What is the annual fee for a Step Up Credit Card?

You do not need to pay any annual fee for a Step Up Credit Card by SBM Bank. However, the joining fee varies based on the fixed deposit amount you have with SBM Bank.

What reward points can I earn with Step Up Credit Card transactions?

You can earn 1 reward point for every ₹100 spent using your Step Up Credit Card by SBM Bank. Each reward point is equivalent to ₹0.25, which you can adjust with the credit card bill.

What is the credit limit of a Step Up Credit Card?

You can get up to 90% of the fixed deposit amount as your credit limit with a Step Up Card by SBM Bank. If you need a higher credit limit, ensure you book a fixed deposit of a significant amount.

What is the interest rate on Step Up Credit Cards?

The interest rate applicable to the Step Up Card is 3% per month and 42.58% per year. You can avoid paying interest if you pay your credit card bill within the stipulated date.

Can I earn reward points against cash transactions with a Step Up Credit Card?

A Step Up Card by SBM Bank does not provide reward points on cash transactions. However, you can earn rewards on POS and online transactions.

Step Up Credit Card by SBM Bank: Features, Eligibility and Charges

Name: Step Up Credit Card by SBM Bank: Features, Eligibility and Charges
Brand: Credit Card
Rating: 4.9 (9875 reviews)

Do you know that you can get a Step Up Credit Card from State Bank of Mauritius (India) if you have a fixed deposit of at least ₹2,000? The minimum fixed deposit amount helps you get a secured credit card even if you have a low credit score. Explore the features, eligibility, fees and late payment charges for this card before you apply to make an informed decision.

Features of SBM Step Up Credit Card

Step Up Credit Cards by State Bank of Mauritius (SBM) is a secured credit card available against fixed deposits of ₹2,000 and above. Here are the other features of this card:

You can get up to 2% fuel surcharge waiver on the transaction amount.
As a cardholder, you can enjoy an interest-free period between 20 days and 50 days.
The card offers a 3-day grace period for bill payment after the bill due date.
You can get a credit limit of up to 90% of the fixed deposit amount.
To apply for the card, you do not need a credit score.
You can apply for this card without any income proof.

Step Up Credit Card Eligibility Criteria

The eligibility criteria to apply for a Step Up Credit Card with SBM Bank is that you need to have a fixed deposit of at least ₹2,000 with the bank. Ensure the fixed deposit is in a single name and not in a joint name.

Fees and Charges Associated with Step Up Credit Card

The joining fee for a Step Up Credit Card varies based on the amount of fixed deposit you book. Here are the fees and charges that you need to know:

Parameter	Applicable Fees
Joining fee with a ₹2,000 fixed deposit	₹500 + 18% GST (Goods and Services Tax)
Joining fee with a ₹5,000 fixed deposit	₹250 + 18% GST
Joining fee with a fixed deposit above ₹5,000	Nil
Renewal fee/annual fee	Nil
Cash advance fee	2.5% of the withdrawn amount or at least ₹250
Foreign currency transaction charge	3.5% of the transaction amount
Duplicate statement request beyond 3 months	₹100
Physical card replacement fee	₹200 + GST

Late Payment Charges Associated with SBM Step Up Card

If you miss a credit card bill payment or have an outstanding amount beyond the bill due date, the due amount on the co-branded credit card by SBM Bank and Paisabazaar will attract a late payment fee. This fee varies based on the outstanding amount as follows:

Amount Outstanding	Late Payment Fee
Up to ₹100	Nil
Between ₹100 and ₹1,000	₹250
Between ₹1,000 and ₹10,000	₹500
Above ₹10,000	₹750

If you are exploring more secured credit card options beyond this one, you can also check out the Suryoday Bank–Stable Money Credit Card. It is backed by a fixed deposit that earns up to 8.10% interest per annum and is DICGC-insured up to ₹5 lakh.

So download the app now to book your FD instantly and apply for the credit card directly through the Stable Money app, no waiting required!

Frequently Asked Questions