Step Up Credit Card

Step Up Credit Card is a secured credit card offered by SBM Bank in association with Paisabazaar. This card is issued against an SBM Bank fixed deposit and comes with a credit limit of up to 90% of the fixed deposit amount. The card offers value-back through reward points across all categories. While the card comes with no annual fee, the joining fee varies as per the FD amount. This card is a suitable option for new-to-credit consumers looking to start their credit journey while availing benefits on every spend. Read on to know more about the SBM Paisabazaar Step Up Credit Card and its features.

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Key Highlights of Step Up Credit Card


Card Type	Secured Credit Card (Backed by FD)
Annual Fee	Nil
Reward Points	1 reward point for every Rs. 200 spent
Minimum FD Amount	Rs. 2,000
FD Interest Rate	Up to 6.5% p.a.
Credit Limit	90% of the FD amount
Overall Rating	★★★ (3/5)

Note: The bank is not accepting new applications for this card. The content is for informational purposes only.

Step Up Credit Card: Features & Benefits

Rewards Program

1 reward point on every Rs. 100 spent
Redeem reward points through Paisabazaar app at a value of 1 Reward Point = Rs. 0.25*

Note: E-wallet loading, rent payment, fuel spends, utility payments, insurance premium and related spends, cash advance and EMI payments will not earn any reward points.

*Cardholders are required to redeem a minimum of 400 reward points.

Other Features & Benefits

Credit Limit

90% of the fixed deposit amount (may vary as per the bank's internal policies)

Instant Issuance

Instant virtual credit card issued without any paperwork

Step Up Credit Card: Eligibility Criteria

To be eligible to apply for Step Up SBM Credit Card, you must have and maintain a fixed deposit of minimum Rs. 2,000 with SBM bank via Paisabazaar mobile app or website. You must also note that only the fixed deposits that are in the name of a single individual are eligible for SMB Step Up Credit Card, though nomination facility will be available for the fixed deposits.

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Step Up Credit Card: Fees & Charges

Type of Fee/ Charge	Amount
Joining Fee	For FD of Rs. 2,000: Rs. 500 + Applicable Taxes For FD of Rs. 5,000: Rs. 250 + Applicable Taxes For FD more than Rs. 5,000: Nil
Annual Fee	Nil
Finance Charges	3% p.m. (42.58% p.a.)
Late Payment Fee	For Statement BalanceUp to Rs. 100: Nil Between Rs. 100 & Rs. 1,000: Rs. 250 Between Rs. 1,000 & Rs. 10,000: Rs. 500 More than Rs. 10,000: Rs. 750

How to Apply for Step Up Credit Card?

You can apply for this credit card online through the Paisabazaar app or website by following the steps below:

Step 1: Download the Paisabazaar app or visit the official website of Paisabazaar.

Step 2: Open a fixed deposit account with SBM Bank through the Paisabazaar app or website.

Step 3: Enter the required details, such as name, PAN number, etc.

Step 4: Verify the details by entering the OTP sent to your registered mobile number.

After successful verification, your application will be submitted and the card will be approved as per the bank's eligibility terms.

Should You Apply for Step Up Credit Card?

SBM Paisabazaar Step-Up Credit Card is best suited for those who are planning to start their credit journey and want a card to build their credit profile. Cardholders can avail this credit card as lifetime free (depending on the FD amount) and without any income proof or additional paperwork. This credit card also allows you to save on everyday spends by offering 1 point per Rs. 100 spent across all categories, which can be redeemed against cash at a value of Rs. 0.25 per point. This card is a suitable option to build your credit profile while availing benefits on your spends.

Opt for this card If:

You want an entry-level lifetime free card
You are a beginner who is new to credit
You have a low credit score or do not have any credit history
You want a basic rewards credit card to get a better understanding of how credit cards work

Look for other options if:

You do not mind paying an annual fee for a card with better value-back
You have a good credit score and do not want a secured credit card
You are looking for a card with cashback or category-specific benefits

FAQs

What is annual fee for Step Up Credit Card?

This credit card does not charge any annual fee. However, it charges a joining fee depending on the FD amount. For an FD of Rs. 2,000, the joining fee is Rs. 500 plus applicable taxes. For an FD of Rs. 5,000, the joining fee is Rs. 250 plus applicable taxes and for an FD above Rs. 5,000, there is no joining fee.

Can I apply online for Step Up Credit Card?

Yes, you can apply online for this credit card through Paisabazaar’s app or website. You are required to open an FD account with SBM Bank through Paisabazaar’s app or website to be eligible for this credit card.

Can I earn rewards on fuel spends with Step Up Credit Card?

No, this credit card does not offer reward points on select categories, including e-wallet loading, rent payment, fuel spends, utility payments, insurance premiums and related spends, cash advances, and EMI payments.

What is the credit limit of Step Up Credit Card?

SBM Paisabazaar Step-Up Credit Card is a secured credit card issued against a minimum fixed deposit of Rs. 2,000. The card offers a credit limit of up to 90% of the FD amount.