| Key Highlights of Step UP Credit Card | |
| Card type | Secured |
| Issuer | Paisabazaar & SBM Bank (India) Ltd. |
| Payment Network | Rupay |
| Best suited for |
|
| Joining fee | Nil (Rs. 200 applicable on an FD of Rs. 2,000) |
| Renewal fee | Nil |
| Interest free period | 20 to 50 days |
| Credit limit | 100% of the FD amount (can be topped up anytime till Rs. 1 lakh) |
| Serviceable location | Across India |
| Key Features |
|
| Reward points | Earn 1 reward point on every Rs. 100 spent |
| Redemption of Reward points | Reward points can be adjusted against credit card bill (1 Reward Point = 25p.) |
| Offers and discounts from Rupay partner brands | Attractive 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 Rate | 7.25%* p.a. |
| Tenure | 367 days (auto-renewal) |
| Min. deposit amount | Rs. 2,000 |
| Max. deposit amount | Rs. 1 lakh |
| Pre-mature withdrawal facility | Yes |
| Deposit insurance | FDs of up to Rs. 5 lakhs insured by RBI |
*The fixed deposit interest rates are subject to change without prior notice.
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, BookMyShow, Swiggy, Yatra, Croma, etc.