SBM Bank OneCard Lite

Rewards Program

• 1 reward point for every Rs. 50 spent
• 5X reward points on top 2 spend categories
• To qualify for 5X rewards, you must make purchases across at least 3 categories in a month. From these, the top 2 categories would be eligible for 5X rewards.
• Redeem earned reward points without any charges
• Reward points do not expire and have lifetime validity

Note: For purchase amounts below Rs. 50, fractional points will be credited. For example, if you spend Rs. 25 on a recharge, 0.5 reward points will be credited.

Other Features & Benefits

• 110% credit limit of the fixed deposit amount, subject to a minimum credit limit of Rs. 11,000 and a maximum credit limit of Rs. 1.10 Lakh
• In addition to the physical OneCard Lite Credit Card, you will also receive a virtual credit card on the app
• Digital on-boarding process to help you activate your OneCard in less than 5 minutes
• Convert purchases into EMIs and earn reward points on EMI transactions or repay EMIs with reward points
• Bonus reward points by referring your friends and family.
• Interest-free period of up to 48 days

Also read: Top Secured Credit Cards in India

Particulars	Details
Occupation	Salaried or Self-employed
Minimum Age Requirement	18 years
Minimum Fixed Deposit Amount	Rs. 10,000

Suggested read: Top OneCard Credit Cards

Type of Fee or Charge	Amount
Joining Fee	Nil
Annual/ Renewal Fee	Nil
Finance Charges	2.5% to 3.5% p.m. (30% to 42% p.a.)
Over Limit Fee	2.5% of the over-limit amount
Late Payment Charges	2.5% of total amount due (Max. Rs. 1,000)

SBM Bank OneCard Lite Credit Card is a great option for consumers who are new to credit and want to start their credit journey. This credit card offers reward points on every purchase. Additionally, it comes with a credit limit of 110% of the fixed deposit amount, which is generally not offered by other secured credit cards.

However, this is an entry-level credit card that offers basic benefits and comes with a low reward rate. So, consumers looking for a credit card with decent value-back through reward points can look for other rewards credit cards available in the market. Overall, this credit card is a suitable option for consumers planning to get their first credit card and cannot get approved for unsecured credit cards.

How can I apply for SBM Bank OneCard Lite Credit Card?
You can apply for this credit card through both online as well as offline modes. To apply online, you can visit the official website of OneCard or SBM Bank. You can also apply online through the mobile app of OneCard.

What all documents are required to apply for SBM Bank OneCard Lite Credit Card?
In order to apply for this credit card, you have to submit valid identity proof, age proof and income proof (if any). These are the general documents that apply to all the applicants. However, the bank can also ask for any other document, if required.

What is the maximum credit limit offered on this credit card?
This credit card offers a 110% credit limit of the fixed deposit amount. However, the minimum credit limit offered on this credit card is Rs. 11,000 and the maximum credit limit can range up to Rs. 1.10 Lakh. The credit limit differs from applicant to applicant, as it depends on the applicant’s income and eligibility.

How can I build credit history through SBM Bank OneCard Lite Credit Card?
OneCard Lite Credit Card offered by SBM Bank is best suitable for consumers who are new to credit due to its relaxed eligibility. Anyone, who is new to credit, can apply for this credit card and start building his/ her credit history. While building your credit history, make sure you make payments on time and maintain your credit utilization ratio to improve your credit score.

What is the minimum fixed deposit amount required to apply for this credit card?
SBM Bank OneCard Lite Credit Card is a secured credit card that is offered against a fixed deposit. The applicant has to submit a minimum fixed deposit of Rs. 10,000 to apply for this credit card.

Is SBM Bank OneCard Lite a virtual credit card?
SBM Bank OneCard Lite Credit Card is offered as both plastic as well as a virtual credit card. Before receiving the physical credit card, you will receive a virtual credit card on the mobile app. However, the physical credit card will be delivered within 10-15 working days.