Best Credit Card

All Benefits

  • Step Up Credit Card is a secured credit card from SBM Bank State Bank of Mauritius, India issued against a fixed deposit of ₹2,000 and above held in a single name, with a credit limit of up to 90% of the fixed deposit amount
  • Earn 1 Reward Point for every ₹100 spent on POS and online transactions, with each point worth ₹0.25 and adjustable against your credit card bill
  • an interest-free period of 20 to 50 days and a 3-day grace period for bill payment after the bill due date
  • No credit score and no income proof are needed to apply

Fees

Joining Fee Slab-based on the fixed deposit amount ₹500 + 18% GST with a ₹2,000 fixed deposit; ₹250 + 18% GST with a ₹5,000 fixed deposit; Nil with a fixed deposit above ₹5,000
₹590
₹500 + GST
Annual Fee Not Applicable
Free
Lifetime Free

Eligibility

Age
21-60 years
Salary
₹25K / Month
Credit Score
720+

Bank Fee Structure

Forex Markup 3.5% forex markup is charged on transactions made in currencies other than INR. Applies to international POS payments and online purchases charged in foreign Currency Examples (3.5%): ₹100 → ₹3.50 ₹1,000 → ₹35 ₹10,000 → ₹350 ₹1,00,000 → ₹3,500
3.5%
Finance Charges (APR) Finance charges of 3% per month 42.58% per annum apply on unpaid outstanding balances until the amount is fully repaid
3%
ATM Withdrawal 2.5% of the withdrawn amount is charged on cash advances using the credit card minimum ₹250, if applicable
2.5%
Reward Redemption No fee is charged when redeeming reward points on this card
Not Applicable
Railway Surcharge A surcharge of 1% is applied to transactions made for booking railway tickets
1%
Rent Payment No Rent fee is charged
Not Applicable
Cheque Payment No Cheque fee is Charged
Not Applicable
Cash Payment No Cash Fee is charged
Not Applicable

Late Payment Charges

Amount dueFee
₹0 - ₹100₹0
₹101 - ₹1000₹250
₹1001 - ₹10000₹500
Above ₹10000₹750

a payment less than the Minimum Amount Due, is received by the payment due date + 3 days. GST applies on late payment charges

Reward Exclusions

Rent PaymentATM Cash WithdrawalsFinancial ChargesWallet LoadsEducation SpendsAgricultureContracted ServicesTransportationUtility Bill PaymentsGovernment-related Transactions

Terms & Conditions

  • The bank may offer a different card variant based on your eligibility; please carefully review the features and benefits of the card offered before submitting your application
  • A minimum transaction of ₹100 within 30 days of card issuance is required to activate the card, failing which you will not be eligible for rewards

Full charges and terms: Bank MITC / Terms