SBM Kredit.Pe Credit Card
KeepA free FD-backed card with a cashback headline nobody will put a price on.
no published earn rate to price
Skip the arithmetic — the board, ranked → · nothing to sign up for
What it's worth to you, after the fee
Welcome: None published — the KFS carries no welcome benefit, and the ₹1,000 sign-up cashback Kredit.Pe advertises belongs to the Yes Bank card it now sells, not to this one.
Not valued. We can't value this card until the issuer publishes how it earns — every net-value number here would be a fee subtracted from rewards nobody has described. Everything we can source — the fee, the charges, the migration that put this card in your hand — is above and stands on its own; this card is simply not on the board, not in the calculator, and cannot win a best-of call until SBM Bank (India) publishes terms we can cite.
Why we decline to value some cards, and what it takes to change that →
2 notes on the card itself: how it is issued · why it ranks #418
Why #418 Carried, not valued. SBM publishes a headline cashback rate for this card and never says what a unit of it is worth, so there is no return this desk can compute — and an uncapped rate taken at face value would compute nonsense. The fee is fully sourced; the earn is not.
The take
On paper this is the loudest cashback headline in SBM's secured range — shop swipes, online purchases and UPI paid through the Kredit.Pe app all carry the same advertised rate, on a card with no membership fee and no renewal fee. In practice there are two things to know before you believe it. First, SBM never says what the cashback is worth. Its own reward construct pairs that headline with a redemption section that reads, in full, "Can be redeemed for additional discounts on popular brands" plus two lines naming brand-specific discounts — a closed loop inside the Kredit.Pe app, not money on your statement, and with no rate attached. Kredit.Pe's own site describes the same thing: discounts on gold, shopping vouchers, ₹10 off a bill. A percentage with no unit price is not a return, so this desk prints none and leaves the card unranked on value rather than flatter it with arithmetic nobody published. Second, Kredit.Pe has moved on. Its website's headline product today is a Yes Bank Ace credit card, and the SBM card survives as a "Card Policies" link in the footer — though SBM itself still lists the card as live with a current KFS and MITC, and an issuer's own page beats a partner's marketing. What is solid: no fee at either end unless your credit line is under ₹4,500, a ₹100 minimum on ATM cash rather than the usual ₹250, and a fixed deposit that keeps earning while it secures the card. What is not: everything about the rewards.
Your renewal — keep, downgrade or cancel
There is no renewal arithmetic to run on this card yet — and a break-even we cannot source is not one we will print.
the whole desk — what changed, the downgrade, and what we cannot price →
Keep, downgrade or cancel
what we can and cannot price
Not valued. We can't value this card until the issuer publishes how it earns — every net-value number here would be a fee subtracted from rewards nobody has described. A break-even is the spend at which value crosses a fee, and we are short one side of that sentence — so this desk prints no ladder, no crossing and no ₹0 standing in for either. What we can source about this card is under Sources.
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 we cannot price either side 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
- No membership fee and no renewal fee — the KFS prints 0 and Nil against both
- SBM advertises the same cashback headline on POS, e-commerce and Kredit.Pe UPI spend
- Secured on an SBM fixed deposit with the credit line at 90% of it — no income proof, no credit history
- Cash withdrawal is capped at a ₹100 minimum fee rather than the ₹250–₹300 its siblings charge
- Up to 45 days interest-free, plus 3 grace days
Watch out
- SBM NEVER PRICES THE CASHBACK. Its reward document pairs the headline rate with redemption "for additional discounts on popular brands" inside the Kredit.Pe app — a closed loop with no published unit value. We will not turn that into a return
- There is no published monthly or annual cashback cap either, which is a reason for caution rather than excitement
- A ₹199 + GST annual maintenance fee applies if your credit limit is under ₹4,500 — that is a fixed deposit below about ₹5,000
- UPI earns only through the Kredit.Pe app; paying through any other UPI app earns nothing
- Long exclusion list: rent, cleaning services, cash, wire transfers, financial institutions, securities, wallet loads, education, insurance, government, gambling and agricultural inputs
- Kredit.Pe's own website now sells a YES BANK card as its headline product and keeps this one only as a footer policy link — SBM still lists it as live, so it is carried as live
- 42% a year (3.5% a month) on purchases and on cash alike; ₹1,000 maximum late fee
- ₹499 + GST to cancel in the first six months; ₹299 + GST to replace the card
- 3.5% foreign markup — the full Indian norm, unlike its 2.49% SBM siblings
- No lounge access appears in the KFS or in SBM's shared secured-card MITC
- 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
SBM Bank (India) has not published what this card earns, so there are no points here to fly with — not zero points, and not points that go nowhere: nothing stated either way. The moment a benefit sheet exists we will price whatever it names.
