SBM Bank IndiaSBM novio Credit Card
Verified Official Data • Last updated 2026-09
Net Value Calculator
Drag sliders to estimate this card's annual value based on your actual spending habits.
Your Monthly Spend
₹50,000/moE-Commerce & Online
Daily Essentials
Most cards earn ₹0 rewards on fuel (surcharge waiver only).
Frequently excluded from rewards in India.
Lifestyle, Bills & Other
Almost always earns ₹0 and may carry a fee.
Often excluded or capped.
No official rupee value is published for a novio Coin (redeemable only for in-app catalogue vouchers/offers), so the calculator values coin-denominated rewards at Rs.0 — a floor, not a claim the rewards are worthless.
Savings & Milestones Tracker
0.00%
Value Yield (Net / Spent)
₹0
Annual Net Value
How Your Spends Convert to Rewards
Live calculation breakdown for SBM novio Credit Card
| Spend Category | Monthly Spend | Reward Rate | Points Earned | Monthly Value | Annual Value | Status / Caps |
|---|---|---|---|---|---|---|
Utilities & Bills | ₹4,000/mo | 0 Pts / ₹100 | 0 pts0 pts/yr | ₹0 | ₹0/yr | Excluded |
Rent | ₹10,000/mo | 0 Pts / ₹100 | 0 pts0 pts/yr | ₹0 | ₹0/yr | Excluded |
Insurance | ₹1,500/mo | 0 Pts / ₹100 | 0 pts0 pts/yr | ₹0 | ₹0/yr | Excluded |
Other Online Shopping | ₹6,000/mo | 5 Pts / ₹100 | 300 pts3,600 pts/yr | ₹0 | ₹0/yr | Active Earn |
Amazon Spends | ₹3,500/mo | 5 Pts / ₹100 | 175 pts2,100 pts/yr | ₹0 | ₹0/yr | Active Earn |
Flipkart Spends | ₹2,000/mo | 5 Pts / ₹100 | 100 pts1,200 pts/yr | ₹0 | ₹0/yr | Active Earn |
Dining & Food Delivery | ₹5,000/mo | 5 Pts / ₹100 | 250 pts3,000 pts/yr | ₹0 | ₹0/yr | Active Earn |
Groceries | ₹7,000/mo | 5 Pts / ₹100 | 350 pts4,200 pts/yr | ₹0 | ₹0/yr | Active Earn |
Fuel | ₹4,000/mo | 1 Pts / ₹100 | 40 pts480 pts/yr | ₹0 | ₹0/yr | Active Earn |
Travel (Flights/Hotels) | ₹4,000/mo | 5 Pts / ₹100 | 200 pts2,400 pts/yr | ₹0 | ₹0/yr | Active Earn |
Other / Offline | ₹3,000/mo | 5 Pts / ₹100 | 150 pts1,800 pts/yr | ₹0 | ₹0/yr | Active Earn |
All ₹ values exclude GST. Perks like lounge access are shown separately and not added into net value. Rewards use your selected redemption mode (cashback / statement credit).
Is SBM novio Credit Card actually your best option?
Run the same spend against all 521 cards and see where this one ranks.
Key Specifications
₹0
₹0
₹50000
2.49%
Rewards Structure
Earn rates and reward configurations verified for 2026.
Applies to all non-excluded offline/misc categories
Category Earn Rates
Modelled at the Fuel-POS rate (1 RP/Rs.100, capped 40 RPs/month). Fuel spend paid via UPI on the novio app earns a higher 10 RPs/Rs.100, capped 400 RPs/month (both only for MCC 5541/5542 fuel merchants, min Rs.400/max Rs.4,000 transaction).
Also excludes cash disbursements/quasi-cash, foreign-currency/money-order/traveler's-cheque merchants, wallet load, government lotteries/gambling/betting, political organizations, securities brokers, fuel-dealer wholesalers (distinct from retail fuel MCCs above), legal/accounting/education, gift/novelty/souvenir shops, railways, agriculture/horticulture/veterinary services, and tax/court/postal/government-fee payments (MCCs with no matching enum category).
Devaluation Log & History
Not yet in effect as of this 2026-09-25 verification: from 23 Oct 2026, SBM novio introduces an Annual Fee (currently Nil) of Rs.299 (virtual card) / Rs.499 (physical card), waivable on Rs.50,000+ prior-year spend; Card Cancellation Fee also extends from '599 INR within 1 year' to '599 INR within 2 years of activation'.
Lounge Access
Redemption & Expiry
Eligibility Requirements
Exclusion Honesty: This data has been verified against official bank publications. We include exclusions and point valuation friction factors to render honest net metrics in our calculations.
