SBM Magnet Gild Card

Apply for the best credit card of Sbm Bank

Last updated:28-Dec-24 Writen by Narendra User Profile
SBM Magnet Gild Card
  • Best suitable for: Cashback
  • Joining Fee: ₹ Joining Fee for FD of 10000/-and plus + GST
  • Annual Fee: ₹ NIL + GST
  • Welcome Benefits: NA
Sbm Magnet Gild Card

SBM Magnet Gild Card: Fees & Charges

Type of fee or charge Amount (Rs.)
Joining Fee:₹ Joining Fee for FD of 10000/-and plus
Annual/Renewal Fee:₹ NIL
Finance Charges:2.5% per month with APR of 34.49%
Spend Based Waiver:Not Applicable
Over Limit Penalty:exceeding your credit limit may result in declined transactions
Rent Payment chargesNULL
Forex Charges:3.0% of the transaction value
Minimum Repayment Amount:5% of Total outstanding + All charges/fees/taxes + EMI
Cheque Return Fees:500/- per returned cheque
Late Payment Charges:Flat 2.5% of Amount Overdue (Minimum: Rs. 1000) + GST

SBM Magnet Gild Card: Eligibility & Documentation

Eligibility:-
Age: Applicants should be at least 21 years old.
Income: A stable annual income is essential, typically a net monthly income of 60,000/- or more and Self-Employed Individuals/Professionals: A minimum annual income of 7 lakhs.
Credit Score: A good CIBIL score, ideally between 700 and 900, can significantly boost approval chances
Customers with an existing relationship (e.g., savings or current account, loans) with SBM Bank may have a better chance of approval.
The applicant must be an Indian citizen and valid address proof

Documentation:- 1. Aadhaar card, Passport, PAN card as your Identity proof
2. Any Utility bill, Passport, or Voter ID as your address proof
3. Salary slips, bank statements, or IT returns as your income proof

SBM Magnet Gild Card: Cash Advance and Charges

Cash Advance or Withdrwan Fee: 2.5% (Min. INR 300) of the cash amount
Cash Advance Withdrwan Limit: 40% of the card limit
Cash Payment at Bank Branch: NIL

SBM Magnet Gild Card: Customer care and helpline

Customer care : 18002099335 and 18001033817
Email Address : [email protected]
Mailing Address: SBM Bank (India) Ltd. 306 - A, The Capital, G block, Bandra-Kurla Complex, Bandra East, Mumbai 400051, Maharashtra.

Add-on Card facility: NIL

Card replacement fee: Rs 249 + GST

Rewards Redemption Fee: -

Domestic lounge:

International Lounge:

Fuel Surcharge:1% fuel surcharge refunded for transactions between 400 to 5,000 and Maximum of 400 per month.

FAQ of SBM Magnet Gild Card

Q1. What is the annual fee of SBM Magnet Gild Card?
The Annual fees of SBM Magnet Gild Card is NIL. And there is Joining fees is for FD of 10000/-and plus.

Q2. What is the interest rate on the SBM Magnet Gild Card?
The SBM Magnet Gild Card has an interest rate of 2.5% per month with APR of 34.49%

Q3. Are there foreign transaction fees on the SBM Magnet Gild Card?
Yes, The SBM Magnet Gild Card charges a 3.0% fee for all transactions in foreign currency .

Q4. What is the credit limit of SBM Magnet Gild Card?
The credit limit for the SBM Magnet Gild Card is based on multiple factors, such as your income, repaying capacity, and credit history. Sbm Bank does not specify a fixed credit limit for this card. It will communicate to you time of issuance of card. Sbm Bank offer Pre-approved Credit Limit to existing card holder. So if you are eligible by few step you can increase your credit limit.

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