SBM Bank India & ZET released a new FD-backed credit card in India
New Delhi, 28 May 2025: ZET, a credit-building FinTech platform, has partnered with SBM Bank India to launch the SBM ZET Credit Card, a FD -backed secure credit card.
This card is on the RuPay network. To apply for this card, you’re not required income proof, employment verification, or a credit history. You just need to open a simple fixed deposit starting from just ₹5,000 in SBM Bank India to be eligible for the credit card. Up to 90% of that deposited FD amount will allowed as card limit.
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“A good credit score is essential for accessing better financial products, yet millions of Indians are either new to credit or held back by a low score,” said Manish Shara, Co-founder and CEO of ZET. “With the SBM ZET Credit Card, we are addressing this gap with a simple, secure tool to begin building a credit history.”
The card doesn’t just stop at accessibility—it’s a smart savings option too. Deposits earn up to 7% interest annually and are fully insured up to ₹5 lakh under DICGC, offering peace of mind while users build their credit profile.
“The SBM ZET Credit Card embodies our mission to create inclusive financial solutions,” said Kumar Anshumali, EVP – Credit Card, Partnerships and Digital Initiatives, SBM Bank India. “This product helps first-time borrowers take control of their financial journeys with ease and security.”
