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Overview
The Magnet Card is an FD- backed credit card from SBM Bank, available through the Zet app. It’s designed to help druggies make their credit scores without taking a credit check.
Magnet SBM Credit Card Review 2024
Preface:
The Magnet Card, an FD- backed credit card from SBM Bank, is offered through the Zet app. This card is specifically designed for individualities looking to make or ameliorate their credit scores without the hassle of credit checks. With its unique features and benefits, the Magnet Card stands out as an accessible and practical fiscal tool.
Crucial Features:
One of the most seductive features of the Magnet Card is its guaranteed blessing. Unlike traditional credit cards, the Magnet Card doesn’t bear a credit check, making it accessible to individualities with no credit history or those with a low credit score.
No Periodic freights:
The Magnet Card is a continuance free card, meaning there are no periodic freights. This makes it a provident choice for druggies who want to avoid the redundant costs associated with maintaining a credit card.
Prices Program:
Cardholders earn a flat 1 cashback on all deals. This simple yet effective prices program ensures that druggies get commodity back on every purchase, adding value to their spending.
FD Interest
The card is backed by a Fixed Deposit (FD) with SBM Bank. Druggies can earn up to 7 per annum on their FD, combining the benefits of a savings regard with the convenience of a credit card.
Credit Limit:
The credit limit on the Magnet Card is 90 of the FD value. This ensures that druggies have a substantial credit line grounded on their deposit, making it a secure and dependable option.
Interest-Free Period:
Druggies can enjoy up to 45 days of interest-free credit, handed they pay their outstanding balance in full by the due date. This point helps in managing short- term cash inflow without incurring fresh costs.
Benefits:
Structure Credit Score:
The Magnet Card is ideal for individualities with no or low credit scores. By using the card responsibly and making timely payments, druggies can significantly ameliorate their credit scores. This can lead to better loan offers and lower interest rates in the future.
Low Entry hedge:
With an FD demand starting from just ₹ 5000, the Magnet Card is accessible to a wide range of druggies. This low entry hedge makes it easier for further people to start erecting their credit history.
Savings on Loans:
An advanced credit score achieved through responsible use of the Magnet Card can affect in lower interest rates on unborn loans. This long- term benefit can lead to substantial savings over time.
Client witnesses:
Druggies have reported remarkable advancements in their credit scores. For case, one stoner saw their credit score increase from 0 to 750 within a time of using the Magnet Card. similar witnesses punctuate the card’s effectiveness in helping individualities make a strong credit history.
Crucial Features:
- Blessing Guaranteed No credit checks needed.
- Continuance Free No periodic freights.
- Prices Flat 1 on all deals.
- FD Interest Earn up to 7 sire on Fixed Deposit (FD).
- Credit Limit 90 of FD value.
- Interest-free Period Up to 45 days.
Benefits:
- Figure Credit Score Ideal for individualities with no or low credit scores.
- Low Entry hedge FD deposits starting from ₹ 5000.
- Savings on Loans Advanced credit scores affect in lower interest rates on loans.
- Client witnesses
- Druggies have reported significant advancements in their credit scores, with one stoner seeing an increase from 0 to 750 within a time.
Operation Process:
- Download Zet App Available on Google Play Store.
- Produce FD with SBM Bank Link FD to the Magnet Card.
- Spark and Use Card Make timely disbursements to make your credit score.
- Step- by- Step operation Process
- Download the Zet App
- Visit the Google Play Store.
- Hunt for” Zet App” and download it.
- Install the app on your mobile device.
- Register and Set Up
- Open the Zet App and register using your mobile number.
- Complete the KYC process by furnishing necessary documents.
- Apply for Magnet Card
- Navigate to the Magnet Card section within the app.
- Click on” Apply Now”.
- produce an FD with SBM Bank
- Choose the quantum for your Fixed Deposit (starting from ₹ 5000).
- Complete the FD creation process through the app.
- spark Your Magnet Card
- Once the FD is created, your Magnet Card will be actuated.
- You’ll admit the card details and physical card.
- Use the Card Responsibly
- Launch using your Magnet Card for deals.
- Insure timely prepayment to make your credit score and avoid penalties.
- By following these way, you can successfully apply for and use the Magnet Card to make your credit score and enjoy colorful benefits. For further information, visit the Magnet Card runner.
Below Table Available Full details:
| Section | Details |
|---|---|
| Website | https://zetapp.in/magnet |
| Approval | Guaranteed with no credit checks required. |
| Fees | Lifetime free with no annual fees. |
| Rewards | Flat 1% cashback on all transactions. |
| FD Interest | Earn up to 7% p.a. on the Fixed Deposit (FD). |
| Credit Limit | 90% of the FD value. |
| Interest-free Period | Up to 45 days. |
| Eligibility | Ideal for those with no or low credit scores. FD starting from ₹5000. |
| Customer Testimonials | Users have reported significant credit score improvements, e.g., from 0 to 750 within a year. |
| Step-by-Step Process | 1. Download ZET App 2. Register and complete KYC 3. Apply for Magnet Card 4. Create FD with SBM Bank 5. Activate and use card responsibly. |
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Quarries:
Q) What’s the Magnet Card?
A) The Magnet Card is an FD- backed credit card from SBM Bank, designed to help druggies make their credit scores without taking a credit check.
Q) What are the crucial features of the Magnet Card?
A) crucial features include guaranteed blessing with no credit checks, no periodic freights, 1 cashback on all deals, up to 7 sire FD interest, 90 of the FD value as the credit limit, and over to 45 days of interest-free period.
Q) How does the Magnet Card help in erecting a credit score?
A) The Magnet Card is ideal for individualities with no or low credit scores. By making timely disbursements and maintaining good credit geste , druggies can significantly ameliorate their credit scores.
Q) What’s the minimal quantum needed for the FD?
A) The minimum quantum needed for the Fixed Deposit is ₹ 5000.
Q) Can you partake a client validation for the Magnet Card?
A) Druggies have reported significant advancements in their credit scores, with one stoner seeing an increase from 0 to 750 within a time.
Q) What’s the process to apply for the Magnet Card?
A) Download the Zet App from the Google Play Store.
- Register and complete KYC.
- Apply for the Magnet Card in the app.
- Produce an FD with SBM Bank through the app.
- Spark the Magnet Card and start using it responsibly.
Q) Is there a link to get further information about the Magnet Card?
A) Yes, further information can be set up on the Magnet Card runner.
