Paisabazaar Paisa Plus Credit Card
Keep1.5% back online for a ₹10,000 deposit, and the ₹499 fee disappears at ₹50,000 of spend.
a year at ₹40,000 a month, after the fee
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
Welcome: None published — neither the KFS nor the rewards document carries a welcome benefit.
Priced on the everyday mix — 30% groceries · 10% utilities · 20% travel · 6% fuel · 34% everything else — with this card's published category rules applied: it earns nothing on utilities and fuel here, so that spend is dropped, not paid at the headline, and stops pacing milestones and the waiver. Plus milestones, minus the fee. No accelerator credit — the ranking model on /compare adds ~20% of spend at the card's best accelerator, so its ₹ for this card reads higher.
How these numbers are computed — and why the rankings show a bigger one →
Spend tiers, milestones and fee waivers included, at our house ₹/point. Portal and category multipliers can push higher — run your exact number →
Breaks even only by erasing its fee at ₹5,000 a month
At ₹5,000 a month — ₹60,000 a year — on the everyday mix this card returns ₹500 gross (earn ₹500) against a fee of ₹0 — the ₹499 is waived, the spend having cleared ₹50,000 a year = ₹500 net — the first rung at or above ₹0. The ladder runs in ₹1,000 steps to ₹1,00,000 a month and ₹10,000 steps to ₹5,00,000; figures are rounded to the hundred, and the accelerator is never credited.
2 notes on the card itself: how it is issued · why it ranks #414
Why #414 1.5% back on online spend for a fee that waives at ₹50,000 a year, on a card anyone with ₹10,000 to deposit can get — the best straight cashback rate among India's secured cards. It ranks no higher because the ₹3,000-a-month ceiling caps it hard and there is no lounge, no transfer route and, per SBM's own KFS, no foreign-currency capability at all.
Paisabazaar prices its own unit and the answer is the rupee: "1 Cash point = 1 INR; No redemption fee", and the points are "adjusted against the customer card outstanding amount" — a statement credit, not a voucher. Two frictions the rate does not show: the minimum redemption is ₹500, and cash points expire one year from the date they are earned.
The take
Paisa Plus is the better of Paisabazaar's two SBM cards and, on rate alone, the best straight cashback among India's secured cards. Deposit ₹10,000 with SBM Bank and online spend pays 1.5%, everything else 1%, in cash points that are rupees — "1 Cash point = 1 INR" — credited straight against your card outstanding rather than parked in some catalogue. Nothing to join, and the ₹499 annual fee waives the moment you spend ₹50,000 in a year, which is ₹4,200 a month. The ceiling is the thing to understand before you get excited. Accrual is capped at 500 cash points a day and 3,000 a month — ₹3,000, or ₹36,000 a year at the absolute maximum, and you reach it at ₹3 lakh of monthly spend on the base rate. Below that it is a clean 1–1.5%; above it the card stops paying entirely. UPI transactions under ₹2,000 earn nothing at all, and the exclusion list is long: fuel, rent, utilities, education, insurance, government, jewellery, wallet loads, EMI and cash. There is no lounge, no transfer partner and no travel benefit — and SBM's KFS prints "Forex Fee: N/A", which is not a zero markup but an absence of a foreign-currency proposition. Take it for the domestic online cashback and the credit file, and read the cap before you plan around it.
Your renewal — keep, downgrade or cancel
This card reaches break-even by ERASING its fee, not by out-earning it: the waiver is the decision.
Keep, downgrade or cancel
₹499/yr at stake · 5 spend bands
The charge ₹0 joining, then ₹499/yr
The waiver ₹50,000 of spend in the year before renewal — about ₹4,167 a month — and the renewal fee is not charged.
Break-even ₹5,000 a month — ₹60,000 a year — is where this card's value crosses its fee, and it gets there by erasing the fee at the waiver rather than out-earning it.
At your spend
₹2,500 a year, net of the fee, at ₹3,00,000 of annual spend — this clears the waiver, so no fee is charged
₹5,000 a year, net of the fee, at ₹6,00,000 of annual spend — this clears the waiver, so no fee is charged
₹10,100 a year, net of the fee, at ₹12,00,000 of annual spend — this clears the waiver, so no fee is charged
₹30,200 a year, net of the fee, at ₹36,00,000 of annual spend — this clears the waiver, so no fee is charged
₹36,000 a year, net of the fee, at ₹60,00,000 of annual spend — this clears the waiver, so no fee is charged
Everyday earn plus milestones, minus the fee — the same model as the value panel above, so the two cannot disagree. run your exact spend →
Your copy of this card
You hold this card.
