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Cashback Rewards UPI / RuPay Low Annual Fee Entry Level Secured / FD Backed

2026 Edition4.0/5 Editorial Score

Paisa+ Credit Card

Everyday Retail Savings & Cashback Credit Card with Spend Waivers

Best Suited For

Budget-conscious shoppers and entry-level cardholders seeking consistent everyday savings and low annual fee maintenance.

Cashback Rewards UPI / RuPay Low Annual Fee

Joining Fee

Free

One-time upfront

Annual Fee

₹499

Waived on ₹50,000 annual spend

Base Rewards

Up to 1.5% Cashback on Online Spends (>₹10k FD) & 1.0% on Offline/UPI Spends

On eligible spends

Forex Markup

3.50% + GST

Cross-currency spends

Apply Now Compare Card Official Terms

Last verified 3 Oct 2026

Why Consider This Card?

Objective editorial assessment, ideal spender profile, and primary trade-offs

Editorial Verdict

4.0/5 Editorial Score

The Paisa+ Credit Card is an accessible, consumer-centric payment card tailored for value-conscious households. With zero joining fee and an affordable annual renewal fee of ₹499 plus GST (reversed upon spending ₹50,000 annually), it is built to minimize cardholder costs while rewarding everyday shopping necessities. The card delivers accelerated reward points on departmental store purchases, grocery shopping, and utility bill payments. Cardholders also benefit from a 1% fuel surcharge waiver at fuel stations nationwide, delivering immediate recurring savings on daily commutes. For entry-level earners and young families establishing a responsible credit footprint, the Paisa+ Credit Card offers dependable savings without complex spend milestones or heavy fees.

Ideal For:Budget-conscious shoppers and entry-level cardholders seeking consistent everyday savings and low annual fee maintenance.

Cashback Rewards UPI / RuPay

Card Strengths

Zero Joining Fee: No upfront joining fee, allowing cardholders to access credit without initial cost.
Low ₹50,000 Spend Waiver: Annual fee of ₹499 is waived upon spending ₹50,000 in eligible retail transactions during the card year.
2X Rewards on Groceries & Utilities: Earn 2X reward points on essential household groceries, supermarket spends, and utility bills.
1% Fuel Surcharge Waiver: 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000 at fuel stations across India.
Accessible Approval: Favorable approval criteria designed for first-time credit card applicants and entry-level employees.

Things to Keep in Mind

₹499 Annual Fee: Annual fee applies if the annual spend waiver threshold of ₹50,000 is not achieved.
No Airport Lounge Access: Does not provide complimentary domestic or international airport lounge visits.
Standard 3.50% Forex Fee: Charges standard 3.50% foreign exchange markup on cross-border transactions.
Modest Base Reward Yield: Base retail reward yield delivers approximately 0.25% value return.

Additional Cardholder Privileges

Other

Zero Credit Check

100% Guaranteed Approval with ₹2,000 FD

No income proof, salary slips, or past CIBIL history required. Simply open an FD starting at ₹2,000 with SBM Bank to get your credit card instantly issued.

Other

Up to 7.25% FD Return

Earn Up to 7.25% p.a. Interest on Fixed Deposit

Your underlying fixed deposit continues to earn compound interest up to 7%–7.25% p.a. with SBM Bank India while you spend and build credit.

Cashback

Up to 1.5% Cashback

Up to 1.5% Direct Statement Cashback

Enjoy direct cashback without point conversion hassles. Cashback is credited directly to your monthly statement balance.

Other

RuPay UPI Enabled

RuPay Credit Card on UPI Payments

Link to Google Pay, PhonePe, Paytm, or BHIM to scan and pay at millions of merchant QR codes directly from your credit limit.

Other

Builds 750+ CIBIL

Fast-Track Credit Score Building (750+ CIBIL)

SBM Bank reports repayment discipline every month to all Indian credit rating agencies, helping first-time borrowers build a strong 750+ credit score in 6 to 12 months.

Fee waiver

Fee Waived at ₹50k Spend

Zero Joining Fee & Easy Annual Fee Waiver

Pay zero joining fee upfront. The ₹499 annual renewal fee from Year 2 is completely waived on achieving ₹50,000 in annual spending.

Rewards & Cashback Structure

Base earning rates, partner merchant acceleration, redemption options, and exclusions

Reward Program Name: Paisa+ Direct Cashback Program
Reward Currency: Cashback
Base Earn Rate: Up to 1.5% Cashback on Online Spends (>₹10k FD) & 1.0% on Offline/UPI Spends
Redemption Method: Cashback is credited automatically without manual redemption hassle.

