SBM Magnet Credit Card – Features, Benefits, Fees & Charges

Best For

Shopping

Online Food Ordering

Travel

Utility Bills

Joining/Annual Fees

Joining Fees

₹0 ( ₹0 + GST )

N/A

Annual Fees

₹0 ( ₹0 + GST )

N/A

Eligibility

Age Criteria

18-60 years

Salary Criteria

0 LPA

Credit Rating*

See if you are eligible for this card

How to redeem?

Rewards Conversion Rate

1 ZCoin = ₹0.20

Redemption Options

Gift Vouchers: Convert ZET Coins into e-vouchers for major brands like Amazon, Flipkart, Myntra, etc.
Cash Redemption: Redeem ZET Coins as cash, typically at 1 Coin = ₹0.20 (rate may vary).
Platform Discounts: Get instant discounts or rewards on partner platforms (e.g., 20% on Swiggy/Zomato, 8% on Flipkart, 20% on Myntra).

To check redemption catalogue

Click Here

All Card Benefits

All Benefits

Earn ZCoins across top brands including Amazon, Flipkart, Myntra, Zepto, JioMart, HealthKart
Get high ZCoins rewards on food & dining via Zomato, McDonald’s, Domino’s, Burger King, EatSure
Save on travel with ZCoins on Uber, MakeMyTrip, Cleartrip
Enjoy movie & entertainment rewards on PVR, Sony LIV, Cosmopolitan
Earn premium ZCoins benefits on lifestyle & home brands like Urban Ladder
ZCoins earned can be redeemed on the ZET platform as per applicable redemption rules

Bank Exclusions

You will not earn points / cashback on spends in the following categories

For Points / Cashback Earnings

Cash Withdrawals

EMI Transactions

Wallet Loads

P2P Transfers

Rent Payment

Government Payment

Insurance Payments

Education Spends

For Spends Waiver

N/A

Bank Fee Structure

Structure	Details
Forex Markups 2.49% Forex Markups are applied when you use your card for payments in currencies other than INR. This fee applies to shopping on international e-commerce websites or making payments abroad via POS terminals. Below is an example of the forex markup you would pay at 2.49%: ₹100 = ₹2.49 ₹1,000 = ₹24.90 ₹10,000 = ₹249 ₹1,00,000 = ₹2,490 If you make a purchase in foreign currency, you’ll be charged 2.49% on the transaction amount. Be aware that Dynamic Currency Conversion (DCC) may also apply if you choose to pay in INR, with additional charges up to 1.5%.	2.49%
APR Fees APR on retail spends and cash advances is 3.5% per month (42% per annum). Interest is charged if the Total Amount Due is not paid by the due date. Cash advances attract interest from the transaction date with no interest-free period. GST is applicable on interest charges	3.5%
ATM Withdrawl Cash advance fee is 3.5% of the withdrawn amount or ₹300, whichever is higher. Interest is charged from the date of withdrawal with no grace period	3.5%
Reward Redemption Fees	N/A
Link for all T&Cs	Click Here
Railway Surcharge N/A	N/A
Rent Payment Fees 1% of the rent amount, capped at ₹1,500 per transaction + GST (applies to transactions tagged MCC 6513).	1%
Cheque Payment Fees Cheque payment fee : ₹0 (no charge); Outstation cheque fee : Waived.	N/A
Cash Payment Fees N/A	N/A

Late Payment Fees Late Payment Fee of ₹299 + GST is charged if the Minimum Amount Due is not paid within 3 days after the payment due date. This fee is levied on the outstanding balance and is in addition to applicable interest charges	Amount Due
₹0 – ₹1000	₹100
₹1001 – ₹10000	₹500
₹10001 and above	₹750

SBM ZET Magnet Credit Card

All Card USPs