Step Up Credit Card

About Step Up Credit Card

1. Issued by SBM Bank (India) Ltd, in association with Paisabazaar

2. A secured card against a fixed deposit opened at the time of card application.

3. Step up credit card can shield you from a bad credit score and improve your

credit score.

4. Best for those who wish to own a credit card but unable to qualify for the

same.

Step Up Credit Card Features

1. Joining Fee- low joining fee of Rs. 500, excluding taxes

2. Annual Fee - From 2 nd year a fee of Rs. 250 is charged, excluding taxes

3. Interest on Fixed deposit – Higher interest rate of 6.5% on your fixed deposit.

4. Interest Free Period – Interest free grace period range from 20 to 50 days

5. Credit limit - The credit limit for your Step Up card will be 83% of your fixed

deposit amount. Fixed deposit plan worth

a. Rs. 12000 will give credit limit of Rs. 10000

b. Rs. 24000 will give credit limit of Rs. 20000

c. Rs. 60000 will give credit limit of Rs. 50000

6. Digital process – Hassle free

Who should get a Step Up Credit Card?

1. StepUp Credit Card is best suited for individuals with low or poor credit history

2. People who wish to earn rewards on their spends and grow their money at the

same time

Disclaimer: Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

In this blog, we discussed "Step Up Credit Card"

Preeti Kapoor