Build 750+ CIBIL Score with Magnet FD Credit Card

An FD-based card is a type of credit card where your money in a fixed deposit (FD) acts as security. This means you can get a credit card even if you don't have a strong credit history. The credit limit is usually a percentage of your FD amount. You can spend up to this limit every month while earning interest on your FD amount as well. It's a good option for building credit history without the risk of defaulting on payments.

Magnet is an FD based credit card which is available on the ZET app. It offers all the benefits of both an FD and a credit card, while simultaneously building 750+ CIBIL score as well.

Magnet is ideal for anyone in India who wants to build their CIBIL score. You can get approved even with no existing credit history or income proof. There's no minimum credit score required for Magnet. It's specifically designed to help people build a 750+ CIBIL score from scratch.

Here are some key benefits of Magnet:

• Build CIBIL Score: Ideal for those with no or low CIBIL score.
• Secured by RBI: Your FD is protected by DICGC, a subsidiary of RBI.
• Joining Benefits: Get benefits worth ₹21,000+ upon card approval, including OTT subscriptions, travel discounts, and shopping vouchers.
• Up to 10% Rewards: Earn rewards on any purchases on all leading brands.
• Lifetime Free: No annual fees or hidden charges.
• Easy Access: No need for existing credit score or income proof.

Your credit limit is based on your FD amount. It is set at 90% of your FD amount and can be easily increased by making a larger FD payment.

Magnet FD Credit Card is available on the ZET app. You can get it on ZET by making a ₹5000 FD with SBM Bank in India.

Your Magnet FD money is always yours to access. Unlike traditional fixed deposits, Magnet FD is not frozen and there is no need to break your FD to access funds. You can withdraw or transfer 90% your FD amount at any time without incurring any penalties and while earning up to 7% interest on it as well.

Magnet offers you utmost flexibility. However, if you still decide to break your FD under 390 days of activation, a nominal fee of ₹500 is charged on that. Breaking it after 390 days incurs no charges at all.