Hey guys, I’ve been looking into the SBM ZET Credit Card and saw that it’s an FD-backed card. Does anyone know the minimum fixed deposit amount required to get approved? Also, is the limit always linked to the FD value? Any recent experiences would help.
I got the SBM ZET Credit Card around 8 months ago and yeah, it’s one of those FD-backed things which was actually perfect for me since my credit score was kinda meh back then. SBM wants at least ₹25,000 as FD to even consider giving you the card, though I ended up putting ₹50,000 because I wanted a decent spending limit and didn’t want to look broke.
Every now and then SBM would send random FD offers (better interest or lower entry amounts) but that basic ₹25k requirement never budged from what I saw.
| What actually went down with my FD setup | How much I needed | What limit I got | What really happened to me |
|---|---|---|---|
| Getting started (What they wanted from me first) | ₹25,000 bare minimum | Around 80-85% of FD | Put in ₹50k, they gave me ₹42k limit |
| Bumping up later (Adding more FD for higher limit) | Whatever extra I wanted | Same 80-85% deal | Threw in another ₹25k, got ₹63k total |
| FD interest (What they paid me on my locked money) | 6.5% yearly | That’s it | At least better than my crappy savings account |
| Limit negotiations (Trying to get more than FD) | Not happening | Hard 85% cap | Begged for more, they laughed at me |
| Getting money back (When I wanted my FD returned) | Had to kill the card | Everything back | Couldn’t just reduce FD, all or nothing |
Annoying crap I dealt with during this whole thing:
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No matter how perfectly I paid my bills, they’d never give me more than 85% of my FD as limit.
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Adding more money later was a total pain had to go to their branch and do a bunch of paperwork again.
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The 6.5% interest was okay I guess, but I could’ve made more money elsewhere.
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When I wanted some of my FD back, they said I had to close the entire card no partial withdrawals.
So basically: ₹25,000 minimum FD to get in the door, and your spending limit will forever be stuck at around 80-85% of whatever you deposit good if you’re trying to build credit history but pretty limiting once you get your financial act together.
