SBM Bank Gild Credit Card: Features & Benefits, Digital Gold Rewards, FD safe or not ?, Charges

The Gild Credit Card, provided by the State Bank of Mauritius, is a unique credit card that combines the advantages of a Fixed Deposit and a Credit Card. By using the Gild Credit Card, you can earn returns similar to a Fixed Deposit, pay like a traditional credit card, and even receive gold rewards on every purchase. We will be discussing everything about the Gild credit card. So make sure that you stick around till the end and read this article carefully.

Features and Benefits

Let us now dive deep into the features and benefits of the Gild Credit Card.

• Credit Cards against Fixed Deposit: The State Bank of Mauritius issues the Gild credit card against a fixed deposit. In order to get this credit card you should have a fixed deposit of the minimum amount of Rs. 20,000 and a maximum amount being Rs. 2,00,000.
• High Credit Limit: You will get a credit limit of 90% of the deposit plan.
• High FD Interest Rates: You will earn an interest of 7.3% on your fixed deposit.

• Deposit Insurance: You must be wondering that since the amount is in the form of a fixed deposit is it safe or not? So basically the fixed deposit that you will create of your desired amount will be insured by a body of the Reserve Bank of India which is the DICGC. The deposit of Rs. 5 lacks will be insured. So you do not have to worry as your fund is absolutely secure.

• Instant Approval: You will be issued this credit card with an ‘Instant Approval’. The Gild credit card will be shown virtually in the official banking app of the State Bank of Mauritius.
• Spending Control: You control Your Credit Card Spending on Gild App.

• Real Gold Rewards: Whenever you will use the Gild Credit Card to make any payments and transactions you will get a 0.75% Gold (24K 99.99% Pure Digital gold) reward on every spend. You can instantly redeem this in the form of cashback.
• Metal Card Holder: You get free Automatic Pop-up Metal Card Holder.

Reward Points

Now let us move on and see the rewards offered and the redemption of the rewards by the Gild Credit card –

• Digital Gold as Rewards: Glid has partnered with a digital gold partner ‘Safegold’. So the rewards that you earn with Gild Credit Card are in the form of digital gold.
• You will be able to earn rewards with every transaction that you make which will be 0.75% in the form of ‘Petals’.
• These petals you earn will be used to redeem digital gold, cashback, and other exciting rewards as well.
• You have to note that ‘One petal = Rs. 1 of digital gold’.
• These reward points do not have an expiry as long as your account is active with the Gild.
• The reward points will be reversed if the eligible transaction is reversed.
• You will not be able to transfer the reward points to another person.

So this was everything about the reward points and their redemption. Let us now understand a special feature of the Gild credit card and that is the additional ‘Top Up’.

Fixed Deposit & Top up

• The Gild Credit Card will be issued against the fixed deposit. So the credit limit completely depends on the deposit value. Minimum deposit amount of Rs. 20,000 and a maximum amount Rs. 2,00,000 per transaction.
• The credit limit will be 90% of your deposit amount.
• If you want to increase this limit then you can ‘Top-Up’ your Gild account at any point in time with an additional deposit.
• You have to remember that this additional deposit should be a minimum of 5000 rupees.

Click Here to Apply => SBM Bank Gild Credit Card with No Joining Fee For Limited Time

Fees and Charges

Joining Fee	Free
Annual Fee	Free / Rs. 499 (From second year onwards) Waived min spend 1,50,000 in preceding yers
Add-on Card Fee	Free / Rs. 499 (From second year onwards) Waived min spend 1,50,000 in preceding yers
Credit Limit against FD	90% of FD
Cash Advance Transaction Fee	Rs. 125 per transaction
Max Cash Limit	50% of your deposit
Late Payment Fee	Rs. 299 + GST
Foreign Transaction Fee	2.49% per transaction
Rewards Redemption Fee	Nill
Free Credit Period	48 days (depends on your statement date)
Card Replacement Fee	Rs. 500 (Lost Cards only)
Balance Transfer Fees	Min Amount: Rs. 3000 1.5% of amount or Rs. 199 (whichever is higher)
Minimum Due for Pos/ Ecom Transactions	5%
Minimum Due for Cash/ Debit to Account Transaction	10%
Interest Rate for Pos/ Ecom Transactions After Credit-free Period	30% P.A / 2.5% P.M
Interest Rate for Charges After Due Date	30% P.A / 2.5% P.M
Interest Rate for Interest Charged on Previous Month After Due Date	30% P.A / 2.5% P.M
Interest Rate for Cash Transactions/ Debit to Account Transactions	40% P.A / 3.3% P.M
Card Cancellation Fee	Rs. 999 (Less Than 6 Months of Card Activation)
Fixed Deposit Closure	1% (Closure date’s interest charges)

Eligibility Criteria

• Have valid PAN & Aadhaar card
• Valid CKYC record
• Minimum age of 18 years
• Selfie identity to match KYC records
• FD source fund account details to match applicant details
• Applicant resides in serviceable pin codes
• Applicant not part of any risk criteria that the Bank might use
• Does not have an existing account with SBM Bank (India) directly or through partner products.

Pros & Cons

Here are the pros and cons of the Gild Credit Card –

1. This card is for beginners and it does not even require income proof.
2. So if you are someone who is trying to build your credit score or even boost your credit score then this card will help you boost your credit score.
3. The Gild credit card is issued against a fixed deposit. So you can enjoy the benefits of a fixed deposit and a credit card. So it’s a win-win situation.
4. You get the liberty to increase your credit limit as well.
5. There are no such major cons of the Gild credit card that it requires a fixed deposit. So if you are someone who is not looking for a fixed deposit then this credit card might not be the perfect choice for you.

How to apply for the Gild Credit Card from the State Bank of Mauritius?

How To Apply

Click Here to Apply => SBM Bank Gild Credit Card with No Joining Fee For Limited Time

The application process for the Gild Credit card is pretty simple. The credit will be provided to you in a virtual form. You will be able to see this credit card on the official SBM Gild Fixed Deposit & Card App. There is no verification process for this and income proof is also not required for the Gild Credit Card. You can apply online on the official website or app. You will be asked for details like your Full name, mobile number, PAN Card number, email address, and pin code. Then you will have to complete the further process on the Gild App by the State bank of Mauritius.

Customer Care

Suppose you have a credit card-related inquiry, complaint, or issue. In that case, you can directly give a call on the SBM Bank Customer Care Number: 1800 1033 817 Or, you can send your query via email: [email protected] or [email protected]

FAQ

We have covered everything about the Gild credit card we hope that you have gained the knowledge to make a decision. Don’t forget to grab the amazing benefits and rewards of the Gild Credit card and have a happy banking experience!