SBM Gild Credit Card is a co-branded secured credit card issued by SBM Bank in collaboration with Gild. This secured credit card is issued against SBM FD with a minimum fixed deposit of Rs 10,000 through Gild app. Cardholders can earn Rs 1 of digital gold after redeeming petals earned on each transaction through Gild’s Petal Program. This credit card comes with no joining fees and offers a credit limit of up to 90% of the FD principal amount. The pledged FD opened with SBM Bank would continue to earn FD interest for the cardholders. No income proof documents is required for availing this credit card against FD.
| SBM Gild Credit Card Highlights | |
| Card Type | Secured Credit Card (Backed by FD) |
| Joining Fee | NIL |
| Annual Fee | Rs 499 |
| FD Amount | Minimum Rs 10,000 |
| FD Tenure | 3 years |
| FD Interest Rate | 7.70% p.a. |
| Credit Limit | Up to 90% of the FD amount |
| Petal Reward Program | Earns Rs 1 of digital gold on every petal |
| Interest Free Period | Up to 45 days |
SBM Gild Credit Card – Real Gold Rewards
- SBM Gild Credit Card offers digital gold rewards with Gild’s Petal Program
- Every transaction the cardholder makes earns them up to 0.75% back as petals
- Petals can be adjusted for any refunds or non-settled transactions. The transaction excludes political parties, money transfers, rent, real estate, lotteries and casinos
- The petals have no expiry date and do not include any redemption fees
- The redemption option opens up after earning 2500 petals. The cardholder can redeem petals from the Gild App to convert them to digital gold. The redemption rate is 1:1, i.e. every Petal is worth Rs 1 of digital gold (24K 99.99% pure Digital gold)
- As petals are converted into digital gold, an account is created with SafeGold inside the Gild app where a cardholder can see their accumulated gold
Features of SBM Gild Credit Card
- The credit limit is 90% of the FD amount
- The cash withdrawal is 100% of the available credit limit
- An SBM Bank fixed depositof a minimum Rs 10,000 is required for opening an SBM Gild credit card against FD
- The fixed deposit account opened with the bank will be in auto-renewal mode
- Cardholders can earn a 7.70% FD interest rate on their deposits
- Nomination facility will be available on the FD account
- Cardholders can also top-up their FD by creating a new fixed account within the GILD mobile app
Fees & Charges of SBM Gild Credit Card
Finance Charges
| Particulars | Annual | Monthly |
| Overdue Interest on Extended Credit | 30.00% | 2.50% |
| Interest on Cash Advances | 40.00% | 3.30% |
Services Charged Levied for Transactions
| Particulars | Charges |
| Forex Markup | 2.49% of the transaction amount |
| Repayment Charges | NIL |
| Over limit Fee | NIL |
| Minimum Amount Due | 5% of the total amount due |
Other Fees & Charges
| Particulars | Charges |
| Joining Fees | NIL |
| Annual Fees | Rs 499 |
| Annual Fees Waiver | Annual fees will be waived on spend of Rs 1.5 lakhs |
| Cash Advance Fees | Rs 125 per transaction |
| Interest rate | 2.5% per month (30% per year) |
| Interest Free Period | Up to 45 days |
| Late Payment Fee | Rs 299 |
| Card Replacement Cost | Rs 500 |
