SBM Bank Credit Card Against FD – How to Apply?

On 1st December 2018, SBM Bank commenced operations as the 1st universal bank in India to get a banking license from the RBI. Their headquarters are situated in Mumbai and have 600+ dedicated employees working under this bank. 
SBM Credit Cards are designed to suit a versatile customer base. You can get attractive credit facilities, discounts, and rewards by using their FD-backed credit cards. Anyone with a prior credit history or new to it can apply for an SBM bank credit card against FD. 

How to Apply for an SBM Bank Credit Card Against FD?

You can easily apply for an SBM bank credit card against FD online by following the below-stated steps:

• Step 1: Visit the official site of the SBM bank and fill in the application form with your details such as name, DOB, Email ID, phone number, etc.
• Step 2: Enter the OTP sent to your registered mobile number to verify your details.
• Step 3: Check out the different pre-approved offers available
• Step 4: submit the required documents like PAN, address proof, identity proof, etc.
• Step 5: Choose the preferred type of credit card and successfully apply for an SBM credit card against FD.

Fees and Charges of SBM Bank Credit Card Against FD

SBM Bank will charge a varied range of fees depending on the type of credit card you opt for. Moreover, the table below includes some of the common fees:

Note: Kindly go through the terms and conditions of different variants separately to get a specific fee and charge.

Features of SBM Bank Credit Card Against FD

SMB Bank offers varied features as per the types of credit cards you choose. However, here you will get some of the common yet prime features of SBM credit card against FD:

1. SBM bank offers 90% of your fixed deposit amount as a credit limit.
2. You will get a reward of ₹1 on every spend of ₹100.
3. You can apply for a SBM credit card against a minimum fixed deposit amount of ₹2000 up to ₹1 lakh.
4. You would not have to pay any renewal or annual fees.
5. SMB Bank provides accessible virtual credit cards instantly.
6. You can get a 6.50% per annum interest on a fixed deposit of 390 days (auto-renewable).

Eligibility Criteria for SBM Bank Credit Card Against FD

Read on to the eligibility criteria before applying for an SBM bank credit card against FD:

1.  You must be 21 years old to apply for an SBM FD-backed credit card.
2.  SBM Bank allows both self-employed and salaried individuals to apply.
3.  You must be an Indian resident.

Types of SMB Bank Credit Cards Against FD

You will get an extensive array of credit cards against fixed deposits. Along with some common features, every credit card comes with some additional perks and benefits. To learn about their features and specific fees and charges, keep scrolling.

1. SBM Magnet Gild Card

Fees & Charges:

Prime Features:

1. The bank does not charge any annual or joining fees for this credit card.
2.  It is a lifetime-free SBM credit card against FD (without any hidden charges).
3. You would not need any proof of income or physical documentation.
4. SBM provides an interest-free credit period of up to 45 days.
5. You can top-up anytime for unlimited credit.
6. You can earn an interest rate of up to 7%* annually on your fixed deposit. 

2. SBM GILD Rupicard

Fees & Charges:

Prime Features:

1. SBM offers instant cash withdrawal of up to 90% of your credit limit from an ATM nearby.
2. You can use this card for both online and offline purchases.
3. It is a lifetime-free credit card with no hidden charges.
4. You can instantly freeze or block this card in case you lose it.
5. There is no annual or joining fee required.

3. GILD SBM Credit Card

Fees & Charges:

Prime Features:

1. SBM Bank does not charge any interest on cash withdrawals.
2. You would not be charged any joining or annual fee.
3. Bank implies zero loss liability for your SBM Credit Card.
4. You will get an interest of 30% on your revolving credit.
5. SBM Bank offers a renewal fee waiver on this card type.
6. You will get an interest rate of 7.7% on your FD amount.
7. SBM Bank offers a maximum credit limit of up to 50% of your deposit money.

4. Niyo SBM Global credit card

Fees & Charges:

Prime Features:

1. You will need an FD with a minimum ₹5000 to apply for a Niyo SBM Global credit card.
2. You will get an interest-free period of up to 45 days.
3. The minimum amount due is 5% of the total amount due (₹100).
4. This SBM credit card against FD offers you free lounge access worldwide*.
5. You can get a cashback of up to 1% on every domestic spend of yours.

5. SBM Credilio Secured Credit Card (Coming Soon)

Fees & Charges:

Prime Features:

1. You will get an interest rate of your FD amount of up to 7% annually.
2. SBM offers renewal fee waivers on SBM Credilio Secured Credit Card.
3. You will get an interest of 30% on revolving credit.
4. This credit is powered by Visa.
5. The bank offers 1% cashback on all your spending.

Documents Required to Apply for the SBM Bank Credit Card Against FD

Along with the application form, you must have all the below-listed documents handy before applying for an SBM bank credit card against FD.

1. PAN card
2. Aadhaar card
3. Passport
4. Passport-sized photographs of the depositor and nominee, if any
5. Salary slip

Final Words

By opting for an SBM bank credit card against FD, you can get access to various premium banking solutions. SBM Bank offers a diverse range of cards so that you can choose at your convenience. Making an informed decision while choosing an SBM credit card against a fixed deposit helps you reap the maximum benefits during different transactions.

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Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.