September 23, 2025 · 9 mins read
Santosh Kumar
ZET, a fintech company, has launched the 'Magnet Diwali Double Dhamaka' campaign, offering Rs 42,000 in benefits on new credit card activations from October 21 to November 3, 2024. The campaign aims to get into peak festive spending.
"Diwali is a time of joy and celebration, and with our Diwali Double Dhamaka offer, we want to make it even more special for our customers. With double the benefits, we aim to offer unmatched value and a festive experience like never before," Manish Shara, co-founder and CEO, ZET, tells afaqs! In an exclusive conversation.
The campaign offers over Rs 42,000 in benefits, including OTT subscriptions to Disney Hotstar, Sony LIV, and Zee5, along with added travel and dining perks. Shopping rewards of up to 10% are available on platforms like Amazon, Flipkart, and Myntra.
The campaign enables financial inclusion by offering a credit card with a minimal Rs 5,000 fixed deposit. Customers get a 90% credit limit and up to 7% interest on their deposit. It’s a lifetime free card, with no income proof required, and guarantees approval, reducing barriers to credit access.
The strategic approach has three main pillars. First, value maximization through double benefits timing, digital entertainment bundling, and shopping rewards. Second, accessibility through low entry points, guaranteed card issuance, and minimal documentation. Third, strategic timing leveraging the peak festive period with a limited-time window during the pre-Diwali shopping season.
From an industry perspective, the campaign launches amid growing secured credit demand, rising digital adoption, intense festive season competition, and an increased focus on financial inclusion. The campaign distinguishes itself through its benefit-doubling strategy, digital benefits integration, mass market approach, and zero-fee structure.
ZET, which previously operated as OneCode (registered as Vistas Technolabs Pvt. Ltd), continues its evolution in the fintech space through a digitized network of sales and financial agents. The company focuses on bridging the financial products gap in non-metro cities.
The campaign's impact is expected to manifest in both short-term effects, such as festive season acquisition push and brand visibility boost, and long-term implications, including setting new category benchmarks and influencing product bundling trends.
"ZET's double benefits strategy during Diwali shows a deep understanding of both market dynamics and customer psychology. The combination of increased value and accessibility could set new benchmarks for festive marketing in the fintech space,".
The campaign represents a significant evolution in fintech marketing during festive seasons. Its success could influence future marketing strategies in the sector, particularly in how brands package and present secured credit products to the mass market.
This lifetime free card has no annual fees and offers exciting rewards. Enjoy up to 20% off on Swiggy, Zomato, and BookMyShow. Additionally, you get reward points worth 20% on Myntra, 8% on Flipkart, and 5% on Amazon. With a focus on safety, savings, simplicity, and strong rewards, the SBM ZET Credit Card is one of the quickest and easiest ways to build your credit score. The card is easy to apply for on the ZET mobile application and involves only four simple steps. First-time users looking for a secured line of credit to build a credit history and enjoy the perks of a credit card in their daily lives may find this card an ideal solution. The card is available in the RuPay variant and can be linked to UPI for convenience.
A minimum fixed deposit of ₹5,000 is required to obtain this secured credit card, and users receive a credit limit of 90% of their deposited amount. It is also recommended that the fixed deposit be three times an individual’s monthly expenses, which will help keep the credit utilisation to only 30%, thus building a stronger credit score.
Also Read: Top Credit Cards Offering Instant Discounts on Fashion & Lifestyle Shopping
1: 5% Rewards on Amazon
2: 8% Rewards on Flipkart
3: 20% Rewards on Myntra
4: Enjoy up to 15% Rewards on All Major Platforms
The card comes with a few features and benefits, making it ideal, especially for users looking to get their first-ever credit card. Take a look at the following features the card exhibits.
1: The card is offered for free for life, and applying for it involves a few easy steps on the ZET mobile app. You only need to log in using your phone number and enter your PAN, after which your credit details will be fetched, allowing you to proceed. The entire process consists of four easy steps.
