July 30, 2025 · 11 mins read
Santosh Kumar
As college students and recent job seekers in India become familiar with the realm of personal finance, it can be an exciting yet overwhelming experience. For example, tracking one's expenditure, developing a credit history, and accessing relevant tools as a first-time credit user are key and foundational elements that help ensure financial literacy.
The Zet SBM Credit Card is a prominent option for students and early-career professionals alike as it features a straightforward, affordable solution that functions as a Parity credit card (fulfilling the function of a RuPay Card) while being backed by a fixed deposit (FD) and is operated by SBM Bank in partnership with Zet.
The Zet SBM Credit Card aims to facilitate uncomplicated ways to build a sound credit score for newcomers to credit users (such as college students and early-career professionals) with added rewards and flexibility.
It is important that young adults slow build a credit history as soon as they can. A good credit score, of 750+, can unlock better financial products, including loan options, premium credit cards, and better interest rates. College students and first-time jobbers often have little or no credit history, but the Zet SBM Credit Card for students defines low-risk, giving them low-risk access to the credit world.
Instead of requiring a strong credit score or income proof as unsecured credit cards do, the Zet SBM Credit Card is back by a fixed deposit account, giving guaranteed approval and access even if the young adult has no credit history. As long as they use credit as expected use of credit, young adults can create a strong credit profile.
Further, the Zet SBM Credit Card for students fits the usage patterns of young adults as well. From paying for online subscriptions to hanging out with friends, shopping, or making small purchases in everyday life, the card is UPI compatible, and an appropriate rewards model fits into their way of life. Lastly, there is nothing like no annual fee around, and earning interest on your FD, whichever is most appropriate in the moment, will give financial access in a cost-saving manner.
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The Zet SBM Credit Card for students has a lot of features that make it a good card for young adults:
Guaranteed Approval with FD: The card only requires a minimum fixed deposit of ₹5,000 to be maintained with SBM Bank. This means it secures the card. Additionally, because this card is based on a fixed deposit, you do not need to prove your income or previous credit history. Furthermore, the credit limit is capped at 90% of the FD amount, providing flexibility without the risk of over-borrowing.
No Annual Fee or Joining Fee: This is a lifetime free card with no hidden fees, which is great for students and first jobbers who are often just on a limited income!
UPI Compatible: The card is RuPay powered, and you can use it with apps like Google Pay, PhonePe, and Paytm to make payments online and off without requiring a bank account. You can easily use this card for your day-to-day shopping for things like food delivery, grocery shopping, or paying your bills.
You Accrue Interest on FD: While using the card, the fixed deposit backing your card is earning you interest (up to 7% per annum). You're growing your savings while you use your credit card. The FD is insured for up to ₹5 lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
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For college students and first-time job seekers, establishing a credit score can be problematic due to limited credit exposure. The Zet SBM Credit Card for students establishes credit by reporting your timely payments to CIBIL or Equifax, two of the major Credit Bureaus.
As long as users use the credit responsibly, such as paying their bills on time and maintaining credit utilization below 30 percent, it is possible to see improvements in their credit score within 30 days of applying for the program. Such improvements can be advantageous for students who may need loans for higher education, or first-time job seekers, who are looking to obtain a car loan, or a personal loan in the near future.
The FD-backed credit card has a lower risk of default because your credit limit is backed by your deposit held in the FD. Therefore, you will always owe the bank a fixed amount as the credit limit is tied to the deposit.
This will encourage you to spend only what you have deposited and prevent overspending—a critical component of developing a robust credit profile. For example, let's say our hypothetical student with a 10,000 INR FD gets a 9,000 INR credit limit, although they can spend or use their credit card anywhere, using it to charge for small purchases and then repaying the purchase in full will be reported to the credit bureaus and raise their score.
After consistent use and timely repayment of the credit card over time, it would not be unusual for someone studying abroad to report in less than a year that their score has improved from the 600s to 750 or higher.
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The Zet SBM Credit Card for students is unique due to its rewards program that looks thoughtfully into the spending habits of students in colleges and the first employees. We know the young adults spend on food delivery services, e-commerce, entertainment, and travel. This card offers:
20% off on Swiggy, Zomato, and BookMyshow, which is good for students hanging out or ordering food while at a study session.
