Synopsis: The Kredit Pe Card card is designed for users who seek convenience in payments and accessibility to the card without any rigorous eligibility criteria. This Article explores the features and benefits of the Kredit Pe Card.
With the rising demand of credit cards in India, the banks also seek for income proof, credit score and other eligibility to issue a credit card to a user. The process has been simplified with the introduction of the Kredit Pe card that refurbished the access by offering the credit card on simplified terms and conditions.
What is the Kredit Pe Card?
The Kredit Pe Card is a credit card issued by the SBM Bank Limited or Yes Bank through the Kredit Pe fintech platform. The variant of the card is broken down into digital, and a physical copy of the card also includes UPI transactions, based on the preferences of the user that seek high benefiting rewards with minimum eligibility requirements.
The Kredit Pe card stands out for its unique features of minimum eligibility qualifications unlike the traditional credit cards that rely on income proof and credit score of the applicant. Kredit Pe applicants are only required to invest in a Fixed Deposit (FD) with the bank to set a credit limit of 90% of the FD amount. The Yes Bank ACE variant does not require a Fixed Deposit.
Fees and charges
- Joining and annual fees:
- Yes Bank ACE variant: lifetime free credit card without any joining and annual fee.
- SBM Bank variant: no joining or annual fee is the FD is Rs 5,000 or above, otherwise renewal charges are Rs 199 + GST
- Interest rate: 3,5% (annualized at 42% per annum)
- Cash withdrawal fee: 2.5% of the amount withdrawn or Rs 100 (whichever is higher)
- Forex mark-up rate: 3.5%
- Late payment fee: 5% of outstanding fee (min. Rs 50, max. Rs 1,000)
Also Read: Is ICICI Coral Credit Card Best for Beginners in 2026? A Detailed Overview
Card benefits
- A welcome bonus of Rs 200 cashback on card activation.
- 3% cashback on utilization on the physical card on online purchases and stores.
- 3% cashback exclusively on Kredit Pe UPI transactions and an additional 3% cashback on Kredit Pe UPI transactions over Rs 10,000 every month.
- Use your cashback to get 5% discount on digital gold
- 20% discounts on vouchers and digital gold by increasing the FD amount to Rs 10,000.
Eligibility criteria
- The applicant must be 18 years of age or older.
- Should not be a resident of the Northeastern part of India (Arunachal Pradesh, Sikkim, J&K, Mizoram, Assam, Manipur, Nagaland, Tripura or Ladakh).
- No income proof or credit history required.
Who should consider the Kredit Pe credit card?
- If the applicant is a beginner or a first-time user without any income.
- Frequent digital and UPI spenders.
- For those who seek zero card fees.
Final thoughts
The Kredit Pe credit card brings out a different approach to credit cards with simplified terms and conditions and digital experience. The card is an excellent option for an entry-level credit card while not being a replacement for traditional credit cards.
Written by Atin Kevin
