South Indian BankSecured SIB One Co-Branded Credit Card – Benefits, Fees & Eligibility
Is the Secured SIB One Co-Branded Credit Card Right for You?
The Secured SIB One Co-Branded Credit Card is best suited for users who prioritize International Spends, Shopping, Travel. With a joining fee of Lifetime Free and a renewal fee of Lifetime Free, this card offers free entry for new applicants. It offers Reward Points as its primary reward mechanism.
Key Card Details
Lifetime Free
Lifetime Free
Reward Points
1% foreign currency markup on international transactions.
Notable Perks
Dining Benefits
Access to unmatched savings on dining through exclusive deals and offers portal.
Things to Consider
Requires a fixed deposit as security, limiting access for some users.
Reward points earning rate is not specified, making it hard to gauge value.
Lounge access and other premium travel benefits are not explicitly mentioned.
Benefits & Features
Reward Type
Reward Points
Reward Redemption
Redeem reward points conveniently through the dedicated in-app platform.
Dining Benefits
Access to unmatched savings on dining through exclusive deals and offers portal.
Travel Benefits
Access to unmatched savings on travel bookings and global acceptance for worldwide use.
Card Network
Visa
Fees & Charges
Joining Fee
Lifetime Free
Renewal Fee
Lifetime Free
Foreign Currency Markup
1% foreign currency markup on international transactions.
Pros & Cons
Pros
Key benefits and features of this card.
Lifetime-free with zero joining and annual fees, offering great value.
No prior credit score required, perfect for building credit history.
Extremely low 1% foreign currency markup, beneficial for international use.
100% digital onboarding ensures a quick and hassle-free application process.
Backed by a fixed deposit, providing a secure way to manage credit.
Cons
Key drawbacks and limitations of this card.
Requires a fixed deposit as security, limiting access for some users.
Reward points earning rate is not specified, making it hard to gauge value.
Lounge access and other premium travel benefits are not explicitly mentioned.
Limited information on specific redemption partners or categories for rewards.
May not offer extensive high-value benefits compared to unsecured premium cards.
Product Details
Secured credit card, backed by a fixed deposit.
Lifetime-free with zero joining and annual fees.
100% digital onboarding for a seamless application.
No prior CIBIL score required, ideal for new credit users.
Low foreign currency markup of just 1% for global transactions.
Supports contactless payments up to ₹5,000.
Smart expense management via the easy-to-use mobile platform.
Global acceptance on the Visa Signature network.
Benefits & Features
Reward Type
Reward Points
Reward Redemption
Redeem reward points conveniently through the dedicated in-app platform.
Dining Benefits
Access to unmatched savings on dining through exclusive deals and offers portal.
Travel Benefits
Access to unmatched savings on travel bookings and global acceptance for worldwide use.
Card Network
Visa
What matters, explained clearly
Introduction
The Secured SIB One Co-Branded Credit Card is issued by South Indian Bank in collaboration with M/s OneConsumer Pvt Ltd, operating on the Visa Signature network. Positioned as a lifetime-free card re-imagined for Gen-Z and first-time credit users, it offers premium benefits, zero joining and annual fees, and a 100% digital onboarding experience. Its key differentiating benefits include being a lifetime-free card with no annual fees, requiring no prior credit score, and offering a low foreign currency markup of just 1%.
Fees & Charges Breakdown
- Joining Fee: Zero
- Renewal Fee: Zero
- Foreign Currency Markup: 1%
- Hidden Charges: None, 100% of the fixed deposit funds are offered as the credit card limit.
Rewards & Cashback Structure
- Earning Rate: Earn exciting reward points on purchases.
- Redemption Options: Enjoy in-app rewards redemptions.
Travel, Lounge & Lifestyle Perks
- Card Network Benefits: Benefits associated with the premium Visa Signature platform.
- Contactless Payments: Available for transactions up to Rs. 5,000/-.
- Exclusive Deals: Access to unmatched savings on shopping, dining, and travel.
Card Eligibility Criteria & Income Requirements
- Credit Score: No credit score is needed, making it perfect for first-time users with no prior CIBIL requirements.
- Security: The card is backed by a fixed deposit.
Credit Card Review
This card is ideal for individuals, especially Gen-Z and first-time credit users, who are looking to build their credit history without the need for a prior credit score. Its lifetime-free nature and low foreign currency markup are significant advantages. The card offers smart expense management through an easy-to-use platform and attractive rewards, making it a valuable tool for controlled spending and credit building.
Important Product Details
- Card Name: Secured SIB One Co-Branded Credit Card
- Issuing Bank: South Indian Bank
- Co-Branded Partner: M/s OneConsumer Pvt Ltd (OneCard)
- Card Network: Visa Signature
- Card Type: Secured credit card, backed by a fixed deposit.
- Fees: Lifetime-free card with zero joining and annual fees.
- Onboarding: 100% digital onboarding experience.
- Credit Score Requirement: No prior CIBIL requirements, suitable for first-time users.
- Credit Limit: 100% of the deposited funds are offered as the credit card limit.
- Foreign Exchange: Among the lowest Forex fees in the industry, at just 1%.
- Payments: Supports contactless payments up to Rs. 5,000/-.
- Management: Smart expense management and monitoring through an easy-to-use platform.
- Acceptance: Global acceptance for worldwide shopping.
- Rewards: Attractive reward points on purchases with in-app redemption.
Other Details
- Terms & Conditions: Comprehensive Terms & Conditions, Most Important Terms & Conditions, and EMI Terms & Conditions are available for review. A Key Fact Statement details the schedule of charges.
- Grievance Redressal:
- IVR: 1800-210-9111, 1800-102-9408 / 1800-425-1809
- Email: help@getonecard.app, customercare@sib.bank.in
- Bank's Complaint Registration Portal: Available online.
- Card Closure/Blocking:
- Online Portal: Available for blocking or closing the credit card and reporting unauthorized transactions.
- OneCard App: Card block through "Manage Card Controls".
- IVR: 1800-210-9111, 1800-102-9408 / 1800-425-1809
- Email: help@getonecard.app, reportfraud@fplabs.tech, ceghotlisting@sib.bank.in
- Address Update: Users can update their address via an online link.
- Offers: Exclusive deals and savings on shopping, dining, and travel are available through a dedicated offers portal.