2: Earn Interest on Fixed Deposits Up to 7%
3: Users can avail themselves of up to 7% interest on their SBM Bank Fixed Deposit.
Unlike all other entry-level credit cards in the market right now, this card offers a low forex fee of 2.4%, allowing users to shop internationally at a low markup as and when required.
Also Read: Festive Season Online Sales: Credit Card Hacks to Double Your Savings
Since this is a secured credit card, it is one of the best ways to build a credit history for users who already don’t have one.
The ZET card comes in a RuPay variant; you can easily connect it to popular UPI apps like Google Pay, PhonePe, or Paytm. This makes it easy to use your credit card for everyday purchases, just like you use UPI now.
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It’s a co-branded secured credit card offered by SBM Bank in collaboration with Zetapp against an SBM Bank fixed deposit (FD) of Rs. 5,000. The credit limit is usually a percentage of your FD amount, and you can spend up to this limit every month while earning interest on the FD amount. You can avail of this credit card even if you don't have a strong credit history. It is best suited for those who want to build a credit history without the risk of defaulting on payments. This lifetime free card is available on Rupay/Visa or any other network chosen by SBM Bank with zero joining and annual charges.
Also Read: Best Credit Cards for Grocery & Daily Needs Shopping This Festive Season
The ZET Magnet Credit Card is an ideal credit card for those with poor or no CIBIL scores who want to build CIBIL effortlessly.
Your money is protected by the Deposit Insurance and Credit Guarantee Corporation (DICGC), an entirely RBI-owned subsidiary.
Upon card approval, you will unlock the following world-class joining benefits worth Rs. 21,000:
OTT platform Benefits: Disney+ Hotstar, Zee5, SonyLiv, and 38 others with OTTPlay Travel Benefits: Exclusive discounts on international and domestic flights, bus tickets, and Uber.
Food: Swiggy, Pizza Hut, and Domino’s
Clothing: Myntra, Puma, and Ajio
Music Streaming: GaanaPlus
News & Knowledge: The Hindu
Also Read: Upcoming Festive Season Sales 2025: Credit Cards That Give Maximum Benefits
In-app Currency: Zcoins worth Rs. 100
1: From daily groceries to designer clothes, get up to 10% rewards with a wide range of vouchers across all leading brands like Amazon, Myntra, Flipkart, Swiggy, etc.
2: This is a lifetime free credit card, which means you do not need to pay any joining or renewal fees.
3: No hidden charges are applicable to the Magnet card.
4: No need for an existing CIBIL score or income proof to apply for the card.
5: Unlike traditional FDs, Magnet FD is not frozen, and you don't need to break your FD to access funds. You can withdraw/transfer 90% of your FD amount at any time without incurring any penalties while earning up to 7% interest on it.
6: Breaking FD after 390 days incurs no charges at all.
The ZET Credit Card is a great option if you're looking to make your Festive Season Shopping More Rewarding, a no-fee credit card with valuable benefits. From shopping and lifestyle discounts to easy UPI payments and the ability to earn interest on your deposit, it offers a lot for first-time users. Plus, it helps you build your credit score quickly and safely. If you want a hassle-free card that gives you both rewards and flexibility, the ZET Credit Card is worth considering as your first-ever credit card.
Also Read: Top 5 Reasons to Use a Credit Card Instead of Debit Card for Festive Shopping
Yes, the ZET app is designed to keep your data secure and protect you from financial scams and fraud.
The minimum FD amount required for an SBM Magnet credit card is Rs. 5,000.
Yes, you can use your ZET Magnet FD Credit Card globally as it is available on Rupay/Visa or any other network chosen by the bank. However, you will be required to pay a markup fee of 2.49% on transactions made in Indian currency at an international location.
Yes, you can earn up to 10% rewards on purchases from leading brands with your ZET Magnet FD Credit Card.
Yes, one can easily link their RuPay SBM ZET Credit Card to the UPI application of their choice and start making payments.
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