Kept on this device, in your browser. It is never sent to us, never synced, and nothing else on the site reads it yet.
The downgrade
SBM Bank (India) publishes no document naming a card you can step down to, so we name none — an invented product change is a phone call you would waste. That leaves keep or cancel, and the numbers above are the whole of it.
If you call to cancel
What the bank offers to keep you is the one fact this desk cannot compute. We are collecting those reports — dated, and only in aggregate — before publishing any: an offer one reader was made is not one you are owed. Called about this card? Tell us what they offered →
The desk publishes subscribable .ics feeds for the dates it knows — offer deadlines, devaluations, expiry audits. Your renewal date is not one of them: only your statement knows it.
What's good
- 1.5% back on online spend with a fixed deposit of ₹10,000 or more; 1% on everything else
- Cash points ARE rupees — "1 Cash point = 1 INR" — and they are adjusted straight against your card outstanding
- Nothing to join; the ₹499 annual fee waives on ₹50,000 of spend before the renewal date
- Secured on an SBM fixed deposit from ₹5,000, with the credit line at 90% of the deposit and no income proof
- No redemption fee, and up to 45 days interest-free
Watch out
- HARD CAP: 500 cash points a day and 3,000 a month — ₹3,000 a month, ₹36,000 a year at most, whatever you spend
- A UPI transaction below ₹2,000 earns NOTHING — Paisabazaar's rule, stated in its own reward document
- Cash points expire one year from the date they are earned, and the minimum redemption is ₹500
- Long exclusion list: fuel, rent, utilities, education, insurance, jewellery, wallet loads, government, gambling, EMI and cash all earn nothing
- SBM's KFS prints "Forex Fee: N/A" — read that as no foreign-currency proposition, not as a zero markup
- The reward document's own fee row says "Joining/ Annual Fee 0", contradicting the KFS's ₹499 AMC. We carry the KFS, which is the fee document
- 42% a year (3.5% a month) on revolving credit; ₹1,000 late fee above ₹50,000 outstanding
- ₹499 to cancel within six months of activation
- No lounge access, no transfer partner, no milestone and no welcome benefit
- A 1% processing fee applies to rent and education payments from 15 July 2026, and it is not refunded if the payment is reversed
What these points actually fly
No live transfer route takes Statement cashback (₹) into a programme that publishes an award chart. These points buy catalogue and portal redemptions, not award seats — so this page has no flight to show you, and will not invent one.
what the cards that DO reach a chart can fly — 2,196 corridors priced →
What earns, what doesn't
13 sourced rules · 8 pay zero
Two rules run at once on this card and both bind. The category list decides WHETHER a spend earns; the accrual cap decides HOW MUCH the card can pay at all — "Daily cap 500 Cash points; monthly cap of 3000 Cash points", which is ₹3,000 a month whatever you spend, because a cash point is a rupee. There is also a channel rule that catches people out: "No Cash Points will be issued in case UPI spends below INR 2000".
- Fuel · excluded Named first in Paisabazaar's exclusion list, "Fuel Spends", and there is no fuel surcharge waiver to compensate
- Rent & property management · excluded "Rent Payment", MCC 6513 and 7349; and from 15 July 2026 SBM adds a non-refundable 1% processing fee on the payment
- Wallet loads · excluded "Wallets loading transactions" in the prose; financial institutions (MCC 6012), quasi-cash (6051) and wire transfers (4829) are on the MCC table
- Utilities (electricity/water/gas) · excluded "Utilities" are named in the exclusion prose
per SBM Bank (India) T&C · rank every card by spend category →
Does your spend count toward the fee waiver?
not published — and we say which
₹50,000 a year is the bar that waives the ₹499 fee. A different question from the one above — earning points and counting toward a threshold are separate rules, and issuers write them separately.
Not published. SBM Bank (India) states what the Paisabazaar Paisa Plus Credit Card earns and does not earn, but has not published which spend categories count toward the fee waiver — the ₹50,000 bar. We won't guess it from the earn table or from a sibling card: Axis published three cards' rules on one day and all three lists differed. If you hold this card and have it in writing from the issuer, send us the document and we'll source it.
