SBM ZET Credit Card Review 2026: 2% UPI Cashback, ₹2,000 FD & 90% Credit Limit
The SBM ZET Credit Card is an FD-backed secured credit card designed primarily for people who are new to credit, have a limited credit history, or want a credit card without depending heavily on their income or existing CIBIL score.
Unlike a conventional unsecured credit card, the SBM ZET Credit Card is backed by a fixed deposit. You create an FD through ZET, and the card provides a credit limit of up to 90% of the FD amount. The current ZET website states that the FD can start from just ₹2,000.
The card also stands out because it combines UPI payments, cashback/rewards, brand offers and credit-building features in one product.
SBM ZET Credit Card – Quick Review
| Feature | Details |
|---|---|
| Card type | FD-backed secured credit card |
| Issuing bank | SBM Bank India |
| Minimum FD | ₹2,000 |
| Credit limit | Up to 90% of FD |
| UPI payments | Yes |
| UPI cashback | Flat 2% through ZET UPI, subject to ZET Plus subscription |
| FD interest | Up to 7% p.a. as advertised by ZET |
| Annual fee | Nil |
| Joining fee | Nil |
| Income proof | Not required |
| Existing credit history | Not required |
| Card network | RuPay variant available |
| Credit-building | Yes |
| Best suited for | First-time users and credit-building |
| Overall rating | 4.2/5 |
What Is the SBM ZET Credit Card?
The SBM ZET Credit Card is a secured credit card against a fixed deposit.
Instead of assessing you primarily on your salary and existing credit score, the card is backed by your FD. ZET currently advertises an FD starting from ₹2,000 and a credit limit of 90% of the FD amount.
For example:
- ₹2,000 FD → up to ₹1,800 credit limit
- ₹5,000 FD → up to ₹4,500 credit limit
- ₹10,000 FD → up to ₹9,000 credit limit
- ₹25,000 FD → up to ₹22,500 credit limit
- ₹50,000 FD → up to ₹45,000 credit limit
The FD continues to earn interest, with ZET currently advertising returns of up to 7% per year, subject to applicable FD terms.
Key Benefits of SBM ZET Credit Card
1. Start with an FD of just ₹2,000
One of the biggest attractions is the low entry requirement.
The current ZET FD Credit Card page states that the fixed deposit starts at ₹2,000, making the card accessible to first-time credit users who may not qualify for conventional cards.
This makes it particularly interesting for:
- College graduates starting their credit journey
- First-time credit card users
- People with limited credit history
- Users who have difficulty getting unsecured cards
- People looking for an FD-backed UPI credit card
2. Get up to 90% of your FD as credit limit
The card provides a credit limit of up to 90% of the FD amount.
This is a useful structure because your FD continues to earn interest while giving you access to a revolving credit facility.
For example, if you create a ₹20,000 FD, your potential credit limit would be approximately ₹18,000.
3. No income proof required
The ZET FD Credit Card is designed to make credit accessible without requiring conventional income documentation.
ZET specifically markets the card for users without income proof and without an existing credit history.
However, applicants still need to complete the required KYC and bank/card onboarding process.
4. Helps build credit history
This is arguably the most important reason to consider the card.
When you use a credit card responsibly and pay your bills on time, your repayment behaviour can contribute to building your credit history.
ZET specifically positions this card as a credit-building product for new-to-credit users.
However, users should not assume that simply getting the card will automatically produce a high CIBIL score. Responsible usage, low credit utilisation and timely repayment remain important.
5. 2% cashback on UPI payments
One of the most attractive features is the ability to use the card for UPI payments.
ZET currently advertises flat 2% cashback on ZET UPI payments. However, the current official terms state that this benefit is available to users with an active ZET Plus subscription, which is currently advertised at ₹3/day.
Therefore, websites should avoid simply advertising:
“2% cashback on all UPI spends”
A more accurate description is:
Earn flat 2% cashback on eligible ZET UPI payments with an active ZET Plus subscription.
This distinction is important when writing a trustworthy credit-card review.
6. Cashback and discounts on popular brands
The card ecosystem also provides offers across a large number of brands and platforms.
ZET currently advertises discounts and cashback across 80+ brands.
Depending on the applicable offer, users can find savings on categories such as:
- Food delivery
- Shopping
- Entertainment
- Travel
- Fashion
- OTT subscriptions
- Lifestyle brands
The exact cashback percentage can vary by merchant, offer and redemption method, so users should check the current offer inside the ZET app before making a purchase.
