OneCard in collaboration with SBM Bank offers OneCard Lite Credit Card. It is a secured credit card that lets its users earn reward points on every purchase and later redeem them without any charges. One of the great features is that this credit card offers a credit limit of 110% of the fixed deposit amount. Read on to know more about this secured credit card.
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Key Highlights of SBM Bank OneCard Lite Credit Card |
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| Card Type | Entry-level |
| Best Suited for | Building Credit History |
| Joining Fee | Nil |
| Renewal Fee | Nil |
| Minimum FD Amount | Rs. 10,000 |
| Best Feature |
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| Paisabazaar’s Rating | ★★ (2.5/5) |
Note: This Card is not available on Paisabazaar.com. The content on this page is for information only. To express interest in this card, please visit the SBM Bank website.
Also read: Top SBM Bank Credit Cards
| On this page |
SBM Bank OneCard Lite is a secured credit card that lets its users earn reward points on multiple categories, such as travel, lifestyle, shopping and more. Additionally, you can also earn interest on your fixed deposit while using your credit card. Some of the key features and benefits of this credit card are as follows:
You can earn up to 5X reward points via this credit card. However, this is applicable only on select spends. Here are the details regarding the same:
Reward Points: 1 reward point on every Rs. 50 spent via this credit card. For purchase amounts below Rs. 50, fractional points will be credited. For example, if you spend Rs. 25 on a recharge, 0.5 reward points will be credited.
Bonus Reward Points: 5X reward points on top 2 spend categories. To qualify, you must make purchases across at least 3 categories in a month. From these, the top 2 categories would be eligible for 5X rewards.
No Reward Redemption Fee: Redeem earned reward points without any charges.
No Expiry Date: Reward points do not expire and have lifetime validity.
Apart from the reward points, this credit card also offers the below benefits to its users:
Credit Limit: 110% credit limit of the fixed deposit amount, subject to a minimum credit limit of Rs. 11,000 and a maximum credit limit of Rs. 1.10 lakh.
Virtual Credit Card: In addition to the physical OneCard Lite Credit Card, you will also receive a virtual credit card on the app.
Digital Process: Digital on-boarding process to help you activate your OneCard in less than 5 minutes.
EMIs: Convert your purchases into EMIs and earn reward points on EMI transactions or repay EMIs with reward points.
Referral Programme: Earn bonus reward points by referring your friends and family.
Interest-free Period: Interest-free period of 48 days.
Also read: Top Secured Credit Cards in India
SBM Bank OneCard Lite does not charge any joining fee, annual fee and rewards redemption fee from its users. However, some of the other charges are still applicable. Below mentioned are the fees and charges associated with this credit card:
| Type of Fee or Charge | Amount |
| Joining Fee | Nil |
| Annual/ Renewal Fee | Nil |
| Finance Charges | 2.5% to 3.5% p.m. (30% to 42% p.a.) |
| Over Limit Fee | 2.5% of the over-limit amount |
| Late Payment Charges | 2.5% of total amount due (Max. Rs. 1,000) |
SBM Bank offers credit card to both, people with an existing credit history or people who are new to credit. However, the applicant must fulfill the below-mentioned eligibility to apply for this credit card:
| Particulars | Details |
| Occupation | Salaried or Self-employed |
| Minimum Age Requirement | 18 years |
| Minimum Fixed Deposit Amount | Rs. 10,000 |
| Documents Required | Age Proof, Address Proof, Income Proof (if any) |
Suggested read: Top OneCard Credit Cards
SBM Bank OneCard Lite Credit Card is a great option for people who are new to credit and want to start their credit journey. This credit card lets you earn reward points on every purchase. Additionally, it also offers a credit limit of 110% of the fixed deposit amount, which generally is not offered on other secured credit cards. However, this is an entry-level credit card that offers basic benefits and comes with a low rewards rate. So, if you are looking for a credit card that lets you earn decent reward points, then you can look for other rewards credit cards available in the market. Overall, you can apply for this credit card if you are planning to get your first credit card and cannot get approved for other credit cards.
If you are looking for other credit cards that offer benefits similar to SBM Bank OneCard Lite Credit Card, you can refer to the cards mentioned in the table below:
| Credit Card | Annual Fee | Key Features |
| SBM Bank OneCard Lite Credit Card | Nil | 5X reward points on top 2 spend categories |
| Paisabazaar StepUp Credit Card | Nil (Rs. 200 joining fee applicable on an FD of Rs. 2,000) | 1 reward point for every Rs. 100 spent |
| Slice Super Credit Card | Nil | 2% cashback on every transaction |
| ICICI Bank Coral Credit Card Against Fixed Deposit | Rs. 500 | 4X PAYBACK points on dining, grocery and supermarket purchases |
| SBI Card Unnati | Nil (first 4 years), Rs. 499 (5th year onwards) | 1 reward point for every Rs. 100 spent |
Q. How can I apply for SBM Bank OneCard Lite Credit Card?
A. You can apply for this credit card through both online as well as offline modes. To apply online, you can visit the official website of OneCard or SBM Bank. You can also apply online through the mobile app of OneCard. People, who want to apply offline, can visit the nearest branch of SBM Bank to fill the application form.
Q. What all documents are required to apply for SBM Bank OneCard Lite Credit Card?
A. In order to apply for this credit card, you have to submit valid identity proof, age proof and income proof (if any). These are the general documents that apply to all the applicants. However, the bank can also ask for any other document, if required.
Q. What is the maximum credit limit offered on this credit card?
A. When it comes to the credit limit, this credit card offers a 110% credit limit of the fixed deposit amount. However, the minimum credit limit offered on this credit card is Rs. 11,000 and the maximum credit limit can range up to Rs. 1.10 lakh. The credit limit differs from applicant to applicant, as it depends on the applicant’s income and eligibility.
Q. How can I build credit history through SBM Bank OneCard Lite Credit Card?
A. OneCard Lite Credit Card offered by SBM Bank is best suitable for people who are new to credit because of its relaxed eligibility. Anyone, who is new to credit, can apply for this credit card and start building his/ her credit history. While building your credit history, make sure you make payments on time and maintain your credit utilization ratio to improve your credit score.
Q. Can I withdraw money using this credit card?
A. Yes, you can withdraw money using this credit card through any ATM within or outside the country. However, the bank will charge a cash advance fee for withdrawing cash through your credit card. Hence, it is advisable not to withdraw cash using your credit card until it’s an emergency.
Q. What is the minimum fixed deposit amount required to apply for this credit card?
A. SBM Bank OneCard Lite Credit Card is a secured credit card that is offered against a fixed deposit. The applicant has to submit a minimum fixed deposit of Rs. 10,000 to apply for this credit card.
Q. Is SBM Bank OneCard Lite a virtual credit card?
A. SBM Bank OneCard Lite Credit Card is offered as both plastic as well as a virtual credit card. Before receiving the physical credit card, cardholders will receive a virtual credit card on the mobile app. However, the physical credit card will be delivered within 10-15 working days.
