SBM ZET Credit Card
Keep2.49% abroad, nothing to hold, secured on a deposit that keeps earning — and no reward anyone has written down.
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 SBM publishes no reward document for this card.
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 →
3 notes on the card itself: how it is issued · the network variants · why it ranks #510
Why #510 A 2.49% foreign markup on a card that costs nothing to hold, secured on a deposit that keeps paying — the forex line is the whole reason it is admitted and the whole reason to carry it abroad. It sits here because SBM publishes no reward construct for it at all, so there is nothing to value against the cards above.
The take
The third bank to put its licence behind a ZET-branded card, after DCB and Indian Overseas, and the one worth carrying out of the country. SBM charges 2.49% on foreign spend where the Indian norm is 3.5% — on a card with no membership fee, no annual maintenance fee and no renewal fee, which is an unusual combination on a secured card and the reason this one is admitted at all. The mechanics are SBM's standard secured build: book a fixed deposit for 390 days, get a limit of 90% of it, keep earning SBM's deposit rate — the bank quotes up to 7% a year — while it is pledged, and skip the income proof and the credit check entirely. Bills are paid inside the ZET app by UPI, and the RuPay card links to UPI so a merchant QR draws on the credit line. Now the parts that cost. Interest is 42% a year on purchases AND on cash — where SBM's own Magnet card, on the same licence and the same secured chassis, charges 30% — so this is not the one to revolve a balance on. ATM cash costs 3.5% or ₹300, whichever is higher, with no interest-free period at all. Rent and education payments carry a 1% fee. Cancelling inside the first year costs ₹499. And the reward: there is none we can print. SBM's page for this card describes UPI payments and deposit interest and nothing else, its KFS has no reward row, and the shared MITC points back at a page with no reward construct on it. So we carry the card on its charges and leave the earn blank rather than borrow a rate from the ZET cards two other banks issue.
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
- 2.49% foreign-currency fee — a full point under the 3.5% Indian norm, on a card that costs nothing to hold
- Lifetime free: the KFS prints 0 against the membership fee, the annual maintenance fee and the renewal fee
- Secured on an SBM fixed deposit at 90% of it, with no income proof and no credit history required
- The deposit keeps earning while pledged — SBM quotes up to 7% a year
- RuPay, and UPI-linkable: a merchant QR code draws on the credit line, with bills paid from the ZET app
- Up to 48 days interest-free — a 45-day cycle plus three days of grace
Watch out
- SBM PUBLISHES NO REWARD CONSTRUCT FOR THIS CARD — the KFS has no reward row and the shared MITC defers to a page that describes none, so we decline to print a rate
- 42% a year on purchases and on cash alike, where SBM's own Magnet card on the same secured chassis charges 30%
- Cash has no interest-free period at all, and the withdrawal itself costs 3.5% or ₹300, whichever is higher
- ₹499 plus GST to cancel inside the first year of card activation; ₹249 plus GST to replace the card
- 1% fee on rent payments and 1% on education payments, on top of the 1% surcharge line
- No lounge access appears in the KFS or anywhere in SBM's shared secured-card MITC
- Add-on cards are marked N/A in the KFS — there are none
- Your credit line is 90% of money you have already handed the bank, and preclosing the deposit is its own charge
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.
Through the ZET app, on SBM's licence. Book an SBM Bank fixed deposit for a tenure of 390 days and the card is issued against it at 90% of the deposit; the deposit keeps earning while pledged. Everything after that lives in the app — the available limit, the statement, the bill date (changeable once from the profile section) and the payment, which is made by UPI to a unique SBM Bank handle. Grievances split between the two names on the card: ZET's care@zetapp.in and SBM's customercare@sbmbank.co.in, with SBM's 1800 1033 817 as the escalation. Cancel by the same route, and expect ₹499 plus GST if you do it inside the first year of activation.
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.
Lifetime free on the KFS's own numbers: "Membership Fee (Rs.) — 0", "Annual Maintenance Fee (Rs.) — 0", "Annual Maintenance Fee Waiver Amount (Rs.) — N/A", "Card Renewal Fee (Rs.) — 0". Secured: the limit is 90% of an SBM fixed deposit booked for a 390-day tenure, and the deposit keeps earning while pledged. Interest-free period runs to 48 days — a 45-day cycle plus 15 days to the due date and three days of grace. Card replacement ₹249 + GST; cancellation inside the first year of activation ₹499 + GST; surcharge fee 1%; rent payments 1% and education payments 1%. Minimum due is 5% of the outstanding or ₹100, whichever is greater, plus fees, over-limit and any EMI instalment. NO REWARD ROW EXISTS in this document, and SBM's shared secured-card MITC (md5 94fa3ae4e4b344d4e1f36980583de803) defers the reward construct to a product page that describes none — which is why this card carries no modelled earn. Bills are paid from the ZET app by UPI to a unique SBM Bank handle; grievances split between care@zetapp.in and customercare@sbmbank.co.in.
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 — 3 of them, each with the day we read it
- official Key Fact Statement — zero membership, maintenance and renewal fees, 42% a year on purchases and cash, a 2.49% forex fee, ₹299 late payment and ₹499 first-year cancellation
- official SBM's secured-card page — the RuPay scheme, the 390-day deposit rule and the co-brand block this card sits in
- official Most Important Terms & Conditions and Cardholder Member Agreement — SBM's shared secured credit card document, which defers the reward construct to a page that has none