Lounge access
0 of 793 tracked doors
No lounge access. This card opens exactly 0 of 793 tracked lounge doors — board with the crowd, or find a card that doesn't →
Can you get it?
income, age and the route in
The cutoffs and the actual route in — not the "apply now" button, the door that opens.
Direct application — no invite list, no banking relationship required.
No income proof and no credit history — Paisabazaar pitches it at people "new to credit or looking to rebuild credit history". Apply through the Paisabazaar app, book an SBM Bank fixed deposit for a tenure of 390 days, and the card is issued against it with a limit of 90% of the deposit, which keeps earning SBM's own rate while pledged. The deposit size decides your earn rate, not your approval: ₹5,000–₹9,999 pays 1% online and ₹10,000 or more pays 1.5%, so the ₹10,000 tier is the one worth aiming at. Redemption and the cash point balance live in the Paisabazaar app.
per the official SBM Bank (India) MITC — figures marked (community) aren't in the PDF; the issuer won't say · filter the board by what you can get →
The fine print
5 of 7 MITC rows published
What the MITC actually says — the rates, fees and cutoffs the brochure skips.
NOT IN THE 2026-08-17 CENSUS — found on SBM's own secured-card page beside the Paisabazaar Step-Up row our coverage did record. Two Paisabazaar cards on one SBM licence, with different fees and different reward constructs. FEE COLUMNS: two separate lines, "Membership / Joining Fee (Rs.) — 0" and "Annual Maintenance Fee (Rs.) — Rs 499 + GST", plus the waiver, "Before your Credit Card renewal date spend ₹50,000 or more in a year and get your AMC fee waived off" — the our published-nil-fee rule shape, free to get and ₹499 to keep. THE CAP IS THE PRODUCT: "Accrual Capping – Daily cap 500 Cash points; monthly cap of 3000 Cash points", so ₹3,000 a month and ₹36,000 a year is the absolute ceiling whatever you spend. Rates depend on the deposit: with a cumulative FD of ₹10,000 or more, online spend pays an effective 1.50% and everything else 1.00%; between ₹5,000 and ₹9,999 both rungs pay 1.00%. "No Cash Points will be issued in case UPI spends below INR 2000". A cash point is a rupee — "1 Cash point = 1 INR" — and points are "adjusted against the customer card outstanding amount", so this is a true statement credit; they expire one year from the date earned and the minimum redemption is ₹500. Excluded: "Fuel Spends, EMI transactions, Wallets loading transactions, ATM withdrawals, Jewellery, Rent Payment, Utilities, Education, Govt Spends, Gambling, Games, Lottery", with an MCC table naming 6513, 7349, 6010, 6011, 6051, 4829 and 6012 among others. FEE CONTRADICTION, recorded not resolved: the reward document's own rate table carries a "Joining/ Annual Fee — 0 | 0" row for both deposit tiers, against the KFS's ₹499 AMC with a ₹50,000 waiver. The KFS is the fee document and is what the card file carries. NO LOUNGE ACCESS and NO NETWORK is named. Secured on an SBM fixed deposit booked for 390 days; credit limit 90% of it. Cancellation ₹499 + GST within six months. SBM-WIDE, from 15 July 2026: a non-refundable 1% processing fee on rental and education payments.
per the official SBM Bank (India) MITC · reviewed 10 Jul 2026
What's changed for this card
nothing tracked yet — which is itself a fact
No tracked devaluations or changes yet — this card's history starts here.
Verified against SBM Bank (India)'s own documents on · the net-annual-value engine, at our house ₹/point
Every document behind this page — 3 of them, each with the day we read it
- official Key Fact Statement — ₹0 joining, ₹499 + GST annual maintenance fee waived at ₹50,000 of annual spend, 42% a year on revolving credit, ₹499 cancellation within six months
- official Rewards document — 1 cash point = ₹1, 1.5% online at a ₹10,000 deposit and 1% otherwise, capped at 500 points a day and 3,000 a month, expiring after one year
- official SBM's secured-card page — the co-brand block naming Paisa Plus, the 390-day FD rule, and the 1% rent and education processing fee effective 15 July 2026