SBM Paisabazaar Step Up Mastercard Credit Card
SBM Bank
Last updated: Feb 03, 2026
₹0
₹500
3.5%
No lounge access
Contents
SBM Paisabazaar Step Up Mastercard Credit Card is a secured credit card issued against a fixed deposit, designed especially for beginners and credit rebuilders. You get a credit limit of up to 90% of your FD amount, basic reward points on day-to-day spends, and a lifetime free structure when you choose a higher FD slab. Since the card does not require income proof or an existing credit score, it is a convenient way to start your credit journey while your FD continues to earn interest. Overall, this FD-backed secured credit card is ideal if you want to build or repair your credit profile safely with controlled limits and simple rewards.
Features of SBM Paisabazaar Step Up Mastercard Credit Card which makes it unique
No Income Proof Required
Apply for a Mastercard credit card only with KYC and FD, without submitting salary slips or ITRs.
Ideal for students, freelancers, self-employed beginners and those without formal income documentation.
Simpler documentation compared to most entry-level unsecured cards.
FD-Linked Lifetime Free Structure
Joining fee reduces as your FD amount increases, and can become completely free above a threshold.
Lets you convert your savings into a useful credit line while avoiding recurring annual fees.
More predictable ongoing costs than many standard beginner credit cards.
Rewards Structure of SBM Paisabazaar Step Up Mastercard Credit Card
All Retail Spends
baseEligible POS and online purchases on the SBM Paisabazaar Step Up Mastercard, excluding restricted categories.
Base reward rate is around 0.25% value back when redeemed as statement credit (1 point = ₹0.25; minimum 400 points for redemption).
Excluded Categories
baseFuel spends, utility bills, rent payments, wallet loads, insurance premiums, cash advances and EMI transactions.
These transaction types do not earn any reward points; plan spends on regular retail categories to maximise benefits.
Fees & Charges of SBM Paisabazaar Step Up Mastercard Credit Card
| Fee & Amount | Fee Value |
|---|---|
| Joining Fee | ₹500 |
| Annual Fee | 0 |
| Forex Markup Fee | 3.5% |
| Cash Advance Fee | 2.5% |
| Late Payment Fee | ₹750 |
| Over Limit Fee | 0 |
| Returned Payment Fee | ₹300 |
| Cash Withdrawal Fee | 3% |
Renewal Conditions:No annual or renewal fee; card stays lifetime free while the linked FD is active.
Fee Explanation Finance charges are 3% per month (42.58% p.a.) on revolving and cash advances. Cash advance fee is 2.5% of the withdrawn amount (minimum ₹250). Overlimit fee is currently not applicable. Foreign currency markup is 3.5% of the transaction amount. Late payment charges range from ₹0 to ₹750 based on total outstanding, as per the latest SBM Bank MITC.
Detailed Explanation of SBM Paisabazaar Step Up Mastercard Credit Card Fees
Joining Fee: ₹500 + GST / ₹250 + GST / Nil (one-time)
₹500 + GST for ₹2,000 FD, ₹250 + GST for ₹5,000 FD, Nil for FD amounts above ₹5,000.
Annual Fee: ₹0 (yearly)
Lifetime free; no annual or renewal fee is charged.
Finance Charges: 3% per month (42.58% p.a.) (monthly)
Applicable on unpaid retail and cash transactions after the interest-free period.
Cash Advance Fee: 2.5% (min ₹250) (transaction)
Charged on every ATM cash withdrawal; interest applies from the transaction date.
Foreign Currency Markup: 3.5% (transaction)
Applied on all international transactions done in foreign currency.
Late Payment Fee: ₹0 – ₹750 (occurrence)
₹0 for up to ₹100; ₹250 for ₹100–₹1,000; ₹500 for ₹1,000–₹10,000; ₹750 for amounts above ₹10,000.
Card Replacement Fee: ₹100 + GST (occurrence)
Payable when a replacement card is issued due to loss or damage.
Additional Features of SBM Paisabazaar Step Up Mastercard Credit Card
Secured Credit Card Against FD
Credit limit is linked to an SBM Bank fixed deposit opened via Paisabazaar.
Minimum FD amount of ₹2,000 is required; up to 90% of the FD value is offered as credit limit.
Instant Virtual Card Issuance
Get an instant virtual Step Up Mastercard after FD booking and KYC approval.
Virtual card is available inside the Paisabazaar app for immediate online shopping and bill payments.
Interest-Free Period
Enjoy an interest-free grace period on retail purchases.
Interest-free period typically ranges from 20 to 50 days, subject to full payment of the previous statement amount by the due date.
App-Based Card Management
Manage your SBM Step Up card fully through the Paisabazaar mobile app.
Use the app to track spends, redeem reward points, lock or unlock the card and manage your linked FD.
Credit Score Building
Designed to help first-time users and thin-file customers build a credit score.
Timely bill payments are reported to bureaus and can gradually improve your credit profile over time.