Category Accelerated Earn RatesPublished Terms

Spend Category	Earn Rate	Reward Cap	Conditions
Online Retail & E-Commerce Spends (>₹10,000 FD)	1.50% Cashback on online shopping, food delivery, and digital spends (for FD amounts above ₹10,000)	No Cap	Standard terms apply
Online Spends (FD ₹2,000 to ₹10,000)	1.00% Cashback on online shopping and digital spends (for FD amounts between ₹2,000 and ₹10,000)	No Cap	Standard terms apply
In-Store & POS Retail Purchases	1.00% Cashback on all in-store POS card swipes and offline retail purchases	No Cap	Standard terms apply
RuPay Credit Card on UPI Transactions	1.00% Cashback on eligible RuPay UPI transactions of ₹2,000 and above	No Cap	Standard terms apply

Explore top credit cards and rewards across top verified merchant brands.Browse Merchant Hubs

Estimate Your Custom Monthly Rewards

Calculate estimated net cashback and points across your actual spending pattern.

Open Rewards Calculator

Reward Exclusions: Fuel transactions, wallet loading, cash withdrawals, rent payments, educational payments, and government services are generally excluded from base and accelerated reward point accrual across all Indian card issuers.

Reward Calculator

Estimate Your Annual Rewards

Estimate your rewards using the card's current reward rates, monthly caps and applicable fee-waiver rules.

Verified Rates & Caps

Quick Select:

Total Monthly Spend:₹30,000 / month

₹5,000 / mo₹1 lakh / mo₹2 lakh / mo

Category Spend Allocation

Customize monthly spend in each category. Category amounts sum directly to your monthly spend.

Assumed spend distribution

Online Retail & E-Commerce Spends (>₹10,000 FD)1.50%

No published cap

₹

Online Spends (FD ₹2,000 to ₹10,000)1.00%

No published cap

₹

In-Store & POS Retail Purchases1.00%

No published cap

₹

RuPay Credit Card on UPI Transactions1.00%

No published cap

₹

Excluded / Non-Reward Spends0%

Fuel, rent, wallet, govt, cash

₹

Category / Reward Bucket	Monthly Spend	Rate	Effective Rate	Cap Period	Eligible Reward	Cap Status
Online Retail & E-Commerce Spends (>₹10,000 FD)	₹3,000	1.50% Cashback on online shopping, food delivery, and digital spends (for FD amounts above ₹10,000)	—	None	Calculating...	Under cap
Online Spends (FD ₹2,000 to ₹10,000)	₹3,000	1.00% Cashback on online shopping and digital spends (for FD amounts between ₹2,000 and ₹10,000)	—	None	Calculating...	Under cap
In-Store & POS Retail Purchases	₹3,000	1.00% Cashback on all in-store POS card swipes and offline retail purchases	—	None	Calculating...	Under cap
RuPay Credit Card on UPI Transactions	₹3,000	1.00% Cashback on eligible RuPay UPI transactions of ₹2,000 and above	—	None	Calculating...	Under cap
Total Monthly Cashback	₹30,000	-	—	-	₹0 / mo	Zero cap loss

Annual Spends

₹3.6 lakh

12 billing cycles

Annual Capped Rewards

₹0

0% blended return

Effective Fee

-₹499

Standard renewal

Net Annual Value

+₹0 / yr

Rewards - Fee

*Calculation based on verified card reward rates, applicable monthly caps, and fee-waiver thresholds - ₹499 annual fee.

Multi-card comparator

Milestone Spend Progression

Bonus vouchers and annual fee waiver milestones unlocked as your total spend increases

Tier 1 Target

₹50,000per year

Worth ₹499

Annual Fee Waiver (₹499 Waived)

Spend ₹50,000 or more in a card anniversary year to get 100% waiver of the ₹499 annual renewal fee.

*Milestone spend calculation is tracked across eligible retail purchases within each specified billing or calendar period. Excludes cash advances, wallet loads, and EMI conversions.

Airport Lounge Access

Domestic and international lounge privileges, spend hurdles, and participating terminals

No Airport Lounge Access Included

This card is tailored primarily for shopping rewards, cashback, or specific co-branded spend and does not include complimentary airport lounge visits.

Fees & Charges

Complete breakdown of joining, renewal, forex, financing APR, and transaction charges

1. Card Membership Fees

Joining Fee (1st Year): Free
Annual / Renewal Fee (2nd Year Onwards): ₹499
Annual Spend Fee Waiver: Waived on ₹50,000 annual spend
Fee Terms Notes: Joining Fee: ₹0 (Nil). Annual Renewal Fee: ₹499 + GST. 100% renewal fee waived on spending ₹50,000 or more in the preceding anniversary year.

