Synopsis: This article compares SBM Zet Credit Card and IDFC FIRST Hello Cashback Credit Card, it explains the various features, benefits and rewards, while also mentioning the fees and charges. The aim of the article is to help readers understand both the cards and help them in choosing the right card for their needs.
Both SBM Zet Credit Card and IDFC FIRST Hello Cashback Credit Card are Fixed Deposit Backed credit cards that are lifetime free has UPI functionality, making it an ideal credit-building tool. Both the cards offers cashback on most of the spend categories making them most suitable cards for users.
What Makes both these Cards Special
Instead of verifying your pay slips or credit worthiness, the bank asks you to open an FD account. The FD account will be taken as collateral by the bank, and it then gives you a credit card with a limit based on the FD amount. In other word:
- 100 percent guaranteed acceptance (provided you open the FD)
- Proof of income not necessary
- No credit score needed
- FD will keep earning interest even as you use the credit card
Clearly, both these cards have their advantages, especially for people who fall under the category of students, beginners in using credit cards, freelancers, and those having a poor credit score.
SBM Zet Credit Card
This is a co-branded product provided by SBM Bank (India) and Zet App on the RuPay platform. The card is the first lifetime free FD-backed credit card in India that facilitates UPI transactions.
- Approval via FD: Create an FD starting from ₹2,000 with SBM Bank and be sure about getting approval for the card.
- Credit Limit: Up to 90% of the value of your FD.
- Life Time Free: No joining fees, no annual fees, and no renewal fees ever!
- UPI Integration: Attach your RuPay card to any UPI application like Google Pay, PhonePe, Paytm, CRED, etc., and pay through scanning QR Codes.
- FD Interest: Earn interest at 7% p.a. on your SBM Bank FD.
- Interest-free Days: Up to 45 days’ interest-free period.
- Discounts/Cash Back: Cash back of 15% on more than 80+ brands such as Nykaa, PVR, Dominos, Cleartrip. Flat 20% off on Swiggy, Zomato, BookMyShow, and Instamart.
- Voucher Redemption: Up to 5% discount on Amazon Pay and Flipkart vouchers.
- FD Cover: Your FD is insured by DICGC in RBI’s scheme.
- Instant Virtual Card: Get instant virtual card issuance after 10 mins of doing video KYC.
- Transaction Fees: Up to 2.49% on foreign transactions.
To apply for the card, please visit the Official Website
IDFC FIRST Hello Cashback Credit Card
Launched in February 2026, the IDFC First Hello Cashback Credit Card is designed for digitally savvy young Indians with online-first spending habits. It’s a feature-rich FD-backed card with a structured cashback model.
- FD-Backed Approval: Open an FD of minimum ₹10,000 with IDFC First Bank.
- Credit Limit: 100% of the FD amount — your entire FD value becomes your credit limit.
- Joining Fee: ₹1,000 + GST (waived as an introductory offer for early applicants).
- Annual Fee: ₹1,000 + GST, which is waived 100% on annual spends of ₹2 lakh or more; waived 50% on spends between ₹1–2 lakh.
- Tiered Cashback: 5% cashback on online spends above ₹10,000 per cycle; 3% on online spends below ₹10,000; 1% on in-store, UPI, and contactless payments.
- Travel Bonus: Additional 1% cashback on flights and hotel bookings via the IDFC First Bank App (total up to 6%).
- Monthly Cashback Cap: ₹1,500 per statement cycle (₹1,000 cap on online, ₹500 on other categories).
- UPI Enabled: Auto-linked to IDFC First Bank App; compatible with BHIM, PhonePe, Paytm, GPay, CRED, and more.
- Fuel Surcharge Waiver: 1% waiver on fuel transactions between ₹200–₹5,000 (up to ₹100/cycle).
- Roadside Assistance: Complimentary assistance worth ₹1,399, valid 4 times a year.
- Insurance Coverage: Personal accident cover of ₹2,00,000; lost card liability cover of ₹25,000.
- ATM Cash Withdrawal: Up to 100% of FD value; interest-free for 45 days with a nominal ₹199 + GST fee.
- Instant Limit Enhancement: Link additional FDs to increase your credit limit instantly.
- No Income Proof: Fully digital and instant application — no salary slips, no credit history needed.
To apply for the card, please visit the Official Website
Cashback Comparison Table
Also read: Credit Card Cashback, Reward Points & Air Miles: Do You Have to Pay Tax on Them?
Conclusion
In terms of individual performance, both the SBM Zet Credit Card and the IDFC First Hello Cashback Credit Card have proven themselves but again, which is better depends on you personally. When choosing between a fee-less card, low entry threshold (FD from just ₹2,000 onwards) and amazing merchant offers regardless of your total spend, go for the SBM Zet card. When your monthly digital spending goes above ₹10,000, when you require well-structured cashback offers along with the security of insurance covers, and when you are okay with paying annual fees (that too can be waived off), the IDFC First Hello Cashback card will be the better choice between the two.
Written by Shrikara