Welcome Bonus with SBM Paisabazaar Step Up Mastercard Credit Card
Welcome Bonus: NA
Bonus Conditions: There is currently no introductory spend-based welcome offer on this card.
Application Process for SBM Paisabazaar Step Up Mastercard Credit Card
Processing Time
Instant virtual card upon FD creation; physical Mastercard typically dispatched within 7–10 working days.
Online Application
Available
Instant Approval
Available
Step-by-Step Process
Download the Paisabazaar app or visit the Paisabazaar Step Up Credit Card page.
Complete your KYC and open a fixed deposit with SBM Bank India (minimum ₹2,000) through the Paisabazaar platform.
Choose the FD amount and tenure, review the joining fee slab and confirm the FD booking.
Submit basic details like PAN, Aadhaar and personal information, then verify using OTP on your registered mobile number.
After successful verification and lien marking on the FD, an instant virtual Step Up Mastercard is generated, and the physical card is dispatched to your address.
Required Documents for SBM Paisabazaar Step Up Mastercard Credit Card
ID Proof
allAccepted documents:
Address Proof
allAccepted documents:
KYC and FD Documentation
allAccepted documents:
SBM Paisabazaar Step Up Mastercard Credit Card Merchant Acceptance Network
Domestic Acceptance
Wide Mastercard acceptance across POS, e-commerce and QR-based merchants in India for retail transactions.
International Acceptance
Accepted at most international merchants and ATMs wherever Mastercard is enabled, subject to forex markup and RBI rules.
Online Acceptance
Supported for online shopping, bill payments and subscriptions on major Indian and international websites.
Payment Technologies
Mobile Wallet Support:
Excluded Merchants
Eligibility Criteria for SBM Paisabazaar Step Up Mastercard Credit Card
Quick Eligibility Check
Minimum Age
18+
Credit Score
0+
Citizenship
Indian only
Income Requirements
Salaried Applicants
₹0
Minimum annual income
Self-Employed Applicants
₹0
Minimum annual income
Who Can Apply
Important Conditions
- Must open and maintain a fixed deposit of at least ₹2,000 with SBM Bank via Paisabazaar. Only single-holder FDs are eligible. Standard KYC with valid PAN and Aadhaar is required. No income proof or existing credit score is mandatory for approval.
How Approval Is Decided
- Indian resident with valid PAN and Aadhaar.
- Ability to open and maintain a minimum ₹2,000 FD with SBM Bank via Paisabazaar.
- Compliance with SBM Bank’s internal KYC, risk and verification checks for secured credit cards.
Pros of SBM Paisabazaar Step Up Mastercard Credit Card
- Ideal for first-time credit card users who want to build or repair their credit score safely.
- No annual fee and flexible joining fee based on FD amount, effectively making it a low-cost or lifetime free option.
- Straightforward rewards program on eligible retail spends with transparent redemption value.
- Instant virtual card issuance and app-first experience through Paisabazaar for easy management.
Cons of SBM Paisabazaar Step Up Mastercard Credit Card
- Requires locking in money as a fixed deposit with SBM Bank to get the card.
- No co-branded lifestyle, travel, movie or dining offers compared to many regular rewards cards.
- Reward rate is modest and better suited for learning credit card usage rather than heavy rewards optimisation.
- Fuel, rent, utilities, wallet loads and insurance payments do not earn reward points.
Frequently Asked Questions about SBM Paisabazaar Step Up Mastercard Credit Card
Is SBM Paisabazaar Step Up Mastercard Credit Card lifetime free?
Yes, this secured credit card has no annual fee. A one-time joining fee applies only for lower FD slabs and becomes nil for higher FD amounts.
What fixed deposit amount is required for SBM Paisabazaar Step Up Mastercard Credit Card?
You must open an SBM Bank FD of at least ₹2,000 via the Paisabazaar app or website. Higher FD amounts can also be chosen for a larger credit limit.
How much credit limit will I get on the SBM Step Up Mastercard secured credit card?
The credit limit is generally up to 90% of your FD amount, subject to SBM Bank’s internal policies and periodic reviews.
Do I need income proof or an existing credit score to apply for the SBM Paisabazaar Step Up card?
No, this is a secured FD-based credit card, so income proof and an existing credit score are not mandatory. Standard KYC and FD creation are sufficient.
What rewards do I earn on SBM Paisabazaar Step Up Mastercard Credit Card and how can I redeem them?
You earn 1 reward point per ₹100 spent on eligible retail transactions. Points can be redeemed through the Paisabazaar app as statement credit at 1 point = ₹0.25, with a minimum of 400 points required.
Which transactions do not earn reward points on this secured credit card?
Fuel spends, wallet loads, rent payments, utility bills, insurance premiums, cash withdrawals and EMI transactions do not earn any reward points.
Add Your Review
Reviews (0)
No reviews yet
Be the first one to review this card.