2. International Spends

Foreign Currency Markup (Forex): 3.50% + GST
Dynamic Currency Conversion (DCC): Standard 1% mark-up on cross-currency INR transactions where applicable

3. Borrowing & Financing

Monthly Interest Rate (Finance Charges): 3.49% per month
Annualized Interest Rate (APR): 41.88% p.a.
Cash Advance / ATM Withdrawal Fee: 2.5% of withdrawal amount
Interest-Free Period: Up to 50 Days

4. Other Charges & Taxes

Late Payment Charges: Standard SBM Bank schedule: ₹0 up to ₹500, up to ₹1,000 for balances exceeding ₹50,000.

Regulatory Tax Notice: Goods and Services Tax (GST) of 18% is applicable on all card fees, interest charges, and milestone fees as mandated by the Government of India.

Verified Terms & Exclusions Summary

• Eligibility: 100% Guaranteed approval against SBM Bank Fixed Deposit (min ₹2,000). No income proof, salary slip, or minimum CIBIL score required. Open to any Indian resident aged 18+ with PAN & Aadhaar. • Joining & Annual Fee: ₹0 joining fee; ₹499 annual renewal fee (waived on achieving annual retail spends of ₹50,000). • Rewards Structure: Earn 2 reward points per ₹100 on groceries, departmental stores, and utility bills; 1 point per ₹100 on standard retail. • Fuel Surcharge: 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000 (maximum waiver ₹150 per statement cycle). • Forex Markup: Standard foreign exchange fee of 3.50% + GST on international transactions. • Zero Liability: Zero fraud liability protection on unauthorized transactions post immediate reporting of lost or stolen card.

Is the Annual Fee Worth It?

Evaluate whether this card's perks and waiver threshold justify its ₹499 renewal fee.

Calculate Fee ROI

Eligibility & Application Requirements

Income criteria, minimum age, CIBIL score benchmark, and verification checklist

Age Requirement: 18 – 75 years
Employment Status: Any (No Income Proof Required - Secured Against Fixed Deposit)
Recommended Credit Score (CIBIL): Not specified
Residency: Indian Resident
Special Eligibility Notes: 100% Guaranteed Approval backed by SBM Bank Fixed Deposit starting at ₹2,000. No income proof, salary slip, or prior credit score required. Open to any Indian resident aged 18+ with valid Aadhaar and PAN.

Mandatory Verification Documents

1. Identity ProofPAN Card (Mandatory), Aadhaar Card, Passport, or Voter ID.

2. Address ProofAadhaar (DigiLocker), Utility Bill (Electricity/Piped Gas), or Rental Agreement.

3. Income ProofLatest 3 months salary slips, Form 16, or latest 2 years ITR computation.

Frequently Asked Questions

Common questions regarding Paisa+ Credit Card application, fees, reward redemption, and eligibility

What is the joining fee and annual fee for Paisa+ Credit Card?

The joining fee is ₹0. The annual renewal fee is ₹499 plus GST, which is completely waived upon spending ₹50,000 or more in retail transactions during the card anniversary year.

Does Paisa+ Credit Card offer airport lounge access?

No, the Paisa+ Credit Card does not offer complimentary airport lounge access. It is focused on everyday retail, groceries, and utility savings.

What is the reward rate on grocery and utility spending?

You earn 2 reward points per ₹100 spent on grocery stores, supermarkets, and utility bill payments, offering an effective 0.50% value return.

Do I need income proof or a CIBIL score to get the Paisa+ Credit Card?

No. The Paisa+ Credit Card is a secured credit card issued with 100% guaranteed approval against an SBM Bank Fixed Deposit starting from ₹2,000. No salary slips, ITR documents, or prior CIBIL credit history are required.

What is the joining and annual renewal fee for Paisa+ Credit Card?

The joining fee for Paisa+ Credit Card is Free (one-time), and the annual renewal fee is ₹499 from the second year onwards. GST of 18% is applicable on all fee charges.

Can the annual fee on Paisa+ Credit Card be waived?

Yes, the annual renewal fee of ₹499 is waived upon achieving annual spends of ₹50,000 in the preceding card anniversary year.

What are the primary rewards and cashback earn rates on Paisa+ Credit Card?

Paisa+ Credit Card offers Up to 1.5% Cashback on Online Spends (>₹10k FD) & 1.0% on Offline/UPI Spends. Cardholders also enjoy accelerated reward rates on partner merchants and selected digital spend categories.

Does Paisa+ Credit Card offer complimentary airport lounge access?

No, Paisa+ Credit Card is designed for daily retail, cashback, or UPI spend and does not currently include complimentary airport lounge visits.