20% rewards for Myntra, 8% for Flipkart, and 5% for Amazon, which links to a need for shopping for clothes and electronics, or books.
ZET Coins that can be redeemed for cash (1 ZET Coin = ₹0.20) or vouchers (1 ZET Coin = ₹0.25). This appeal will provide students with choices in how they redeem their rewards.
UPI rewards (coming soon) 2% rewards on UPI transactions. UPI is the feature of choice for students and young professionals who want to pay instantly with UPI
Universal rewards will make spending day in and day out cheaper and rewarding, and assist young adults in stretching their budgets while building credit.
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It is no surprise that UPI, as a method of payment, is the preferred choice for young adults in India, as it is quickly accepted anywhere payment is possible. The Zet SBM Credit Card for students, powered by RuPay, works well with UPI apps, which means it can be used when paying at local vendors, online, and for peer-to-peer transfers.
For students who are used to UPI for small transactions like café bills, groceries, or even splitting bills with friends, that adds lots of value to their payment experience.
For first jobbers, UPI-enabled credit cards make it easier to manage the monthly bills (such as rent, utility bills, and subscriptions) directly from their credit cards. When connected to an app like Google Pay or PhonePe, the Zet SBM Credit Card is compatible with UPI, meaning a user can use their card credit limit daily without needing cash or needing to rely on their debit accounts.
The Zet SBM Credit Card for students provides a phenomenal mix of security and flexibility. The fixed deposit the card is backed by is insured up to ₹5 lakh by the DICGC, so users and their families can have peace of mind. With unsecured credit cards, spending can exceed the financial capacity and lead to debt. FD-backed products are credit-limited at 90% of a fixed deposit; the financial strain is capped.
Users can increase their credit limit through the ZET app by topping up their FD, up to ₹5,00,000. This flexibility is far more suitable for a first jobber who may have started with a small FD but anticipates an increased income that will allow for a larger credit limit. The FD generates an interest rate upto 7%, therefore it is a savings and spending instrument.
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The process to apply for the Zet SBM Credit Card for students has been structured to make it easy, uncomplicated, and simple, even for those who are not savvy when it comes to financial issues. The steps are as follows:
Download the ZET APP: You can find it on Google Play Store and App Store.
Register: Sign up by entering your mobile number and PAN card.
Open an FD: Open a fixed deposit starting at ₹5,000 with SBM Bank using the APP.
Complete Video KYC: Provide your records and information about PAN and Aadhaar so that verification can occur.
Approval: You will receive instant approval and a virtual card in approximately 2 minutes. You will receive a physical card in 5-7 business days.
As you can see, this is a completely digital and paperless process, which is great, especially for digital natives and also for students and young adults, who like to do their banking and finance on their mobile phones. There is no income proof and no history check, meaning it is available to virtually anyone over 18!
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Students in college experience a limited income (using pocket money or part-time work) and cannot qualify for a regular credit card. The Zet SBM Credit Card for students removes these barriers with just a small FD required that can be funded by parents or savings. The card is special for students because of its rewards on food, entertainment, and shopping, and the UPI capability allows students to use it for regular small-value buying, matching their lifestyles.
Further, the card builds financial discipline. The students will build budgeting skills by using it for controlled expenditures while learning to repay on time. They are building a strong credit score without worrying about excessive debt. The interest earned on FD is small but valuable in building the student’s value of saving over spending.
Some students and first job seekers may have anxieties about the safety of their FD or about what happens if they need to terminate it prior to maturity. The Zet SBM Credit Card for students takes care of this by insuring their FD up to a maximum of ₹5 lakh under the guidelines of DICGC. Also, if they do end up terminating their FD prior to maturity, the student only incurs a 1% penalty, which is standard with FD-backed credit cards.
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The minimum original FD is ₹5,000; this is also the card security, and the total credit limit will be equal to 90% of the FD.
No credit history or proof of income is required to apply, making this the ideal card for students and first jobbers.
The card is powered by RuPay and is able to integrate with all UPI apps such as Google Pay, PhonePe, or Paytm.
If the FD is closed before the maturity date, the bank will impose a 1% closing penalty. The card will be deactivated until a new FD is opened.
Using the card responsibly and making repayments on time, the user should see some improvement in their credit score within 30 days.
Download the app from PlayStore