7. Amazon and Flipkart voucher rewards
The card can be particularly useful for users who frequently purchase vouchers.
ZET advertises rewards on leading brands including Amazon and Flipkart. Its current website broadly advertises up to 10% rewards on top brand vouchers, while older promotional material has advertised different rates for individual brands.
Because these offers can change, users should verify the current voucher rate in the ZET app before purchasing.
8. Food and entertainment offers
The ZET ecosystem also provides promotional offers across brands such as Swiggy, Zomato, Domino’s and other lifestyle and entertainment platforms.
The exact discount, maximum benefit and minimum transaction value can vary according to the current offer.
For this reason, the promotional offers should be treated as value-added benefits rather than guaranteed permanent cashback rates.
SBM ZET Credit Card Fees & Charges
One of the strongest aspects of the card is its fee structure.
The current SBM Magnet/ZET Key Fact Statement lists:
- Joining fee: Nil
- Annual fee: Nil
- Annual fee waiver: Not applicable
The KFS also states that fees and benefits can be revised by SBM Bank.
Important charges to understand
While the card does not charge a joining or annual fee, that does not mean every transaction is free.
The published KFS lists:
- POS/e-commerce interest: 2.5% per month / 30% p.a.
- Cash transaction interest: 3.3% per month / 40% p.a.
- Cash withdrawal fee: 2.5% of withdrawal amount or ₹300, whichever is higher
- FD closure percentage: 1%
These charges make it particularly important to pay the credit-card bill in full and avoid cash withdrawals.
Is the SBM ZET Credit Card Really Lifetime Free?
Yes, ZET currently markets the card as lifetime free, with no joining fee and no annual fee.
However, “lifetime free” should not be confused with “completely free to use.”
Interest, cash withdrawal charges and other applicable charges can still apply.
Most importantly, the 2% UPI cashback currently requires an active ZET Plus subscription, so users who want to use that particular benefit should factor the subscription cost into their calculation.
Is the FD Safe?
The FD is maintained with SBM Bank India.
ZET states that SBM Bank deposits are covered by the DICGC deposit insurance framework, subject to the applicable ₹5 lakh insurance limit and rules.
This is an important advantage compared with putting money into an unregulated lending or rewards product.
The credit card itself, however, remains a credit facility. The FD and credit-card obligations should be considered separately.
SBM ZET Credit Card for UPI – Is It Worth It?
For users who make frequent UPI payments, the card can be attractive.
The major advantage is that it combines:
FD-backed credit + UPI + cashback + credit-building
The 2% UPI cashback is particularly interesting for everyday transactions, but users must remember that the current ZET offer requires an active ZET Plus subscription.
Therefore, the real value depends on how much eligible UPI spending you do.
For example, ₹10,000 of eligible monthly UPI spending at 2% cashback would generate ₹200 cashback before considering the subscription cost and any applicable cashback conditions.
SBM ZET Credit Card for Beginners
This is where the card performs particularly well.
A person with:
- No previous credit card
- No CIBIL history
- Limited income documentation
- Difficulty getting an unsecured credit card
- A small amount available for an FD
may find an FD-backed card easier to start with than a conventional credit card.
The important point is to use the card as a credit-building tool, rather than as extra money.
A good strategy would be:
- Create an FD.
- Use only a small portion of the available credit limit.
- Keep credit utilisation under control.
- Pay the entire bill before the due date.
- Continue this behaviour consistently.
SBM ZET Credit Card – Pros & Cons
Pros
- Low minimum FD requirement of ₹2,000
- Up to 90% of FD available as credit limit
- No income proof required
- Designed for new-to-credit users
- Can help establish credit history
- UPI credit-card functionality
- 2% UPI cashback with the applicable ZET Plus subscription
- Offers across 80+ brands
- No joining fee
- No annual fee
- FD earns interest
- DICGC coverage for eligible deposits
Cons
- Your money is tied to an FD-backed credit facility
- Credit limit is only around 90% of the FD
- 2% UPI cashback requires ZET Plus subscription
- Rewards and merchant offers can change
- High interest rate if you carry an outstanding balance
- Cash withdrawals are expensive
- Not the best card for people looking for premium travel or airport-lounge benefits
- Reward rates should be checked before every major purchase
Who Should Get the SBM ZET Credit Card?
