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Paisabazaar Step UP – A Secured Credit Card

Home SBM Bank India Ltd. Paisabazaar Step UP Credit Card

Step UP Credit Card is a secured credit card issued by Paisabazaar.com in collaboration with SBM Bank (India) Ltd. The card is issued against fixed deposits opened with SBM Bank. This card has been primarily designed as a credit score builder product for consumers lacking credit access due to NIL or low credit score. Additionally, it also allows Step UP card users to earn @ 6.00% p.a. from their SBM FDs, one of the highest FD rates available for 1-year FD tenure. The credit card also comes with attractive offers and discounts from Zomato, Swiggy, Nykaa, BookMyShow, Big Basket, Lifestyle, Yatra, Croma, Reliance Digital and many more.

हिंदी में पढ़े
Updated: 23-05-2022 12:01:49 PM

Key Highlights of Step UP Credit Card
Card typeSecured
IssuerPaisabazaar & SBM Bank (India) Ltd.
Payment NetworkRupay
Best suited for
  • new-to-credit consumers
  • consumers having low credit score
  • customers not getting a credit card due to their credit profile or location constraints
  • those seeking higher returns on their FDs
Joining feeNil (Rs. 200 applicable on an FD of Rs. 2,000)
Renewal feeNil
Interest free period20 to 50 days
Credit limit100% of the FD amount (can be topped up anytime till Rs. 1 lakh)
Serviceable locationAcross India
Key Features
  • No bureau check required
  • No income verification required
  • Instant virtual credit card
  • No paperwork required
Reward pointsEarn 1 reward point on every Rs. 100 spent
Redemption of Reward pointsReward points can be adjusted against credit card bill (1 Reward Point = 25p.)
Offers and discounts from Rupay partner brandsAttractive offers and discounts from top brands like Zomato, Swiggy, Nykaa, BookMyShow, Big Basket, Lifestyle, Yatra, Croma, Reliance Digital and many more. Check Offers.
Key Highlights of SBM Fixed Deposit
Interest Rate6%* p.a.
Tenure1 year (auto-renewal)
Min. deposit amount Rs. 2,000
Max. deposit amountRs. 1 lakh
Pre-mature withdrawal facilityYes
Deposit insuranceFDs of up to Rs. 5 lakhs insured by RBI

*The fixed deposit interest rates are subject to change without prior notice.

Apply for Paisabazaar Step UP Credit Card

Step UP Credit Card: Features & Benefits

  • Instant virtual credit card – Start using your credit card instantly without having to wait for the physical card to arrive.
  • Universal eligibility – From students to homemakers to self-employed individuals, all Indian residents are eligible for Step UP credit card.
  • 100% FD amount as credit limit – No need to break your fixed deposit(s) as your card’s credit limit will be equal to your total deposit amount.
  • Reward points – Earn 1 reward point on every Rs 100 spent (reward rate = 0.25%). Also, you can redeem your points in your current month’s statement.
  • No annual fee – From the second year onwards, you don’t have to pay the renewal charges.
  • Builds credit history – The credit card helps individuals in building or improving their credit scores.
  • Contactless payment solution – Right from applying for the credit card to making purchases using virtual card details – users can do it all digitally from anywhere.
  • No hassles – No hassles of opening a savings bank account.
  • Increase your credit card limit anytime – Cardholders can deposit more and increase their initial credit card limit till Rs 1 lakh.
  • Control your daily spends – Set sub-limit on your spends at online and POS and ATM withdrawals.
  • No paperwork required – Except your Aadhaar Card and PAN details, there are no documents required to apply for this credit card.
  • Offers and discounts – Get attractive offer and discounts at partner merchants like:
    • Big Basket: 15% instant discount (up to Rs 300). Offer valid till 29th May 2022.
    • BookMyShow: Get 50% off up to Rs 250. Offer valid till 29th May 2022.
    • Swiggy: Get Rs. 30 cashback* on Swiggy orders of at least Rs. 299. Offer valid till 29th May 2022.
    • Yatra: Up to 25% off on domestic and international flights, hotels and bus bookings. Offer valid till 29th May 2022.
    • Croma: 5% instant discount (up to Rs 1,000) on transactions of Rs 5,000 and above. Offer valid till 29th May 2022.
Apply for Paisabazaar Step UP Credit Card

SBM Fixed Deposit: Features & Benefits

  • High FD interest rates

Earn interest on your SBM Bank FD(s) at 6% p.a. (one of the highest FD rates for 1 year tenure).

  • 100% secure

Fixed deposits of up to Rs 5 lakhs insured by depositor insurance program of DICGC, an RBI subsidiary.

  • Affordable deposit amount

Minimum deposit required by other lenders usually varies from Rs. 10,000 to Rs. 20,000. For this credit card, you need a minimum deposit of only Rs. 2,000.

  • No lock-in period

Users can withdraw their fixed deposit amount anytime; however, this will also close their Step UP credit card.

Apply for Paisabazaar Step UP Credit Card
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