Official Specification Sheet
Comprehensive rules, fees, and parameters verified directly against issuer details.
| Feature | SBM novio Credit CardSBM Bank India |
|---|---|
| Joining fee | Nil |
| Annual fee | Lifetime free |
| Fee waiver | From 23 Oct 2026: Annual Fee (Rs.299 virtual / Rs.499 physical) is waived if card spend in the preceding year is Rs.50,000 or more. |
| Base reward | 5 pts / ₹100 |
| Top reward categories | 1x fuel |
| Redemption friction | Moderate |
| Point expiry | novio Coins do not currently expire; SBM/novio reserve the right to introduce an expiry window with 30 days' notice. |
| Lounge access | None |
| Forex markup | 2.49% |
| Fuel surcharge | None |
| Min income · salaried | Not stated |
| Min income · self-employed | Not stated |
| Eligibility (as stated) | FD-backed secured card; no income proof or credit history required. Credit limit = 90% of FD amount. |
| Recent devaluations |
|
| Verified against |
Detailed SBM novio Credit Card Credit Card Review & Spends Guide (2026)
The SBM novio Credit Card by SBM Bank India is a prominent credit card in the Indian market, categorized under the entry tier. Offering a base rewards engine of 5 reward points per ₹100, this card targets users looking to optimize their personal finances.
When evaluating the real-world value of the SBM novio Credit Card, it's essential to look beyond the joining fee of ₹0 and annual fee of ₹0. With our real-time calculator above, you can map out your monthly category spends (online shopping, dining, travel, utilities, groceries, etc.) to see if you can trigger the spend-based annual fee waiver of ₹50000, which determines your true Net Annual Value (NTV). From 23 Oct 2026: Annual Fee (Rs.299 virtual / Rs.499 physical) is waived if card spend in the preceding year is Rs.50,000 or more.
Rewards Potential & Category Multipliers
For accelerated spenders, the SBM novio Credit Card features key reward multipliers:
- 1x on fuel spends (capped at ₹40/month).
- Exclusions: No rewards are earned on rent, utilities, insurance categories.
Lounge Access & Extra Perks
Perks add immense value that calculations often leave out. The SBM novio Credit Card offers:
- Domestic Lounges: No domestic lounge visits available.
- International Lounges: No international lounge visits available.
Points Redemption and Point Expiry
Earning points is only half the battle. Redemptions are subject to a friction index of 3/5 (representing Moderate/Portal redemption (3/5 friction)). Note: novio Coins redeemed only via the novio app's Rewards catalogue for discounted vouchers/brand offers — no cash-out option; no fixed rupee value is published for a coin.. Points are valid for novio Coins do not currently expire; SBM/novio reserve the right to introduce an expiry window with 30 days' notice..
Who the SBM novio Credit Card benefits the most
Derived from this card's actual earn rates, caps and perks — not a generic profile.
- People who want one flat, no-thinking rate: every eligible spend earns 5 points per ₹100 (about 0.00% in value at the best redemption), with no category tracking to do.
- Anyone who refuses to pay for a card. With a ₹0 annual fee and ₹0 joining fee, there is no break-even to chase — every rupee of reward is profit.
Who should avoid the SBM novio Credit Card
The cases where this card quietly costs more than it pays back.
- Anyone whose spending is heavy on rent payments, utility bills and recharges, insurance premiums. These categories earn absolutely nothing on this card — not a reduced rate, zero. Also excludes cash disbursements/quasi-cash, foreign-currency/money-order/traveler's-cheque merchants, wallet load, government lotteries/gambling/betting, political organizations, securities brokers, fuel-dealer wholesalers (distinct from retail fuel MCCs above), legal/accounting/education, gift/novelty/souvenir shops, railways, agriculture/horticulture/veterinary services, and tax/court/postal/government-fee payments (MCCs with no matching enum category).
- Anyone building a long-term strategy around one benefit. This card has been devalued 1 time on record — most recently in 2026-10: Not yet in effect as of this 2026-09-25 verification: from 23 Oct 2026, SBM novio introduces an Annual Fee (currently Nil) of Rs.299 (virtual card) / Rs.499 (physical card), waivable on Rs.50,000+ prior-year spend; Card Cancellation Fee also extends from '599 INR within 1 year' to '599 INR within 2 years of activation'. Assume today's rates are not permanent.
- Frequent flyers looking for airport comfort. This card carries no complimentary lounge access.
- High spenders expecting rewards to scale with spend. Monthly caps hold the accelerated earnings to roughly ₹480 a year; spending double will not double your rewards.
- Anyone reading the headline points rate literally. Each point is worth only ₹0, so "5 points per ₹100" is really about 0.00% back in value.
- Anyone who revolves a balance. Credit card interest in India typically runs 36–45% a year plus 18% GST on the interest — that erases every reward this card can pay, on any spending pattern.