Best suited for:
1. First-time credit-card users
If you have never owned a credit card, this can be an accessible way to begin building a credit history.
2. People with limited or poor credit history
Because the card is FD-backed, it can be an alternative for people who may struggle to qualify for conventional unsecured cards.
3. Students and young professionals
People starting their financial journey may appreciate the low FD requirement and simple credit-building structure.
4. UPI-heavy users
If you frequently make eligible UPI payments, the cashback proposition can add meaningful value.
5. People looking for a lifetime-free card
There is no joining or annual membership fee according to the current KFS.
Who Should Avoid It?
This card may not be the right choice if you:
- Already have several good unsecured credit cards
- Want airport lounge access
- Want premium travel rewards
- Need a very high credit limit
- Frequently carry credit-card balances
- Want a card with extensive airline or hotel benefits
- Don’t want to maintain an FD
If you already qualify for premium unsecured cards, there may be better options depending on your spending pattern.
How to Maximise the SBM ZET Credit Card
The best way to use the card is not simply to maximise spending.
Instead:
Keep utilisation low
If your credit limit is ₹18,000, avoid regularly using the entire ₹18,000.
For credit-building purposes, maintaining relatively low utilisation is generally preferable.
Pay the bill in full
Do not use the card as a long-term loan.
The published interest rate is significantly higher than the return earned on the FD, so carrying balances can quickly eliminate the value of the rewards.
Use UPI strategically
If you already use UPI heavily and the applicable ZET Plus subscription makes economic sense for you, the 2% cashback can make the card more attractive.
Check offers before buying vouchers
Brand-specific reward rates can change. Always check the current ZET app offer before purchasing Amazon, Flipkart or other vouchers.
SBM ZET Credit Card vs Traditional Credit Card
| Feature | SBM ZET Credit Card | Traditional Unsecured Card |
|---|---|---|
| FD required | Yes | Usually no |
| Minimum investment | ₹2,000 currently advertised | Not applicable |
| Income proof | Generally not required | Often required |
| Existing credit history | Not necessarily required | Often considered |
| Credit limit | Based on FD | Based on eligibility |
| UPI | Yes | Depends on card/network |
| Credit building | Yes | Yes |
| Annual fee | Nil currently | Depends on card |
| Best for beginners | Excellent | Depends on eligibility |
| Premium benefits | Limited | Often better |
SBM ZET Credit Card Review: Our Verdict
Overall Rating: 4.2/5
The SBM ZET Credit Card is not designed to compete directly with premium cards offering airport lounges, luxury travel rewards or high-end lifestyle benefits.
Its strength is somewhere else.
It is a simple entry-level secured credit card that combines credit building, UPI payments and rewards.
The ₹2,000 starting FD makes it particularly accessible, while the 90% credit-limit structure allows users to obtain a credit facility without needing to qualify for a traditional unsecured card.
The 2% UPI cashback is another attractive feature, although users should remember that the current offer requires an active ZET Plus subscription.
Our final recommendation
Recommended for: First-time credit users, people building/rebuilding credit, UPI users and people looking for a low-entry FD-backed card.
Not recommended for: Premium-card seekers, frequent international travellers and users who already have strong unsecured credit-card options.
Final score
| Category | Rating |
|---|---|
| Credit-building | ⭐⭐⭐⭐⭐ |
| UPI benefits | ⭐⭐⭐⭐½ |
| Fees | ⭐⭐⭐⭐⭐ |
| Rewards | ⭐⭐⭐⭐ |
| Beginner friendliness | ⭐⭐⭐⭐⭐ |
| Premium benefits | ⭐⭐½ |
| Overall | 4.2/5 |
Bottom line: If your primary goal is to start or strengthen your credit history while getting UPI functionality and everyday rewards, the SBM ZET Credit Card is one of the more interesting FD-backed options to consider. Just make sure you understand the cashback conditions, avoid carrying balances, and check the latest ZET offer terms before applying.
Official application
You can check the latest eligibility, FD requirement, rewards and applicable terms on the official ZET page before applying
Disclaimer: Credit-card fees, cashback rates, merchant offers, subscription requirements and eligibility criteria can change. The information above is based on the currently available ZET/SBM pages and should be verified on the official application page before applying. This article is for informational purposes and is not financial advice.
