1. Fees and Charges

    1. Joining fees and Annual membership fees for primary cardholder:

      The below fees as applicable, are billed to the card account and are stated in the card statement of the month in which it is charged. The fees may vary for each Cardmember, and from offer to offer. The same is communicated to the Cardmember at the time of applying for the Credit Card.

      Please note that the entire Schedule of Fees and Charges (as mentioned below) benefits and features may change at any point of time at the discretion of SBM Bank. A notice and/or intimation, in this regard, shall be provided to the card holder before implementation of such change.



      Joining Fees


      Annual Fees


      Annual Fees Waiver

      Not Applicable

      FD Closure %


      Cash Advance Fees/ATM Withdrawal Fees

      2.5% of Withdrawal Amount or 300 INR (Whichever is higher)

      Interest Rate for POS/ECOM

      2.5% per month

      30% per year

      Interest Rate for Cash Transactions

      3.3% per month

      40% per year

      Interest Free Period

      Up to 45 Days

      Late Payment Charge

      299 INR

      Physical Statement Fee

      Not Applicable

      Service Charges levied for transactions

      Rewards Redemption Fee


      Surcharge Fee


      Forex Markup


      Over limit Fee


      Repayment Charges


      Minimum Amount Due

      5% of Total Amount Due for POS/ECOM

      10% of Total Amount Due for Cash Transactions

      Card Replacement Fee

      249 INR

      Card Cancellation Fee (if the customer cancels the card in the 1st year of card activation)

      499 INR

      Draw Limits

      Credit Limit

      The Credit limit shall be 90% of the fixed deposit amount. The said Credit Limit may be subject to change at the sole discretion of the Bank from time to time.

      Available Credit Limit

      Available credit limit is communicated to Cardmember at the time of card delivery and in the monthly statements.

      The available credit limit at the time of the statement generation is provided as a part of the monthly statement.

      Cash Withdrawal Limit

      50% of the available credit limit

      GST is applicable on all fees, interest, and charges.

      Late payment charges incurred on Non-Payment of Minimum Amount Due

      299 INR will be levied for late payment on credit card.

      Illustration of Interest-Free (grace) period

      The grace period is up to 45 days. The grace period can vary depending upon the date of purchase. However, if the Total Amount Due is not paid by the payment due date, then there will be no interest free period. For cash advances, interest is charged from the date of the transaction until the date of payment.

      Illustrative Example for Interest-Free Period Calculation

      1. For a statement for the period 1st April to 30th April, the payment due date is 15th of May. Assuming you have paid your previous month's dues in full, the interest free period would be:

        • For the purchase dated 1st April, interest free grace period is from 1st April to 15th May = 45 days

        • For the purchase dated 26th April, interest free grace period is from 26th April to 15th May = 19 days

  2. Billing

  1. Billing Statements:

    SBM Bank will send the Cardmember a monthly statement showing the payments credited and the transactions debited to the Cardmember's account since the last statement.

  2. Minimum Amount Payable:

    Without prejudice to the liability of the Card Member to immediately pay all charges incurred, the Card Member may exercise the option to pay only the Minimum Amount Due (MAD) indicated in the statement by the due date.

    The Minimum Amount Due shall be –

  3. Method of payment:

    Payments towards the Card Account may be made in any of the following ways and Customers can login into ZET Mobile app and make payments toward Credit Card outstanding using:

  4. Billing Disputes Resolution:

    All the Contents of the statement will be deemed to be correct and accepted if the Cardmember does not inform SBM Bank of the discrepancies within 30 (thirty) days of the Statement Date in writing. On receipt of such information, SBM Bank may reverse the charge on a temporary basis pending investigation. If on completion of subsequent investigations, the liability of such charges is to the Cardmembers account, the charge will be reinstated in a subsequent statement along with the associated charges.

    In the event the Card Member disagrees with the charges indicated in the statement, it should be communicated in writing to the correspondence address of SBM Bank within 30 (thirty) days of receipt of the statement, failing which it would be construed that all charges indicated in the statement are in order.

SBM Bank (India) Ltd. 101, Raheja Centre First Floor, Free Press Journal Marg, Nariman Point, Mumbai - 400021,Maharashtra.