Hidden charges and fine print on the SBM novio Credit Card
The costs that sit below the marketing page, verified against SBM Bank India disclosures dated 2026-09.
Forex markup of 2.49% is really 2.94%
GST at 18% applies to the markup, so 2.49% becomes about 2.94% in real terms. Also decline Dynamic Currency Conversion at foreign terminals: paying "in INR" adds another 3–5% on top of this.
The headline rate stops at a monthly cap
fuel is capped at ₹40 of rewards a month. Caps are per statement month and do not carry forward — an unused cap in April is gone in May.
Spends that earn zero
rent payments, utility bills and recharges, insurance premiums earn no rewards at all. Also excludes cash disbursements/quasi-cash, foreign-currency/money-order/traveler's-cheque merchants, wallet load, government lotteries/gambling/betting, political organizations, securities brokers, fuel-dealer wholesalers (distinct from retail fuel MCCs above), legal/accounting/education, gift/novelty/souvenir shops, railways, agriculture/horticulture/veterinary services, and tax/court/postal/government-fee payments (MCCs with no matching enum category). These excluded spends also frequently fail to count toward fee-waiver and milestone targets, so check the MITC before routing large payments here to "hit the target".
Redemption fine print
novio Coins redeemed only via the novio app's Rewards catalogue for discounted vouchers/brand offers — no cash-out option; no fixed rupee value is published for a coin. Redemption fees and minimum-balance thresholds are the most commonly missed cost on Indian cards — factor them in before comparing headline earn rates.
No fuel surcharge waiver
This card carries no fuel surcharge waiver in the published terms, so the usual ~1% surcharge levied by petrol pumps stays on your bill.
Charges every Indian card carries
Cash withdrawal fees (typically 2.5% of the amount, minimum ₹500) with interest from day one and no interest-free period, late payment fees graded by outstanding balance, over-limit charges, EMI conversion processing fees and interest, rent-payment and wallet-load fees, and payment-return charges. These are listed in the bank's MITC document, not in the marketing page — read it once before you apply.
Tax implications of the SBM novio Credit Card
Indian tax treatment of the fees, rewards and foreign spends on this specific card.
GST on fees and charges. This card has no joining or annual fee, so there is no GST on fees to pay. GST at 18% still applies to any interest, late payment fee, cash advance fee, EMI processing fee and the forex markup you incur.
Are the reward points taxable? Points or cashback earned in proportion to your own spending are treated as a post-purchase discount rather than income, so a salaried individual does not pay tax on them. The same applies to the points here, valued at ₹0 per point on redemption. Two exceptions matter: benefits received from a business relationship (not from your own spending) can attract TDS at 10% under section 194R where the value exceeds ₹20,000 in a year, and a gift or voucher received from the bank with no link to your spending can be taxable under section 56(2)(x) if total gifts from non-relatives cross ₹50,000 in a year.
Is the annual fee deductible? There is no annual fee on this card, so the question does not arise. Any GST-bearing charges you do incur follow the same rule below.
Foreign spends, TCS and the LRS. The 2.49% markup attracts 18% GST, making it about 2.94% effectively. TCS under the Liberalised Remittance Scheme runs at 20% above ₹10 lakh of remittances in a financial year; international credit card spends have so far been kept outside the LRS pending notification, so no TCS is deducted at the till today. Where TCS is collected on any remittance, it is not a sunk cost — it is creditable against your tax liability and refundable through your ITR.
Spends the tax department can see. Aggregate credit card payments of ₹10 lakh or more in a financial year (₹1 lakh or more if paid in cash) are reported by SBM Bank India in the Statement of Financial Transactions and show up in your AIS. That is not a tax by itself, but the spending should be consistent with the income you declare.
Eligibility and documents for the SBM novio Credit Card
SBM Bank India's stated criteria, verified 2026-09.
Eligibility
- Income: FD-backed secured card; no income proof or credit history required. Credit limit = 90% of FD amount. (as stated by SBM Bank India).
- Age: typically 21 to 60 for salaried applicants and up to 65 for self-employed; add-on cards from 18.
- Credit score: a CIBIL score of 750+ materially improves approval odds on any card, including this one.
- Residency: resident Indian with a verifiable address in a city SBM Bank India services.
Documents required
- Identity: PAN card (mandatory) plus Aadhaar, passport, voter ID or driving licence.
- Address: Aadhaar, passport, utility bill or registered rent agreement.
- Income (salaried): last 3 months' salary slips and 3–6 months' bank statements showing salary credit; Form 16 for the latest year.
- Income (self-employed): latest 1–2 years' ITR with computation, audited financials where applicable, and 6 months' current account statements.
- Photograph: one recent passport-size photo (often skipped in a full digital journey).
- Existing SBM Bank India customers with a salary or pre-approved relationship usually skip the income documents entirely.
