SBM ZET Credit Card: FD-Backed RuPay Card on UPI
Why in the news
A fintech and a bank paired up to offer a deposit-secured card to people with thin or no credit record.
Key facts
- Card: SBM ZET Credit Card, secured against an FD.
- FD from ₹5,000; limit up to 90% of it; FD interest up to 7%.
- RuPay network, UPI-compatible, no joining or annual fee.
- No income proof or earlier credit record needed; video KYC and online FD set-up.
Credit-score angle
- Careful use can help build a score above 750; usage goes to credit bureaus.
- Deposit insured up to ₹5 lakh under RBI’s DICGC.
Exam angle
- Partners: ZET and SBM Bank (India).
- Secured card limit is pegged to a deposit (here 90%).