what the cards that DO reach a chart can fly — 2,196 corridors priced →
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. Apply in the Kredit.Pe 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. Aim above roughly ₹5,000 of deposit: below a ₹4,500 credit line SBM levies a ₹199 + GST annual maintenance fee, and above it the card is free at both ends. Bills can be paid by in-app UPI, through SBM's BillDesk link or over BBPS. Cancel through the app's Manage Cards screen or by writing to creditcard@sbmbank.co.in — inside six months of activation that costs ₹499 + GST.
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.
FEE COLUMNS: THREE rows, and they must be read together — "Membership Fee (Rs.) — 0", "Card Renewal Fee (Rs.) — Nil", and "Annual Maintenance Fee (Rs.) — Rs 199+GST (Applicable for credit limit under ₹4,500)". Membership and renewal are the standing charges and both are nil; the ₹199 is a SMALL-LIMIT SURCHARGE that bites only below a ₹4,500 credit line, which means a fixed deposit under about ₹5,000 (the limit is 90% of the deposit). Secured on an SBM fixed deposit booked for 390 days. Interest-free period 45 days plus 3 grace days. THE REWARD RATE IS PUBLISHED AND THE UNIT PRICE IS NOT: SBM's reward construct says "3% cashback on every ₹100 spent" on offline POS, on e-commerce and on card-via-UPI inside the Kredit.Pe app, and nothing on UPI through any other app — and then prices redemption only as "Can be redeemed for additional discounts on popular brands / 5% on certain brands / 10% on certain brands". A closed loop with no ₹-per-unit and no published cap, which is why the card carries the absent (unpublished) earn rate rather than a computed return. Reward exclusions run to 33 MCCs: 6513 and 7349 rentals; 6010, 6011 and 6051 cash; 4829 wire transfer; 6012 and 7322 finance; 6211 securities; 6540 wallet; 8211, 8220, 8241, 8244, 8249 and 8299 education; 5960, 6300 and 6381 insurance; 7800, 7802, 7995, 9211, 9222, 9311, 9399, 9402 and 9405 government and gambling; 0820–0824 agriculture. NO LOUNGE ACCESS. Card replacement ₹299 + GST; cancellation ₹499 + GST in the first six months. SBM-WIDE, from 15 July 2026: a non-refundable 1% processing fee on rental and education payments. CO-BRAND STATUS NOTE: Kredit.Pe's own site now markets a Yes Bank Ace card as its headline product and keeps this one as a footer policy link; SBM still lists it as live with current documents, so it is carried as live.
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
Not published , and we will not invent it: the earn rate and the currency it earns.
Every document behind this page — 4 of them, each with the day we read it
- official Key Fact Statement — ₹0 membership and Nil renewal fee, a ₹199 + GST annual maintenance fee only below a ₹4,500 credit limit, 42% a year, 3.5% forex, ₹499 six-month cancellation
- official Rewards construct — the cashback headline for POS, e-commerce and Kredit.Pe UPI spend, redeemable as brand discounts in the app, with a 33-MCC exclusion list
- official SBM's secured-card page — the co-brand block listing this card as live, the 390-day FD rule, and the 1% rent and education processing fee effective 15 July 2026
- community Kredit.Pe's own site — its headline card is now a Yes Bank Ace, and this SBM card survives only as an "SBM Kredit.Pe Card Policies" footer link