Nomination note: a credit card has no nominee — nomination applies to deposits and investments. What matters here is that your family knows the card exists and knows the outstanding, so it can be settled from the estate promptly instead of accruing interest and late fees after the fact.
How to apply for the SBM novio Credit Card
- Check for a pre-approved offer first. Log in to SBM Bank India net banking or the mobile app. A pre-approved journey skips income documents and, more importantly, avoids a hard enquiry on your credit report if you are declined.
- Confirm the current fee and rates on the official page before applying — banks revise these without much notice, and this card has already been revised 1 time on record.
- Apply online with PAN, Aadhaar and employment details, or walk into a SBM Bank India branch if your income profile needs manual assessment.
- Complete KYC. Most issuers now offer video KYC that finishes in minutes; physical verification adds a few days.
- Confirm the credit limit before activating. A limit too small to route ₹4,167 a month through makes the ₹50,000 fee waiver unreachable — ask for an enhancement up front.
- Set a full-payment auto-debit on the due date the day the card arrives. Interest of 36–45% a year plus GST is the single fastest way to turn this card into a loss.
SBM novio Credit Card — frequently asked questions
Answers use this card's own numbers, verified 2026-09.
What is the annual fee for the SBM novio Credit Card, and can it be waived?
The SBM novio Credit Card has no annual fee and no joining fee. There is nothing to waive and no break-even spend to worry about.
How much do you actually earn on the SBM novio Credit Card?
The base rate is 5 points per ₹100, and each point is worth ₹0 at the best redemption — roughly 0.00% in value. There are no accelerated categories — the rate is flat across eligible spends.
Which spends earn no rewards on the SBM novio Credit Card?
rent payments, utility bills and recharges, insurance premiums earn zero. Also excludes cash disbursements/quasi-cash, foreign-currency/money-order/traveler's-cheque merchants, wallet load, government lotteries/gambling/betting, political organizations, securities brokers, fuel-dealer wholesalers (distinct from retail fuel MCCs above), legal/accounting/education, gift/novelty/souvenir shops, railways, agriculture/horticulture/veterinary services, and tax/court/postal/government-fee payments (MCCs with no matching enum category). If those categories are a big share of your monthly outgo, your effective return will be well below the advertised rate.
Does the SBM novio Credit Card offer airport lounge access?
No. This card carries no complimentary lounge visits. If lounge access matters to you, look at a card that states a visit count in writing.
What does the SBM novio Credit Card charge on foreign currency spends?
A 2.49% markup, plus 18% GST on that markup, so about 2.94% effectively. On a ₹1 lakh foreign spend that is roughly ₹2,938.
Do reward points on the SBM novio Credit Card expire?
novio Coins do not currently expire; SBM/novio reserve the right to introduce an expiry window with 30 days' notice.
Is there a cap on rewards from the SBM novio Credit Card?
Yes. The tightest is fuel at ₹40 of rewards a month. Caps reset each statement month and unused headroom does not carry forward.
What income do you need for the SBM novio Credit Card?
SBM Bank India states: FD-backed secured card; no income proof or credit history required. Credit limit = 90% of FD amount.. Banks treat this as a floor, not a guarantee — your credit score, existing card limits and internal risk scoring decide the outcome.
Is the SBM novio Credit Card annual fee tax-deductible, and are reward points taxable?
For a salaried cardholder the fee is a personal expense and is not deductible. If the card is used genuinely for business or professional spends, the fee and GST can be claimed as a business expense (and the GST as input credit where the card is billed to a GST-registered entity). Reward points earned in proportion to your own spending are generally treated as a post-purchase discount, not income, so they are not taxed in your hands.
Is TCS applicable on SBM novio Credit Card spends abroad?
Tax Collected at Source under the Liberalised Remittance Scheme applies at 20% above the ₹10 lakh annual threshold for remittances and forex card loads. International spends on Indian credit cards have so far been kept outside the LRS pending notification, so no TCS is deducted at the point of sale today. This has been changed and deferred more than once — confirm the current position with SBM Bank India before a large overseas spend. Any TCS actually collected is not a cost: it is creditable against your income tax liability and refundable when you file your ITR.
What happens to the SBM novio Credit Card account after the cardholder's death?
A credit card is an unsecured personal liability and cannot be inherited or transferred — the card must be surrendered and closed. Inform SBM Bank India in writing with the death certificate; the outstanding balance becomes payable from the deceased's estate, and the legal heirs are liable only to the extent of the assets they inherit, not personally. Any add-on cards stop working immediately. Unredeemed reward points are normally forfeited on closure, so a family member holding a large balance should redeem while the account is active. Nomination applies to deposits and investments, not to credit cards — but if there is a fixed deposit backing a secured card, the nomination on that FD governs its release.
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