SBM Magnet Gild Card
Apply for the best credit card of Sbm Bank
Welcome Benefits
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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 charges | NULL |
| Forex Charges: | 3.49% of the transaction value |
| Minimum Repayment Amount: | 5% of Total outstanding (Min. Rs. 100) + All charges/fees/taxes + EMI |
| Cheque Return Fees: | 2% of Total Amount Due or Minimum of 500 whichever is higher |
Eligibility criteria
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
Document Requirements
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
Other Information
Frequently Asked Questions
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.
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%
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 .
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.
Card other Details
SBM Magnet Gild Card Credit Limit: Up to ₹10 Lakh