
SBM ZET Credit Card
Key Highlights
- Backed by Fixed Deposit (FD): You need to open an FD with SBM to get this card
- Credit Limit: Usually 90% of the FD amount
- No Annual Fee
- Digital KYC & Online Application
- EMI Option on Big Purchases
- Cashback & Reward Points
- UPI enabled for seamless payments via mobile apps
- No Physical Branch Visits Required
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Features and Benefits
1. Easy Approval (No Credit History Required)
The significant advantage of this card is that even users with no credit score can obtain it, as a fixed deposit backs it.
2. Build or Improve Your Credit Score
Timely bill payments and usage help you build a strong credit score over time.
3. No Annual Charges
There are no joining fees or yearly maintenance charges, which makes it ideal for first-time users.
4. Instant UPI Linking
You can link your credit card to UPI apps like PhonePe, Paytm, or Google Pay for direct payments via credit.
5. Rewards & Cashback
Earn points and cashback on eligible purchases. Details of the reward structure vary based on your usage.
6. FD Flexibility
You can choose your FD amount starting from as low as ₹5000. Your credit limit will depend on this.
7. Convert Big Purchases to EMI
Large purchases can be easily converted into EMIs, helping with better financial planning.
8. 100% Digital Process
From application to card activation, everything is done online.
SBM ZET Credit Card
Eligibility Criteria
- Minimum age: 18 years
- Must be a resident of India
- PAN Card and Aadhaar required
- A fixed deposit (FD) must be opened with SBM
No income proof or CIBIL score is required, which makes it beginner-friendly.
How to Apply for the SBM ZET Credit Card?
Step-by-Step Application Process:
- Apply ZET Click HERE
- Register using your mobile number and KYC documents (Aadhaar & PAN)
- Choose the Credit Card option
- Open a Fixed Deposit in SBM through the app
- Set up a credit card limit (up to 90% of your FD)
- Complete digital KYC verification
- Get your virtual credit card instantly
- A physical card (optional) may be delivered later
FD and Return Details
- Minimum FD amount: ₹5000
- Tenure: 6 months to 2 years (flexible)
- Interest Rate: ~6.5% per annum (may vary)
- Credit Limit: Up to 90% of FD
- You can withdraw FD after maturity or close the card early (with conditions)
Pros and Cons
Pros:
- No credit score required
- FD earns interest
- UPI linked
- Zero annual charges
- Build a credit score
- EMI options available
Cons:
- Requires upfront FD
- Limited reward features compared to premium cards
- Cannot withdraw the full FD until the card is closed
Who Should Consider the SBM ZET Credit Card?
This card is ideal for:
- Students
- New-to-credit users
- Freelancers or self-employed without ITR
- Anyone who wants to build their credit score securely
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Tips to Use This Card Wisely
- Always pay bills on time
- Use it for regular purchases like bills, groceries, and fuel
- Don’t use 100% of your credit limit; maintain 30-50% utilization
- Use UPI for easy tracking
Alternatives to the SBM ZET Credit Card
If you’re considering similar cards, check out:
- OneCard (FD-based)
- ICICI Bank Coral FD Card
- Axis Bank Insta Easy Card
These alternatives also offer secured credit cards with varying benefits.
Final Verdict
SBM ZET Credit Card is one of the best secured credit cards in India for 2025. With simple eligibility requirements, a comprehensive digital process, and UPI compatibility, it’s ideal for students, beginners, or anyone looking to enter the world of credit cards safely. Backed by SBM and powered by ZET, this card helps build your credit score while earning interest on your FD, a win for financially savvy users.
